KSL Resorts, a full-service hospitality company based in California, welcomed Michael Palmeri as SVP, head of investments & business development.
In his new role, Palmeri is responsible for building on the success of KSL Resorts, leading investments and business development strategies, including hotel investments, property management, and asset management. "My objective is to pursue investment opportunities as well as grow our third-party property management and asset management platforms," Palmeri said in a statement
“We are delighted that Michael is joining us. His experience, relationships, and results-oriented approach will play a key role in positioning KSL Resorts for the future," Scott Dalecio, CEO of KSL Resorts, said in a statement. "Michael will also support business development efforts for Outrigger Hotels & Resorts, which KSL Resorts currently asset manages.”
Previously as SVP and head of acquisitions & development at Loews Hotels, Palmeri was responsible for leading the growth of the Loews Hotels portfolio, including sourcing, evaluating, negotiating, transacting and structuring hotel real-estate investments. Palmeri has more than 15 years of experience as a hospitality and lodging real-estate professional, including past roles as VP & principal, acquisitions & asset management at Abacus Lodging Investors in Chicago; and director, acquisitions & asset management at Chartres Lodging Group in San Francisco. He has closed on $4 billion in real-estate transactions, with deal sizes ranging from $20 million to more than $500 million.
A graduate of Cornell University School of Hotel Administration, Palmeri concentrated on finance, namely investment management and real estate. He is relocating from New York to the greater Los Angeles area with his wife and two children.