This week IHG announced its first acquisition in a decade with the purchase of Kimpton Hotels and Restaurants for $430 million. As this is a landmark deal for one of our core industries, we thought we’d look at some of the numbers involved.
- 161 million – the annual number of IHG guests
- 697,048 – the number of hotel rooms that IHG currently franchises, manages or owns, making it the world’s largest hotel chain
- 11,300– the number of rooms that will be added to IHG’s portfolio, based on 62 high-end boutique hotels owned by Kimpton across the USA
- 71– other properties which Kimpton owns that are classed as ‘hotel-based destination restaurants and bars’
- 7.5 percent – the annual growth of the high-end boutique market which is 3.2 percent higher than the industry standard
- 1.6 million– the number of members in Kimpton’s well-respected loyalty program, Kimpton Karma Rewards
- Q1 2015– when the acquisition is expected to close
As experts in furniture asset management that have worked closely with the world’s leading brand owners and franchisors for almost four decades, we know IHG and its brands well—from Candlewood Suites and Crowne Plaza through to Holiday Inn and InterContinental. We have completed hundreds of refinishing, reupholstery and remanufacturing projects for IHG portfolio brands. We look forward to seeing Kimpton continue its successes under IHG’s leadership.
Apart from applauding IHG for moving to grow its brand and family with an upscale and much-loved brand such as Kimpton, we have to congratulate the Kimpton team for how it has shown its personal side following the acquisition announcement in responding to public questions and occasional outbursts from Kimpton fans—of which there are many. We appreciate Kimpton’s timely and incredibly human reassurances that it has shared over its social media channels and the specific responses it has given to its followers over Twitter via @Kimpton and on its Facebook page. Take a look, the responses are compassionate, authentic and frequently humorous.
Kimpton states: “Our hotels are inspired and wired” and we think that entering the IHG family will enable this upscale brand to keep its edge while broadening its reach.