Investment firm acquiring Outrigger Hotels
Friday, 14 Nov, 2016
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Outrigger Hotels and Resorts is being acquired by Denver based investment firm KSL Capital Partners.
The deal will transfer Outrigger’s 37 properties in operation and under development, amounting to about 6.500 rooms.
Outrigger operates resorts in Hawaii, The Indian Ocean, Guam, Fiji and Southeast Asia.
It has been owned and operated by the founding Kelley family since forming nearly 70 years ago.
"As one of the world’s leading investors in hospitality, KSL has the capital capacity to elevate Outrigger to the next level, infusing additional resources into our current assets and helping to accelerate our long-term growth goals," said W. David P. Carey, CEO of the Outrigger Enterprises Group.
"Without question, this is an exciting time for Outrigger; our brand has never been stronger and it is with enthusiasm that we look forward to the advantages that this transaction will create for our valued hosts, guests and communities we serve."
The Outrigger management team will continue to run the business from their existing headquarters in Honolulu.
"We are confident that KSL will make Outrigger more resilient in today’s global hospitality market," said Outrigger board chairman Charles Kelley.
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