Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Industry NewsAimbridge Grows Portfolio and Expands Platform for Stabilizing Distressed Assets

Aimbridge Grows Portfolio and Expands Platform for Stabilizing Distressed Assets

DALLAS—Aimbridge Hospitality recently announced continued portfolio growth and the expansion of its Aimbridge Receiver Services (ARS), which focuses on stabilizing hotels with distressed debt and recovering lost value due to the ongoing challenges in the hospitality industry.

Year to date, Aimbridge has added 128 properties to its portfolio and is on track to add another 120 properties in the next 120 days. Added properties include the Hilton Boston Downtown Faneuil Hall, The Murieta Inn and Spa in California, the Renaissance Charleston Historic District in South Carolina, the Hyatt House/Hyatt Place in Chicago, and the Courtyard Fort Lauderdale Beach in Florida.

In addition to growing its portfolio, Aimbridge Hospitality is expanding its Aimbridge Receiver Services (ARS), a new platform providing lenders and special servicers the expertise and assistance in navigating distressed assets. The platform is solely dedicated to hotel distressed assets, and Aimbridge has an ARS specialized team to handle all functions including, legal, operations, receivership, financial reporting, and franchise negotiations.

“We learned from previous financial downturns that working with lenders and special servicers is not a part-time effort. We created ARS with dedicated, seasoned veterans who have the experience of over 200 previous distressed assignments,” said Dave Johnson, CEO, Aimbridge Hospitality. “This capability allows us to leverage Aimbridge’s scale for the benefit of the financial community.”

The ARS team uses the company’s resources and data to quickly assess and execute strategies to stabilize and rapidly reposition hotels. The team assists lenders, servicers, and hotel owners with their non-performing hotel loans going through foreclosure, bankruptcy, workouts, and receivership. They offer court-appointed receivership services, the recommendation of immediate cost containment strategies, workout strategies, brand assessment and negotiation, and asset disposition assistance.

 


Subscribe to Lodging Daily News for updates.

SUBSCRIBE

RELATED ARTICLES