Advent International completed the acquisition of Aimbridge Hospitality.

Advent International acquired Aimbridge Hospitality, North America's third-party hotel operator. The seller are Lee Equity Partners and General Atlantic. Financial terms were not disclosed. "Aimbridge has emerged as the clear leader in the fast-growing and fragmented U.S. third-party hotel management industry, and we are thrilled to partner with the organization as we invest in Aimbridge's next chapter of growth," said Jeff Case, a Managing Director at Advent International. "Aimbridge has a unique opportunity to expand its reach globally through both organic growth and strategic opportunities while leveraging technology to better serve its hotel partners."