VANCOUVER — Aimbridge Hospitality has entered into a binding agreement with One Lodging Management to assume the hotel management responsibilities for all of American Hotel Income Properties REIT’s (AHIP) 115 hotels.
There will be a transition period with One Lodging Management’s leadership team to help ensure a smooth management transfer. The terms of the hotel management agreements will remain the same.
“This is a very positive strategic development for AHIP. As our portfolio has grown — most recently with our major acquisitions in 2017 — our need to partner with a leading external hotel management company that brings first-class experience and deep bench strength across the United States has become increasingly clear,” says Ian McAuley, president, AHIP. “We believe Aimbridge’s expertise will improve our hotel operating performance, facilitate continued growth through its extensive networks and create value for our unitholders.”
Aimbridge is the largest independent hotel investment and management firm in the U.S. and provides property-management, asset-management, development, renovation and consulting services. Aimbridge’s assumption of management responsibilities is expected to take place by the end of April 2018. The transaction is subject to customary closing conditions.