LAS VEGAS — Though it's already world's largest third-party hotel management company, Aimbridge Hospitality's executives see room for further growth, both in terms of its portfolio and the careers of its employees.
During the company's Aimbridge Summit Live! 2023 conference for on-property leaders, executives laid out where things currently stand and where they are headed.
As of the first day of the summit, Aimbridge has 1,500 hotels under contract with nearly 200,000 hotel rooms in 19 countries, Aimbridge President and CEO Mike Deitemeyer said. It has 55,000 associates, and it attracts more than 1 million new job applicants each year. It has $9.3 billion of revenue under management.
Aimbridge started 20 years ago with eight hotels and a single owner, Deitemeyer said. Since then, the company has seen record expansion through acquisitions and organic growth thanks to building trust and partnerships with hotel owners and brands.
"I have no doubt there’s tons of growth to still come,” he said.
Future Growth
Aimbridge has focused expertise in every vertical, from economy to luxury, Deitemeyer said. It can manage any hotel of any size, and it will continue to expand around the globe.
Aimbridge recently announced its debut in Georgia, reestablishing the company’s presence in Eastern Europe after leaving Russia, he said. The company has seen double-digit growth in the Latin American region, led by Mexico, over the past 18 months since acquiring Grupo Hotelero Prisma in 2021. There’s untapped potential for Canada, and it’s aggressively looking at deals to grow further there.
Looking to the future, Aimbridge is close to its first deals in Spain, Panama and Honduras, Deitemeyer said. It has strategic growth opportunities in Australia, the Middle East and Japan.
“We think we are — by a long shot — we’re the No. 1 third-party manager globally, or 'white label' as they like to say in Europe, only behind Marriott and Accor in total operating size, and we work with all the largest brands,” he said. “In fact, we are the largest operator in the U.S. and Canada for Marriott, and the largest global operator for Hilton, IHG and Hyatt.”
Moving forward, Aimbridge needs to continue to make its size and scale its advantage, providing services and solutions that competitors can’t, Deitemeyer said. Success requires more than being the biggest, though, he said. It means being the best at recruitment and retention, at operations, at driving performance for owners and brands.
“Earning and maintaining a positive reputation is critical because it reflects everything we do on-property and as an organization,” he said.
Employee Strategies
As part of its recruitment and retention efforts, Aimbridge has a strategy that centers around people, focus and mindset, Deitemeyer said.
People are Aimbridge’s greatest advantage, and that’s where the company is making its greatest investments, he said. Training and career development are two major areas of focus.
The company’s exploration of gig pay resulted in employees across Aimbridge accessing $25 million ahead of regular pay days in 2022, Deitemeyer said. Thousands of associates are able to share shifts between hotels within their markets. Flexible scheduling has received a positive response.
“All those benefits have led to over a 10% reduction in turnover,” he said.
The company offers its GM Connect and new Sales Connect programs, which are employee resources groups, he said. The goal is to foster a sense of community and belonging.
Focus is another imperative as Aimbridge cannot waste energy on things that won’t help it succeed, Deitemeyer said. Accountability and reliability are two hallmarks that set the company apart, he added.
Everyone has a responsibility in helping owners and brands be successful, he said. The corporate teams are there to support the on-property teams, giving them the resources they need to do their jobs.
A winning mindset is key, and it requires everyone to grow and set clear goals, Deitemeyer said. It’s not about achieving perfection; instead, it’s about continually learning and improving. Being resilient is a necessity, and everyone should remove the obstacles to keep moving forward. No one should be afraid to adjust to reach their goals.
Aimbridge Way and Actions
The “Aimbridge Way” is the company’s common language in how it talks about hospitality and how everyone treats each other, the guests and hotel owners, said Mark Tamis, president of global operations at Aimbridge. It starts with the company’s vision of how it creates a future and a new standard in hospitality.
The company’s pillars making Aimbridge a place to grow, to succeed and to belong are what support that vision, he said. Its newest addition of “Aimbridge Actions” supports the company’s values in how employees treat each other, guests and owners because it’s about how everyone works together to bring the Aimbridge Way to life.
The customer focus is first as thinking like a guest keeps guests’ perspective at the center of employees’ decision-making process, Tamis said. Gain the trust and confidence of others by being respectful and honest and demonstrating integrity and reliability. Be action-oriented by addressing challenges and opportunities with a sense of urgency and commitment to continuous improvement.
Through collaboration and “thinking we, not me,” teams can build constructive relationships and prioritize collective success, Tamis said. That includes valuing differences and embracing everyone’s diverse range of talent, perspectives, backgrounds and experiences. Leveraging those differences can lead to achieving greater outcomes.
“We talked about it all the time: a place to belong and building an environment where people where we feel valued and supported,” he said.
Self-development is key, and employees can become better every day by adopting a work-in-progress mindset and actively seeking opportunities to grow, Tamis said. Much of the Aimbridge Summit Live! conference is about self-development, spending time together learning and growing as leaders within Aimbridge, Tamis said.
“Equipping others with the feedback, direction and guidance needed to become better every day ensures accountability — holding ourselves and others responsible for actions, outcomes and commitments, setting clear expectations and delivering straightforward feedback,” he said.