Intercontinental Purchases Kimpton Hotels

Discussion created by erc on Dec 16, 2014

InterContinental Hotels to Buy Kimpton for $430 Million - Bloomberg


Just an interesting FYI to Insiders. Intercontinental, besides its namesake brand, also operates all the Holiday Inn concepts, Crowne Plaza, Candlewood Suites and a few other brands. Kimpton, a highly regarded boutique chain of 62 properties, with 16 in the development pipeline (they also run 71 hotel restaurants and bars) had earlier discussions with Marriott, but did not reach any agreement and Marriott placed their bet on Ian Schrager and his Edition brand (with a few hiccups along the way).


Kimpton operates eleven properties in the DC/NoVa market all with different names. Monaco and Palomar are two of the more utilized names throughout their system. I have visited several locally (having meals in a few) and they are attractive, but I always seem to find better rates at Renaissance when I'm in my 'funky hipster' mood (which doesn't bug my Kimpton Big Dog pal, as he often says, "erc, we're not after you deal seeking weasels, it's bad for our margins" ).


And of course, what would a hotel story be without a quote about our friend The Millennial - here's this story's;

“Millennials are looking for varied experience versus the cookie-cutter feel where everything looks the same,” Bhalla said. “The major brands are realizing the value of that concept.”


In the evolution of the hotel lodger, I guess I'm probably about the third from the left .