US Management Group Aimbridge Hospitality Buys Mexico’s Grupo Hotelero Prisma
Main Photo: The JW Marriott Monterrey Valle, one of the Prisma hotels within the deal
Date: June 2021
Location: Mexico
Names: The Prisma portfolio includes internationally branded IHG, Hilton, Marriott and Wyndham properties as well as local brands Casa Grande and Ex Hacienda San Xavier
No. of Keys: Prisma’s portfolio of 42 properties has some 7,500 rooms.
Seller: Grupo Hotelero Prisma… hitherto the leading hotel company in Mexico, with brands operated by Grupo Hotelero Prisma including JW Marriott, The Westin, Marriott, Crowne Plaza, Holiday Inn, Hampton by Hilton and Wyndham Garden, among others.
Based in Monterrey, Grupo Hotelero Prisma employs more than 1,300 employees both in operations and corporate, sales and administrative offices. Additionally, Grupo Hotelero Prisma has central sales office in Mexico City, which provides service to more than 300 commercial accounts in 25 market segments, including finance, pharmaceuticals, oil & gas and IT.
Buyer: Aimbridge Hospitality, a leading, multinational hospitality company, HQ in the USA, will assume ownership of Grupo Hotelero Prisma, the largest third-party operator in the Mexico market. This acquisition comes on the heels of Aimbridge Co-Founder, Dave Johnson’s transition from CEO to Executive Chairman where he set out to develop the company’s transformational growth.
“We are honoured to bring in the portfolio of Grupo Hotelero Prisma and its incredibly talented team of like-minded and energetic professionals,” said Dave Johnson. “The continued expansion of Aimbridge and its alliances with the world’s top hospitality brands has been a priority for us since the early days. This new relationship sets us on a path for a successful expansion in a previously untapped market.”
Grupo Hotelero Prisma has consistently increased its portfolio through alliances with large hotel groups such as IHG Hotels & Resorts, Wyndham Hotel Group, Marriott International and Hilton Worldwide. It also maintains a collection of properties operated by national Mexican brands such as Casa Grande and Ex Hacienda San Xavier.
“Through the Prisma acquisition, we are very excited to step into an important relationship with FIBRA INN, the most significant hotel REIT in Mexico. In addition to continuing to operate FINN’s prestigious and substantial portfolio through this acquisition, we are pleased to work together to expand our respective presence across a broad spectrum of the Mexican market,” said Mike Deitemeyer, president & CEO, Aimbridge Hospitality.
Leandro Castillo, president of Prisma Division, will report directly to Deitemeyer, who took over the CEO role during Dave Johnson’s transition to Executive Chairman.
“We are excited for the opportunity to work alongside the Aimbridge Hospitality team and have our owners benefit from the expanded scale and resources,” said Leandro Castillo, president, Prisma Division. “We have made a concerted effort to align with professionals who are strategic, data-driven and analytical, and the Aimbridge team provides our Prisma properties with exactly that.”
Since its launch 18 years ago, Aimbridge has become a global powerhouse from its original portfolio of just eight properties into one of the world’s dominant hotel operator with a premium portfolio of more than 1,500 branded and independent properties in 20 countries and over 60,000 employees.
THPT Comment: Fab deal for Aimbridge to reinforce their dominant position in Mexico. Be interesting to see what this does to their numbers in 2022/23.
First Seen: Aimbridge press release
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