Denver Investor Bags Hawaiian Hotels
KSL Capital Partners has agreed to acquire Outrigger Hotels and Resorts for an undisclosed price. The deal includes all 37 of Outrigger’s portfolio of hotels, condominiums and vacation resort properties (about 6,500 rooms) in Hawaii and other places, such as Guam, Fiji, Thailand, Mauritius and the Maldives. KSL partner Marty Newburger says "for nearly seven decades, Outrigger has been focused on providing authentic, localized experiences for guests in resort destinations," and the new owners plan to carry on.
Denver-based KSL specializes in hotels and other travel and leisure properties. It owns Miraval Group, a spa and wellness company, and the Monarch Beach Resort in Dana Point, CA, among other things. The Kelley family is selling Outrigger, which dates from the late 1940s, when Roy and Estelle Kelley (who died in the '90s) built their first hotel in Waikiki, The Islander. Other properties followed as jet travel expanded tourism to Hawaii and other parts of the Pacific.