Overview

ICBC provides $40 million USD loan to Kimpton for hotel construction project

Commitments (Constant USD, 2023)$43,628,863

Commitment Year•2016Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

Geospatial footprint

Map overview

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The purpose of this project was for ICBC to provide $40 million USD loan to Kimpton for hotel construction project. More detailed locational information can be found at: https://www.openstreetmap.org/way/151195285

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Kimpton Hotels & Restaurants, LLC

Loan desecription

ICBC provides $40 million USD loan to Kimpton for hotel construction project

Interest type•Unknown

Narrative

Full Description

Project narrative

In or prior to 2016, Industrial and Commercial Bank of China (ICBC) provided a $40 million USD bilateral loan to Kimpton Hotel & Restaurant Group, LLC for the construction of a new boutique-lifestyle hotel in Southern California. Jeffer Mangels Butler & Mitchell's Global Hospitality Group, a California-based hospitality law firm, represented ICBC in the development of their platform for hotel lending, including this loan.

Staff comments

1. There is very little information about this loan online. This issue warrants further investigation.