Kimpton Hotels Announces the Hotel Monaco, Alexandria

Kimpton Expands in Metropolitan Washington Area with Ninth Stylish Boutique Hotel

Kimpton Hotels & Restaurants Group, LLC announced plans to open the Hotel Monaco, Alexandria in historic Old Town Alexandria, Virginia, marking Kimpton’s ninth hotel in the Washington metropolitan region. In a joint partnership, Kimpton and ING Clarion will invest approximately $22 million into the former Holiday Inn Select, to transform the 227-room property into a luxurious four-star Hotel Monaco. The project is slated for completion by mid 2007.

“Greater Washington D.C. has proven to be a highly successful market for Kimpton,” said Mike Depatie, President of Kimpton. “Our style of boutique hotels and level of personalized services is unparalleled in this region and the addition of another Hotel Monaco will further establish Kimpton’s presence as a hospitality leader in this area.”

The Hotel Monaco Alexandria will be Kimpton’s first hotel to open in Virginia.
Kimpton has previously announced plans to open the Hotel Palomar at Waterview in Arlington, Virginia, scheduled to open in 2008. Kimpton’s Washington DC properties include the Hotel Monaco Washington DC, Hotel George, Topaz Hotel, Hotel Rouge, Hotel Madera, Hotel Helix, and the Hotel Palomar Washington DC, which is scheduled to open in late spring 2006.


Kimpton Hotels announces the Hotel Palomar Los Angeles-Westwood

Marks Second Kimpton Hotel in Southern California

Kimpton Hotels & Restaurants Group, LLC announced plans to open the Hotel Palomar Los Angeles - Westwood, an 18-story hotel situated in the heart of Los Angeles’s thriving West Side. Owned by Behringer Harvard and Realty America Group,

Kimpton Hotels has been selected to operate the hotel and assist in the conversion of the existing 297-room Doubletree Los Angeles – Westwood into a sophisticated and stylish Hotel Palomar, slated for completion in by Summer 2007.

“Kimpton has been seeking to secure an opportunistic presence in LA for some time,” said Joe Long, Kimpton’s executive vice president of acquisitions & development. “The combined appeal of the convenient location on Wilshire Boulevard, the timeless sophistication of a Hotel Palomar and Kimpton’s signature programs and services, ideally position this property for success in the LA market.”

After officially closing the hotel in Summer 2006 for remodeling, the property willundergo an extensive redevelopment including the remodeling of all guest rooms, an increase of suite count, an addition of a destination spa, and the launch of a Kimpton chef-driven restaurant.

“We are eager to showcase Kimpton’s unique signature design, programs and services in Los Angeles,” said Niki Leondakis, Kimpton’s chief operating officer. “The Hotel Palomar will be a warm and welcoming environment and the adjacent restaurant will undoubtedly become an integral part of the neighborhood.” Kimpton also has recently announced additional Hotel Palomars in Dallas, Texas, Arlington, Virginia, and Washington D.C.

This agreement represents Kimpton’s second venture with Behringer Harvard and Realty America Group. The two firms are currently redeveloping a Dallas property into the Hotel Palomar and the Residences at Hotel Palomar, scheduled to open in mid- 2006.


Kimpton Hotels Announces its Second Property in New York

The Muse Hotel marks Kimpton’s 40th Property

Kimpton Hotels & Restaurants Group, LLC announced its most recent hotel in New York City, The Muse Hotel and District Restaurant, located in Manhattan’s thriving Times Square and theatre district. This property marks the second New York City hotel in the growing Kimpton portfolio of 40 hotels, including the 2004 addition of its 70 park avenue hotel, located in midtown near Grand Central Station.

“New York has been a key target market for Kimpton, and The Muse’s premium offerings and ideal Times Square location provide a welcome alternative to the larger conference hotels and trendy, yet non-functional, boutique hotels in this area,” said Mike Depatie, Kimpton’s President. “The combination of Kimpton’s management expertise and the quality features of The Muse will undoubtedly increase consumer interest, while at the same time driving solid returns to our investors,” added Depatie.

“Our strategy of taking over existing hotels in desirable locations, to reposition as a Kimpton property, is something the Kimpton Hotels & Restaurants will continue to pursue as opportunities arise,” said Tom LaTour, Kimpton’s Chairman & CEO.

Kimpton Hotels was awarded management of The Muse Hotel and District Restaurant by Cornerstone, Real Estate Advisers LLC, an indirect, wholly owned subsidiary of the MassMutual Financial Group, which manages more than $5 billion on behalf of a number of major public and corporate pension funds, endowments, foundations and union funds, as well as MassMutual. We are extremely familiar with Kimpton's dedicated management skill as it relates to the company’s other properties and we greatly look forward to working together on The Muse,” said Cornerstone CEO Dave Reilly.