Kimpton Hotels & Restaurants is a boutique luxury-lifestyle hotel and restaurant brand founded by Bill Kimpton in San Francisco in 1981, credited with introducing the boutique hotel concept to the US. IHG Hotels & Resorts bought it for $430 million in cash in a deal announced in December 2014 and closed in January 2015; it now runs about 90 hotels and over 100 restaurants and bars worldwide, with 67 more hotels in the pipeline.