Kimpton Hotels & Restaurant Group has
added another property to its growing portfolio.
The lifestyle
boutique chain signed a deal to purchase the 189-room Nine Zero
hotel in Boston, reportedly for $70 million.
Nine Zero will be
Kimptons third hotel in the city, joining the Onyx Hotel in
downtown Boston and the Hotel Marlowe in Cambridge.
Nine Zero is the
fourth hotel Kimpton has acquired since the beginning of the
year.
Earlier this month,
Kimpton, in association with its partner ING Clarion, acquired a
Holiday Inn property located in the historic Old Town Alexandria
section of Virginia and plans to invest $22 million to convert it
into the Hotel Monaco, Alexandria.
In February,
Kimpton announced plans to open the Hotel Palomar Los Angeles --
Westwood. The property currently flagged as a Doubletree hotel, is
expected to open next year after extensive remodeling.
Also in February,
Kimpton took over management of the Muse hotel, located in New
Yorks Times Square area. Kimpton plans to invest $5 million in
upgrading the 200-room property.
Kimpton Hotels
encompasses more than 40 properties across the U.S. and
Canada.
To contact
reporter Michael Milligan, send e-mail to [email protected].