InterContinental Hotels Group agreed to acquire Kimpton Hotels & Restaurants for $430 million in cash, a move that enhances its stature as a force in boutique and lifestyle hotels given the chain’s existing Hotel Indigo and Even Hotels brands.
The acquisition of Kimpton, which manages 62 hotels in U.S. cities and resorts areas, and operates 71 hotel-based restaurants and bars, fits in with IHG’s asset-light strategy.
IHG says the acquisition is particularly attractive because the boutique hotel segment is “the fastest growing segment in the industry.”
I just hope that IHG allows Kimpton to remain Kimpton where service and individuality has always been their brand standard. I was so blessed to have served as their VP of Restaurants from 2003 through 2005 when there were only 34 properties.
