December 21, 2018
Under Canvas Enters Next Phase of Growth with Investment by KSL Capital
DENVER, Colo. – Dec. 21, 2018 —Under Canvas®, the industry leader and rapidly growing adventure-hospitality company, today announced that an affiliate of KSL Capital Partners, LLC (KSL) has made a substantial investment in the company. Financial terms of the transaction were not disclosed.
Under Canvas is the leading owner and operator of luxurious camping or “glamping” accommodations near America’s most popular national parks. The company was founded by Sarah and Jacob Dusek in 2009 with the opening of a location in West Yellowstone, Montana, and has grown to include eight luxury glamping resorts. Under Canvas locations feature safari-inspired tents with amenities such as daily housekeeping and fresh towels, plush king-size beds, luxurious linens, en suite bathrooms and even a wood-burning stove for chilly nights. Kids and adults alike delight over evening s’mores around the communal campfire as they share their stories of their day’s adventure. Guests wake to sounds of nature, perfectly positioned to explore America’s most iconic national parks and monuments.
“We are very pleased to be partnering with KSL for our next phase of growth, and excited about the additional experiences and adventures that we will be able to bring our guests” said Sarah Dusek, Chief Executive Officer and Co-Founder of Under Canvas. “They share our passion for the outdoors, commitment to environmental stewardship and focus on continuing to grow Under Canvas as a world-class brand. Together we will take Under Canvas to the next level with additional iconic locations and incredible adventures.”
“Under Canvas has done an amazing job of creating truly memorable experiences - connecting guests with nature while they enjoy high quality, exceptional accommodations in beautiful locations,” said John Ege, a Partner at KSL. “We look forward to working with Sarah and Jacob Dusek and the rest of the Under Canvas team and support their vision to define a new category of hospitality.”
Glamping is a term used to define the experience of ‘glamorous camping.’ To Under Canvas, glamping means camping in style, or luxury camping, without any of the hassle or hard work of the conventional kind. A combination of the luxuries of home with the beauty and extraordinary elements of nature to extend guests a once-in-a-lifetime experience, Outside Together. Under Canvas creates a bridge to the outdoors for people who, quite frankly, may not want to rough it. Glamping the Under Canvas way means a consistently incredible outdoor, overnight experience that is impactful, comfortable and incredibly memorable.
Leaders in Environmental Stewardship
Under Canvas is committed to the acceleration of the advent of sustainable travel and to holding the hospitality industry to a higher standard. By staying at Under Canvas, guests join a community that is focused on preserving our incredible planet for enjoyment by future generations.
- The company boasts a minimal disturbance approach to development, believes that nature is the best architect and strives to leave the land as untouched as possible. A minimal footprint is what Under Canvas is all about.
- Under Canvas camps use approximately 87 percent less water than a similar-sized hotel thanks to low-flow toilets, faucets that automatically shut off, and showers that activate only when guests pull a chain. Guests also help by hanging up towels to use again instead of having them replaced daily.
- The limited amount of energy used at Under Canvas camps is generated by alternative means wherever possible. The Moab and Zion camp locations can run 100 percent on solar power, and the Yellowstone and Glacier camps use solar to mitigate our electricity needs.
- By 2020, Under Canvas aims to join other leaders in the journey to be a zero waste company. This effort includes eliminating plastics, converting plates and flatware to compostable options (REPURPOSE), and extensive recycling
About Under Canvas
Under Canvas, the fast growing adventure-hospitality and event company, offers luxurious glamping accommodations just minutes from America’s most popular national parks. Inspired by the African safari experience, the founders set out to create an immersive outdoor escape that serves as a unique bridge between travel and nature while offering all the comforts of a hotel. Recognized as the “perfect glamping experience” by Vogue, Under Canvas operates locations in Yellowstone and Glacier in Montana; Moab and Zion in Utah; Mount Rushmore in South Dakota; Great Smoky Mountains in Tennessee and Grand Canyon and Tucson, Arizona. For more information, visit www.undercanvas.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 $11 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.
Under Canvas: May Lilley
KSL Capital Partners: Julie Messing-Paea
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