KSL Adds Homestead and Barton Creek to Management Portfolio
LA QUINTA, CA, October 20, 2006. KSL Resorts, which has made its mark in the hospitality industry over more than a decade owning and operating some of the most famous resorts in the world, will soon be adding two legendary hotels to its management portfolio. They are The Homestead in Hot Springs, Va., and Barton Creek Resort & Spa in Austin, Texas. Both are being acquired by KSL Capital Partners, a private equity firm, in conjunction with their recently announced acquisition of ClubCorp, Inc. ClubCorp will retain KSL Resorts, an independent resort management company, to manage the two resorts when the transaction is complete at year end. KSL Resorts currently manages the historic Hotel del Coronado, the newly renovated La Costa Resort and Spa and the renowned Rancho Las Palmas Resort and Spa. Members of ClubCorp clubs, as well as members of Barton Creek and The Homestead, will continue to receive reciprocal privileges.
"KSL Resorts operates unique and memorable resorts, enhancing the guest experience through strategic capital improvements and exemplary service," said Scott Dalecio, president and chief executive officer of KSL Resorts. "We are excited to be managing these two resorts, whose outstanding reputations precede them."
The Homestead and Barton Creek Resort & Spa combine the stunning locations, world-class amenities and historical elements that are hallmarks of the KSL Resorts collection. The Homestead, a grand dame situated in Virginia's Allegheny Mountains, is a four-season retreat offering unmatched outdoor activities including golf, skiing, horseback riding, hiking and more. Founded in 1766, The Homestead is on the National Historic Landmark and boasts the distinction of being America's first resort. Barton Creek has played host to two Canadian Tour events and is consistently rated one of the top golf resorts in the world.
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