SAN FRANCISCO Just after the loss of its Founder and Chairman Bill Kimpton, the Kimpton Hotel & Restaurant Group, LLC remains on track to expand its business and carry on its founder s legacy.
“We don t expect any major changes as any good leader would, Bill provided for the ongoing continuity of the organization,” said Tom LaTour, Kimpton s president/CEO.
LaTour said he will assume many of Kimpton s responsibilities including capital formation, financing new projects, and re-financing existing assets in addition to his usual duty of overseeing development.
According to LaTour, Kimpton held his assets in a trust, and the two trustees he designated will come onto the company s board of directors, effective immediately.
“We anticipate business as usual going forward, and in spite of our great loss, the Kimpton Group will survive as Bill had planned. Our goal is to continue to grow with unique boutique hotels in every major city in the United States,” said LaTour.
Solidifying the fact that the company is on track for expansion, LaTour told HOTEL BUSINESS. that four Kimpton hotels are currently under construction, while additional opportunities are actively being sought.
Furthermore, LaTour says that Kimpton Hotel Group will continue to grow as an independent, and will not consider selling any of its assets or merging with a larger hotel company.
“About a year ago we did have discussions with Marriott, and the discussions were terminated. We do not anticipate resuming discussion with Marriott or any other big hotel company for that matter. We are reasonably sized, and believe we can continue to grow as an independent,” said LaTour. (4/2/01) Kelly Wayne