KSL Capital Partners (KSLCP) has announced that it has closed on its acquisition of the Rancho Las Palmas Resort & Spa from Strategic Hotels & Resorts, Inc. A former Marriott-managed hotel, the Rancho Las Palmas Resort & Spa is a 444-room destination hotel, located in the heart of Rancho Mirage, Calif., with an adjacent 27-hole golf course and world-class spa. As of July 15, Marriott Reward certificates were not accepted as payment for room/tax, nor will the Marriott Miles be issued for stays after this date. Existing rates and reservations will be honored. KSLCP plans a $30 million renovation and upgrade to the existing resort over the first 24 months following the acquisition. Improvements to the resort will begin immediately; the resort will remain open throughout the renovation. For more information, visit [www.kslcapital.com].
