PE-backed hotel firms Aimbridge and Interstate to merge

Aimbridge Hospitality, a hotel management firm and Interstate Hotels & Resorts, a multinational hotel operator, have agreed to merge. No financial terms were disclosed. Aimbridge is backed by Advent International while Interstate is owned by Kohlberg & Company. Goldman Sachs and Moelis & Company LLC provided financial advice to Interstate on the deal, which is expected to close by the end of the year.

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