April 18, 2018
KSL Capital Partners And Davidson Hotels & Resorts Announce Acquisition Of Margaritaville Hollywood Beach Resort
DENVER, April 18, 2018 /PRNewswire/ -- KSL Capital Partners, LLC (KSL), a private equity firm specializing in travel and leisure investments, is pleased to announce that an affiliate of KSL has acquired the Margaritaville Hollywood Beach Resort, the oceanfront resort and entertainment destination located on the Hollywood Beach Broadwalk in Hollywood, Florida. The 349 guest room and suite flagship property for the Margaritaville brand offers an abundance of live entertainment in an oceanfront setting and features eight diverse restaurant and bar concepts, a full-service spa and three pools providing the ideal venue for guests to kick back and enjoy the unmistakable Jimmy Buffett state of mind that embodies Margaritaville. Davidson Hotels & Resorts has worked side-by-side with KSL through the acquisition process and has been named manager of the resort.
"We have confidence that Davidson's team culture, brand knowledge and unmatched support services are the key ingredients to driving investment value and improving operational performance," said Bernard Siegel, a partner at KSL. "Further, we are thrilled to be in business with Margaritaville, a true lifestyle hospitality brand, delivering an authentic and unique resort experience.
"The Margaritaville Hollywood Beach Resort is a tremendous opportunity to continue leveraging our expertise in brand building and resort operations," said Davidson's chief executive officer John Belden. "This will be our 4th destination resort in Florida, joining the iconic Don CeSar and Beach House Suites by The Don CeSar in St. Pete Beach and the naturally luxurious Baker's Cay Resort in Key Largo, set to open later this year."
With its proximity to international airports and one of the largest cruise ports in the world, and located between Miamiand Fort Lauderdale, Margaritaville Hollywood Beach Resort perfectly captures the charm and quaintness of Hollywood Beach. Influenced by the colors of the sea, sand and sky, all of the resort's guest rooms and suites blend coastal casual design and luxurious comfort and open to a private balcony overlooking waterfront views. Whether seeking relaxation by the pool, adventures in the ocean, exceptional dining or the perfect meeting or catered event, this paradise has something for everyone, with eight venues including Jimmy Buffett's Margaritaville, LandShark Bar & Grill and the Five o' Clock Somewhere Bar & Grill, each providing guests with the "license to chill" unlike any other place in the world.
"We are excited to welcome both a best-in class sponsor like KSL and a proven operator like Davidson Hotels & Resorts to our flagship resort," said John Cohlan, chief executive officer of Margaritaville. "Together we look forward to continue to provide a unique vacation 'state of mind' experience for all our guests."
About Margaritaville Hollywood Beach Resort
The AAA Four Diamond-rated Margaritaville Hollywood Beach Resort is a 17-story, 349-room destination resort and entertainment complex offering an authentic, "no worries" tropical vibe inspired by the lyrics and lifestyle of singer, songwriter and best-selling author Jimmy Buffett. Designed to offer an extensive array of amenities combined with a high degree of hospitality, service and attention to detail, this oceanfront resort is located just minutes from the Fort Lauderdale-Hollywood International Airport and Port Everglades on the famed Broadwalk in Hollywood, Florida. The perfect setting for guests to escape the everyday and just chill, the resort features multiple diverse restaurant concepts, a full-service spa with eleven treatment rooms, a state-of-the-art oceanfront fitness center, an array of shopping outlets, 30,000 square-feet of flexible function space, an extensive on-site water recreation area with multiple pools, FlowRider® Double and three live entertainment venues. Margaritaville Hollywood Beach Resort is a part of Margaritaville's growing collection of hotels and resorts. Today, the global lifestyle brand features 11 lodging locations across the Southeast United States and Caribbean with more than 30 additional locations in the pipeline.
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 near-luxury segments including 45 hotels, over 13,000 rooms and over 1.5 million square feet of meeting space across the United States. A trusted partner and preferred operator of Marriott, Hilton and Hyatt, Davidson delivers hospitality and creates value for owners with every single hotel. More information can be found at www.davidsonhotels.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 $8.4 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.