KSL Capital Partners
KSL Capital Partners is a private equity firm specializing in the hospitality industry. It is headquartered in Denver, Colorado, United States.[1][2][3]
Overview
It is a successor to KSL Recreation Corp, owned by Kohlberg Kravis Roberts.[3] It was co-founded in 1992 by Michael Shannon, former President and CEO of Vail Resorts, and Eric Resnick.[1][2][3][4] [3] In 2002, it bought ClubCorp.[3] It holds US$3.4 billion in assets.[1] It maintains offices in Denver and New York City.[1] In December 2014, KSL confirmed its acquisition of British hotel and leisure firm De Vere Group for the sum of £485 million.[5]
Investments
- The Belfry
- ClubCorp
- East West Partners
- The James Royal Palm
- Malmaison (hotel chain) and Hotel du Vin
- Miraval Resort & Spa
- Squaw Valley Ski Resort / Alpine Meadows (ski resort): It has been reported in the press that KSL seeks to combine the two resorts into a mega resort through acquisition of White Wolf Mountain.[6] If connected, the combined ski area would be the second-largest resort in North America, behind Whistler Blackcomb.
- St. Regis at Monarch Beach
- Realized Control
KSL Capital is the owner of Squaw Valley Ski Area in the area code of 96146, also known as Olympic Valley, Ca. KSL is against the incorporation of Olympic Valley as a town. Olympic Valley is currently part of Placer County and Placer is one of the most aggressive pro-growth counties in the United States. By current estimates KSL has spent in excess of $500,000.00 to fight incorporation. Please see the Placer County Elections website, under Campaign Disclosures, ref Squaw Valley Ski Holdings.
KSL first proposed a 3200+ room development several years ago. KSL has had several setbacks in its entitlement process and cancelled its project development in favor of a programatic development. The reason for the change is not known, though there is speculation. KSL is not proposing any actual buildings, only revised entitlements to build.
Groups have formed in Olympic Valley and adjacent areas including Friends of Squaw Valley friendsofsv.org and Incorporate Olympic Valley which seeks to retain local control of decision making. Other groups include Friends of Alpine Meadows, Sierra Watch, Friends of Squaw Creek and Friend of Shirley Canyon.
A draft EIR is supposed to be published in the early part of 2015, it is unknown when it will actually be delivered. The Squaw Valley Public Service District is supposed to provide an updated Water Supply Assessment (WSA) in the near future. The current WSA did not evaluate the water issues of the last three (3) year historic drought.
KSL has funded, via its Squaw Valley Ski Holding a group named Save Olympic Valley www.saveolympicvalley.org
Other issues for the development of Olympic Valley / Squaw Valley include the proposed placement of Heavy Commercial maintenance in Shirley Canyon currently designated by Placer County as Conservation Preserve.
- Oriented Investments
- Barton Creek Resort & Spa
- The Bay Club Company
- The Grove Park Inn
- The Omni Homestead Resort
- La Costa Resort and Spa
- Montelucia Resort & Spa
- Orion Expedition Cruises
- Rancho Las Palmas Resort & Spa
- KSL Recreation Corporation
External Links
References
- 1 2 3 4 Official website
- 1 2 Bloomberg BusinessWeek
- 1 2 3 4 5 Glenn Hunter, ClubCorp’s Extreme Makeover, D Magazine, 3.12.2008
- ↑ Forbes: Michael Shannon
- ↑ "US private equity firm KSL Capital Partners buys De Vere's Village resorts for £485m". City AM. Retrieved 2014-12-19.
- ↑ Shueh, Jason & Renda, Matthew (November 3, 2011). "State of the Lake Tahoe ski industry: 'This is our time'". North Lake Tahoe Bonanza. Retrieved November 10, 2012.