By Craig Karmin and Dana Mattioli
Kimpton Hotels & Restaurants Group Inc., the nation's
largest independent operator of boutique hotels, is exploring a
sale, according to people familiar with the matter.
The San Francisco-based hospitality company, with 62 properties
across 28 U.S. cities, in recent weeks has reached out to potential
buyers, these people said. A Kimpton executive declined to
comment.
A deal could come soon, said one of the people familiar with the
discussions.
Kimpton was founded in 1981 as one of the first hotel operators
in the boutique, or lifestyle, segment, which is known for stylish
design and a thriving restaurant and bar scene to attract travelers
tired of cookie-cutter designs.
In recent years, virtually all the major hotel brands have
created their own lifestyle brands to compete in a market sector
that has been especially popular with young travelers.
Marriott International Inc. this month opened a boutique Miami
hotel under its Edition brand, a new venture with hotelier Ian
Schrager. Earlier this year, Hilton Worldwide Holdings Inc. and
Best Western International Inc. announced plans for their own
boutique brands.
A buyer of Kimpton would become an instant player in the
lifestyle-hotel space with the company's presence in 28 cities,
including hotels in New York, Los Angeles and Miami Beach. While
Kimpton manages many of its properties as independents, the company
also runs the Hotel Palomar and Hotel Monaco brands.
Write to Craig Karmin at craig.karmin@wsj.com and Dana Mattioli
at dana.mattioli@wsj.com
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