UPDATE JUNE 11, 11 a.m.: Sources say that KSL Capital Partners has sold the Grove Park Inn, and that the transition should be a smooth one.
UPDATE TUESDAY, JUNE 11, 10 a.m.: Here’s what I’m hearing – KSL Capital Partners plans to sell several of its hotel properties, including the Grove Park Inn. The deal will close July 1. I have calls out, but this report remains unconfirmed. KSL owns upscale resort properties including Hotel del Coronado, La Costa Resort and Spa, and Rancho Las Palmas Resort & Spa.
The deal raises many questions for the Grove Park Inn. Will the sale affect a big centennial anniversary bash set for next month? Will employees have to reapply for their jobs, just as they did when KSL bought the inn in 2012?
MONDAY, JUNE 10: Rumors are flying that the Grove Park Inn is being sold again. I’ve heard that Omni Hotels is buying the historic inn.
This startling news comes just more than a year after KSL Capital Partners bought the Grove Park Inn from longtime owners Sammons Enterprises. KSL announced that it was spending $25 million on much needed renovations to the inn’s great hall, outdoor terraces and more than 200 guest rooms.
The inn is also preparing to celebrate its 100th birthday. There’s a big July Fourth weekend bash planned, with blues legend B.B. King slated to play a special concert.
More as I get it.
[…] It certainly wouldn’t be a surprise to see to Earth Fare change hands again. This is what private equity firms do, just as we saw last week with the sale of the Grove Park Inn. […]
Does this mean I am going to be tested for weed again…..
You probably should be.
Folks don’t understand that it is a business, and that their clients don’t want to rub shoulders with a bunch of freeloaders loitering in the lobby regardless. It’s a real issue when you pay that much to stay there and you can’t find a seat in the lobby because a bunch of locals have squatted. I don’t see a bunch of locals hanging out at the Motel 6, or the Hilton. But if it is so important to show your guest from out of town the Grove Park, the it is worth paying to park. Stop your crying.
I am one of those loitering locals. Since I have been living here I have brought 8 out-of-town guests on 5 different occasions to dine on the Sunset Terrace. I don’t believe I have ever come to the Grove Park when I didn’t spend money. I have recommended it to people as an interesting place to stay. Maybe you don’t understand that a smart businessperson realizes everyone is a potential customer and treats them as such.
This sale is a done deal. Took place yesterday. From what I understand, this will be a painless transition with no personnel turnover. Everyone will have to fill out a new application but only for the records.
I think this is a good thing. I hope for us locals and for the employees that Omni will take the grand resort back to the roots of customer service.
Not sure when the announcement will be made but it should be soon.
I always felt sketchy about a venture capital firm going into the hotel business. There job is to loot as much money as possible for investors quickly.
They are not about steady slow return on investment. It makes sense for somebody in the hotel business already to run the place.
KSL Capital Partners owns KSL Resorts and both have a long history in owning and managing hotels and resorts.
KSL is in capital equity. That means paying high interest to use somebody else’s money. Since KSL would have a hard time running a dog kennel much less the few resorts they own it’s no wonder they are selling them all.
any body would be better than the hacks who hold interest now, their one big deal is getting the fire places working again….great job fellas. oh and making enemies with any and all locals, good riddance
But will everyone have to re-apply for their jobs again?….