SOURCE: Aimbridge Hospitality

Aimbridge Hospitality

February 16, 2010 09:25 ET

Rich Cortese to Head Aimbridge Hospitality 'Resort Division' for Caribbean and Mexico

Leading Hotel-Management/Investment Firm Steaming Ahead With Growth Plans Despite Economy; Taps Veteran Executive to Oversee Caribbean Business Development

DALLAS, TX--(Marketwire - February 16, 2010) - Far from delaying expansion until the economy strengthens, Aimbridge Hospitality, a leading hotel management and investment firm, recently established a regional office in Puerto Rico with its eyes set on development opportunities in the Caribbean and Mexico. To lead the regional effort and identify prime investment/management opportunities, 30+ year industry veteran Rich Cortese has been appointed Aimbridge Hospitality Senior Vice President for Resort Development.

"While others in this down economy choose to slow their growth or even put it on hold, we at Aimbridge see it as an opportunity for growth," said Aimbridge Hospitality President and CEO Dave Johnson. "We're moving full speed ahead with our growth plans in the resort segment, and there is no better qualified, more experienced industry professional than Rich Cortese to lead that expansion in the Caribbean and Mexico. We're honored that he has joined our executive team."

Before joining Aimbridge, Cortese served as Executive VP of Caribbean Property Group (CPG), where he had both management and asset-management responsibilities for CPG's $750 million hotel portfolio. Prior to that, as Regional Vice President for Wyndham Resorts Caribbean Cortese was responsible for overseeing management of three of Puerto Rico's most successful resorts -- El San Juan, El Conquistador and the Conrad Plaza -- as well as other Wyndham properties in the Caribbean. In 2004, Cortese was named "Hotelier of the Year" by the Puerto Rico Hotel Assn., where he serves as a board member and Chairman of its Gaming Committee. Cortese also was appointed by the Governor of Puerto Rico to serve as a board member of the Puerto Rico Convention and Business Bureau.

"This is the ideal time for a forward-looking company like Aimbridge Hospitality to focus on creating a stronger presence in the Caribbean and Mexico resort markets," Cortese said. "The company currently owns and manages more than 50 hotels in the United States and Puerto Rico, and within a very short time, I anticipate major deals will be announced."

For more information on Aimbridge Hospitality, please visit the company's Web site at www.aimbridgehospitality.com.

About Aimbridge Hospitality

Aimbridge Hospitality is one of the nation's leading independent hotel investment and management firms with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides management, asset management, development, renovation and consulting services. Based in Dallas, Texas, Aimbridge currently owns and/or manages over 50 upscale, independent and branded hotels with over 11,000 rooms across the United States and the Caribbean, including such affiliations as Marriott, Hilton, Crowne Plaza, Embassy Suites, DoubleTree, Hilton Garden Inn, Hampton Inn & Suites, Aloft, Hyatt, Wyndham and the Phoenix Inn Suites chain of hotels. For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com.

Contact Information

  • For more information, contact:
    Barb Worcester
    President/Principal
    PRPro
    Tel: (440) 930-5770
    Email Contact