An affiliate of KSL Capital Partners LLC has completed the acquisition of Outrigger Hotels and Resorts. The sale includes all of Outtriggers holdings, including its portfolio of 37 multi-branded hotels, condominiums and vacation resort properties throughout Hawaii and the Asia-Pacific-Indian Ocean region.
Outrigger will continue operating business as usual across its holdings, providing guests from throughout the world with its signature Ke Ano Waa (The Outrigger Way) hospitality. Outriggers 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.
W. David P. Carey said that throughout 70-year history, Outrigger has achieved tremendous success growing from one property in Waikiki to 37 properties across ten time zones, employing thousands of hosts and welcoming hundreds of thousands of guests every year. KSLs deep knowledge and experience in the industry, capital capacity and shared vision make it the perfect choice to lead Outrigger to still higher levels.
KSL partner Marty Newburger said that Outrigger has built a unique portfolio of world-class hotels in remarkable destinations. KSL is honored to have the opportunity to invest in Outrigger and further enhance its focus on providing exceptional, authentic and localized guest experiences. As they move forward with this new era for Outrigger, they are optimistic that it will continue global growth in iconic resort destinations and achieve even greater success.
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.