Kimpton Group Holding LLC, a San Francisco-based boutique hotel company, has announced the closing of its third institutional real estate fund, KHP Fund II LP. Kimpton, the parent company of Kimpton Hotels & Restaurants, said it had raised $246 million, 50% more than the amount raised three years ago in the first KHP fund, Kimpton Hospitality Partners LP. The company said KHP Fund II will build new boutique hotels in targeted areas, buy nonhotel buildings that can be converted to Kimpton hotels, and buy existing hotels that either "fit the Kimpton model" or are underutilized and can be repositioned as a Kimpton hotel. The company can be found online at http://www.kimptonhotels.com.
Processing Content
