The first KHP Fund closed in 2005 and now has an ownership interest in 13 Kimpton properties. Kimpton�s first institutional fund, the $122 million Kimpton Development Opportunity Fund (�KDOF�), was raised in 1997 and acquired nine properties. All but two of those have now been sold. Similar to KDOF, the KHP Funds have been raised to acquire, develop and redevelop boutique/lifestyle hotel properties in select major U.S. metropolitan cities and resort areas across the country. Already acquired and under development in KHP II are the Architects Building in Philadelphia, being redeveloped as Hotel Palomar Philadelphia, which began construction in February for a planned 2009 opening and a new-build Hotel Palomar in Chicago. 

Kimpton is the only branded boutique hotel company with institutionally funded, fully discretionary, dedicated funds for the acquisition and development of boutique hotels. According to Kimpton CEO, Michael Depatie, �Our ability to raise money at this time of tightening credit within the real estate capital markets shows the increasing popularity of Kimpton style hotels and the strength of our business model.� 
Similar to the first fund, KHP Fund II will utilize a multi-pronged strategy for investments: 

• Acquire non-hotel buildings that can be converted to Kimpton hotel properties (i.e., �adaptive reuse� projects such as Hotel Palomar Philadelphia, formerly the Architects Building, an historic office structure dating from 1929); 
• Acquire existing hotels that either fit the Kimpton model, such as KHP�s acquisition of Boston�s Nine Zero Hotel or properties that are underutilized and where opportunities exist to reposition as a Kimpton hotel, such as the former Radisson Hotel in Washington, D.C. which was converted to a Hotel Palomar; 
• Build new boutique hotels in targeted urban and resort areas in North America. 

ABOUT KIMPTON 
San Francisco-based Kimpton Hotels is the first collection of boutique hotels throughout the U.S and Canada. Every Kimpton hotel reflects the personality and pulse of its location, history and architectural style. Each property features personalized guest services, specialty rooms and suites, and provides a range of culinary experiences through affiliated top-rated destination chef-driven restaurants. Kimpton takes pride in its commitment to social responsibility through its innovative EarthCare programs. In addition, Kimpton demonstrates a unique dedication to its female guests with the Women InTouch program, offering comfortable and safe environments, in-room fitness and wellness options. Among the company�s newest properties are the Hotel Palomar Arlington at Waterview, which opened in November 2007. For more information, please visit www.KimptonHotels.com or call 1(800) KIMPTON. 

Kimpton Hotels & Restaurants
Stacey Ellis, 310-367-4912
[email protected]