Ropes & Gray represented Dallas-based Aimbridge Hospitality, North America’s largest independent hotel management firm and a portfolio company of Advent International, in its entry into a definitive merger agreement with Interstate Hotels & Resorts, a leading independent multinational hotel operator. The combined company will create a global leader in third-party hotel management services, and will together manage a portfolio of more than 1,400 branded and independent properties in 49 states and 20 countries. The combined company will serve some of the world’s most respected hotel brands and will be the premier employer in the hospitality industry, with more than 60,000 employees worldwide.
The transaction, announced on Aug. 29, is subject to regulatory approval and customary closing conditions and is expected to close by the end of 2019. Terms of the transaction were not disclosed. Ropes & Gray represented Advent International in its acquisition of Aimbridge earlier in 2019.
The Ropes & Gray team representing Aimbridge was led by private equity transactions partner Matthew Richards (Chicago), finance partner Jay Kim (New York), tax partner Adam Greenwood (New York), real estate partners Walter McCabe (Boston) and David Seymour (London), litigation & enforcement partners Michael McFalls (Washington, D.C.) and Ruchit Patel (London), benefits partner Jennifer Rikoski, labor & employment partner Peter Ebb, IP transactions partner Edward Black, litigation & enforcement partner James Dowden (all of Boston), privacy and cybersecurity partner Rohan Massey, and private equity transactions partner John Newton (both of London).
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