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Sunday,  July 14, 2024 4:38 AM 

IHG acquires Kimpton for $430 million

IHG acquires Kimpton for $430 million

InterContinental Hotels Group has agreed to acquire Kimpton Hotels & Restaurants for $430 million in cash.

Kimpton is the world’s largest independent boutique hotel operator and a food and beverage operator, managing 62 hotels in the U.S. with a further 16 hotels in the pipeline. It operates 71 hotel-based destination restaurants and bars.

The deal is "highly complementary with IHG’s Hotel Indigo and EVEN Hotels brands," the company says in a release, adding there are "significant opportunities identified for IHG to accelerate the growth of the Kimpton brand within the US and to launch it globally."