IHG buys boutique hotel firm
InterContinental Hotels Group has agreed to buy US boutique hotel brand Kimpton Hotels and Restaurants.
IHG, headquartered in the UK, will pay $430 million in cash for the hotel operator.
CEO Richard Solomons said his company wanted a stake in what he believes to be the fastest-growing segment of the hotel industry.
IHG, which is parent company to Holiday Inn and Crowne Plaza, said Kimpton would complement its Hotel Indigo and EVEN hotel brands.
It believes there is an opportunity to grow the brand within the US and globally.
Solomons said: "We will use our scale, network of owner relationships, and powerful digital platforms to accelerate Kimpton’s growth both within the US and internationally.
"The hugely talented Kimpton team will continue to be led by Mike DeFrino, currently Kimpton’s COO, and I am delighted to welcome all of Kimpton’s associates and owners to the IHG family."
Diane
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
All eyes on Qatar as Qatar Airways leads a season of global events