General Atlantic joins Lee Equity Partners to drive growth of hotel management leader.
DALLAS and NEW YORK – Aimbridge Hospitality, the nation’s second largest independent hotel investment and management firm, and General Atlantic, a leader in global growth investing, 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.
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