kimpton's been around 30 years. it's the biggest there. a really good fit with our existing boutique business which is hotel indigo at a lower price point. so we're creating the world's leading boutique and lifestyle group in a fast-growing sector. >> yeah. it is a hot sector. many analysts have said they like this deal. the one question when it comes to boutiques, this is a fast-changing industry. how do you make sure you stay relevant and competitive? >> that's a great question. this business has been successful for 30 years. i think they've got a good recipe. and excellent food and beverage. they have real destination restaurants, great design and boutiques to make them a really personal service. on our side we have really good consumer insight. and you put that together, i think you can definitely stay ahead of the market. and understand your consumers really well. >> richard, we are waking up to some turmoil around the globe this morning watching what's happening in russia. i believe you are one hotel in moscow. stuff like this can en

there are real opportunities to do the same with kimpton.demand for more personal products, for great experiences, for great design. we see tons of opportunity. this is an asset light model. why do you need to buy this business rather than pushing organically to develop your own? >> great question. we have developed a number of brands. developed the wellness brand in the u.s., but this brand is well-established. they have amazing locations in all of the key markets in the francisco, new york, boston, chicago, miami. impossible to replicate today. so buying it makes a lot of sense. for us, you just could not replicated and the ability to take that incredible base, great , it ision, award-winning right in mind with our strategy to move into this sector at the price point and take it overseas, it fits perfectly. buying this company at this stage in its growth is the right thing to do rather than trying to replicate it. >> we have also been talking extensively about russia today. how concerned are you about what is going on in the country? how m

largest ki --mp -- kimpton is the largest in the u.s..ctively exploring running for president and establishing a political action committee that will allow him to raise money and engaging campaign style travel. steve cohen spent years fending off prosecutors and fbi agents, now he wants to hire some of them, according to "the new york times." he is looking for a former prosecutor and several federal agents to join his fund. he was once investigated for insider trading, but never accused of wrongdoing, important to point out, so i didn't say it. theow moving onto incredibly sinking ruble. traders around the world -- around the world watched this chart all morning. we saw the russian currency all but collapsed. the line going up means that the value of the ruble is going down . let's dive deeper into this with joe wiesenthal, the executive editor of bloomberg markets. if you have not seen him on area this morning, i hope that you follow him on twitter, his head has been exploding about this over the last four hours. i do follow you on twitt