Kimpton Announces Plans to Expand in Austin's Historic Rainey Street District

. August 22, 2013

August 22, 2013 - Slated for an early 2015 opening, the new construction, 16-story hotel will feature 322 guest rooms, more than 12,000 square feet total event and meeting space, an individually concepted, chef-driven restaurant, lobby cafe and an expansive pool deck and bar. Located at the intersection of Red River and Davis Streets in the heart of the Rainey District's thriving nightlife scene, the Hotel Van Zandt will be just minutes away from the convention center and many other popular downtown Austin attractions. Renowned interior designer Mark Zeff will oversee the interior design of the Hotel Van Zandt and its still-to-be-named restaurant.

Kimpton was selected for the management contract by hotel developer and owner, JMI Realty, the developers and former owners of Kimpton's Hotel Solamar in San Diego. Seasoned players in the hospitality sector, JMI has developed or owned a number of high profile hotels and resorts across the U.S., including the Snow King Resort in Jackson, WY, the Courtyard Kauai at Coconut Beach, the Inn at Rancho Santa Fe, and the Omni San Diego.

“Austin is not just the state capitol and location of the University of Texas, but also the heart of a booming live music scene and the epicenter of a thriving technology sector. It's a perfect fit for our guest-centric, fun and slightly irreverent brand, and a city we've been eager to enter with the right opportunity for a while,” said Kimpton CEO Mike Depatie. “We are thrilled to be teaming up with JMI Realty again on this Austin property that will reflect both the city's historic roots and its current, modern vibe.”

According to JMI Realty Chief Investment Officer Greg Clay, Kimpton was a natural choice to manage this new Austin property because of the brand's commitment to personal guest service, creative design, culinary excellence and its sense of fun: “We've worked with Kimpton successfully in the past when we developed the Hotel Solamar in San Diego, and know that this is a partnership that works well. We look forward to bringing the unique Kimpton guest experience to this uniquely Austin hotel.”

For Kimpton, Austin represents an important expansion of the brand's presence in Texas and the Southwest, joining two existing hotels in Dallas (Kimpton's Hotel Lumen and its Hotel Palomar Dallas) and the much anticipated Roman & Williams-designed Pearl Hotel in San Antonio slated to open next year. Hotel Van Zandt also signifies continued momentum for Kimpton's development team, with this being the seventh addition to the company's portfolio announced this year, following announcements for new properties in Savannah, San Antonio, Milwaukee, Palm Springs, Sedona and Grand Cayman.

About Kimpton Hotels & Restaurants
San Francisco-based Kimpton Hotels & Restaurants is the leading collection of boutique hotels and restaurants in the United States and the acknowledged industry pioneer that first introduced the boutique hotel concept to America. In 1981, Bill Kimpton founded the company that today is renowned for making travelers feel genuinely cared for while away from home through fun and thoughtful perks and amenities, distinctive design at each hotel and a sincerely personal style of guest service. Out to help people live full, balanced lives, Kimpton aims to inspire with touches like yoga mats in every room, complimentary coffee and tea to start the day, hosted evening Wine Hour, in-room fitness programming and complimentary bike rentals. Kimpton's award-winning restaurants and bars are led by talented chefs and bartenders that offer guests a chance to dine like a local. Kimpton leads the hospitality industry in eco-friendly practices that span all hotels and restaurants. Kimpton is consistently ranked as one of the top companies in the Market Metrix Hospitality Index, Upper Upscale Segment, for Customer Satisfaction. The company is highly-regarded for its innovative employee culture and benefits and has been named a Fortune magazine “Best Place to Work” four times since 2009. Kimpton operates 60 hotels and nearly 70 restaurants, bars and lounges in 26 cities. For more information, visit www.KimptonHotels.com and www.KimptonRestaurants.com.

About JMI Realty
JMI Realty is a private real estate investment and development company that was organized in 1992 as the real estate investment subsidiary of JMI, Inc., the investment management company of the John Moores family. John Moores is the former owner of the San Diego Padres, founder of BMC Software, and an active philanthropist. JMI Realty is now owned by John Moores and John Kratzer and has offices in San Diego, California and Austin, Texas. Since its formation, JMI Realty has pursued investment and development opportunities across all product sectors with a specialization in lodging and an expertise in processing complicated urban, mixed use development projects. For more information, go to http://www.jmirealty.com.

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