account executive

. June 14, 2016

FOR IMMEDIATE RELEASE

Aimbridge Hospitality Awarded Management Contract for Residence Inn Austin Airport and TownPlace Suites Austin Tech Ridge

DALLAS, TEXAS (June 13, 2016) — Aimbridge Hospitality has been awarded the management contracts for Residence Inn Austin Airport and TownPlace Suites Austin Tech Ridge.

The developer, Bedford Lodging, chose Aimbridge Hospitality as the management firm for the properties, both of which are geared toward extended stay business travelers seeking convenience and value.

“Our two newest properties are located in prime areas of Austin, Texas and we expect significant growth opportunity with these additions,” said President of Bedford Lodging, Jeff Blackman. “We are excited for this first-time partnership with Aimbridge Hospitality and look forward to an on-going successful relationship.”

Residence Inn Austin Airport, slated to open July 25, is only two miles away from Austin-Bergstrom International Airport and is the sixth Residence Inn by Marriott in the Austin Metropolitan Statistical Area. The 120-room room hotel is a 60-acre development and will have 40 acres of industrial space and 20 acres of retail space totaling roughly $90 million. A short distance from the airport shuttle, the hotel is close to I-35, within seven miles of downtown Austin and offers easy access to the convention center.

In addition, the hotel features spacious suites with full kitchens and separate living, working, and sleeping areas. Key amenities include free high speed internet, complimentary breakfast and a pet friendly environment.

The second hotel being developed by Bedford Lodging, TownPlace Suites Austin Tech Ridge, is set to open in October and will be conveniently located along W Canyon Ridge Drive less than a 1⁄4 mile from Interstate 35. The hotel will be part of the retail development near the airport on a 2.5-acre site. The development plan is to construct a 4-story, 61,600 square foot, 112-suite hotel on the site. Located within 11 miles of several attractions including the 6th Street Entertainment District, State Capitol and Downtown Austin, the hotel will feature spacious suites designed for longer stays, with separate living and sleeping areas for guests to work and relax. The brand's goal is to provide guests with a simple, comfortable, no frills experience. Its spacious suites with full kitchens, separate sleeping areas and comfortable seating are targeted towards value conscious travelers. The fully equipped kitchens include a full-sized refrigerator, stove, microwave and coffee maker. For more information, please visit Marriott.com/hotels or Towneplacesuites.marriott.com.

About Aimbridge Hospitality Aimbridge Hospitality, LLC is one of the nation's largest independent hotel investment and management firm's with a proven track record for delivering superior returns for its investors in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services across all STR chain scales. Based in Dallas, Texas and with additional offices in Chicago and Puerto Rico, Aimbridge currently manages over 450 upscale, independent and branded hotels and resorts with over 63,000 guestrooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Hyatt, Embassy Suites, Starwood, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Wyndham, and InterContinental systems as well as their respective newly launched soft brands. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.

About Bedford Lodging Jeff Blackman formed Bedford Lodging in 2013 to leverage his long-standing industry relationships and expertise in all facets of the lodging business including development, management, asset management, acquisition, due diligence assistance, and advisory services. The company was created to strategically develop and acquire select service hotel assets and currently has one hotel under construction in El Paso, TX and four projects in various stages of pre-development. For more information on Bedford Lodging, please visit www.bedfordlodging.com.