08-08 May 2024
Hotel Melià ,
Milano ,
Italy
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10-12 May 2024
China Import & Export Fair Complex,
Guangzhou,
China
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13-16 May 2024
Conrad Chia Laguna Sardinia ,
Italy
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14 May 2024
JPMorgan Chase Headquarters,
New York City,
United States
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18-22 May 2024
The Ravenala Attitude Hotel,
Mauritius
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
Wiesbaden,
Germany
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
France
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30 May - 02 Jun 2024
Rimini Exhibition Center,
Rimini,
Italy
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InterContinental make major play for the boutique sector with acquisition of Kimpton |
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By Ashley Harrison 19 Dec 2014 |
With properties across the US, the acquisition of Kimpton by IHG is seen as a sound financial and strategic move Credit: Kimpton Hotels & Restaurants
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The InterContinental Hotels Group (IHC) has acquired Kimpton Hotels and Restaurants in a US$430m (€350m, £275m) deal which pushes it to the forefront of the boutique hotel and restaurant sector.
Kimpton is the largest boutique hotel business in the USA with 62 hotel in 28 cities such as San Francisco, New York and Los Angeles and another 16 in the pipeline, 10 of which are already under construction. It also operates 71 hotel-based restaurants, bars and lounges.
The brand falls into line with IHG’s existing Hotel Indigo and EVEN Hotel chains and is part of a move to capitalise on customers who are willing to pay a little more for the personal touches.
“There is a small and fast growing group of people that are interested in design and lifestyle, they don’t want the cookie-cutter treatment but still expect a level of service in an eclectic setting,” said Richard Solomons, chief executive of IHG.
Boutique hotels are one of the industry's fastest growing sectors, thriving due to increasing demands by consumers for more unique holiday experiences.
The acquisition will be financed through existing cash resources and new debt facilities, and is expected to close during the first quarter of 2015. It is expected Kimpton will double IHG’s earnings by the end of 2017.
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News |
1 to 12 of 8708 news stories |
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03 May 2024
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01 May 2024
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27 Apr 2024
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25 Apr 2024
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24 Apr 2024
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24 Apr 2024
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24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
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23 Apr 2024
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23 Apr 2024
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22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
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18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
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