The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce the successful closing of the sale of our client Prism Hotels & Resorts (prismhotels.com) to Aimbridge Hospitality (aimbridgehospitality.com). Prism specializes in hotel management, resort development management, and management of hotels in receivership and Ambridge is a leading global hospitality company.
Partners Guy Maisnik and Jay Thompson led the JMBM team with Jamie Ogden working unrelentingly on the pre-closing restructure. Associate Michelle Choi also worked assiduously on the restructure and on a myriad of ancillary deal documents.
In addition to a strong presence in traditional hotel management, Prism boasts the industry-leading hotel receivership advisory and “turnaround” services involving the management and restructuring of properties that are economically distressed.
“In a year marked by immense change, it’s fitting that we announce the biggest moves in our company’s storied 38-year history,” Van said in a press release. “Close relationships have become integral to our company’s identity, and we place tremendous value in our people with whom we’ve grown together and the great properties we service. It’s with those values in mind that we have selected Aimbridge Hospitality to carry the Prism legacy forward. Aimbridge’s access to best-in-class resources and systems, coupled with their highly effective and experienced leadership team and deep understanding of our Most Satisfied Owner philosophy, makes them a perfect fit. The Prism Difference is alive and well, and we know the passion and dedication of our teams on the ground will continue to shine through this transition. We are inspired by this opportunity and excited to be part of Aimbridge Hospitality as we write the next chapter of history together. Our best is yet to come.”
“We are excited to continue Aimbridge’s growth with the acquisition of Prism.,” said Michael J. Deitemeyer, President & CEO of Aimbridge Hospitality. “With our global resources and Prism’s stellar reputation, this acquisition presents a great opportunity for all of us. We look forward to welcoming their hotels, owners and talented team to Aimbridge and taking Prism’s incredible Most Satisfied Owner approach and robust lender services arm to new heights together.”