Aimbridge Hospitality Secures Management of 103 Hotels
DALLAS, Texas, Jan. 8, 2013 /PRNewswire/ -- Aimbridge Hospitality, one of the nation's leading hotel investment and management firms, announced today that it has added 103 hotels, formerly known as Jameson Inns and located in 12 states in the Southeastern United States, to its management portfolio.
Earlier this year, an investment vehicle managed by affiliates of Colony Capital, LLC, including Colony Financial, Inc., assumed ownership of the portfolio of hotels. As part of their business plan to reposition the portfolio, Colony selected Aimbridge to manage the portfolio and effect a substantial renovation and rebranding under the banners of certain nationally-recognized chains. In addition, a fund affiliated with the principals of Aimbridge Hospitality and Argonaut Private Equity has acquired a minority economic stake in the hotel portfolio.
Thomas J. Barrack Jr., Chairman and CEO of Colony, said, "We are pleased to partner with Aimbridge and its proven team, which has already completed the management transition with minimal disruption. They are a natural fit for this project, bringing the operational expertise to move these assets to the top of their class."
Dave Johnson, President and CEO of Aimbridge, said, "We are delighted to invest alongside a firm of the caliber of Colony and we look forward to further enhancing and reinvigorating these properties."
The portfolio of hotels, located in Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia, totals 7,000 guest rooms and 1,700 associates. The portfolio will be managed by Channel Point, a wholly owned and operated subsidiary of Aimbridge.
Moelis & Company acted as financial advisor to Colony in connection with its assumption of ownership and repositioning of the portfolio.
For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.
About Aimbridge Hospitality
Aimbridge Hospitality is one of the nation's leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas and with development offices in Chicago, Dallas and Puerto Rico, Aimbridge currently owns and/or manages more than 180 upscale, independent and branded hotels with nearly 25,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham, Choice Hotels and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.
About Colony Capital, LLC
Founded in 1991 by Chairman and Chief Executive Officer Thomas J. Barrack, Jr., Colony Capital is a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies. The firm has invested $48 billion in over 19,000 loans/assets through various corporate, portfolio and complex property transactions. Colony has a team of more than 250 and is headquartered in Los Angeles, with offices in New York, Boston, Scottsdale, London, Madrid, Paris, Rome, Beirut, Hong Kong, Seoul and Taipei. For more information, visit www.colonyinc.com.
SOURCE Aimbridge Hospitality
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