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Wed, 21 December 2016

KSL Capital Partners Completes Acquisition of Outrigger Hotels and Resorts

An affiliate of KSL Capital Partners has completed the acquisition of Outrigger Hotels and Resorts.

The sale includes all of Outrigger’s holdings, including its portfolio of 37 multi-branded hotels, condominiums and vacation resort properties throughout Hawaii and the Asia Pacific - Indian Ocean region.

KSL Capital Partners

Outrigger’s current management team, including long-time president and CEO W. David P. Carey, will continue to lead the company from its headquarters in Waikiki, Hawaii.

“Throughout our 70-year history, Outrigger has achieved tremendous success – growing from one property in Waikiki to 37 properties across ten time zones, employing thousands of hosts and welcoming hundreds of thousands of guests every year,” said W. David P. Carey. “KSL’s deep knowledge and experience in our industry, capital capacity and shared vision make it the perfect choice to lead Outrigger to still higher levels. With the deepest appreciation for the generations of wise stewardship of Outrigger by the Kelley family, we are truly looking forward to our next chapters with KSL.”

Goldman, Sachs & Co. acted as exclusive financial advisor and Latham & Watkins LLP acted as legal counsel to Outrigger on the transaction. Deutsche Bank Securities Inc. acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal counsel to KSL.

“Outrigger has built a unique portfolio of world-class hotels in remarkable destinations,” said Marty Newburger, KSL partner. “We are honored to have the opportunity to invest in Outrigger and further enhance its focus on providing exceptional, authentic and localized guest experiences. As we move forward with this new era for Outrigger, we are optimistic that it will continue global growth in iconic resort destinations and achieve even greater success.”

See other recent news regarding: KSL, Capital, Outrigger.

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