Private fairness organization KSL Capital Associates has obtained the Martin Resorts Selection and its five independent, boutique lodges.
The 5 accommodations totaling 346 rooms are situated on California’s central coastline concerning Los Angeles and San Francisco, according to a information release. They consist of the 54-vital Avila Lighthouse Suites, the 70-vital Pismo Lighthouse Suites, the 100-key Shore Cliff Resort, the 98-key Paso Robles Inn and the 24-vital Piccolo.
The phrases of the deal had been not disclosed. KSL Cash Associates intends to invest in the portfolio and to develop visitor features. KLS Resorts will manage the lodges.
Mike Mohapp, associate at KSL, stated in the release his organization will carry on the traditions of Martin Resorts and its founding family.
“We intend to fulfill the mission of the Martin family members, and we glance forward to constructing on this legacy by investments in these wonderful homes,” he stated.
In a different information launch about the administration offer, KSL Resorts President and CEO Scott Dalecio mentioned the corporation will concentrate on one of a kind programming and activation strategies for each and every of the motels.
“The Martin Resorts attributes all glide completely into our portfolio,” he reported. “Like lots of of the other earth-course resorts in our assortment, every single of these welcoming houses has considerably to provide its visitors from proximity to climbing trails to ocean sights to accessibility to the area’s prime wineries.”
Martin Resorts President and CEO Noreen Martin will sign up for KSL Resorts’ advisory board. Her late husband, Tom Martin, established the organization in 1999.
“KSL Resorts shares our enthusiasm for this location and our continued determination to this beautiful local community and is the quite best spouse to consider these substantially-liked lodges to even greater degrees of excellence,” she explained.
Return to the Hotel Information Now homepage.