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LOS ANGELES, May 8, 2017 /PRNewswire/ -- Davidson Hotels & Resorts welcomes the addition of Hotel Viking, an iconic 208-room historic property in Newport, Rhode Island, into its portfolio, under its luxury and lifestyle division, Pivot Hotels & Resorts. Known as the "City by the Sea," Newport once rivaled New York and Boston as a center of commerce and was the preferred vacation destination for "America's First Families." Today, it remains one of the most affluent summer vacation destinations in the Northeast and attracts nearly 3.5 million visitors annually. Hotel Viking is located in the heart of Newport on Bellevue Avenue, steps from Newport's famed historic mansions and other attractions located along its path. Davidson's transition follows the acquisition of the property by an affiliate of KSL Capital Partners, LLC earlier this month.

Originally opened in 1926, Hotel Viking's guestrooms are romantic, luxurious, and classically adorned. Egyptian cotton bed linens, pillow top mattresses and ornately carved headboards create a truly elegant environment. Brimming with stories of famous dignitaries, Hotel Viking has offered gracious hospitality for over 90 years in a setting of style, comfort and modern amenities. Later this year, the hotel will undergo a multi-million dollar update to its guestrooms and public spaces to further enhance the guest experience.

"We are elated to add yet another historic landmark to the Pivot portfolio," said Albert Smith, senior vice president of Pivot. "We look forward to incorporating the Hotel Viking's historic charm into our luxury division."

Hotel Viking features multiple food and beverage outlets, including the award-winning One Bellevue Restaurant & Bar and the Top of Newport, a rooftop bar with spectacular views of the Newport Harbor and Narragansett Bay. The property also features nearly 15,000 square feet of meeting space, fitness center, indoor heated pool, a unique wedding chapel, and a full service spa featuring a selection of massage and skin treatments.

About Davidson Hotels & Resorts‍

Davidson Hotels & Resorts is an award-winning, full-service hotel management company providing management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. Amassing one of the purest full-service hotel portfolios in the industry, Davidson, along with its lifestyle and luxury operating division, Pivot Hotels & Resorts, specializes in independent and branded assets in the upper-upscale to luxury segments including 42 hotels, nearly 13,000 rooms and 1.4 million square feet of meeting space across the United States. A trusted partner and preferred operator of Marriott, Hilton and Hyatt hotels, Davidson delivers hospitality and creates value for owners with every single hotel. More information can be found at www.davidsonhotels.com.

About Pivot Hotels & Resorts‍

Pivot Hotels & Resorts, the lifestyle and luxury division of Davidson Hotels & Resorts,
operates with a deep-rooted passion for continuous innovation, exceptional service delivery, revenue generation, inspired marketing and financial responsibility. Constituted by some of the most accomplished leaders in lifestyle hospitality, Pivot Hotels & Resorts caters to today's experience-seeking, adventure-minded traveler through inspiring design, thoughtful service, and one-of-a-kind experiences at each of its hotels and resorts. Pivot Hotels & Resorts operates eight hotels and resorts across the US with two more in development in Chicago and Nashville. More information may be found at www.pivothotels.com.

About KSL Capital Partners‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

For More Media Information:
Kerri Crannis/ Bonnie Olsen
The Zimmerman Agency • 850.668.2222
kcrannis@zimmerman.com

SOURCE Davidson Hotels & Resorts

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Aspen and Denver, Colorado, April 12, 2017 – Mammoth Resorts, the owner of Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain, today announced that it has entered into a definitive agreement to be acquired by a newly formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. (“Aspen”) and KSL Capital Partners, LLC (“KSL”). A Starwood Capital Group controlled affiliate owns a majority interest in Mammoth Resorts. The transaction is expected to close by the end of the third quarter of 2017, and is subject to certain closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. KSL and Aspen previously announced plans to acquire Intrawest Resorts Holdings, Inc. through this new entity.

“Mammoth has been Southern California’s mountain home since 1948”, said Rusty Gregory, Chairman and CEO of Mammoth Resorts. “After doubling down on our offerings to Southern California with the purchase of Snow Summit and Bear Mountain in 2014, joining this new venture led by Aspen and KSL is the next logical chapter in the story of Mammoth Resorts. This new platform, built around a collective passion for the mountains and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs. I am excited about the future prospects for Mammoth Resorts, our people and this new enterprise.”

“We have taken great pride in our ownership of Mammoth over the last 12 years. We invested in the mountains, our people, and planning for the long term future. Together with Mammoth’s talented management team, we successfully navigated a very tumultuous period. We implemented state of art marketing programs, installed modern RFID technology to improve traffic flow, and we added significant new lift capacity. By also acquiring and integrating Bear Mountain and Snow Summit into Mammoth we cemented Mammoth Resorts' position as the leading provider of ski and summer mountain experiences for all of Southern California,” said Barry Sternlicht, Chairman and CEO of Starwood Capital Group. “We had greater plans for Mammoth but the Great Recession and then some less favorable weather, interfered with our strategic aspirations in a finite life investment vehicle. We know Aspen and KSL have the experience, commitment, and balance sheet to help make our vision a reality.”

“If you live in Southern California and want to ski, Mammoth, June, Bear and Snow Summit universally come to mind first,” said Eric Resnick, CEO of KSL. “This transaction will allow the combined company to better serve Mammoth’s loyal customers while at the same time exposing these world class resorts to a broader audience. Mammoth Resorts does so many things well. We are excited to learn from their talented team.”

“Mammoth is a special place. The landscape is spectacular, the mountain is phenomenal and the place is in constant motion. Whether it’s the vibrant park and pipe scene, the high quality alpine racing programs, or excellent mountain biking, Mammoth has it all,” said Mike Kaplan, CEO of Aspen. “At the same time, Big Bear and Snow Summit serve local skiers perhaps better than anyone in the industry with high quality skiing and riding right on the doorstep of Southern California. We couldn’t be more pleased to work with these extraordinary properties.”

Season Passes ‍

For the full 2017-18 winter season, Mammoth will continue to honor the resort’s existing pass products that are currently on sale, including the Mountain Collective.

Advisors ‍

Morgan Stanley & Co. LLC is serving as financial advisor to Mammoth Resorts. Goldman, Sachs & Co. is serving as financial advisor to the new entity formed by Aspen and KSL.
Kirkland & Ellis LLP is serving as legal advisor to Mammoth. Hogan Lovells US LLP, Latham and Watkins LLP and Simpson Thacher & Bartlett LLP are serving as legal advisors to Aspen and KSL.

About Mammoth ‍

Mammoth Resorts is the leading four-season mountain resort operator in California. The company owns and operates a variety of recreation, hospitality, real estate development, food and beverage and retail enterprises. This includes Mammoth Mountain Ski Area, Snow Summit, Bear Mountain and June Mountain, which collectively host over two million annual skier/snowboarder visits. Mammoth Resorts is also the owner-operator of Tamarack Lodge and Resort, Mammoth Mountain Inn, Juniper Springs Resort, the Village Lodge, Mammoth Mountain Bike Park, Snow Summit Bike Park, Mammoth Snowmobile Adventures, Sierra Star Golf Course, and Bear Mountain Golf Course. For more information visit www.mammothresorts.com.

About Aspen Skiing Company ‍

Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk – as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen and Limelight Ketchum in Ketchum, Idaho, In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. For more information, visit www.aspensnowmass.com.

About KSL Capital Partners ‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

About Starwood Capital Group ‍

Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain nine offices in three countries around the world, and currently have more than 2,000 employees. Starwood Capital Group has raised over $37 billion of equity capital since its inception in 1991, and currently manages approximately $52 billion in assets. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 25 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at www.starwoodcapital.com.

Media Contacts:
Starwood Capital Group
Tom Johnson or Pat Tucker
Abernathy MacGregor
tbj@abmac.com or pct@abmac.com
212 371-5999

Aspen Skiing Company
Jeff Hanle
jhanle@aspensnowmass.com
970 300-7022

Aspen and Denver, Colorado, April 10, 2017 – Intrawest Resorts Holdings, Inc. (NYSE: SNOW), a leading North American mountain resort and adventure company, today announced that it has entered into a definitive agreement to be acquired by a newly-formed entity controlled by affiliates of the Aspen Skiing Company, L.L.C. (“Aspen”) and KSL Capital Partners, LLC (“KSL”). Under the terms of the merger agreement, Intrawest stockholders will receive $23.75 in cash for each share of Intrawest common stock, representing a total valuation of approximately $1.5 billion including debt obligations to be assumed or refinanced net of cash at closing. The transaction was unanimously approved by the board of directors of Intrawest.  Following the execution of the merger agreement, stockholders representing a majority of the voting shares of Intrawest delivered a written consent approving and adopting the merger agreement.  The transaction is expected to close by the end of the third quarter of calendar year 2017 and is subject to certain closing conditions including regulatory approvals.

“This transaction creates significant opportunity for Intrawest and delivers tremendous value to our current shareholders,” said Thomas Marano, Intrawest’s chief executive officer.  “The cash consideration of $23.75 per share represents a 40% premium over $16.97 per share, Intrawest’s closing stock price on January 12, 2017, the trading day prior to Reuters’ report speculating that the Company was exploring a potential sale.  We are excited to work with Aspen and KSL.  Our new partners bring additional financial resources and a shared passion for the mountains and our mountain communities.  Both Aspen and KSL are committed to helping Intrawest accelerate our plans to bring more value to our guests, more opportunities for our employees and more investment into our local communities.”

“Intrawest is a collection of remarkable properties in exceptional locations.  Each has its own unique story and its own unique sense of place,” said Eric Resnick, chief executive officer of KSL.  “We are committed to honoring the deep traditions of each resort, while working with Intrawest’s talented management team and employees to continue to serve both their guests and local communities.”

“The enthusiasm that Intrawest’s employees exhibit for the guest experience and for being responsible members of their communities is apparent in all they do.  We are excited to be part of the investment group that is going to work hard to help realize the collective potential of Intrawest’s portfolio of resorts,” said Mike Kaplan, chief executive officer of Aspen.

Season Passes

For the full 2017-18 winter season, each Intrawest resort will continue to honor the resort’s existing pass products that are currently on sale, including the Rocky Mountain Super Pass + and the M.A.X. Pass.

Squaw Valley Ski Holdings

While not a condition to the merger, Squaw Valley Ski Holdings, the parent company of Squaw Valley /Alpine Meadows resort and an affiliate of KSL, will also become part of the entity at closing, but continue to operate under its current management.

Additional Transaction Details

Further information regarding the transaction will be included in an information statement to be mailed to Intrawest shareholders.

Deutsche Bank Securities Inc., Moelis & Company LLC and Houlihan Lokey are serving as financial advisors to Intrawest.  Goldman, Sachs & Co. is serving as financial advisor to Aspen and KSL and is acting as financial advisor to the new entity.

Hogan Lovells US LLP, Latham and Watkins LLP and Simpson Thacher Bartlett LLP are serving as legal counsel to Aspen and KSL. Skadden, Arps, Slate, Meagher & Flom LLP and Blake, Cassels & Graydon LLP are serving as legal counsel to Intrawest.

About Intrawest Resorts Holdings, Inc.

Intrawest is a North American mountain resort and adventure company, delivering distinctive vacation and travel experiences to its customers for over three decades. The Company wholly owns and/or operates six four-season mountain resorts with approximately 8,000 skiable acres and over 1,100 acres of land available for real estate development. Intrawest’s mountain resorts are geographically diversified across most of North America’s major ski regions, including the Eastern United States, the Rocky Mountains, and Canada. The Company also operates an adventure travel business, the cornerstone of which is Canadian Mountain Holidays, a leading heli-skiing adventure company in North America. Additionally, the Company operates a comprehensive real estate business through which it manages condominium hotel properties and sells and markets residential real estate. Intrawest Resorts Holdings, Inc. common stock is traded on the New York Stock Exchange (NYSE: SNOW). For more information, visit www.intrawest.com.

About Aspen Skiing Company

Aspen Skiing Company owns and operates the four mountains of Aspen Snowmass – Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk – as well hospitality properties The Little Nell, Residences at The Little Nell, Limelight Aspen and Limelight Ketchum in Ketchum, Idaho, In addition, Aspen Skiing Company owns and operates numerous retail and rental locations through the resort and the Roaring Fork Valley. For more information, visit www.aspensnowmass.com.

About KSL Capital Partners

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Forward-Looking Statements

This press release includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “intend”, “expect”, “estimate”, “plan”, “outlook” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on current expectations and assumptions that are subject to risks and uncertainties.  Actual results could differ materially from those anticipated as a result of various factors, including: (1) conditions to the closing of the proposed transaction, including the obtaining of required regulatory approvals, may not be satisfied; (2) the proposed transaction may involve unexpected costs, liabilities or delays; (3) the business of Intrawest may suffer as a result of uncertainty surrounding the proposed transaction; (4) the outcome of any legal proceedings related to the proposed transaction; (5) Intrawest may be adversely affected by other economic, business, and/or competitive factors; (6) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (7) the ability to recognize benefits of the proposed transaction; (8) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; (9) other risks to consummation of the proposed transaction, including the risk that the proposed transaction will not be consummated within the expected time period or at all; and (10) the risks described from time to time in Intrawest’s reports filed with the SEC under the heading “Risk Factors,” including, without limitation, the risks described under the caption “Risk Factors” in Part I - Item 1A., “Risk Factors” in Intrawest’s Annual Report on Form 10-K for the year ended June 30, 2016, filed with the Securities and Exchange Commission (“SEC”) on September 8, 2016, as amended, and as may be revised in Intrawest’s future SEC filings. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. None of Intrawest, the Crown Family or KSL Capital Partners undertakes any obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

Additional Information and Where to Find it

In connection with the proposed transaction, Intrawest intends to file relevant materials with the SEC, including Intrawest’s information statement in preliminary and definitive form. Stockholders of Intrawest are strongly advised to read all relevant documents filed with the SEC, including Intrawest’s information statement, because they will contain important information about the proposed transaction. These documents will be available at no charge on the SEC’s website at www.sec.gov. In addition, documents will also be available for free on Intrawest’s website at ir.intrawest.com.

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CHICAGO--(BUSINESS WIRE)-- Hyatt Hotels Corporation (NYSE: H) today announced that Hyatt has acquired Miraval Group, the renowned provider of wellness and mindfulness experiences, from an affiliate of KSL Capital Partners, LLC.

For over 20 years, Miraval’s flagship property in Tucson, Ariz. has been considered one of the nation’s leading wellness resorts, offering a comprehensive program of imaginative, authentic and meaningful activities, experiences and personal treatments designed to help guests live life in balance. Along with acquiring the flagship Miraval Arizona Resort & Spa, Hyatt will continue Miraval’s plans to redevelop the recently acquired 220-acre Travaasa Resort in Austin, Texas and pursue the acquisition and redevelopment of the 380-acre Cranwell Spa & Golf Resort in Lenox, Mass. The transaction also includes the acquisition of the Miraval Life in Balance Spa brand, which opened its first location in Dana Point, Calif. last year.

“The Miraval acquisition reflects our commitment to super serving the high-end traveler and finding new ways to understand and care for them,” said Mark Hoplamazian, president and chief executive officer, Hyatt Hotels Corporation. “We know that wellness is an area that is becoming increasingly important to our guests and we share Miraval’s belief that wellness is more than fitness and nutrition – it’s a lifestyle. Adding Miraval to the Hyatt family creates a great opportunity to advance the Miraval brand expansion while building a greater depth of expertise in wellness and mindfulness.”

The acquisition includes an initial investment of $215 million for the Miraval brand and the resorts in Tucson and Austin. Hyatt expects to invest an additional $160 million over the next two to three years to fund the expansion of the Tucson resort, the redevelopment of the Austin resort and the acquisition and redevelopment of the Lenox resort. Hyatt will fund the investment with current operating cash flows and proceeds from the sale of existing assets, consistent with Hyatt’s asset recycling program. The company expects these investments to be marginally accretive to Adjusted EBITDA in 2017 and 2018, achieving a cash-on-cash yield in the high single digits within four to five years.

Miraval will form a distinct new wellness category within the Hyatt portfolio of brands. Steven Rudnitsky, president and chief executive officer of Miraval Group, will continue to drive the brand’s growth strategy, reporting to Mark Hoplamazian and working with the existing Miraval leadership team and associates.

“Importantly, the acquisition also extends the Hyatt brand into adjacent spaces beyond traditional hotel stays, which is core to Hyatt’s global growth strategy,” said Hoplamazian. “We recognize the business opportunity within the $420 billion wellness-tourism category and understand the rising demand for wellness offerings among our targeted high-end travelers.”

Today’s announcement continues Hyatt’s commitment to a holistic health and wellness strategy as an extension of its purpose, to care for people so they can be their best. For example, since 2014, Hyatt chefs around the globe have been championing Food. Thoughtfully Sourced, Carefully Served, a program featuring menus evolved with an eye on sustainable health. This includes options such as grass-fed meats, sustainable seafood and organic fruits and vegetables. Additionally, many Hyatt hotels worldwide are offering more options for travelers to maintain a healthier routine, including healthy refreshments at arrival, curated in-room amenities, increased fitness offerings, expanded menus and nutritious to-go alternatives.

“Our shared purpose makes Hyatt the ideal acquisition partner,” said Rudnitsky. “This transaction will unlock Miraval’s full potential by joining us with one of the foremost global hospitality companies fully committed to wellness. Consistent with Hyatt’s strategy, Miraval offers destinations for guests who take an active role in seeking inspiration and self-improvement for a life in balance.”

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. Hyatt is working to include the referenced properties in its loyalty program, but the properties are not currently participating.

About Hyatt Hotels Corporation‍

Hyatt Hotels Corporation (NYSE: H), headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 679 properties in 54 countries, as of September 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.

About Miraval Group‍

New York-based Miraval Group is a global leader in wellness resorts and spas. Miraval Arizona Resort & Spa in Tucson pioneered the destination wellness spa resort category with its comprehensive program of activities, experiences and personal treatments. In April 2016, Miraval opened the Life in Balance Spa at Monarch Beach Resort in Dana Point, CA.

The company is developing Miraval Life in Balance Spas and Miraval destination wellness resorts concurrently in key national markets and has recently announced plans for new resort developments in Lenox, MA and Austin, TX.

About KSL Capital Partners, LLC‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 billion in equity capital commitments. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Forward-Looking Statements‍

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about Hyatt’s acquisition of Miraval Group, growth strategy, and introduction of new brand concepts and involve known and unknown risks that are difficult to predict. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Hyatt’s, Miraval Group’s or KSL Capital’s control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and no party undertakes any obligation to publicly update any of these forward looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.

Source: Hyatt Hotels Corporation Hyatt
Stephanie Sheppard 312.780.5399
Stephanie.Sheppard@hyatt.com
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or
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Nike Communications Kimberly Hanson 978.821.4886

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PHILADELPHIA--(BUSINESS WIRE)--Apple Leisure Group, a leading hospitality company, today announced that KKR and an affiliate of KSL Capital Partners (KSL) have entered into a definitive agreement to acquire the company from Bain Capital Private Equity. Financial terms of the transaction were not disclosed.

Apple Leisure Group is North America’s top seller of all-inclusive vacation packages, with a vertically integrated business model that leverages its capabilities and expertise to deliver exceptional value to travelers, and distribution reach and resort management expertise for hotel owners. Apple Leisure Group’s collection of leading subsidiaries includes AMResorts (hotel management and marketing services), Amstar (the largest destination management company for Mexico and the Dominican Republic), a portfolio of travel distribution brands (Apple Vacations®, Travel Impressions®, CheapCaribbean.com®), and the exclusive Unlimited Vacation Club travel program.

“We are pleased to be partnering with KKR and KSL for our next phase of growth,” said Alex Zozaya, Chief Executive Officer of Apple Leisure Group. “They share our commitment to the vision of Apple Leisure Group as we continue to deliver great results to travelers, guests and hotel owners. We are extremely appreciative of Bain Capital Private Equity’s partnership and support in executing our growth mission and helping us strengthen our leadership position over the past four years.”

“Apple Leisure Group is a unique franchise with a differentiated market position as well as an impressive management team,” said KKR Members Paul Raether and Tagar Olson. “We are pleased to be partnering with KSL to continue to grow the company and build upon its already premier reputation in the travel industry.”

“Apple Leisure Group has emerged as a truly differentiated market leader, with a strong management team executing a strategic growth plan while continuing to deliver exceptional service and real value to leisure travelers,” said Phil Loughlin a Managing Director at Bain Capital Private Equity. “It has been a privilege to work side-by-side with this talented team as we have invested to build the business for the long-term by creating more effective collaboration among the various companies in the group and integrating several acquisitions which added value to the company’s product offerings,” added Ryan Cotton a Managing Director at Bain Capital Private Equity.

”Nearly 25 years ago, KSL first partnered with KKR to acquire premier hospitality businesses, and we are delighted to once again partner with them to invest in Apple Leisure Group,” said Richard Weissmann, a Partner of KSL. “We have spent several years searching for the right opportunity in the Caribbean, and could not be more pleased to partner with Apple Leisure Group and its talented management team and employees. With a devoted customer base and thousands of loyal members, we believe Apple Leisure Group has tremendous potential for future growth.”

The transaction is expected to close during the first quarter of 2017, and is subject to customary regulatory approvals. KKR’s investment is being made principally from its eleventh Americas Private Equity investment fund.

Credit Suisse and Kirkland & Ellis LLP served as advisors to Bain Capital Private Equity. Simpson Thacher & Bartlett LLP and Dentons served as advisors to KKR and KSL.

About Apple Leisure Group‍

Philadelphia-based Apple Leisure Group® is a leading hospitality company in the North American travel industry. Its vertically integrated business model and robust infrastructure leverages the expertise of six innovative subsidiaries to deliver exceptional value to savvy travelers and strong resort performance to owners. ALG’s award-winning subsidiaries include: AMResorts®, provider of hotel management services under six luxury resort brands; Apple Vacations®, the world’s largest tour operator to Mexico and the Dominican Republic; Travel Impressions®, a prominent U.S. wholesaler possessing an extensive global portfolio; CheapCaribbean.com®, a popular online travel agency specializing in luxury vacation packages and resort accommodations in Mexico and the Caribbean; Amstar DMC, a destination management company offering premium airport transfers, tours and excursions; and Unlimited Vacation Club®, AMResorts’ popular guest loyalty program for discerning travelers who expect the very best in a vacation experience. For more information on Apple Leisure Group®, visit www.appleleisuregroup.com.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co..

About KSL

KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, CO; Stamford, CT; and London. Since 2005, KSL has raised approximately $7.4 billion in equity capital commitments. KSL’s current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com

About Bain Capital Private Equity‍

Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

Contacts

Media :
For Apple Leisure Group:
Stanton Charlyn Lusk, 646-502-3549
clusk@stantonprm.com
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or
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For KKR:
Kristi Huller or Cara Kleiman, 212-230-9722
media@kkr.com
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or
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For KSL Capital Partners:
Julie Messing-Paea, 310-691-9979
julie.messing@mac.com
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or
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For Bain Capital Private Equity:
Stanton Alex Stanton, 212-780-0701
astanton@stantonprm.com

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