Aimbridge Hospitality Portfolio Outperformed Competition During First Half of 2021 with RevPAR Index Gains Over 2020 and 2019
The hospitality company's portfolio grew across each vertical, reflecting strong performance in the first half of 2021.
Aimbridge Hospitality, a leading multinational hospitality company, saw growth in the first half of 2021 with RevPAR index gains over 2020 and 2019.
Within the full range of the portfolio, expertise across each vertical allows Aimbridge to operate fully, understanding the nuance of each product category. As a result of the operating focus by vertical, growth is realized differently. For example, in the Luxury & Resorts, Full Service Corporate, Soft Brand/Independent and Economy verticals, competition-busting gains came from ADR compared to both 2020 and 2019, while the competitive advantage for the Extended Stay, Select Service, Select Service Enhanced and Full Service Group verticals were driven primarily by occupancy compared to both 2020 and 2019.
Mike Deitemeyer, president and CEO of Aimbridge Hospitality, said, "We are proud of the results our team delivered during the first half of the year accelerating demand. Importantly, with our expertise across all verticals, we captured the growth most profitable for each category."
Aimbridge Hospitality is entering the second half of the year with strong operating performance, with overall Market Share for June 2021 year-to-date up versus 2020 and 2019. During the first half of the year, Aimbridge transitioned or opened 118 hotels and executed another 16 new contracts for hotels not yet online.
Year to date, Aimbridge has realized portfolio growth across all verticals including:
- Full Service Corporate, JW Marriott Santa Monica Le Merigot with 131 guestrooms
- Full Service Group, Pointe Hilton Tapatio Cliffs Resort with 584 guestrooms
- Luxury & Resorts, The Island Hotel – Fort Walton with 329 guestrooms
- Select Service, Courtyard by Marriott Monterey Park with 288 guestrooms
- Soft Brand & Independent, Hotel 1000 with 120 guestrooms
- Extended Stay, Element Nashville West End, with 175 guestrooms
Earlier this summer, Aimbridge Hospitality acquired Grupo Hotelero Prisma, the largest third-party operator in Mexico, expanding its presence in the Latin American market. The acquisition saw Aimbridge gain Prisma's esteemed team and acquire 42 properties with over 7,500 rooms including the Westin Monterrey, JW Marriott Monterrey, JW Marriott Guadalajara and Tribute Tulum. In addition to Group Hotelero Prisma's alliances with large hotel groups including IHG Hotels & Resorts, Wyndham Hotel Group, Marriott International and Hilton Worldwide, it also maintains a collection of properties such as Casa Grande and Ex Hacienda San Xavier.