Aimbridge Hospitality’s Merger with Interstate Hotels & Resorts

Goldman Sachs & Co. LLC and Moelis & Company LLC acted as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Interstate. Ropes & Gray LLP acted as legal advisor to Aimbridge.

Dallas-based Ambridge Hospitality is the North America’s largest independent hotel management firm and a portfolio company of Advent International.

Interstate Hotels & Resorts is a leading, global, third-party hotel management company, operating branded full service, select service, luxury hotels, destination resorts, convention centers and lifestyle hotels.

The companies entered into a definitive agreement to merge, creating a global leader in third-party hotel management services.

The combined company will manage a portfolio of more than 1,400 branded and independent properties in 49 states and 20 countries.

The combined company will serve some of the world’s most respected hotel brands and will be the premier employer in the hospitality industry, with more than 60,000 employees worldwide.

Together, it is expected that Aimbridge and Interstate will have the scale, resources and global reach to reinforce their leading hospitality offerings, continue delivering superior financial and investment performance for hotel partners and create positive experiences for guests. Hotel owners will benefit from a scaled, global platform; enhanced data and analytic capabilities; a top talent pool; and increased support and resources, including sales, marketing, ecommerce and revenue management infrastructure. This enhanced offering will position the combined company for further growth and international expansion.

Terms of the transaction were not disclosed.

Ropes & Gray represented Ambridge with a team led by private equity transactions partner Matthew Richards (Picture), finance partner Jay Kim, tax partner Adam Greenwood, real estate partners Walter McCabe and David Seymour, litigation & enforcement partners Michael McFalls and Ruchit Patel, benefits partner Jennifer Rikoski, labor & employment partner Peter Ebb, IP transactions partner Edward Black, litigation & enforcement partner James Dowden, privacy and cybersecurity partner Rohan Massey, and private equity transactions partner John Newton.

Involved fees earner: Edward Black – Ropes & Gray; James Dowden – Ropes & Gray; Peter Ebb – Ropes & Gray; Adam Greenwood – Ropes & Gray; Jay Kim – Ropes & Gray; Rohan Massey – Ropes & Gray; Walter McCabe – Ropes & Gray; Michael McFalls – Ropes & Gray; John Newton – Ropes & Gray; Ruchit Patel – Ropes & Gray; Matthew Richards – Ropes & Gray; Jennifer Rikoski – Ropes & Gray; David Seymour – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Aimbridge Hospitality Holdings;

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Author: Ambrogio Visconti