News for the Hospitality Executive
Aimbridge Hospitality Appoints Richard Sprecher
to Vice President, Business Development
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.
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
|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|