Plano’s Aimbridge Hospitality Announces Chief Executive Officer Transition

An executive committee of the board led by Aimbridge Chairman Glenn Murphy has been formed and will lead a comprehensive search for a world class CEO replacement, the company said.

Plano-based Aimbridge Hospitality, a leading, global hospitality management company and the world’s largest third-party hotel operator, announced it is searching for a new chief executive officer.

The search is part of a transition plan for Michael J. Deitemeyer, who is stepping down as CEO, effective Dec. 31.

An executive committee of the board led by Aimbridge Chairman Glenn Murphy has been formed and will lead a comprehensive search for a world class CEO replacement, the company said.

“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,” Murphy said in a statement.

Deitemeyer assumed the role of president and CEO in January 2021 after serving as global president following Aimbridge’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, Aimbridge said.

New board members

The company also announced the appointment of Stephen Joyce and Bernardo Hees to its board of managers.

Joyce is a global hospitality veteran with more than four decades of multi-brand and franchisee experience, including nearly a decade serving as president and CEO of Choice Hotels International.

His time at Choice followed a successful 25-year career with Marriott International, where he rose to the level of executive vice president, global development. Most recently, he stepped in from his board seat to lead RE/MAX Holdings following a successful run as CEO of Dine Brands Global.

Hees is known for executing winning strategies and unlocking efficiencies to invest in growth, Aimbridge said. Most recently, he was executive chairman of Avis Budget Group and has been CEO at some of the world’s most recognizable, publicly traded companies including Burger King Worldwide Holdings Inc., The Kraft Heinz Co., and America Latina Logistica.

“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,” Murphy said.

Joyce and Hees will join Murphy and Jeff Case, managing director at Advent International, on the executive committee and work closely with Aimbridge’s senior leadership team to optimize 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.

The company also said that CFO Thomas Song will leave Aimbridge for a new opportunity outside of the hotel industry on Nov. 30. A new CFO will be named at a later date, the company said.

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