US: Aimbridge Hospitality, has teamed up with Three Wall Capital, to add three more extended stay properties to its portfolio.
Acquired by Three Wall Capital (TWC) the properties bring 277 keys under Aimbridge management.
Aimbridge and Three Wall Capital have been partners since 2019, and Aimbridge is responsible for the management of more than 65 extended stay, select service, and full-service properties owned by TWC.
Alan Kanders of Three Wall Capital said: “It is critical for us to have the right partners for our owned properties, and Aimbridge has the right people, management approach, and resources to bring value to our hotels.”
Simon Mendy, divisional president, Aimbridge Select Service added: “We are dedicated to providing both efficient and effective experiences for our owners and positioning our hotels, including these three recently added properties, for continued success. Our partnership with Three Wall Capital is a cornerstone of our select service division, and it’s our pleasure to work with their exceptional team throughout this process.”
The properties which have been added to the portfolio are:
Staybridge Suites Eagan Airport (89 Rooms), located at 4675 Rahncliff Rd. Eagan, MN 55122
Extended Stay America St. Louis Fenton (94 Keys), located at 1662 Fenton Business Park Ct. Fenton, MO 63026
Candlewood Suites St. Louis St. Charles (94 Keys), located at 1800 Zumbehl Rd. Saint Charles, MO 63303
TWC’s current primary strategy is to acquire extended stay hotels in secondary and tertiary markets. TWC’s current portfolio encompasses 71 hotels of which 64 are extended stay properties affiliated with the Extended Stay America, Candlewood Suites, Staybridge Suites, Residence Inn by Marriott, TownePlace Suites by Marriott, Homewood Suites by Hilton, and Home2 Suites by Hilton.
Three Wall Capital plans to acquire and develop another 35 midscale and upscale extended stay hotels over the next 18 to 24 months.
Aimbridge recently announced it was creating six divisional roles in its new operating structure.
