IHG Purchases Kimpton Hotels For $430 Million In Cash

IHG has announced that they have purchased Kimpton Hotels for $430 million in cash. Kimpton was established in 1981 and manages 61 hotels in the United States with another 16 in development (10 are under construction). Their Kimpton Karma Rewards program has 1,600,000 members.

It appears from IHG press statement that they plan to run the Kimpton properties alongside their Indigo & EVEN brands, rather than absorbing them wholly. The deal is scheduled to be finalized by the first quarter of 2015, although this will depend on anti-trust clearance and a few other factors.

There are two conference call scheduled for they are at the following times:

  • Tuesday 16 December at 8.30am London time (3.30am New York, 12.30am San Francisco)
  • Tuesday 16 December 9.00am New York time (2.00pm London, 6.00am San Francisco)

It can be accessed at http://www.ihgplc.com/kimpton. I’m hoping to get answers to some of the following questions during those conferences, although I’d imagine most of the questions will be related to the financial dealings of the acquisition and we’ll need to wait for answers to the questions that concern us.

  • Will IHG free night certificates be able to be used on all Kimpton Hotel properties?
  • IHG point values for Kimpton hotels
  • What will happen Kimpton Karma Rewards users with status? How will they be transitioned over to IHG?

Also just a reminder that it’s possible to get 80,000 points on the IHG credit card.

 

Will update this post as more information comes to hand.

H/T to Travel Blogger Buzz

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