Report: Outrigger Hotels Sold to Denver-Based Private Equity Firm

(Photo by ronstik/iStock/Getty Images Plus/Getty Images) Photo by ronstik/iStock/Getty Images Plus/Getty Images

The Star Advertiser is reporting that Outrigger Hotels and Resorts, which has been owned and operated by the Kelley family for 69 years, has signed an agreement to sell the business to Denver-based KSL Capital Partners LLC.

The transaction, which is expected to close in 60 to 90 days for an undisclosed price, includes all 37 hotels, condominiums and vacation resort properties operated, owned and managed by Outrigger. After the transaction closes, business is expected to continue as usual with the company’s name kept intact and its headquarters remaining in WaikikiHawaii

However, according to the report, the deal does put the planned $100 million renovation of the Outrigger Reef on hold while KSL evaluates the best direction for the property, which Outrigger owned in fee simple.


Like this story? Subscribe to Daily News & Deals!

Featuring breaking news on the latest product launches, deals, sales promotions, and executive appointments. Be sure to sign-up for this free industry daily newsletter.

David P. Carey, who is married to the former Kathy Kelley, the granddaughter of Outrigger founders Roy and Estelle Kelley, will continue as the company’s president and CEO, according to the report. 

While the family-owned Outrigger Enterprises has deep Waikiki roots, over the last two decades it had emerged as one of the largest privately held hotel firms in the Pacific, according to the report. 

Keep visiting for more updates on this story and click here for the Star Advertiser story.

Suggested Articles:

The hotel will implement comprehensive new cleanliness program to promote the health and wellness of guests and cast members. Read more here.

How do travel advisors rate the cruise sales arena? Have they shifted their sales mix? When will normal cruise revenues return? Check out our survey.

Croatia officially reopening of its borders to travel from European Union nations, as well as from the U.S. Here's what travelers can expect.