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Kimpton Hotels & Restaurants Acquires the 74-room Hotel Wilshire in Los Angeles
through a Joint Venture with OSM Investment Company

SAN FRANCISCO, December 17, 2012 -- Kimpton Hotels & Restaurants has announced it has purchased the 74-room Hotel Wilshire through a joint venture with OSM Investment Company. The LEED-certified boutique hotel in the Miracle Mile section of Los Angeles marks the second LEED-certified hotel in the Kimpton collection, in addition to its Hotel Palomar Philadelphia, and is the second Kimpton hotel in Los Angeles, sixth in the Southern California area. Kimpton operates 58 hotels and 67 restaurants, bars and lounges in 24 cities nationwide.

Converted from a former medical office building in 2011 into a sleek, contemporary hotel in the heart of Los Angeles’ cultural center, Kimpton’s Hotel Wilshire is just minutes from Beverly Hills, West Hollywood, Hollywood and Century City, and within easy access to multiple museums, including the Los Angeles County Museum of Art, Craft & Folk Art Museum, Peterson Automotive Museum, and a number of galleries. A modern boutique hotel, combining luxurious accommodations with Kimpton’s hallmark of care and comfort in an eco-friendly environment, Hotel Wilshire fits perfectly into the Kimpton collection as the fourteenth adaptive reuse hotel.

The Hotel Wilshire features 55 plush guestrooms and 19 suites, including a rooftop penthouse suite, where guests can find relaxation in a modern and comfortable surrounding overlooking the Hollywood Hills. Additionally, guests can enjoy a beautiful rooftop experience on the pool deck – home to The Roof on Wilshire restaurant. The hotel includes 1,750 square feet of event space, including a boardroom that features two floor-to-ceiling glass walls.

The hotel’s design is inspired by the seemingly endless skies and warmth of the Los Angeles sun, pulling in the cool and contemporary vibe of Los Angeles to create a modern and sophisticated experience for guests, with easy access to all of the radiance of the area, including multiple entertainment venues, restaurants, fashion and shopping, and the city’s vibrant cultural scene.

“We had an incredible year in 2012 with seven new hotels added to our collection and we couldn’t be more pleased to close out the year with our expansion in the highly-desirable Los Angeles market,” said Mike Depatie, chief executive officer, Kimpton Hotels & Restaurants. “Hotel Wilshire is a perfect fit for the Kimpton portfolio and we’re pleased to partner with OSM on co-ownership of this hotel.”

The Hotel Wilshire will undergo a few updates to pull in the true Kimpton spirit and will offer all of Kimpton’s best-loved programs and services such as the hosted evening wine reception, animal print robes, wellness options, Kimpton’s InTouch loyalty program perks, pet-friendly practices, Kimpton’s EarthCare program, which includes more than 100 eco-friendly products and operating practices, and more.

Michael Orwitz, president of OSM Investment Company, states, “Being based in Los Angeles and having developed many residential properties in the city, we saw the Miracle Mile as an area of great opportunity to offer added convenience for the many businesses and residents in the Miracle Mile and Hancock Park neighborhoods. We are thrilled to be in this joint venture with Kimpton and are confident that the company’s stellar reputation and tenure in managing boutique hotels will take The Hotel Wilshire to even greater success.

ABOUT KIMPTON HOTELS & RESTAURANTS
San Francisco-based Kimpton Hotels & Restaurants, a collection of boutique hotels and chef-driven restaurants in the US, is an acknowledged industry pioneer and was the first to bring the boutique hotel concept to America. In 1981 Bill Kimpton founded the company that today is well-known for making travelers feel welcomed and comfortable while away from home through authentic and unscripted customer care, stylish ambience and embodying a certain playfulness in its approach to programs and amenities. Adjacent to the hotels are locally-loved, top-rated, Kimpton restaurants. The company operates 58 hotels and 67 restaurants and lounges in 24 cities. For more information visit www.KimptonHotels.com or call 1-800-KIMPTON.

ABOUT OSM INVESTMENT COMPANY
OSM Investment Company is a Los Angeles-based real estate developer, investor and owner. Founded in 1997 with an initial focus on multi-family residential real estate, the company has grown into a diversified real estate firm with a deep team of professionals. The company has grown its portfolio strategically, including developments and ownership in commercial properties and hospitality projects in California, Nevada and Tennessee. For more information visit www.osminvestment.com.

Contact:

Relevance PR
Karen Gee-McAuley, 818-541-7724
Karen@relevancepublicrelations.com

Kimpton Hotels & Restaurants
Stephanie Moustirats, 415-955-5487
Stephanie.Moustirats@kimptongroup.com



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