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IHG is Acquiring Kimpton Hotels & Restaurants

Big news for the hotel and restaurant companies.

IHG is acquiring Kimpton Hotels & Restaurants.

The $430 million merger will create the world's "largest boutique hotel business," according to a press release. More details about the merger are in the official announcement.

Kimpton, though based in San Francisco, has a major presence in the D.C. market, and is behind such restaurants as Poste, Brabo, Urbana and more. IHG operates The Willard Intercontinental Hotel locally, among other properties. A spokeswoman for Kimpton said it should be business at usual at the local Kimpton restaurants.

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