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IHG acquires Kimpton for USD$430 million

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Sable Kitchen and Bar, Kimpton Hotel, Chicago

IHG has bought Kimpton, the world’s largest boutique hotel operator, for USD$430 million.

Kimpton is a fully asset-light business that manages 62 hotels in the US with a further 16 hotels in the pipeline and the acquisition makes IHG the clear market leader in the boutique segment, the fastest growing segment in the industry in the United States.

IHG says the acquisition is “highly complementary with the company’s Hotel Indigo and EVEN Hotels brands and it creates a leading boutique and lifestyle hotel business, with over 200 open and pipeline hotels across 19 countries”.

“Kimpton is a well-established and highly successful business that has built an industry leading position in the US,” said Richard Solomons, Chief Executive Officer of IHG. “It has created a portfolio of world-class hotels and destination restaurants, and the distinctive and innovative Kimpton brand will fit perfectly into the IHG brand family.

“Adding Kimpton to our portfolio of preferred brands creates the world’s largest boutique hotel business.

“The acquisition is another step in IHG’s well-established asset-light strategy of investing in high-quality growth, building on a strong track record of developing iconic global brands.

“We will use our scale, network of owner relationships, and powerful digital platforms to accelerate Kimpton’s growth both within the US and internationally.

“The hugely talented Kimpton team will continue to be led by Mike DeFrino, currently Kimpton’s COO, and I am delighted to welcome all of Kimpton’s associates and owners to the IHG family.

“The culture and values of both companies are well aligned and Kimpton will bring a wealth of expertise and specialist skills to IHG,” Solomons said.

Mike Depatie, Chief Executive Officer of Kimpton Hotels and Restaurants said IHG “is the ideal partner for Kimpton and has absolutely the right experience and specialist capabilities to help the business move to the next phase of rapid growth”.

“Kimpton and IHG have many things in common, not least our shared values and approach to building brands,” he said.

“As an owner of a significant number of Kimpton hotels through our real estate investment funds, I am committed to developing additional Kimpton hotels and I look forward to seeing Kimpton go from strength to strength as part of IHG.”

 

 

 

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