Aimbridge Hospitality Announces Merger with Interstate Hotels

Aimbridge Hospitality, headquartered in Plano, TX, entered into a definitive agreement to merge with Interstate Hotels & Resorts of Arlington, VA. Upon late 2019 completion of the merger, the new company will manage a combined hospitality portfolio of more than 1,400 branded and independent properties in 49 states and 20 countries.

Dave Johnson, Co-Founder and CEO of Aimbridge, will become CEO of the combined business. Michael Deitemeyer, President and CEO of Interstate, will become Global President, overseeing operations globally and corporate disciplines. The merged company will employ more than 60,000. Global private equity investor Advent International, which had acquired a majority ownership stake in Aimbridge earlier in 2019, will assume majority ownership of the combined entity.

Goldman Sachs & Co. LLC and Moelis & Company LLC were financial advisors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was Interstate’s legal advisor. Ropes & Gray LLP was Aimbridge’s legal advisor.

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