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Kimpton is for sale [sold to IHG]

Kimpton is for sale [sold to IHG]

Old Dec 15, 14, 3:37 pm
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Kimpton is for sale [sold to IHG]

Boutique Hotel Operator Kimpton Hotels Seeking to Sell the Company

5:34 PM (GMT-05:00) Eastern Time (US & Canada) Dec 15, 2014
By Craig Karmin and Dana Mattioli

Kimpton Hotels & Restaurants Group Inc., the nation's largest independent operator of boutique hotels, is exploring a sale, according to people familiar with the matter.

The San Francisco-based hospitality company, with 62 properties across 28 U.S. cities, in recent weeks has reached out to potential buyers, these people said. A Kimpton executive declined to comment.

A deal could come soon, said one of the people familiar with the discussions.

Kimpton was founded in 1981 as one of the first hotel operators in the boutique, or lifestyle, segment, which is known for stylish design and a thriving restaurant and bar scene to attract travelers tired of cookie-cutter designs.

In recent years, virtually all the major hotel brands have created their own lifestyle brands to compete in a market sector that has been especially popular with young travelers.

Marriott International Inc. this month opened a boutique Miami hotel under its Edition brand, a new venture with hotelier Ian Schrager. Earlier this year, Hilton Worldwide Holdings Inc. and Best Western International Inc. announced plans for their own boutique brands.

A buyer of Kimpton would become an instant player in the lifestyle-hotel space with the company's presence in 28 cities, including hotels in New York, Los Angeles and Miami Beach. While Kimpton manages many of its properties as independents, the company also runs the Hotel Palomar and Hotel Monaco brands.

Write to Craig Karmin at [email protected] and Dana Mattioli at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

December 15, 2014 17:34 ET (22:34 GMT)

Copyright (c) 2014 Dow Jones & Company, Inc.
Bossa Nova is offline  
Old Dec 15, 14, 3:45 pm
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Are all of their hotels located in the USA?
MSPeconomist is offline  
Old Dec 15, 14, 4:15 pm
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Right now they are all US-based. But there is a Cayman Islands property slated to open at some point in 2016.

If they sell, I hope they are able to retain their character as a company. They have some really special properties and a focus on customer service that I haven't seen many other places. I'm a big fan of unique/boutique hotel properties, and I like getting that experience from Kimpton while also getting the benefits of a chain. Strange as it is to say, I'd actually be a little sad to see them get swallowed up by a big chain...
jewels421 is offline  
Old Dec 15, 14, 4:19 pm
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What is the reason for selling?
Dieuwer is offline  
Old Dec 15, 14, 7:02 pm
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IHG bought them!

King Chung Huang is offline  
Old Dec 15, 14, 7:03 pm
Join Date: Apr 2011
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Kimpton Sold to Intercontinental...say it isn't so!

As a loyal member of our Kimpton Karma Rewards program, I wanted to share some very exciting news with you. We've just announced that Kimpton Hotels & Restaurants has signed an agreement to be acquired by one of the world's leading hospitality companies, InterContinental Hotels Group (IHG) www.ihg.com. We're thrilled to be joining IHG, alongside the nine successful brands already in their portfolio, and see great alignment between our two companies.
Rest assured, this news doesn't have any immediate impact to your benefits or how you experience Kimpton. We'll continue to offer the same great perks and benefits through our Kimpton Karma Rewards program across our 62 Kimpton hotels and any reward nights you've racked up stay perfectly intact. For the time being, the Kimpton Karma Rewards program and IHG Rewards Club will continue to run as separate loyalty programs.
We're excited by the opportunities that lie ahead and look forward to expanding the unique Kimpton brand of hospitality.
As I'm sure you can imagine, transitions of this nature always take time. Please know we'll continue to keep you informed. We just wanted to be the first to share the good news.
We're always listening and love to hear from you.
Warmest Regards,
Mike Depatie CEO
Mike Depatie
Kimpton Hotels & Restaurants

Last edited by kellyl; Dec 18, 14 at 9:51 am
kellyl is offline  
Old Dec 15, 14, 7:07 pm
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My initial reaction is boo.
RogerMurdock is offline  
Old Dec 15, 14, 7:09 pm
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I hope this doesn't change the brand at all...
robertwcook16 is offline  
Old Dec 15, 14, 7:09 pm
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Originally Posted by King Chung Huang
Yeah just saw this on facebook.

Came out of no where!

Not very happy, I think I would have preferred Marriott if anyone. The CS is what makes Kimpton and I think it'll continue to go downhill especially under IHG.
airb330 is online now  
Old Dec 15, 14, 7:16 pm
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Originally Posted by RogerMurdock
My initial reaction is boo.
AtypicalProf is offline  
Old Dec 15, 14, 7:18 pm
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Just got an e-mail from Kimpton announcing the sale. So sad..... I love my Kimpton Inner Circle! And I can't imagine it will be the same w/ IHG.
vizslaky is offline  
Old Dec 15, 14, 10:13 pm
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This is terrible. IHG can't even run a promotion correctly and they're not going to screw up Kimpton? Yeah... right...
bworrell is offline  
Old Dec 15, 14, 10:20 pm
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Well then. Swallowed up by a big chain it is.

On the bright side, I'm sure it will be at least a little while before we notice any difference.
jewels421 is offline  
Old Dec 15, 14, 10:38 pm
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This is sad, sad news. They may keep the culture for a year or two, but these things NEVER last long after acquisitions.
SJC AA is offline  
Old Dec 15, 14, 10:43 pm
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SJC AA is offline  

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