AIMBRIDGE COFOUNDER DAVE JOHNSON IS COUNTING ON SCALE TO POWER HIS FIRM
PAST THE PANDEMIC .
THE PEOPLE ISSUE
Dave Johnson is the cofounder of Aimbridge Hospitality
SURVIVAL
OF THE
BIGGEST
AIMBRIDGE COFOUNDER DAVE JOHNSON IS COUNTING ON SCALE TO POWER HIS FIRM
PAST THE PANDEMIC .
Contributed by MEGAN ROWE
After 18 years as chief executive officer of
Aimbridge Hospitality , Dave Johnson handed the reins to Mike Deitemeyer at the end of 2020 , taking on a new role as chairman . Deitemeyer was president and CEO of Interstate Hotels and Resorts before its 2019 merger with Aimbridge , and Johnson saw in him someone well equipped to step up , freeing Johnson to concentrate on building the business .
“ With [ Deitemeyer ] in that position , I can focus 100 % of my time playing offense ,” Johnson says . Offense in this case means transformational growth , something the company plans to achieve by cultivating capital markets , mergers and acquisitions , and new vertical niches .
Johnson , who cofounded Aimbridge 18 years ago , clearly understands how to get the job done . Under his leadership , Aimbridge ’ s portfolio expanded from eight properties to more than 1,500 hotels owned and managed across 49 states and 21 countries .
COVID-19 fallout will likely boost his efforts . The impact has already been felt ; in the past year alone — in spite of or perhaps because of the pandemic — Aimbridge has picked up nearly 200 new management contracts . And Johnson says Aimbridge is close to announcing two deals in Mexico and Canada that together will bring about 70 additional assets into the fold .
Hotel mergers and acquisitions will continue , he says , but Aimbridge is also eyeing new vertical markets , including multifamily and senior living operations , where it can leverage its technology and operations expertise .
TOO BIG TO FAIL Johnson is a firm believer that size matters . “ I made a big bet on scale five years ago ,” he says , backing that up with a series of mergers and acquisitions that created the largest third-party management company . He estimates Aimbridge is now seven times larger than its next-largest competitor . That heft supports investments in personnel and technology and brings bargaining power to negotiate better deals on items like insurance .
Scale has also bolstered Aimbridge ’ s ability to help owners navigate the pandemic crisis . The corporate team has remained largely intact over the last year , continuing to provide centralized services