InterContinental Hotels Group, which has its Americas headquarters in metro Atlanta, plans to acquire the Kimpton Hotels & Restaurants chain for $430 million, the companies announced Monday.
The deal would give IHG prominent new high-end boutique hotel brands and upscale restaurants that appeal to both business and leisure customers for their unique amenities.
IHG is known for its Holiday Inn, InterContinental, Crowne Plaza and Hotel Indigo brands. Kimpton’s brands include Hotel Palomar and Hotel Monaco. IHG said in a news release that the Kimpton acquisition makes the combined company the largest boutique hotel operator.
Kimpton operates 62 hotels worldwide, the release stated. It formerly operated a Hotel Palomar in Midtown Atlanta, but that hotel converted to the Renaissance brand a few years ago. Kimpton recently opened The Brice hotel in Savannah.
Between IHG’s existing Hotel Indigo and EVEN boutique brands, IHG said the company will have more than 200 boutique hotels open or in development worldwide.
IHG said the deal, expected to close in early 2015, will be a boost to its earnings in its first year.
About the Author
