🠈 KSL Capital 🠊
KSL Capital
KSL Capital is a Denver based private equity firm led by Michael Shannon and Eric Resnick that specializes in recreational properties. East West Partners is an affiliate of KSL engaged in real estate investments.
It appears that the company was part of Kohlberg Kravis and Roberts. However, I could not find good information on the relation between the two firms. Many of the larger deals of the firm are still made in conjunction with KKR.
- 2006: KSL acquired Dallas based ClubCorp which owned 170 golf clubs for $1.8 billion.
History of ClubCorp
- 1957: Robert H. Dedman Sr. founded ClubCorp in Dallas.
- 1960: ClubCorp opened Brookhaven Country Club.
- 1966: ClubCorp opened The Lancers Club in Dallas.
- 1968: ClubCorp opened The University Club in Jacksonville, Florida.
- 1974: ClubCorp opened the The Metropolitan Club in Chicago's Sears Tower.
- 1981: ClubCorp acquired Firestone Country Club in Akron, Ohio. The club was established by Harvey Firestone in 1929.
- 1984: ClubCorp acquired Pinehurst Resort and Country Club in Pinehurst, NC for $16m.
- 1993: ClubCorp became a co-owner and manager of The Homestead and Barton Creek Resort & Spa.
- 1994: ClubCorp opened Capital Club in Beijing.
- 1996: ClubCorp opened Tower Club in Singapore.
- 1998: ClubCorp opened Boston College Club and University of Texas Club.
- 1999: ClubCorp purchased 16 golf and country clubs from Cobblestone Golf Group.
2010: KSL acquired Squaw Valley Development Company.
2010: ClubCorp acquired The Country Club of the South in Georgia.
2010: ClubCorp opened The Texas Tech Club in Lubbock, Texas.
2011: ClubCorp acquired InterContinental Montelucia Resort & Spa in Scottsdale.
2011: KSL acquired The Royal Palm Hotel in Miami for $130 million.
2011: ClubCorp opened The Hamlet, Willow Creek and Wind Watch in New York and Canterwood Golf & Country Club in Washington.
2012: KSL Acquired a 24% Interest in Whistler Blackcomb Holdings Inc., a ski area in British Columbia
2012: KSL acquired the Belfry Hotel and Golf Resort in West Midlands, United Kingdom.
2012 KSL acquired the Grove Park Inn Resort and Spa in Asheville, NC.
2012: ClubCorp added Mission Hills Golf Club & Resort in China
2013: ClubCorp opened Oak Tree Country Club in New Jersey and Cherry Valley Country Club in New Jersey.
2013: KSL acquired Malmaison and Hotel Du Vin for about £180 million.
- 2015: KSL sold Malmaison to the UK based Fraser Hospitality.
2013: ClubCorp sold Barton Creek Resort & Spa in Austin, La Costa Resort & Spa in Carlsbad, Rancho Las Palmas Resort & Spa in Rancho Mirage, Grove Park Inn in Asheville, and Homestead Resort in Hot Springs, Va. to Omni Hotels.
2014: KSL acquired Village Urban Resorts of the UK from De Vere Group. The collection had 28 properties.
2014 KSL acquired St. Regis Monarch Beach.
2014: KSL and Revolution Places form partnership to acquire Miraval Group in Tucson. It expanded to include resorts in Texas and Massachusetts.
Miraval History
Miraval Resort is located in Tucson. It has expand with locations in
- 1995: Miraval Resort opened its first resort in Tucson.
- 2014: Miraval acquired ESPA which creates skin care products.
- 2017: The Hut Group acquired ESPA.
- 2017: Hyatt Hotels acquired Miraval.
2014: ClubCorp sold Montelucia Resort & Spa from Omni Hotels
2014: ClubCorp acquired Sequoia Golf which included 50 clubs.
2015: KSL acquired Ventana Inn and Spa in Big Sur, Ca. The facility has 59 rooms and 78 camp sites.
2015: ClubCorp acquired clubs in North Carolina, Georgia, Virginia, Tennessee and Florida.
2015: KSL acquired Wellbiz Brands which owned "Element Massage," "Amazing Lash," "FIT36" and "Fitness Together" chains.
2015: Fraser Hospitality acquired Malmaison and Hotel du Vin which KSL acquired in 2013.
2015 KSL announced a $100 Million refinancing of the St. Regis Aspen Resort.
2016: KSL and others made $150m investment in iFly which offers indoor sky diving.
2016: KSL sold The James Royal Palm resort in South Beach, Fl to Chesapeake Lodging Trust (NYSE:CHSP).
2016: Ross Aviation, an affiliate of KSL, acquired 6 FBOs.
2016: ClubCorp closed University Club in Jacksonville Florida.
2016: KSL acquired Outrigger Hotels and Resorts based in Hawaii.
Outrigger History
- 1947: Roy and Estelle Kelley opened their first hotel.
- 1963: Kelley bought the old Outrigger Canoe Club from the Hawaiian Queen Consort Emma Kalanikaumakaʻamano Kaleleonālani Naʻea Rooke.
- 1967: Kelley built the Outrigger Waikiki and began developing the brand.
- 1982: Outrigger acquired the Prince Kuhio Hotel and entered the luxury hotel market.
- 1986: room count topped 7,000.
- 1989: Outrigger acquired the Royal Waikoloan Hotel.
- 1993: Outrigger acquired the >Kauai Hilton renamed to Outrigger Kauai Beach.
- 1996: Outrigger expanded internationally with the Outrigger Marshall Islands Resort.
- 1999: Outrigger sold its three star properties to OHANA Hotels and Resorts to concentrate on five star hotels.
2016: KSL and East West Partners acquired Snowmass Base Village which included the Viceroy Hotel.
2016: KSL and KKR acquired Apple Leisure Group from Bain Capital Partners.
2017: KSL, East West Partners, Henry Crown, and Aspen form a holding company for ski resort properties, which they later named Alterra Mountain Company.
2017: An affiliate of KSL acquired the Hotel Viking in Rhode Islands which will be managed by Davidson Hotels & Resorts.
2017: Certain Investment Funds by Apollo Global Management for $1.1 Billion.
2018: WellBiz acquired Scottsdale based Amazing Lash Studios
2018: Wellbiz sold the FIT36 brand.
2018: KSL invested in Under Canvas which offers glamping adventures near popular US Parks.
2018: A KSL affiliate made an investment in Baillie Lodges which owns luxury lodges in Australia.
2018: KSL and Davidson Hotels acquired Margaritaville Hollywood Beach Resort.
2019: KSL invested in Orange Lake Resorts based in Orlando.
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References:
- Business Wire = KSL Acquires ClubCorp (Drawn 5/11/2019)
- Wikipedia - ClubCorp (Drawn 5/12/2019)
- Wikipedia - Outrigger Hotels (Drawn 5/15/2019)
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