Aimbridge Hospitality Retained to Manage Six Platinum Equity Hotels
Tuesday June 26th, 2012 - 9:22AM
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LOS ANGELES—An affiliate of Platinum Equity has retained Aimbridge Hospitality to manage six of its hotels in Florida, Minnesota, North Carolina and Texas.
Aimbridge Hospitality will manage The Holiday Inn San Antonio International Airport, Sheraton Suites Cypress Creek in Fort Lauderdale, Embassy Suites Downtown St. Paul, DoubleTree Suites Tampa Airport-Westhore, DoubleTree Suites in Raleigh-Durham and the Embassy Suites Boca Raton.
Meridian Capital Group, LLC negotiated an $85-million acquisition and construction loan in connection with the investment.
The Platinum Equity affiliate acquired the hotel operations in May. Platinum Equity’s strategy for this investment included replacement of the management company overseeing day-to-day operations at the hotels.
Tags: Hospitality Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.