Aimbridge Hospitality entered the new year with new deals signed, multimillion-dollar renovations managed and its reach expanded.
In a news release, Aimbridge, the world’s largest third-party hotel management company, highlighted its work through last year and how it set itself up for 2024.
“As the industry leader, we know the important and impactful role Aimbridge has in shaping the third-party management space — a space that has clearly emerged as the future of hospitality,” said Mark Tamis, global president at Aimbridge. “Our desire to build the best culture for our associates, strengthen our relationships with our brand partners, and deliver superior performance for our owners remains a constant guiding force.”
During the year, Plano, Texas-based Aimbridge grew its portfolio through management changes, new owners, receiverships and new-build projects in the U.S. as well as the Europe, Middle East and Africa region and Latin America.
“In 2023, we implemented a new global growth plan focused on clear alignment with owners, investors and brand partners,” said Allison Reid, chief global growth officer in the release. “Geographical and segment-based deployment, combined with added resources in development executives, data intelligence and feasibility positioned Aimbridge to provide unparalleled insights, data analytics and response times. Scale allows us to do things no one else can do and is what helps further differentiate our business model.”
Hotels Aimbridge added to its portfolio in 2023 included the Morningstar Bouy Haus, an Autograph Collection hotel; The Inn at Rancho Santa Fe; Hyatt House Houston Medical Center and Hyatt Place Houston Medical Center; VOCO Fiorello - LaGuardia East; Atlanta Marriott Peachtree Corners; and Holston House Nashville.
Aimbridge also oversaw hundreds of millions of dollars in hotel renovations and subsequent reopenings. One of the most notable of those was the reopening of the Frenchman’s Reef Resort, rebranded as the Westin Beach Resort & Spa at Frenchman’s Reef upon completion of a $425 million renovation following heavy storm damage in 2017.
Aimbridge also managed the $50 million renovation and reopening of the British Colonial Nassau, the $40 million repositioning of the Margaritaville South Padre Island and the reopening of the Queen Mary, a retired transatlantic cruise ship turned hotel.
Through 2024, Aimbridge will continue to guide several hotel construction projects, renovations and conversions. Some of those projects include the Grand Hyatt Grand Cayman and the Autograph Collection Curaçao, both of which broke ground in 2023 and are expected to open in 2025. It’s also overseeing the major property-improvement plan project and rebranding of the Millenium Hotel Minneapolis as well as the rebranding of a newly transitioned portion of its Latin American portfolio to international brands, including Sheraton and Holiday Inn.
The company grew its EMEA division through targeted strategies. Aimbridge EMEA now has an Eastern European office in Tbilisi, Georgia, and manages the Alliance Palace Aparthotel in Georgia. It also manages the Grand Luxor Hotel & Village in Spain’s Iberian Peninsula.
As part of the company’s employee attraction and retention efforts, Aimbridge processed nearly 610,000 job applications, hiring about 43,000 people. The company has embedded local recruiters in some markets, and that has helped cut down its hiring timeline to 10 days. In other markets using traditional means, it has maintained a 21-day average.
During the year, the company promoted 5,200 associates. It has also continued the initiatives it started years ago to improve employees’ quality of life, namely through flexible scheduling, shift sharing and daily pay. Aimbridge employees have accessed a combined $42 million in daily pay for 2022 and 2023.
“Our associates are a major part of our success, and another area where we’re making significant investments,” said Ann Christenson, chief human resources officer. “With an ongoing focus on recruitment, training and development, we’ve built an incredible talent pipeline and can meet a wide range of owner’s needs, from placing highly skilled general managers to activating ready-to-deploy transition teams. As we look ahead, we’ll continue to strengthen our culture and create an employment experience unlike any other in the industry.”