First read is on us.

To keep up with the latest on the travel industry, subscribe today.

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, with an estimated completion date of January 2027.

Benchmade Ventures, the developer of a SpringHill Suites by Marriott hotel under construction in downtown High Point, North Carolina, said the project is scheduled to open by September 2025. The 4-story hotel will include 128 guestrooms and retail space on the ground floor. The total project cost of the hotel is anticipated to be about $25 million.

Braemar Hotels & Resorts Inc. has extended its mortgage loan secured by the 170-room Ritz-Carlton Lake Tahoe. The loan had an initial maturity date in January 2025 and continues to have a final maturity date in January 2026. The loan has been extended with a paydown of $10 million, and the spread on the loan is now SOFR + 3.25%.

A new downtown Indianapolis hotel will open its doors in February. The 128-room Aloft Hotel by Marriott will have a fitness centerWXYZ Bar, and a market.

Hotel Alpenrock Breckenridge, Curio Collection by Hilton will hold its grand opening this month in Breckenridge, Colorado. Located on Peak 9, Hotel Breckenridge offers 205 guestrooms, including 24 suites, three dining experiences, a fitness center, Café & Market, and an onsite Breckenridge Sports retail and rental shop.

Tempo by Hilton Raleigh Downtown, the first brand flag to make its debut in North Carolina, has officially opened in Raleigh along with its sister property, Homewood Suites by Hilton Raleigh Downtown. Owned by CN Hotels and managed by McKibbon Hospitality, the dual-branded hotel offers 261 guestrooms. Tempo by Hilton Raleigh Downtown offers 127 guestrooms, a fitness center, wellness guestroom options, and a Hydration BarHomewood Suites by Hilton Raleigh Downtown features 134 suites, a fitness center, multiple dining options, and 3,300 square feet of flexible meeting space.

Avion Hospitality has been awarded management of the newly rebranded Hotel Savoy Kansas City, Tapestry Collection Hotel by Hilton, located in Kansas City, Missouri. The former 21c Kansas City underwent a transformation and features an onsite restaurant.

With a new Hampton Inn hotel coming to East Peoria, Illinois, the city’s existing Hampton Inn will operate under a new name. Frontier Hospitality Group entered into an agreement with the City of East Peoria to build a new Hampton Inn on an undeveloped parcel of city-owned land. The company plans to start building in the spring of 2025 and will hopefully open in the spring or summer of 2026. The new Hampton Inn location will have between 90 and 110 rooms. The current Hampton Inn, located near the Par-A-Dice Hotel Casino, is owned by George Johnson, who indicated that the hotel would be remodeled this year and will continue operations under one of Hilton’s other brands.

The owner of the 27-story, 544-room Hilton San Francisco Financial District hotel has been issued a termination notice by its lender after failing to pay more than $100 million worth of debt for the second time in two years, according to an SEC filing. The owner, Justice Operating Co., failed to meet an extended deadline of January 1 to pay back a remaining total balance of around $106 million on a mortgage loan and mezzanine loan. The termination notice allows the lender to foreclose on the property. The hotel owner took out the loans from Bank of America in 2014.

Crestline Hotels & Resorts LLC has assumed management of Five Senses Hospitality’s portfolio, which includes 13 hotels in ColoradoKansas, and Arkansas, totaling 1,240 keys. In addition to the existing portfolio, Bedford Lodging, owner of six hotels in the portfolio, has engaged Crestline to manage an additional hotel currently under construction and scheduled to open later this year, a Tapestry by Hilton Hotel in Ft. Worth, Texas.

Aimbridge Hospitality has entered into an agreement with support from its lenders that would right-size the company’s balance sheet by converting more than $1.1 billion in debt to equity and infusing $100 million in new capital. The implementation process for the restructuring is underway and expected to be completed in the first quarter of 2025. Hotel News Now reported that Aimbridge’s first lien lenders will become the company’s majority owners at closing. The agreement has the support of 80% of Aimbridge’s first lien lenders, 100% of its second lien lenders, and existing sponsor Advent International, which acquired majority ownership of the company in 2019.

What was once an old cereal factory in East London, Ontario, is on the cusp of opening as a $100+ million, 164-room Hard Rock Hotel. The HRH London will open with 164 rooms in its first phase, with plans to expand to 353 rooms in the second phase. Features include three dining outlets and retail spaces such as the Rock Shop. The HRH London will be part of Canada’s biggest tourism destination, Kellogg Lane.

Denizen Hotel announced its official opening in District 121 of McKinney, Texas. The property offers 102 guestrooms, a communal living room, indoor and outdoor seating areas, a communal pantry, fitness center, and guest laundry facilities. The Denizen Hotel is developed and owned by Archstreet Hotel Partners LC and managed by Aimbridge Hospitality.

Construction on the Great Wolf Lodge at Foxwoods, in Ledyard, Connecticut, is anticipated to open May 23. The 23rd Great Wolf resort in North America will include 549 hotel rooms, a 91,000-square-foot water park, and a 61,000-square-foot family entertainment center.

Drury Hotels announced its newest hotel is now under construction in Pigeon Forge, Tennessee. The resort-style hotel is the sixth Drury Hotel in Tennessee and is now accepting reservations for September 19, 2025, and beyond. The new Drury Plaza Hotel will offer more than 250 guestrooms, onsite dining, business and fitness centers, an indoor pool and splash pad, and an outdoor spa.

Pacific Hospitality Group, in partnership with Berger Holdings and JWG Investments, announced the groundbreaking of its newest independent lifestyle hotel under the Meritage Collection. The 236-room hotel will offer 23,000 square feet of premium meeting and event space, a restaurant and bar, a rooftop bar and pool deck, a luxury spa, a fitness center, and an upscale café. The construction financing for the project is being provided by First International Bank and Trust.

Placemakr introduced its first property in Pittsburgh. The location offers short-term, hospitality-style stays and residential leases under the names Placemakr Downtown Pittsburgh and The Pennsylvanian, respectively. Placemakr will start operating The Pennsylvanian immediately, while hospitality stays will be available from Q2 2025. The property boasts over 240 units, a mix of furnished and unfurnished options. The Pennsylvanian also houses a popular wedding venue now managed by Placemakr.

The Villatel Orlando Resort will open on March 3, 2025. The 80-acre resort features a waterpark, various dining options, a fitness center, and sports facilities. The resort offers two types of accommodations: the Villas and the nation’s first Apartments by Marriott Bonvoy Resort, set to open in early 2025.

Mumford Company announced it had a strong finish to 2024 with a series of key hotel transactions across multiple states. Some of the transactions include the 125-room Hampton Inn ManassasManassas, Virginia; 103-room Hyatt Place Rogers/BentonvilleRogers, Arkansas; 71-room Holiday Inn Express & Suites FairmontFairmont, West Virginia; 81-room Comfort Suites at Isle of Palms ConnectorMount Pleasant, South Carolina; and the 24-room Motel 6 Colorado CityColorado City, Texas.

HVS Brokerage & Advisory announced the sale of the 50-key Alister Square Inn located in Port Aransas, Texas. The property was purchased by Bhavani Investments, LP from Alister Square Inn, Ltd.

Marcus & Millichap Capital Corporation arranged $3,660,000 in financing for the acquisition of The Potter Hotel in San Francisco, CaliforniaMMCC’s San Francisco office secured the financing with a local mortgage fund on behalf of a private client. Terms of the one-year loan include full-term interest-only at a 9.75% rate. The property has four floors and three commercial units in addition to its 105 guestrooms.

Zemi Miches All-Inclusive Resort, Curio Collection by Hilton, is now accepting reservations for stays beginning June 30, 2025. Zemi Miches will be the first all-inclusive property in the Dominican Republic under the Curio Collection by Hilton brand. The brand-new 500-room beachfront resort will feature over 11 dining and bar venues, swim-up bars, a kids and teens club, a rooftop pool, a pool complex with a waterpark, over 1,000 square feet of indoor and outdoor event space, a spa with 11 treatment rooms, a salon, and a sauna, as well as a fitness center with a juice bar, yoga, and fitness classes.

BWH Hotels will expand to the Dominican Republic with the upcoming opening of La Estancia, BW Premier Collection in the scenic La Romana. The property recently broke ground and will open in 2026. La Estancia will feature more than 60 guestrooms spread throughout four floors, with 40 additional keys to be added soon. The hotel will complement the existing La Estancia Golf Resort. Amenities include a lobby, a bar & grill, a cigar bar, a golfer’s bar, and a meeting space. A new gym, pool, outdoor bar, and tennis courts will be added. The fourth-floor rooftop will also become an event space.

Personnel Moves

DiamondRock Hospitality Company appointed Stephanie Lepori to the board, effective January 15, 2025, increasing its size from eight to nine members. Ms. Lepori currently serves as Chief Administrative and Accounting Officer at Caesars Entertainment, Inc. She also oversees all functions of human resources.

Woodworth Core Group announced Timothy J. Dick, PhD has joined the firm in their Atlanta office as executive vice president. Before joining Woodworth Core GroupDick was executive vice president with CBRE.

Rosen Hotels & Resorts unveiled a new leadership structure that includes the promotion of many long-term associates. Effective immediately, Jose Rose, who is a vice president on the company’s board of directors, has been elevated to executive vice president of operations. Jack Rosen and Shayna Rose are now vice presidents on the company’s board of directors. Both currently serve as members of the Rosen Hotels & Resorts Advisory CommitteeJack will also continue to serve as the manager of design and brand strategies. Derek Baum has been promoted to vice president of facilities and building operations. Jim Bina has been promoted to vice president of finance. Dan Giordano has been promoted to vice president of corporate planning and development. Giordano remains on the company’s advisory committee. Dorea Mays has been promoted to vice president of human resources. Mays will continue her role on the company’s advisory committee. Jennifer Rice-Palmer has been promoted to vice president of guest contact and will continue to lead guest contact center operations while serving on the company’s advisory committee. Glenn Rose has been promoted to vice president of construction and owner’s representative. He remains on the company’s advisory committee.

Europe Highlights

Hilton announced plans to open four new hotels in Lyon, France, through franchise agreements with Arteloge. These plans include the debut of the Spark by Hilton brand in the country and the addition of a second DoubleTree by Hilton Hotel in Lyon. The Spark by Hilton Lyon Ouest and Spark by Hilton Lyon Park Saone are scheduled to open in late 2025, while the Spark by Hilton Lyon Eurexpo is planned for summer 2026. The DoubleTree by Hilton Lyon Plage is expected to welcome guests in 2028. The four hotels will provide a total of 655 rooms.

Up Next

Hilton Hotels & Resorts

Hilton Announces Better Than Expected Earnings

Hilton's strong earnings report boosted lodging stocks, eased election concerns, and led analysts to raise 2025 capital return expectations.
21c Museum Hotel

U.S. Hotel Revenue Projected to Grow in 2026 and 2027

CoStar forecasts modest U.S. RevPAR and ADR growth through 2027—with luxury and upper upscale segments leading—despite real RevPAR remaining below 2019 levels.
Vacasa

Truist Lays Out Projections for Earnings Season

Vacasa is reviewing an unsolicited $5.25-per-share acquisition proposal while maintaining its existing merger with Casago at $5.02 per share, with its board recommending the merger as it evaluates whether the new bid is superior.
AC Hotels by Marriott

Peachtree Group Has 48 Properties in Development

Peachtree Group has surpassed $2 billion in hotel development across 48 nationwide projects, including new builds in Alabama, Dallas, and multiple Qualified Opportunity Zone developments.
Omni Hotels & Resorts

Omni Signs $575 Million New Orleans Hotel Deal

Omni Atlanta Hotel announced renovations, while Omni Hotels & Resorts secured approval for a $575 million headquarters hotel in New Orleans.