Smith named Stonebridge president and CEO, founder Dimond moving to chairman
Smith will lead the development and execution of the company's long-term strategies
By Vishnu Rageev RMay 31, 2024
ROB SMITH WILL become president and CEO of Stonebridge Cos. in July. He succeeds Navin Dimond, who founded the Denver-based hotel management company in 1991 and will now serve as chairman.
In his new role, Smith will lead the development and execution of the organization's long-term strategies and report to the board of directors, Stonebridge said in a statement.
“I am proud of the success our team has achieved as we’ve built the distinct Stonebridge brand over more than 30 years—and am confident that the best is yet to come,” said Dimond. “Rob epitomizes our culture of leveraging innovation and an entrepreneurial spirit to enhance value for our owners, investors and other stakeholders. His extensive, successful track record makes him the ideal person to advance our growth strategy. I look forward to working closely with Rob to take Stonebridge to the next level of growth.”
With nearly 30 years in hospitality, Smith has held positions at several organizations, the statement said. Most recently, he was division president at Aimbridge Hospitality, where he helped grow their luxury and resort portfolio over 12 years. Prior to that, he spent two decades in the Caribbean, including as president and CEO of the Aruba Hotel & Tourism Association. His experience also includes roles as general manager of several U.S. and Caribbean resorts.
“I am thrilled to lead the immensely talented Stonebridge team during this exciting time of growth and opportunity in our industry,” said Smith. “I look forward to working with Navin and the Stonebridge team to continue the company’s long history of innovation, operational excellence, and consistent results as we strive to be the leader in hospitality among guests, team members and clients.”
Smith currently serves on the AHLA board of directors, the Marriott Rooms Advisory Board, and the Westin Brand Advisory Board.
Stonebridge recently acquired Real Hospitality Group LLC, based in Ocean City, Maryland, led by president and CEO Ben Seidel, expanding its portfolio to over 160 properties with 24,000 rooms across 20 states.
Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
The model targets owners seeking limited front desk and housekeeping.
The brand meets demand for longer-term, value-focused stays.
SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.
The brand aims to address the growing demand for longer-term, value-driven accommodations, Sonesta said in a statement.
"Americas Best Value Studios by Sonesta represents a strategic evolution of our trusted Americas Best Value Inn brand," Keith Pierce, Sonesta’s executive vice president and president of franchise development, said. "We are expanding our offerings to directly address the increasing demand within the extended-stay segment, providing a practical solution for travelers seeking longer-term lodging at value. This new brand type allows our local franchised owner-operators to tap into a growing market while maintaining the community-focused experience that Americas Best Value Inn is known for."
ABVI has a majority presence in secondary and tertiary markets, the statement said.
The extended-stay brand’s operational model features a front desk, bi-weekly housekeeping, on-site laundry and pet-friendly accommodations, Sonesta said. Guests can also earn or redeem points through the Sonesta Travel Pass loyalty program.
In August, Sonesta named Stayntouch its preferred property management system after a two-year review of its ability to support the company’s franchise model. The company operates more than 1,100 properties with more than 100,000 rooms across 13 brands on three continents.
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