Aimbridge Hospitality Continues Explosive Growth in Its Asia Investment Group
The Hotel Management Giant Has Also Seen 90 Percent Retention in This Portfolio.
Aimbridge Hospitality, the leading, global, third-party hotel management company, announced its Asia Investment Group executed 20 agreements in 2020, experiencing explosive growth despite a challenging year for the industry.
These new properties bring the total number of rooms in the Asia Investment Group portfolio to more than 15,000. Additionally, while the industry average retention rate holds at roughly 30 percent, Aimbridge stands well above average with a 90 percent annual retention rate for this portfolio.
"We are very pleased with what we have seen in year-over-year organic growth," said Don Li, Executive Vice President & Head of Asia Investment Group. "We started out seven years ago with just five properties and in 2020 alone added 20 more to our portfolio, thanks to our dedicated development team. Our commitment to driving peak performance remains our priority, and we are grateful to see this paying off in above-average retention rates for our partner properties."
Included in the portfolio is the new 304-room Marriott Tacoma Downtown with over 20,000 square feet of meeting and event space plus 6,500 square feet of outdoor space. The property is connected directly to the Greater Tacoma Convention Center on the ballroom level with a grand promenade that features large windows and views of the Tacoma Waterfront and Mt. Rainier. Also on-property is the M Club Lounge, an exclusive area reserved for Elite and Club paying members with perks including a range of complimentary food and beverage options featuring hot breakfast, evening drinks, and hors d'oeuvres and premium beverages throughout the day.
Breaking ground in July of this year and slated to open in 2023, Le Méridien Garden Grove's glamorous design with a modern twist will be infused throughout its 398 custom-designed luxury guestrooms and suites. The property will include the brand's innovative signature lobby concept: The Hub, complete with bar and lounge, as well as a signature restaurant and rooftop bar, well-equipped fitness center, swimming pool, on-site spa, and 39,000 sq. ft. of meeting and event space ideal for convention business, leisure and group travel.
Currently under renovation, The L.A. Grand Hotel is a sprawling 469-room property located in downtown Los Angeles with convenient access to Dodger Stadium set to reopen late in 2021.
The global leader for third-party management across all lodging verticals, Aimbridge Hospitality can be visited online at www.aimbridgehospitality.com.