A shakeup at Aimbridge Hospitality. The world’s largest third-party operator announced Tuesday that its CEO, Michael Deitemeyer, is stepping down effective at the end of the year. In addition, Aimbridge CFO Thomas Song will depart November 30 for what’s being called “an external opportunity.”
In a separate move, the company announced the appointment of Stephen Joyce and Bernardo Hees to its Board of Managers. Joyce is the former president and CEO of Choice Hotels International, a position he held from 2008 to 2017. Prior to Choice he was 25 years with Marriott International. Joyce served as the CEO of Dine Brands Global, the parent company of restaurants IHOP and Applebees, from September 2017 to February 2021. He was appointed to the position after serving on the company’s board.
Since March 2022, Joyce has served as the CEO and director of Re/Max.
Hees most recently served as executive chairman of Avis Budget Group and has been CEO at companies including Burger King Worldwide Holdings, The Kraft Heinz Company and America Latina Logistica.
Deitemeyer assumed the role of president and CEO of Aimbridge Hospitality in January of 2021 after serving as global president following the company’s merger with Interstate in October 2019. Deitemeyer was president and CEO of Interstate Hotels & Resorts from 2017 until the merger and has been in the hotel industry for nearly four decades.
In a LinkedIn post, Deitemeyer wrote: “Today I announced my plans to step down as Chief Executive Officer of Aimbridge Hospitality at the end of the year. I’m pleased to have achieved many things in my tenure as CEO, but nothing compares to the pride I feel in having built such an incredible team.
Throughout my career, I’ve been lucky to have been part of many exciting changes in our industry, but I believe the best is yet to come. The third-party space is the future of hospitality, and Aimbridge is poised to lead.
I am incredibly grateful to have met and worked alongside so many talented, and wonderful people during my time leading Aimbridge—our associates, owners, brands partners, suppliers, and countless others. Thank you for the partnership and friendship. It’s been an awesome ride.”
An Executive Committee of the Board, helmed by Aimbridge Chairman Glenn Murphy, has been formed and will lead a search for what it called in a press release “a world-class CEO replacement.”
“We want to thank Mike for his contributions to building the Aimbridge legacy. Under his leadership, the company ramped up its commitment to appointing and developing top talent, led several strategic acquisitions that allowed the company to gain a foothold in new markets, and strengthened our relationship with world’s top brands. Mike’s contributions further reinforced Aimbridge’s reputation as a dominant force in the industry and positioned the company for its next phase of growth,” said Murphy in a statement.
Of Joyce and Hees, Murphy said: “The addition of Steve Joyce and Bernardo Hees to the Aimbridge Board of Managers brings unparalleled hospitality experience and corporate transformation know-how to our team. Both have proven experience in driving outsized results for companies and owners, as well as building high-performance cultures.”
According to a press release, Murphy, Joyce, Hees and Jeff Case, managing director at Advent International, will work with Aimbridge’s senior leadership team to drive performance.
“The third-party management space is the future of the industry, and Aimbridge is poised to lead the way. The company plans to supercharge growth by expanding our current capabilities and zeroing in on areas that pose the greatest opportunities to gain market share, all while delivering superior results for our owners,” Murphy said.
Aimbridge has gone through some vast and recent change. Last year, it announced a structural reorganization of its business by creating operational divisions to support its hotel owners at scale: Full Service, including resorts; Evolution Lifestyle; Enhanced Select Service; Select Service; plus, two geographically derived divisions, EMEA (its former Interstate business renamed) and LatAm. Presidents were then appointed of each division.Â
“The vertical structure we are committing to in all levels of Aimbridge is advantageous for owners, and we are able to deliver results and value in a way that exceeds expectations and sets Aimbridge apart within our industry,” said Allison Reid, chief global growth officer, who assumed her position around the same time. “The changed structure of our development team means better allocation of resources and more dedicated attention on the details that will move the needle in meaningful ways.”Â
As the world’s largest third-party operator, Aimbridge, which has a portfolio of more than 1,500 hotels globally, is looking to make a further dent in areas outside the U.S. David Anderson leads Aimbridge EMEA and is tasked with this growth. In early October, it announced it had been appointed by Santa Maria Group to manage the independent, 402-room Grand Luxor Hotel & Village resort on the Costa Blanca, marking Aimbridge’s debut in the country.
Western Europe isn’t the only region Aimbridge is looking to expand within. Prior to the Russia invasion of Ukraine, Aimbridge managed nine hotels in Moscow and exited in July 2022 in light of U.S. sanctions. Aimbridge took its corporate team and created an office in Tbilisi, Georgia, where in June 2023 it signed a management agreement with Alliance Group, one of the largest developers in Georgia, on the Alliance Palace Aparthotel in Batumi, Georgia’s second-largest city and on the shores of the Black Sea.