Portfolio Acquisition

Sponsor: Aimbridge Hospitality
Capital Partner: Crow Holdings

Competencies Executed:

• Renovation
• Rebranding
• Repositioning

Transaction Summary

• Acquisition of full-service portfolio comprising of hospitality assets spread across the US.
• Non-core hotels were strategically sold off for attractive pricing following capital improvements and stabilization of the assets.
• Remaining properties received large capital infusion in tandem with conversion to Doubletree brand.
• Partnership held portfolio of core hotels for four years generating strong investment returns.

Deal Highlights

• Aimbridge Hospitality had direct relationship with the seller creating a smooth off-market purchase.
• Aimbridge Hospitality played a vital role in selecting the Doubletree brand after meticulously underwriting numerous branding scenarios.
• Following Doubletree conversions and stabilization, properties achieved significant gains in market share and operating margins.

• Strong relationship with Doubletree brand allowed for partnership to pay below-market franchise fees for majority of hold period.
• Aimbridge Hospitality oversaw the completion of over $6 million worth of Doubletree renovations which came in on-time and budget.
  • – Sponsor created value for partnership by persuading Doubletree to consent
        to nearly all of capital dollars being spent in areas visible to the guest.
• When existing capital partner was prepared for disposition, sponsor found new buyer which created a seamless transaction for all parties involved and allowed for Aimbridge and new buyer to realize additional portfolio upside.