Omni hotels & resorts and ksl capital partners announce closing of the purchase and sale of five distinguished resort properties
Purchase and Sale of Five Luxury Resorts
IRVING, Texas (July 1, 2013) – Omni Hotels & Resorts and KSL Capital Partners, LLC, a leading private equity firm, today announced the closing of the purchase and sale of five distinguished resort properties. The five iconic resorts have been reflagged under the Omni brand, representing a significant expansion of Omni’s already-robust Resort Collection.
The reflagged properties are the Omni Barton Creek Resort & Spa in Austin, TX; Omni La Costa Resort and Spa in Carlsbad, CA; Omni Rancho Las Palmas Resort & Spa in Rancho Mirage, CA; The Omni Grove Park Inn in Asheville, NC; and The Omni Homestead Resort in Hot Springs, VA. The acquisition extends Omni’s resort portfolio to the West Coast and adds other strategically important locations like the Texas Hill Country.
“We could not be more proud to assume the ownership and management of each of these iconic resorts,” said Mike Deitemeyer, president of Omni Hotels & Resorts. “KSL positioned each of these properties not only as appealing destinations for guests but as integral parts within each of their surrounding local communities. We look forward to carrying on the tradition of excellence exemplified by each of these properties and their employees and welcoming both new and returning guests for years to come.”
KSL had acquired the resorts over a period of years, and had recently invested heavily in the properties. New additions under KSL include the Canyon Ranch SpaClub and the new Allegheny Springs family pool complex at The Omni Homestead; a nearly complete, expansive renovation of historic The Omni Grove Park Inn to restore the grandeur of the resort as part of its centennial celebration; upgrades to the guestrooms and meeting spaces at Omni Barton Creek; a nearly $50 million renovation of Omni La Costa to the guestrooms, public spaces, golf courses, an entirely new adult pool facility and membership lounge; and the addition of the Splashtopia family water playground at Omni Rancho Las Palmas.
“It has been our privilege to be a part of the storied history of each of these extraordinary resorts,” added Mike Shannon, Managing Director of KSL Capital Partners. “The success of these resorts has been, and will continue to be, made possible by rich traditions, fabulous locations and amenities, and the dedication of over 4,000 employees. We have no doubt that the skill and resources that Omni Hotels & Resorts will bring to each of these properties will only help to further their celebrated legacy.”
The Omni portfolio expansion adds 2,362 guestrooms, 304,000 square feet of meeting and function space, 34 dining options, 48 retail locations, 12 golf courses, three family water complexes, a ski facility and five spas.
The resorts include:
Omni Barton Creek Resort & Spa: Located in the heart of Texas Hill Country, the resort combines impeccable service with its own classic brand of casual elegance in a luxurious setting. Heralded as the number one golf resort in Texas, the Omni Barton Creek boasts four nationally acclaimed championship courses as well as the state's only Callaway Performance Center. The resort features 318 spacious and beautifully appointed guestrooms, a recently renovated full-service spa, superior dining options, and fine meeting and wedding facilities.
Omni La Costa Resort and Spa: Fresh from a $50 million renovation and nestled among the beautiful coastal foothills of Carlsbad, CA, Omni La Costa boasts a new look including 611 newly appointed guestrooms, suites and villas, an adult-only pool venue, the Coastal Events Center, an expanded Athletic Club as well as two redesigned signature golf courses. Honored as the #1 Wellness Spa in the Nation by Spa magazine, the 43,000-square-foot Spa at La Costa includes a private pool, café and therapeutic reflexology path. Acclaimed restaurants – Legends Bistro and Blue Fire Grill – present an updated take on locally inspired cuisine and culinary delights.
Omni Rancho Las Palmas Resort & Spa: The 444-room Omni Rancho Las Palmas Resort & Spa is classic Rancho Mirage re-imagined for the 21st-century traveler. The resort’s new offerings include stylish guestrooms, the signature bluEmber restaurant, R Bar lounge, and Splashtopia, an exciting water playground complete with water slides, lazy river and sandy beach. The resort also features a 20,000-square-foot spa, a 27-hole Ted Robinson-designed golf course, a 25-court Peter Burwash International tennis center, and 41,000 square feet of flexible meeting and event space.
The Omni Grove Park Inn: The AAA Four-Diamond Omni Grove Park Inn is currently undergoing a $25 million dollar restoration and renovation scheduled to be complete by summer 2013, which coincides with the property’s centennial. Noted for understated elegance and southern charm, ten U.S. Presidents and countless luminaries from the worlds of art, entertainment, sports and politics have stayed at this hotel. Guests may relax in one of 514 guestrooms and themed suites, enjoy a drink by one of two extraordinary 14-foot fireplaces or watch the sunset from a rocking chair. The property offers sweeping views of the Blue Ridge Mountains, delectable restaurants, a Donald Ross golf course, tennis and fitness center, award winning 40,000 square-foot spa and spacious convention facilities.
The Omni Homestead Resort: The Omni Homestead Resort is one of America's most storied resorts, offering unparalleled hospitality in a 2,000-acre setting within the Allegheny Mountains of southwestern Virginia. In summer 2013, the hotel will complete a $26 million renovation that will culminate with its new Canyon Ranch SpaClub. The Homestead is distinguished by 483 luxurious guestrooms and suites, 72,000 square feet of meeting space, a wide array of fine and casual dining choices, championship golf courses that include one of the nation's finest mountain courses (The Cascades), Allegheny Springs, a two-acre family-friendly water attraction complete with lazy river, and water play zone. The resort also offers the South's first downhill ski area, Equestrian Center and show ring, top-rated Shooting Club, Back Country Driving School, off-road Segway tours and a wealth of other recreational attractions.
For additional information please visit omnihotels.com or call 1-800-The-Omni. Travelers or media can also follow Omni Hotels & Resorts at www.Facebook.com/OmniHotels and Twitter.com/OmniHotels.
ABOUT OMNI HOTELS & RESORTS
Omni Hotels & Resorts creates genuine, authentic guest experiences at nearly 60 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. From exceptional golf and spa retreats to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options. Known for its award-winning, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company’s “Power of One” associate empowerment program. The brand is frequently recognized by top consumer research organizations and travel publications. To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.
About KSL Capital Partners, LLC
KSL is a private equity firm specializing in travel and leisure investments in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado and New York. In addition to the properties being sold, KSL’s current portfolio includes some of the premier properties in travel and leisure. In the United Kingdom, funds advised by KSL own The Belfry in the West Midlands and the Malmaison and Hotel du Vin chains. In the United States, funds advised by KSL own Montelucia Resort & Spa, The James Royal Palm and ClubCorp, one of the world’s largest owners of private golf and business clubs. KSL also owns other premier recreation businesses, including Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America; and Western Athletic Clubs, the owner and operator of luxury fitness clubs in California. For more information, please see kslcapital.com