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Kimpton sold to InterContinental for $433M

Kimpton Hotels & Restaurants, the operator of 71 restaurants and bars in 62 boutique-style hotels, has been sold to InterContinental Hotel Group for $433 million in cash.

The acquisition will accelerate expansion of Kimpton’s restaurant, bar and hotel portfolio, IHG said. The buyer already owns the Hotel Indigo and EVEN boutique-lodging chains, which it called good complements to the Kimpton properties.

“Adding Kimpton to our portfolio of preferred brands creates the world’s largest boutique hotel business,” said Richard Solomons, IHG’s CEO. “It has created a portfolio of world-class hotels and destination restaurants, and the distinctive and innovative Kimpton brand will fit perfectly into the IHG brand family.”

Kimpton’s restaurants include Aqua Bar & Grill in Scottsdale, Ariz.; Blvd 16 in Los Angeles; and Scala’s Bistro in San Francisco. It also manages the landmark Starlight Room in San Francisco. 

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