InterContinent Hotels Group has spent $430 million in cash to repurchase Kimpton Hotels and Restaurants to add 62 hotels with the boutique style in 28 U.S cities and resort areas in order to create a series of investment for the boutique and lifestyle hotel.
According to IHG officials, Kimpton brand is felt a perfect fit with its Hotel Indigo and EVEN hotels brands.
“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. We will use our scale, network of owner relationships, and powerful digital platforms to accelerate Kimpton’s growth both within the U.S. and internationally.”said IHG Chief Executive Officer Richard Solomons
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InterContinental Hotels Group to Acquire Kimpton |