Aimbridge Hospitality and Interstate Hotels & Resorts Merge; Advent to Assume Majority Stake
August 29, 2019
Aimbridge Hospitality and Interstate Hotels & Resorts entered into a definitive agreement to merge, creating a global third-party hotel management leader that will operate more than 1,400 properties across 49 states and 20 countries. Advent International, which acquired a majority stake in Aimbridge earlier in 2019, will assume majority ownership of the combined entity; Kohlberg & Company, which owned Interstate, will relinquish its stake as part of the transaction.
- Buyers
- Aimbridge Hospitality, Advent International
- Targets
- Interstate Hotels & Resorts
- Sellers
- Kohlberg & Company
- Industry
- Restaurants & Hospitality
- Location
- Virginia, United States
- Transaction Type
- Buyout
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