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Article: Kimpton shifts focus to management.(Special Report: MANAGEMENT SURVEY)(Kimpton Hotel & Restaurant Group L.L.C.)(Editorial)
- Article from:
- Hotel & Motel Management
- Article date:
- March 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Questex Media Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Kimpton Hotels & Restaurants operates 100 percent of its portfolio, including one third-party flag, a Best Western in San Francisco called the Tuscan Inn. The company owns about 30 percent of its portfolio, with the rest owned by third-party developers.
Joseph Long is EVP of acquisition and development for Kimpton Hotels. "Right now, development projects are dead in the water," Long said. "There is simply no financing available."
But that doesn't mean Kimpton is struggling. The boutique hotel company continues to focus on acquisitions, including five hotels that will open this year, and the company is concentrating a large part of its efforts on ...