Thursday, 18 December 2014

IHG to Acquire Kimpton for $430 Million

IHG to Acquire Kimpton for $430 Million

The sand continues to shift at InterContinental Hotels Group. On the heels of the upcoming resignation of Kirk Kinsell, president of the Americas, the multi-national publicly traded company plans to acquire Kimpton Hotels & Restaurants for $430 million in cash. The acquisition is expected to close in the first quarter of 2015. It will double Kimpton’s EBITDA (earnings before interest, taxes, depreciation and amortization) by the end of 2017 and boost IHG’s earnings through an ROI to be realized in three years, officials said. IHG hopes to finance the majority of the transaction with proceeds from its pending sale of InterContinental Paris for $406 m
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Industry News

AAHOA, AH&LA Sue Los Angeles Over Wage Ordinance

AAHOA and the American Hotel & Lodging Association (AH&LA) filed a lawsuit on Tuesday against the city of Los
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AAHOA Applauds Congress for Brand USA Reauthorization

AAHOA applauds Congress for reauthorizing Brand USA in the final weeks of the 113th Congress. As the largest associat
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Best Western Reaches Global Deal with Expedia

Expedia and Best Western last week signed a global partnership agreement to distribute Best Western branded hotels on
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India News

Hard Rock Announces First India Property

image Hard Rock International announced Tuesday the introduction of Hard Rock Hotel Goa, the first of its kind in India. Pr
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GBTA Foundation Significantly Upgrades Business Travel Outlook for India

image The Global Business Travel Association (GBTA) Foundation, the voice of the global business travel industry, on Monday
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Brands

Hampton Welcomes 2,000th Property

Hampton Hotels celebrated the opening of its 2,000th hotel, Hampton Inn & Suites Bellevue Downtown-Seat
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Best Western Adds First Premier Collection Property

Best Western announced Tuesday that the Hotel Mäster Johan in Malmö, Sweden is the first independent hote
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Franklin Hotel Chapel Hill Joins Curio Collection

Hilton Worldwide on Tuesday welcomed The Franklin Hotel Chapel Hill to its growing global brand, Curio – A Coll
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Trends & Issues

Column: NLRB Recommendation Could Hit Minority-Owned Franchises Hard

image By Alfredo Ortiz, Job Creators Network The blur of taxes, regulations and mandates out of Washington has created
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2015 Technology Predictions: Focus Areas for Forward-Thinking Hoteliers

image By Bernard Ellis, Infor Hospitality As the calendar year comes to a close, hoteliers and gaming companies are beg
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People

Senate Confirms First Indian-American Surgeon General

AAHOA applauds the U.S. Senate confirmation of Dr. Vivek Murthy as the next U.S. surgeon general in the final week of
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AAHOA Congratulates New India Caucus Co-Chairmen

AAHOA congratulates Reps. Ami Bera (D-Calif.) and George Holding (R-N.C.) on their selections as the co-chairmen of t
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Mit Shah Appointed La Quinta Board Chair

La Quinta Holdings Inc. announced Tuesday that Mit Shah has been appointed as chairman of the board. “Mr. S
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Community

Vantage Welcomes New Family Members

image Nearly six months after acquiring the America's Best Franchising portfolio, Vantage Hospitality charts a new cour
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Steve Joyce to Keynote Hunter Conference

image Event organizers with the Hunter Hotel Investment Conference announced Tuesday that Steve Joyce, president and CEO fo
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Gallery

Vantage Conference, Dec. 8-10, 2014, Las Vegas, Nev.
AAHOA Gulf Regional, Dec. 2, 2014, Little Rock, Ark.
AAHOA Upper Midwest Regional, Nov. 6, 2014, Schaumburg, Ill.
IHG Conference, Oct. 27-29, 2014, Las Vegas

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