Yale University to fund major Kimpton Hotels acquisition plans
San Francisco-based boutique hotel company Kimpton Hotels & Restaurants announced that it spend more than $450 million during the next two years for acquisitions and development in the United States.
Kimpton expects to add 20 properties to its portfolio of 39 boutique properties in 17 cities, over the next five years, in such cities as Boston, Chicago, Los Angeles, Miami, Napa Valley, Calif., New York, San Diego, Seattle, and Washington, D.C.
In exchange for 22% ownership in Kimpton, Yale University is providing $157 million to Kimpton, which it plans to leverage into the $450 million for the acquisition.
“The time is right for investment in the hotel sector,” said Kimpton Real Estate CEO Mike Depatie. He added:
“Many hotels are still underperforming due to the severity of the recent economic downturn, lack of capital or ineffective management. Most industry experts are predicting a further rebound in the hospitality sector, estimating room revenue growth to increase by more than 7% this year and more than 6% in 2006.”
Report by David Wilkening
David
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 reduced timetable to over 60 destinations
Hands In, UATP join forces for airline multi-card payments
AirlineRatings reveals world's safest airline rankings for 2026
Vietnam warns airlines of possible flight reductions amid jet fuel shortages
Fliggy opens AI-powered travel bookings and developer tools