Hawaii-based Outrigger Hotels and Resorts is set for expansion after being sold to the travel and leisure investor owner of The Belfry in the West Midlands and Cameron House in Scotland.
KSL Capital Partners agreed the deal for an undisclosed sum overnight.
Family-run Outrigger operates or has under development 37 properties with approximately 6,500 rooms in Hawaii, Guam, Fiji, Thailand, Mauritius and the Maldives.
Outrigger’s current management team will continue to lead the company and its headquarters will remain in Honolulu.
The company’s president and chief executive David Carey said: “As one of the world’s leading investors in hospitality, KSL has the capital capacity to elevate Outrigger to the next level – infusing additional resources into our current assets and helping to accelerate our long-term growth goals.
“Without question, this is an exciting time for Outrigger; our brand has never been stronger and it is with enthusiasm that we look forward to the advantages that this transaction will create for our valued hosts, guests and communities we serve.”
Outrigger Enterprises Group chairman Charles Kelley added: “Since my grandparents – Roy and Estelle Kelley – founded Outrigger in 1947, our family-run hospitality business has created world-class vacations for millions of travelers and life-changing employment opportunities for our hosts.
“Our family is humbled to have had the privilege of leading this company for nearly 70 years and to have worked with some of the best in the industry.
“We have a responsibility to make strategic decisions today that put our company on the best path for future success; we are confident that KSL will make Outrigger more resilient in today’s global hospitality market.”
KSL partner Marty Newburger said: “Outrigger is a well-established, highly successful company that has built a unique portfolio of world-class hotels.
“For nearly seven decades, the Outrigger team has been focused on providing authentic, localised experiences for guests in iconic resort destinations.
“We are excited to continue the strong tradition that the Kelley family has built. Outrigger’s and KSL’s values are aligned with creating lasting and memorable experiences for our resort guests at properties that are integral to the communities in which they operate.
“Outrigger owns and operates resorts in truly remarkable destinations and KSL is excited be a part of the next chapter of Outrigger’s extraordinary story.”
KSL’s portfolio also includes the Village Hotel Club chain of 28 boutique properties throughout the UK and Squaw Valley Alpine Meadows, one of the leading ski resorts in North America.