InterContinental Hotels Group has completed the acquisition of Kimpton Hotels & Restaurants Group $430 million, further to the announcement made on 16 December 2014, .

In addition, Kimpton has confirned that COO Mike DeFrino has taken over as Kimpton’s CEO. Former CEO Mike Depatie, along with a few other Kimpton top executives, now is managing KHP Capital Partners, which handles real estate investments.

The 62 Kimpton hotels will now join the IHG portfolio of more than 4,700 hotels.