Aimbridge Hospitality and Interstate Hotels & Resorts to Merge

Aimbridge Hospitality and Interstate Hotels & Resorts announced their merger agreement on August 29, 2019, with Advent to assume majority ownership of the combined business. Aimbridge's subsequent release expressly states that the merger completed on October 25, 2019. The transaction created a hotel manager overseeing more than 1,400 properties; Kohlberg's residual ownership was not disclosed.