Plano, Texas-based hospitality management company Aimbridge Hospitality has acquired Dallas-based hotel management, investment and advisory company Prism Hotels & Resorts. The terms of the deal were not disclosed.
“In a year marked by immense change, it’s fitting that we announce the biggest moves in our company’s storied 38 year history,” said Steve Van, president & CEO of Prism Hotels & Resorts. “Close relationships have become integral to our company’s identity, and we place tremendous value in our people with whom we’ve grown together and the great properties we service. It’s with those values in mind that we have selected Aimbridge Hospitality to carry the Prism legacy forward. Aimbridge’s access to best-in-class resources and systems, coupled with their highly effective and experienced leadership team and deep understanding of our Most Satisfied Owner philosophy, makes them a perfect fit. ... We know the passion and dedication of our teams on the ground will continue to shine through this transition. We are inspired by this opportunity and excited to be part of Aimbridge Hospitality as we write the next chapter of history together.”
“We are excited to continue Aimbridge’s growth with the acquisition of Prism,” said Aimbridge President & CEO Michael J. Deitemeyer. “With our global resources and Prism’s stellar reputation, this acquisition presents great opportunity for all of us. We look forward to welcoming their hotels, owners and talented team to Aimbridge and taking Prism’s incredible Most Satisfied Owner approach and robust lender services arm to new heights together.”
Prism has more than 48 properties across the country. Aimbridge's portfolio has approximately 1,500 properties in 49 states and 20 countries, including its projects in the pipeline.