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Aimbridge EMEA strengthens its extended stay portfolio with Residence Inn by Marriott signing

Aimbridge EMEA strengthens its extended stay portfolio with Residence Inn by Marriott signing

March 25, 2024 | Community, News, Openings, Our Team, Signings


Aimbridge Hospitality EMEA has been named as the new third-party operator behind the Residence Inn by Marriott hotel in Manchester, strengthening its extended stay hotel portfolio in the UK and Europe.

The 155-room property, owned by Park Hotels Holding (PHH) and asset managed by Ciel Capital, transitioned to Aimbridge EMEA – a division of global hospitality management leader Aimbridge Hospitality earlier this month.

The aparthotel is located in Manchester’s Northern Quarter and reopened as a Residence Inn last year following an extensive refurbishment.

It comprises a mixture of studios and one-bedroom suites, all with fully equipped kitchens, across 12 floors, lounge areas, gym and laundry facilities as well as a bar and restaurant with grab-and-go.

Aimbridge will bring its operational expertise and talent development to the Manchester property, with a focus on memorable guest experience and property performance.

David Anderson, Divisional President at Aimbridge EMEA, said: “We’re excited to welcome the Residence Inn by Marriott in Manchester to our UK portfolio, expanding our presence in the extended stay market, which is growing fast as people seek out quality accommodation for longer trips, often combining business with leisure.

“We already manage multiple extended stay properties across the UK and Europe, and across multiple brands, and we’re well adept at driving success within this vertical.

“With the robust resources available to us, including access to top talent and data insights coupled with a keen understanding of delivering on brand standards, we are equipped to support owners in a truly unique way that accelerates the development and performance of properties, creating great experiences for guests as well as superior returns for both owners and investors.”

The extended stay vertical continues to grow for Aimbridge, with the Residence Inn signing in Manchester joining other extended stay properties within its portfolio across Europe, with brands including Accor’s Adagio, IHG’s Staybridge Suites, and further Residence Inn by Marriotts in both Ghent and Sarajevo.

According to the Future Market Insights Extended Stay Hotel Market Size report*, the global extended stay market is currently worth an estimated $54.5billion dollars, estimated to grow by 11 percent to more than $116billion by 2033.

Gilbert Grosjean of PHH, said: “We’re delighted to expand our relationship with Aimbridge and look forward to working together to take the asset through to stabilisation.”

Vedrana Riley, CEO of Ciel Capital, said: “Besides continuing our longstanding collaboration with Aimbridge, we are also delighted to welcome Nails by Yulia, a high-end beauty bar along with a boutique coffee shop which will complement the hotel offering.”

Formerly known as Interstate Hotels & Resorts, Aimbridge EMEA has seen development deals across Europe soar over the last 12 months, as travel returns to pre-pandemic levels and investors regain confidence in the hotel and tourism sectors.

In late 2023, the company announced its entry into the Spanish market with the signing of the prestigious 402-key Grand Luxor Hotel & Village on the Costa Brava, owned by Santa Maria Group.

David Anderson added: “The UK and European markets are strong at present, and we’re pleased to say our pipeline is reflective of this, with development deals progressing well as we move further into 2024.”