Aimbridge Hospitality, one of North America's largest
independent hotel management firms, and independent multinational hotel operator
Interstate Hotels & Resorts have agreed to merge. The combined company will
manage more than 1,400 branded and independent properties in 49 states and 20
countries. Global private equity investment company Advent International
acquired a majority stake in Aimbridge this year and will assume majority
ownership of the combined entity. The transaction is subject to regulatory
approval and customary closing conditions, and the parties expect it to close
by the end of the year.