SUNBIZ

Outrigger Sale Expected To Take Resort Group To Next Level

The bid by KSL Capital Partners to acquire Outrigger Hotels and Resorts is expected to elevate Outrigger to the next level. President and chief executive of Outrigger Enterprises Group, David
11 Nov 2016 11:00
Outrigger Sale Expected To Take Resort Group To Next Level
Outrigger Hotels and Resorts

The bid by KSL Capital Partners to acquire Outrigger Hotels and Resorts is expected to elevate Outrigger to the next level.

President and chief executive of Outrigger Enterprises Group, David P. Carey, has highlighted this as KSL has reached a sale and purchase agreement to acquire Outrigger Hotels and Resorts.

Mr Carey said as one of the world’s leading investors in hospitality, KSL has the capital capacity to elevate Outrigger to the next level.

As per the agreement, an affiliate of KSL will acquire Outrigger’s 37 hotels, condominium complexes and vacation-rental properties which total 6500 rooms for a price that wasn’t disclosed.

The properties are spread across in Hawaii, Guam, Fiji, Thailand, Mauritius and the Maldives.

KSL Capital Partners travel investments include ski resort company Squaw Valley Alpine Meadows and the Monarch Beach Resort in Southern California, USA.

The transaction is subject to shareholder approval and customary closing conditions.

Mr Carey said they will infuse additional resources into their current assets and help to accelerate their long-term growth goals.

“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.”

Upon closure of the transaction, Outrigger’s current management team will continue to lead the company and the company’s headquarters will remain in Honolulu, Hawaii.

 

KSL Capital Partners

KSL is a leading investor in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services.

 



Five Square diwali dhamaka 2021


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.


Tower Insurance
FNPF
Covid 19 - SPC
Fiji Sun Instagram
Subscribe-to-Newspaper