PRISM HOTELS & RESORTS ACQUIRED BY AIMBRIDGE HOSPITALITY

DALLAS, Dec. 14, 2021 /PRNewswire/ -- Dallas-based Prism Hotels & Resorts, an award-winning, full-service hotel management, investment and advisory services company representing more than 48 properties across the country, has been acquired by Aimbridge Hospitality, a leading global hospitality company. The terms of the deal will not be disclosed. The announcement was made by Steve Van, President & CEO of Prism Hotels & Resorts and Aimbridge President & CEO Michael J. Deitemeyer.

In addition to a strong presence in traditional hotel management, Prism boasts the industry leading hotel receivership advisory and "turnaround" services involving the management and restructuring of properties that are economically distressed.

"In a year marked by immense change, it's fitting that we announce the biggest moves in our company's storied 38 year history," Van said. "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. The Prism Difference is alive and well, and 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. Our best is yet to come."          

 "We are excited to continue Aimbridge's growth with the acquisition of Prism.," said Michael J. Deitemeyer, President & CEO of Aimbridge Hospitality. "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."

About Prism Hotels & Resorts
As an award-winning, full-service hotel management company, Dallas-based Prism Hotels & Resorts has developed a reputation for operational excellence by increasing hotel performance and delivering measurable results. Recently, Prism was selected as 2021 Strategic Partner by Hyatt. The company was also named Best Full-Service Operator in The Americas by Hyatt, received back-to-back Connie Pride Merit Awards from Hilton, and earned Franchise Hotel of the Year for the Hyatt Regency LAX. With 35 years of experience, Prism leverages top industry talent to produce a best-in-class experience that extends from the front desk to the bottom line. Prism manages a portfolio of over 30 hotels from multiple institutional and private owners including urban, suburban and resort destinations. The company has expertise managing all major brands as well as independent destination hotels. For more information, please visit www.prismhotels.com.

About Aimbridge Hospitality
Aimbridge Hospitality is a leading, global hospitality company offering best-in-class hotel management services across a broad spectrum of franchised branded full service, select service, luxury hotels, destination resorts, convention centers and lifestyle hotels. Aimbridge's premium portfolio represents approximately 1,500 properties in 49 states and 20 countries, inclusive of pipeline. With the most robust brand diversity in the industry, Aimbridge and its affiliates represent 84 lodging brands, in addition to more than 82 independent boutique/lifestyle hotels in the portfolio. As the world's largest third-party operator, Aimbridge is dedicated to its mission to leverage its scale to add value for owners and opportunities for associates better than any hospitality operator. Aligned with a concentrated focus, agility, and expertise for each vertical, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality's global headquarters is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico, and Washington, D.C. Evolution Hospitality, Aimbridge's Lifestyle Division, is based in San Clemente, Calif. Aimbridge's International Division, Interstate Hotels & Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow. The company's division in Mexico, Group Hotelero Prisma, has offices in Monterrey and Mexico City. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.

SOURCE Aimbridge Hospitality