US: Four beachfront hotels in Islamorada, Florida, have been acquired by KSL Capital Partners and will be managed by Davidson Hospitality Group.
The village of Islamorada is known as the Sport Fishing Capital of the world. It’s set in the Florida Keys, halfway between Key West and Miami. The properties, which include Amara Cay Resort, La Siesta Resort & Marina, Pelican Cove Resort & Marina, and Postcard Inn Beach Resort & Marina, are all located in the village and each will undergo renovations.
The portfolio collectively comprises 389 rooms, more than 5,200 square feet of meeting and event space, and nine food and beverage venues.
John Ege, partner at KSL, said: “KSL has long pursued growth opportunities in the Florida Keys and we are thrilled to be joining the incredible Islamorada community with our long-time partners at Davidson Hospitality Group. We look forward to embarking on the journey to significantly invest in these resorts. KSL backs best-in-class management teams, and Pivot, Davidson’s lifestyle platform, is a perfect fit to drive operational excellence and enhance these properties.”
President of Davidson Hospitality Group, Tom Geshay, said: “We are excited to expand our footprint even further in the booming Sunshine State, bringing our statewide property count to 10, nine of which are iconic resort or waterfront boutique assets. KSL has an exceptional heritage acquiring and elevating iconic, destination assets and, in conjunction with Davidson’s in-house design and construction team, will create a new level of quality in these irreplaceable properties, thereby tapping into the unique and eclectic elements that make The Keys one of the most desirable and highest demand markets in the nation.”
Davidson Hospitality Group manages a group of 67 hotels and resorts, over 165 restaurants, bars and lounges, and nearly 1.5 million square feet of meeting space across the US. Under its lifestyle operating arm Pivot, the group has recently been appointed to manage The Alexander in Indianapolis.
KSL Capital Parnters is a private equity firm with a focus in five primary sectors: hospitality, recreation, clubs, real estate and travel services. Since 2005, KSL has raised approximately $15 billion of capital across both debt and equity funds.