Aimbridge Hospitality is the largest third-party management company in the world. This week, it announced that it will establish a new Miami division to manage all-inclusive hotels. The move was made to return to growth following a financial restructuring which cleared more than $1 billion of debt.
“We lost our way for some time,” said Aimbridge CEO Craig S. Smith. He joined the company last year as the leader of its turnaround.
Aimbridge targets an enormous market. Marriott and Hilton are major hotel groups that have moved away from managing hotels directly in favor of franchises. Aimbridge’s growth was largely driven by acquisitions. But the pandemic disrupted its operations, making it more difficult to service debt.
Smith, who has spent 35 years in the military.
