Last month, an affiliate of Denver-based private equity group KSL Capital Partners acquired the Hawaii-based chain of Outrigger Hotels & Resorts—which operates, owns or manages 37 hotels in Hawaii, Guam, Fiji, Thailand, Mauritius and the Maldives.
Today, the deal is done. 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, which has been owned and operated by the Kelley family for 69 years, will continue operating the business across its holdings. 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.
“Outrigger has built a unique portfolio of world-class hotels in remarkable destinations,” Marty Newburger, a KSL partner, said in a statement. “We are honored to have the opportunity to invest in Outrigger and further enhance its focus on providing exceptional, authentic and localized guest experiences.”
Notably, Newburger mentioned “global growth in iconic resort destinations,” suggesting that the brand would continue to expand internationally.
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.