Aimbridge goes from zero to 57 in six years

NEW YORK—Although the recession has slowed portfolio growth for many hotel management companies, Aimbridge Hospitality sees it only as a speed bump and is again pressing the accelerator.

The investment and management company has opened 57 properties since its inception in 2003, and five more properties are currently under construction, with three set to open by the end of this year.

“We’re pretty proud of that,” said Dave Johnson, president and CEO of Aimbridge Hospitality. “We’ve had some pretty monumental growth.”

Most of Aimbridge’s portfolio is made up of hotels in the select- and full-service market, including Marriotts, Hiltons, Embassy Suites and Doubletrees. Johnson said they are the largest manager of the Doubletree brand. Out of their 57 assets, Aimbridge has a direct investment in 47.

By the end of 2009, the company plans to add three more hotels to its open portfolio: aloft Houston Galleria, Houston Embassy Suites Energy Corridor and Cambria Suites Roanoke. They will also manage an Element in Omaha set to open in 2010.

“Right now is just a tough time to be opening hotels,” Johnson said. “But we’ve already opened two assets this year that were new construction, and we’ve got three more to open the rest of this year.

“We’re kind of jazzed about the next window of time,” he continued. “We don’t think it’s this year. But now that we’re in a difficult operating environment, we’re seeing a lot of opportunity.”

jfreed@questex.com