Editor's Note: This story was updated on Nov. 14 with additional background on Mike Deitemeyer's career and a comment Deitemeyer made about the transition on LinkedIn.
Aimbridge Hospitality President and CEO Mike Deitemeyer will step down from his role at the world's largest third-party hotel management company at the end of the year.
In a short LinkedIn post about his decision, Deitemeyer did not indicate where he is headed after leaving Aimbridge. He wrote how proud he was of the team he built.
"I am incredibly grateful to have met and worked alongside so many talented, and wonderful people during my time leading Aimbridge — our associates, owners, brands partners, suppliers and countless others," he said.
Aimbridge has formed an executive committee, led by board Chairman Glenn Murphy, to conduct comprehensive search for a new CEO, according to a news release.
Deitemeyer has served as the chief executive of the Plano, Texas-based company since January 2021. Prior to that, he served as global president following Aimbridge's 2019 acquisition of Interstate Hotels & Resorts, of which Deitemeyer was president and CEO.
Deitemeyer started his hospitality career with an internship at Interstate, working accounts payable at the Worcester Marriott in Worcester, Massachusetts. After working in several positions for the company, he left to start a small hotel management company, Shoreline Operating Company, where he was the chief financial officer. TRT Holdings, which owned Shoreline, later bought Omni Hotels & Resorts.
He worked for Omni for several years, including as president for 13 years, before he returned to Interstate as its president and CEO in March 2017.
Aimbridge has undergone several expansions and reorganizations of its operations and business development structures in recent years.
Under Deitemeyer's leadership as CEO, the company acquired several hotel management companies and portfolios. In December 2021, it acquired third-party management, investment and advisory services company Prism Hotels & Resorts. As part of the Summit Hotel Properties-led joint venture that purchased NewcrestImage's real estate portfolio, Aimbridge took over operations for the 27 hotels in the deal in November 2021.
In March 2023, Aimbridge acquired Terrapin Hospitality's management portfolio of 71 hotels.
Aimbridge reworked its organizational structure in mid-2022, bringing on Mark Tamis as its new global president of operations while replacing its verticals structure with six new divisions to be more responsive to owners. In early 2023, the company announced a similar move with its business development teams, led by Chief Global Growth Officer Allison Reid, to be more in line with its new operating divisions.
“We want to thank Mike for his contributions to building the Aimbridge legacy," Murphy said in the news release. "Under his leadership, the company ramped up its commitment to appointing and developing top talent, led several strategic acquisitions that allowed the company to gain a foothold in new markets, and strengthened our relationship with world’s top brands. Mike’s contributions further reinforced Aimbridge’s reputation as a dominant force in the industry and positioned the company for its next phase of growth."
Thomas Song, Aimbridge chief financial officer, will also leave the company for a new opportunity outside of the hotel industry at the end of the month. He joined Aimbridge as the CFO in 2021, and he previously the same role at Dine Brands Global and was senior vice president of corporate development and innovation at Choice Hotels International.
Aimbridge announced it is appointing two new members to its board of managers: Stephen Joyce and Bernardo Hees.
Joyce previously served as CEO of Choice Hotels International after a 25-year career at Marriott International. Most recently, he led RE/MAX Holdings after being the chief executive at Dine Brands Global.
Hees previously was executive chairman of Avis Budget Group and has been CEO of several publicly traded companies, including Burger King Worldwide Holdings, The Kraft Heinz Company and America Latina Logistica.
“The addition of Steve Joyce and Bernardo Hees to the Aimbridge Board of Managers brings unparalleled hospitality experience and corporate transformation know-how to our team," Murphy said. "Both have proven experience in driving outsized results for companies and owners, as well as building high-performance cultures.”
Joyce and Hees will join Murphy and Jeff Case, managing director at Advent International, on the executive committee.