Aimbridge Hospitality Announces Investment from General Atlantic
General Atlantic Joins Lee Equity Partners to Drive Growth of Hotel Management Leader
DALLAS and NEW YORK, July 13, 2015 /PRNewswire/ -- Aimbridge Hospitality, the nation's second largest independent hotel investment and management firm, and General Atlantic, a leader in global growth investing, today announced that General Atlantic has made a strategic investment in the company. General Atlantic joins Lee Equity Partners, a U.S.-based private equity firm, as a leading shareholder in Aimbridge Hospitality.
"With over 30 years of experience operating hotels and resorts, our ability to create a positive guest experience and deliver operational excellence for our hotel brand partners and property owners has earned Aimbridge the reputation of a premier independent manager," said Dave Johnson, President and Chief Executive Officer of Aimbridge Hospitality. "General Atlantic's expertise in global expansion, significant capital base, and track record of success investing in travel and outsourcing businesses will enable us to grow strategically as we seek to raise the bar for hospitality industry guests, partners, and associates."
Founded in 2003 by former Wyndham executives Les Bentley and Dave Johnson, Aimbridge Hospitality currently manages over 250 properties and 35,000 rooms across 38 states and the Caribbean. Today Aimbridge provides management service under 41 hospitality brands including Marriott, Hilton, and Hyatt, as well as eight independent hotels.
"Aimbridge is a partner of choice for the hotel industry due to its exceptional quality and consistency and its track record of delivering superior returns for its strategic partners in a variety of markets and economic cycles," said Mark Dzialga, Managing Director and Global Head of General Atlantic's Business Services sector. "We look forward to working with the strong executive leadership team and deep bench of talent throughout the organization to help capture Aimbridge's many compelling opportunities in the growing hospitality market."
"Aimbridge has been and continues to be a hallmark investment for Lee Equity given its rapid growth, strong competitive position, and industry-leading management team," said Yoo Jin Kim, Partner of Lee Equity Partners and board member of Aimbridge Hospitality. "With the addition of our new partner General Atlantic, the future for Aimbridge will be even more exciting, and we look forward to many more great years of partnership."
In conjunction with the investment, Mark Dzialga and Peter Munzig, both senior members of General Atlantic's Business Services sector team, will join the company's board of directors. Aimbridge was advised by Moelis & Company and Weil, Gotshal & Manges LLP. General Atlantic was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.
About Aimbridge Hospitality
Aimbridge Hospitality is the nation's second largest independent hotel investment and management firm 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 over 250 upscale, independent and branded hotels with nearly 35,000 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. www.aimbridgehospitality.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, Sao Paulo and Singapore. www.generalatlantic.com
About Lee Equity Partners
Lee Equity Partners is a New York based private equity firm that seeks to partner with top-tier management teams to build companies with high growth potential. Lee Equity makes private equity investments in growth oriented, mid and large cap companies located primarily in the United States. Lee Equity's target market includes companies with enterprise values of between $100 million and $5 billion. Lee Equity seeks to invest in businesses with sustainable competitive positions, sufficient scale to attract high quality management and the ability to demonstrate continued growth. Lee Equity is a generalist firm whose professionals have significant expertise in a number of industries, including Financial, Healthcare and Business Services, Retail and Consumer Products and Media. www.leeequity.com
Media Contacts
Kellie McCrory
MCA Public Relations for Aimbridge Hospitality
+1-214-654-0402
[email protected]
Jenny Farrelly
General Atlantic
+1-212-715-4080
[email protected]
Joe Rotberg
Lee Equity Partners
+1-212-888-1500
[email protected]
SOURCE General Atlantic
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