KHP Capital Partners, a real estate private equity firm focused on acquiring and creating lifestyle hotels, names Co-Founder and Managing Partner Ben Rowe as chief executive officer, which comes as part of a planned succession process.
Rowe co-founded KHP with Mike Depatie and Joe Long in 2015, with the three former Kimpton Hotels and Restaurants executives initially serving as co-managing partners. Together, they have grown KHP to $1 billion of equity under management with a current portfolio of 20 lifestyle hotel investments.
Rowe originally joined Depatie and Long at Kimpton in 2003 and served as CFO of Kimpton from 2008 to 2015. While growing Kimpton into the world's largest lifestyle hotel brand and operator, the three partners also built the company's fund management platform, raising and investing the first three KHP funds, and then launching KHP as an independent company in 2015 following the sale of Kimpton to InterContinental Hotels Group.
"I have worked closely with Ben for the last 22 years, and I can say unequivocally that Ben is one of the smartest, hardest working and highest integrity individuals that I have ever worked with in the past 40+ years, and I've worked with some of the best in the industry," Long said in a statement. "Ben combines a visionary's wisdom and a deep competitive drive along with an attention to detail and a commitment to culture that makes him a great leader. Mike and I are lucky to have Ben as our partner, and we're thrilled to continue supporting him in whatever way possible as he leads KHP going forward."
Rowe's elevation to CEO is part of a long-term succession plan established to manage partner transitions and develop future leaders, ensuring a gradual transition that positions KHP for the future without losing the experience and wisdom of the founding team. As part of this plan, Jeff Stulmaker was named chief investment officer and partner in January 2022. Long will continue in his role as a managing partner alongside Rowe. Depatie, who stepped back into a founding partner role in 2020, remains active in new KHP investments and the oversight of the existing KHP portfolio as a member of the KHP Funds' Investment Committees, as will Long when he eventually transitions to a founding partner role.
"Ben has seamlessly transitioned into the role of CEO, and I have no doubt that KHP will grow to new heights under his leadership," Depatie said. "I've had the pleasure of working closely with Ben over the last 20-plus years, and I can confidently say there is no one better to lead KHP into the future."
Over his career, Rowe has played crucial roles in capital formation, investments, development, asset management, and hotel and restaurant operations. While CFO of Kimpton and then managing partner of KHP, Rowe has raised over $1 billion of equity and secured over $4 billion of debt financing. Together with Depatie and Long, he has overseen investments in 45 hotels totaling over $3 billion in value.