InterContinental Hotels Group to Acquire Kimpton Hotels & Restaurants for $430 Million

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    InterContinental Hotels Group PLC has agreed to acquire Kimpton Hotels & Restaurants — the largest independent boutique hotel operator in the world with 62 hotel properties in 28 cities and a sophisticated food and beverage operator with 71 destination restaurants and bars — for $430 million in cash, according to this official press release. The Kimpton brand will apparently become another brand of the portfolio of InterContinental Hotels Group, rather than be integrated into its existing brands, as there are significant opportunities “to accelerate the growth of the Kimpton brand” within the United States and to “launch it globally” — especially in “Europe and Asia where there is strong demand for boutique brands.” It is unclear at this time as to... The post InterContinental Hotels Group to Acquire Kimpton Hotels & Restaurants for $430 Million appeared first on The Gate.

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