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Aimbridge Hospitality Appoints Richard Sprecher
to Vice President, Business Development

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Opens New Business Development Office in Chicago

 
Dallas – July 07, 2009 – Aimbridge Hospitality, one of the nation’s leading independent hotel investment and management firms, announces the appointment of Richard Sprecher to Vice President, Business Development.  Sprecher will be responsible for identifying new business relationships and securing new third-party management contracts for the company.

The recent addition underscores Aimbridge Hospitality’s commitment to add key personnel despite a challenged economy. Due to its proven success in operating and repositioning distressed hotels, Aimbridge Hospitality is “powering up” for its next wave of growth.

“The down economy is actually creating opportunity for us,” said Dave Johnson, President and Chief Executive Officer of Aimbridge Hospitality. “We are seeing a lot of opportunities in the third-party management arena because of our history as proven operators. We believe Aimbridge Hospitality will continue to grow at an unbelievable pace and we are honored to have Rich Sprecher join our team as we prepare for this growth.”

Sprecher brings with him 35 years worth of knowledge and experience in the hospitality industry, most recently serving the past 18 years as director of franchise sales for Choice Hotels International. Sprecher has been a senior hotel executive and dealmaker in all areas of hospitality. While at Choice, he sold more than 200 hotel franchises, generating initial fees of more than $7 million. He also directed and was involved in the opening of new properties from 115 units to 320 units in the full-service, luxury and limited-service hotel sectors. Prior to joining Choice he served as Regional Director of Operations for Amerihost Properties.

Sprecher’s primary focus at Aimbridge Hospitality will be on expanding its portfolio with third-party management contracts and capitalizing on the current market of owners and lenders in need of a strong management presence to turnaround distressed assets, said Lynne Roberts, Senior Vice President of Development.
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“Sprecher is a great addition to our existing strong executive team,” Roberts said. “Considering his experience in the hotel industry, coupled with his wealth of experience working with various owners, consultants, real-estate brokers and lenders in putting together deals over the last two decades, Rich fits into this new role perfectly.”

While many hotel companies are struggling today, Aimbridge Hospitality is quickly growing. In the last 12 months, Aimbridge opened six new properties with three more scheduled to open before the end of 2009. It also recently added two new management contracts to its portfolio, with several others in negotiations.

Sprecher, who will operate out of the company’s newly opened Chicago office, said he sees his new position as an opportunity to ensure Aimbridge is poised to take advantage of the next stage in this economic cycle.

“The company’s phenomenal and continued growth speaks for itself,” he said. “In fewer than six years, Aimbridge Hospitality has established itself as a premier hotel management and investment organization with a portfolio of 57 hotels. You have to admit, that’s a very impressive track record.”

About Aimbridge Hospitality
Aimbridge Hospitality is a hotel real estate and management company created to identify investment opportunities throughout the United States. Aimbridge provides management, asset management, capital renovation, supervision, accounting and consulting services for its strategic partners. Aimbridge currently operates hotel properties in the Embassy Suites, Doubletree, Hilton Garden Inn, Hampton Inn & Suites, Sheraton, Hyatt, Hilton, Marriott and Wyndham brands. Aimbridge also manages a number of independent hotels, including the Phoenix Inn & Suites brand of hotels and has several projects under development in the Starwood, Marriott and Hilton enterprises. For more information on Aimbridge Hospitality, please visit the company’s Web site at www.aimbridgehospitality.com.

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Contact:

Barb Worcester
President/Principal
PRPro
Tel: (440) 930-5770
barbw@prproconsulting.com
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Also See: Aimbridge Hospitality Promotes Robert Burg to Executive Vice President, Chief Operating Officer; Recognized for his Role in Growing Company from 8 Hotels in 2003 to 42 Hotels in 2008 / June 2008
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