US: Aimbridge Hospitality has added 16 Extended Stay America properties to its portfolio, and now manages 36 properties for the brand, with more in the pipeline.
The latest portfolio of Extended Stay America properties, totalling 1,775 keys, has received $5 million of capital improvements in the last two years alone and will continue to receive capital improvements into the future from the new ownership group consisting of Lodging Advisory Group and ServiceStar Capital Management, LLC.
Lodging Advisory Group (LAG) will serve as the portfolio’s asset manager. CEO Dan Weber said: “Our knowledge of and experience in the extended stay hotel space paired with Aimbridge Hospitality’s deep operational expertise is a partnership that makes perfect sense.”
Mike Deitemeyer, global president of Aimbridge Hospitality, added: “At Aimbridge, we use our scale, deep understanding of extended stay properties and experience across each hospitality vertical to achieve success alongside our owners. Our extended stay team is excited to assume management of this exceptional collection of properties.”
The new Extended Stay America properties added to Aimbridge Hospitality’s portfolio are in Nebraska, Kansas, Montana, New Mexico and Arizona.
