Following the announcement made on Dec. 16, InterContinental Hotels Group has completed the acquisition of Kimpton Hotels & Restaurants Group for $430 million. Kimpton announced that Mike DeFrino has today started in his new role as chief executive officer of the business. DeFrino replaces Mike Depatie, who will now manage KHP Capital Partners, the asset manager for the three KHP private equity real estate investment funds that own approximately 30 percent of Kimpton’s existing and pipeline properties. The leadership change signals the formal completion of the transaction.
DeFrino has spent more than 25 years in the hospitality industry, almost 20 of which he has spent with Kimpton. He has held a number of senior operations and management positions and most recently acted as the company’s chief operating officer. Before joining Kimpton, DeFrino worked at a number of boutique and luxury hotel chains around the United States.
“Kimpton is entering an unprecedented turning point with IHG and if I’ve learned a thing or two over the past 18 years with the company, it’s that we’ve got the cultural foundation, passion, and expertise to take our unique approach to hospitality to the next level,” DeFrino said. “Together with IHG, I look forward to globally expanding our leading boutique and lifestyle brand and reaching a larger community of engaged travelers and employees.”
“I’ve worked with Mike DeFrino for more than a decade and he is exactly the leader this company needs to lead them through the next chapter of the business,” Depatie said. “His drive, energy, and wicked sense of humor position him well to take the company global with IHG.”
Former Chief Financial Officer Ben Rowe and former Chief Investment Officer Joe Long will join Depatie in managing KHP Capital Partners.
