Aimbridge Hospitality Enters Restructuring Deal
Skift Take
Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.
In observance of Martin Luther King, Jr. Day, there will be no Daily Lodging Report on Monday, January 20.
The DJIA fell 68 points, Nasdaq was down 173, the S&P 500 was down 13 points, and the 10-year treasury yield was down a further .05 to 4.61%. Lodging stocks were lower.
LaPour Partners and Holualoa Companies closed on the land and secured planning approval for a new dual-branded AC Hotel by Marriott (142 guestrooms) and Element by Westin (98 guestrooms). The 8-story development will feature 5,700 square feet of flexible indoor-outdoor meeting space, a saline pool, an AC Lounge, an Element Rise, outdoor fireplaces, an outdoor barbecue area, a sundry market, an AC Kitchen, and guest laundry. Located within the 100+ acre mixed-use CityNorth Master Plan in north Phoenix, Arizona, the groundbreaking for the dual-branded hotel is planned for summer 2025,
