Aimbridge Expands Partnership with Garrison Group, Announces Three Management Deals
DALLAS - April 27, 2012 - In its growing partnership with Garrison Investment Group, Aimbridge Hospitality is excited to announce that it is now managing three hotels that Garrison has invested in: the Crowne Plaza Hotel North Dallas, Four Points by Sheraton Orlando-Studio City and the Park Inn by Radisson Dallas Love Field.
Dave Johnson, President and CEO of Aimbridge Hospitality, is thrilled about the three transactions with Garrison and looks forward to working together to capitalize on recent renovations to the properties to increase their value.
“Garrison Investment Group has an exceptional track record as a force in the investment sector, and we are privileged to partner with them. Our goal in working with Garrison is to deliver the best possible guest experience while maximizing profit and growth for our client,” said Johnson. “We believe that in doing so; this collaboration will be valuable for both Garrison and Aimbridge as we move forward to pursue investment and management opportunities together.”
Chuck Pomerantz, with Garrison Investment Group, believes that their partnership with Aimbridge will be beneficial for all parties involved.
“We are thrilled to bring the sales and management expertise of Aimbridge Hospitality to these three properties,” said Pomerantz. “Garrison appreciates the market knowledge and operations proficiency that Aimbridge possesses and looks forward to what the Aimbridge/Garrison partnership will bring to both the current hotels and future investment opportunities.”
Located in the heart of the North Dallas-Addison area, the 429-room Crowne Plaza Hotel features nearly 32,000 square feet of event space, two fitness centers, an outdoor pool and onsite dining. The hotel recently underwent a $7 million renovation to improve all areas of the hotel. The Crowne Plaza North Dallas is Aimbridge's third InterContinental Hotel Group branded hotel.
The Park Inn by Radisson is conveniently located just off of I-35 near Dallas Love Field Airport and downtown Dallas. The 296-room hotel offers wireless internet to its guests in addition to a fitness center and outdoor pool, onsite restaurant and 16,000 square feet of versatile meeting space.
The Four Points by Sheraton Studio City in Orlando is Aimbridge Hospitality's most recent venture with Garrison Investment Group. The hotel, which recently underwent a $3 million renovation, is located across from Universal Orlando Resort. Garrison engaged Aimbridge to turn around the under-performing property, and Garrison firmly believes that choosing Aimbridge will get the property back on track.
The Four Points by Sheraton Studio City Orlando hotel represents Aimbridge Hospitality's eighteenth Starwood branded asset.
“Not only are we eager to expand our partnership with Garrison Investment Group, but we are also excited about the continuing relationships we have with Starwood and IHG and our newly established relationship with Park Inn by Radisson,” said Johnson. “The addition of these two hotels and also the Park Inn by Radisson brand strengthens our portfolio and reputation as one of the nation's leading independent hotel investment and management firms.”
For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.
About Aimbridge Hospitality Aimbridge Hospitality is one of the nation's leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas and with development offices in Chicago, Dallas and Puerto Rico, Aimbridge currently owns and/or manages over 80 upscale, independent and branded hotels with nearly 15,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.
About Garrison Investment Group New York City based Garrison Investment Group is a leading investor that provides solutions and capital to credit and asset-based investment opportunities. Garrison's investment vehicles include Hedge Funds, Private Equity Format Funds and Managed Funds. With more than 50 employees, Garrison sources and executes transactions across corporate, real estate and financial assets. Garrison Investment Group invests predominantly in loans and actively makes investments in the current market environment. For more information, please visit www.garrisoninv.com.
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