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.
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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