KIMPTON ASHBEL NEW YORK - PARK AVENUE OPENS IN HISTORIC MIDTOWN MANHATTAN LANDMARK

Rhea-AI Summary

Kimpton Ashbel New York-Park Avenue (NYSE: IHG) opened April 22, 2026, in a restored 1928 Beaux‑Arts landmark at 70 Park Avenue in Midtown Manhattan. The boutique hotel offers 205 guestrooms, a residential‑style public flow, Park & Bel café, nightly Kimpton Social hours, and curated art and design by Busta Studio.

Positioned near Grand Central and Bryant Park, the property reintroduces Kimpton to Park Avenue with a focus on residential comfort and neighborhood dining and gathering spaces.

News Market Reaction – IHG

-2.85%

-2.85% Session close to close

In the Apr 22 session, IHG declined 2.85%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details the launch of Kimpton Ashbel New York-Park Avenue, a 205-guestroom boutiqu...

Analysis

This announcement details the launch of Kimpton Ashbel New York-Park Avenue, a 205-guestroom boutique hotel in a restored 1928 Beaux-Arts building near Grand Central. It reinforces IHG’s luxury and lifestyle strategy through design-led, neighborhood-focused properties. In context of recent share buyback activity, this update shifts emphasis toward portfolio growth. Investors may watch how new Kimpton openings contribute to occupancy, rate performance, and brand strength across IHG’s 6,800 hotels and development pipeline of over 2,300 properties.

Key Figures

Guestrooms: 205 guestrooms Connecting rooms: 14 rooms Original construction year: 1928 +5 more

8 metrics

Guestrooms 205 guestrooms Kimpton Ashbel New York-Park Avenue hotel size

Connecting rooms 14 rooms Family-friendly connecting rooms at Kimpton Ashbel

Original construction year 1928 Historic Beaux-Arts building origin as Doral Park Avenue Hotel

Kimpton properties 83 properties Global Kimpton hotel count mentioned in the release

Kimpton venues 100+ restaurants, bars and lounges Kimpton-branded food and beverage outlets globally

IHG rooms over one million rooms Total rooms across IHG’s global portfolio

IHG open hotels 6,800 hotels Number of open IHG hotels in over 100 countries

Development pipeline over 2,300 properties IHG hotels in development pipeline

Historical Context

5 past events · Latest: Apr 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 20	Share buyback update	Positive	-0.0%	Announcement of 3,828 ordinary shares repurchased for cancellation via Goldman Sachs.
Apr 17	Share buyback update	Positive	+4.2%	Disclosure of 10,000 shares bought back under AGM authority for cancellation.
Apr 16	Share buyback update	Positive	-1.0%	Purchase of 40,000 shares within a defined price range, to be cancelled.
Apr 15	Share buyback update	Positive	-1.2%	31,521 shares repurchased at specified prices and earmarked for cancellation.
Apr 14	Share buyback update	Positive	+1.8%	10,000-share repurchase on London market under AGM authority, to be cancelled.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent buyback announcements have produced mixed reactions, with both positive and negative moves following similar capital return news.

Recent Company History

Over the past weeks, IHG’s news flow has been dominated by multiple share repurchase updates, each outlining ordinary share purchases via brokers and the intention to cancel those shares. These buybacks modestly reduced shares in issue, but price reactions were inconsistent, ranging from small declines to a notable +4.15% move on Apr 17. Compared with those capital allocation headlines, the current update focuses on portfolio expansion with a new Kimpton-branded hotel in New York, shifting attention from balance-sheet actions to growth in its luxury and lifestyle footprint.

Key Terms

adr, beaux-arts

2 terms

adr financial

"LON:IHG for Ordinary Shares; NYSE:IHG for ADRs"

An American Depositary Receipt (ADR) is a financial certificate that lets investors buy shares of a foreign company through U.S. stock markets, similar to buying a local wrapper that represents the underlying foreign shares. ADRs matter because they make investing in overseas companies easier and more liquid by trading in U.S. dollars and under U.S. market rules, while still carrying currency, regulatory, and country-specific risks that can affect share value.

View in glossary

beaux-arts technical

"Originally built during the Beaux-Arts architectural movement, the hotel showcases"

Beaux-Arts is an ornate architectural and design style originating from the French École des Beaux-Arts, characterized by grand symmetry, classical details and rich decorative elements such as columns, sculptures and domes. For investors, labeling a building or asset Beaux-Arts signals historical or aesthetic value that can influence maintenance costs, preservation rules, insurance, tourist or tenant appeal and resale prospects—like owning a prized vintage car that attracts attention but may need specialized care.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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A townhouse-inspired retreat introduces residential design, gathering spaces, and a new neighborhood café in Midtown Manhattan

NEW YORK, April 22, 2026 /PRNewswire/ -- Kimpton Ashbel New York-Park Avenue, a boutique luxury hotel in Midtown Manhattan and part of the IHG luxury and lifestyle portfolio, is now open at 70 Park Avenue, welcoming guests to a reimagined Beaux-Arts landmark along one of Manhattan's most storied avenues. Just steps from Grand Central Terminal and Bryant Park, the hotel brings new life to the historic building originally constructed in 1928 as the Doral Park Avenue Hotel, introducing a residential approach to hospitality inspired by the character and charm of a classic Manhattan townhouse.

Kimpton Ashbel New York-Park Avenue, a boutique luxury hotel in Midtown Manhattan, is now open at 70 Park Avenue

The newly opened Park Avenue hotel features 205 guestrooms, including 14 family-friendly connecting rooms, each designed with tailored interiors, soft palettes, and generous proportions that create a calm and comfortable place to unwind after a day in the heart of New York City.

Sofia L. Vandaele, Regional Director of Operations for IHG Luxury & Lifestyle in New York, said: "Kimpton Ashbel is the kind of hotel that feels like a secret key, a personal enclave for those who know where to look. Our intention is for guests to feel as though they are stepping into the home of a stylish New Yorker. An elegant Manhattan socialite and a warm and inviting host."

Designed to feel more like a private home than a traditional hotel, the experience replaces a conventional lobby with interconnected residential‑style spaces, including a foyer, living room, and family room framed by preserved architectural details that encourage guests to linger, gather, or work throughout the day. Oversized wood portals frame original architectural columns and windows, linking each space while preserving the building's historic character.

Sofia adds: "Kimpton Ashbel is a haven for travelers who view luxury not by extravagance, but by the comfort of belonging, the beauty of serenity and the rare feeling of knowing the city before smartphones. Our location is special, for the city, our guests, and Kimpton. It was here that Kimpton was first introduced in New York City. Today, still surrounded by storied museums, libraries and homes, we return to offer a timeless hideaway for work, wandering, connection and all the moments in between. This is a place where guests can unwind with a laptop and coffee, gather with friends, or retreat to their room to relax and recharge."

STAYS WITH SOUL
Every Kimpton has a soulful essence, from its history, creators, locale, community, and people, and Kimpton Ashbel New York-Park Avenue is no exception. Since 1928, 70 Park Avenue has offered a unique perspective on New York City, anchoring the hotel within one of Midtown Manhattan's most storied corridors. Originally built during the Beaux-Arts architectural movement, the hotel showcases a commitment to proportion, grace, craftsmanship, and enduring elegance, evident in its limestone façade and soft, natural light throughout the interiors.

As fate would have it, 70 Park Avenue has returned to Kimpton, now transformed with a revived outlook to ignite the human spirit and enchant guests out of the everyday, all with a quintessentially Kimpton wink of curiosity around every corner. Warm woods, soft palettes and curated gold accents are layered with playful flushes of color and eclectic artwork through design concepts led by Busta Studio. Furnishings are custom designed for the hotel, combining refined metal accents with organic textures to give each space a distinct sense of character.

Kimpton Ashbel's beautifully restored original limestone-clad façade anchors the hotel in its architectural past, while the interiors introduce a more intimate and residential flow. Upon entering, the ground floor unfolds a series of residential spaces; a foyer, living room, and family room, seamlessly linked by oversized wood portals that incorporate preserved architectural columns, original steps, and historic windows – creating a natural transition between past and present.

At the heart of the hotel, Kimpton Ashbel's living room serves as a welcoming gathering space, a floating open-space banquette, and a library. Just beyond, Park & Bel, the hotel's café concept, brings the energy of Park Avenue into the space, offering a natural extension of the living room where guests can gather, work remotely, or recharge throughout the day. A curated art program from Soho Art Gallery brings personality, featuring commissioned original mixed-media art pieces, while a collection of Assouline and Taschen books enriches the space, reinforcing the hotel's sense of refined residential living.

LOCAL HOT SPOTS
True to the Kimpton brand, restaurants and bars are designed to stand alone as destinations in their own right, loved locally by the community and hotel residents alike. At Kimpton Ashbel, Park & Bel serves as both a neighborhood café and a social gathering place, positioned to become a go‑to spot along Park Avenue where guests can purchase expertly brewed coffee, reconnect with friends, or recharge in a cozy, thoughtfully appointed setting.

The menu transitions from artisanal baked goods, seasonal fruit, and hearty sandwiches in the morning to a selection of small plates designed for evening enjoyment, offering a relaxed and social complement to the space during later hours. Additionally, Kimpton Ashbel also offers guests a curated bar cart featuring à la carte premium cocktails, craft beer, and fine wine, adding a sense of occasion to every stay.

A COMMUNITY OF CONNECTION
At Kimpton Ashbel New York-Park Avenue, meaningful connection begins with comfort and ease. Every space within the Midtown Manhattan hotel is intentionally designed to invite conversation, curiosity, and serendipity, from chance meetings over morning coffee to travelers exchanging recommendations in the living room.

Mornings are energized by the signature Kimpton Kickstart program, featuring coffee and tea that set a positive tone for the day, while Park & Bel is available with a full café menu. In the evenings, Kimpton Social, the hotel's nightly hosted social hour, brings guests together over beer and wine in a relaxed and inviting atmosphere. Both the Kickstart program and Social Hour are complimentary for hotel guests.

Kimpton Ashbel joins Kimpton's growing portfolio of properties and destinations. Among the newest hotels to the portfolio include Kimpton Mirador Pacific Grove Monterey and Kimpton Miralina Resort & Villas. For more information or to book a stay at a Kimpton hotel, visit www.kimptonhotels.com or https://www.ihg.com/onerewards/content/us/en/tier-benefits.

NOTES TO EDITORS

IMAGERY
Imagery is available to download from the media gallery here.

About Kimpton Ashbel New York-Park Avenue:

Kimpton Ashbel New York-Park Avenue recently debuted in Midtown Manhattan as one of the city's newest Kimpton Hotels & Restaurants properties. Steps from Grand Central Station and surrounded by tree-lined streets, Gilded Age mansions, and classic architecture, the reimagined 1928 Beaux-Arts landmark features 205 stylish guestrooms and suites, many with sweeping views of Park Avenue and the Empire State Building.

Inspired by New York City's iconic townhouses, the interiors balance elegance and modern sophistication with organic textures, light wood tones, and curated gold accents, creating a serene retreat in the heart of the city. At the center of the hotel, guests and locals can gather in the welcoming living room, anchored by Park & Bel, an innovative café concept, designed as a neighborhood favorite and must-visit for hotel guests, complemented by a thoughtfully curated bar cart experience.

Kimpton Ashbel New York-Park Avenue embodies the brand's legacy of thoughtful hospitality, design-forward spaces, and a true sense of place in Midtown Manhattan. For more information, visit www.ashbelhotelnewyork.com.

About Kimpton

Kimpton, part of IHG Hotels & Resorts' luxury and lifestyle portfolio, pioneered the concept of hotels combining sophisticated, playful design with a more human guest experience in the U.S. Founded in 1981, the San Francisco-born luxury lifestyle brand now operates 83 properties and over 100 restaurants, bars and lounges across urban locations, resort destinations and up-and-coming markets globally. From inspiring design and expansive experiences to forward-thinking flavors that feed the soul, Kimpton spaces act as vibrant hubs for sparking authentic human connections. Every detail is thoughtfully curated and artfully delivered so that guest experiences remain meaningful, unscripted and inspired.

For more information, visit KimptonHotels.com.

About IHG Hotels & Resorts

IHG Hotels & Resorts (tickers: LON:IHG for Ordinary Shares; NYSE:IHG for ADRs) is a global hospitality company, with a purpose to provide True Hospitality for Good.

With a family of 20 hotel brands and IHG One Rewards, one of the world's largest hotel loyalty programs with over 145 million members, IHG has more than one million rooms and 6,800 open hotels in over 100 countries, and a development pipeline of over 2,300 properties.

• Luxury & Lifestyle: Six Senses, Regent, InterContinental, Vignette Collection, Kimpton, Hotel Indigo
• Premium: voco hotels, Ruby, HUALUXE Hotels & Resorts, Crowne Plaza Hotels & Resorts, EVEN Hotels
• Essentials: Holiday Inn Express, Holiday Inn Hotels & Resorts, Garner hotels, avid hotels
• Suites: Atwell Suites, Staybridge Suites, Holiday Inn Club Vacations, Candlewood Suites
• Exclusive Partners: Iberostar Beachfront Resorts

InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. Approximately 385,000 people work across IHG's hotels and corporate offices globally.

Visit us online for more about our hotels and reservations and IHG One Rewards. To download the IHG One Rewards app, visit the Apple App or Google Play stores.

For our latest news, visit our Newsroom and follow us on LinkedIn.

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SOURCE Kimpton Ashbel New York - Park Avenue

FAQ

When did Kimpton Ashbel New York-Park Avenue (IHG) officially open?

The hotel opened on April 22, 2026, debuting a restored 1928 Beaux‑Arts property on Park Avenue. According to IHG, the property launches with 205 guestrooms and public residential-style spaces aimed at both guests and locals.

How many rooms does Kimpton Ashbel New York-Park Avenue (IHG) have?

Kimpton Ashbel features 205 guestrooms, including 14 family-friendly connecting rooms. According to IHG, room designs use soft palettes and tailored interiors to create a calm, residential atmosphere for Midtown Manhattan stays.

What dining and social amenities does Kimpton Ashbel (IHG) offer guests?

The hotel includes Park & Bel, a neighborhood café, and a curated bar cart with cocktails, craft beer, and wine. According to IHG, Park & Bel serves morning pastries and sandwiches and small plates in the evening as a local gathering spot.

Where is Kimpton Ashbel located and what nearby landmarks serve guests?

Kimpton Ashbel is at 70 Park Avenue, steps from Grand Central Terminal and Bryant Park. According to IHG, the location offers views of Park Avenue and proximity to museums, libraries, and Midtown business and leisure destinations.

Are there complimentary guest programs at Kimpton Ashbel New York-Park Avenue (IHG)?

Yes. The hotel offers complimentary Kimpton Kickstart morning coffee and tea and nightly Kimpton Social hosted hours for guests. According to IHG, both programs are designed to foster connection and community within the hotel's residential public spaces.