KSL
Private equityDenver · 13 people tracked
Investment thesis
KSL Capital Partners invests exclusively in the Travel & Leisure sector, drawing on a 30-year track record to identify and execute investments. The firm applies an operator-first mindset, hands-on operating experience, and a commitment to responsible stewardship, partnering with strong management teams to pursue exceptional outcomes. Having invested in over 190 businesses globally since its founding, KSL currently deploys capital through multiple vehicles including KSL Capital Partners VI, KSL Tactical Opportunities II, and KSL Credit Fund IV, spanning both equity and credit strategies across travel and leisure businesses worldwide.
Source: firm website, verified Aug 25, 2026.
Team · 13 people
from the firm's website
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What they invest in
from 52 of 106 portfolio companiesTravel & Hospitality ×41Consumer ×27Wellness & Fitness ×12Sports Tech ×9PropTech ×6Mobility & Transportation ×2Construction Tech ×1Direct to Consumer ×1
HQs:United States×24United Kingdom×4Canada×1
Investments · 106 tracked
founders shown can be your intro path21c Museum Hotels operates boutique hotels that combine locally rooted hotels and restaurants with free, curated contemporary art museums.
ConsumerTravel & Hospitality
All In Snowmass promotes the Snowmass Base Village development, offering luxury ski-in/ski-out residential collections along with dining, shopping, and family activities at the base of Snowmass Resort.
PropTechTravel & HospitalitySnowmass Village, US
Alterra Mountain Company operates a collection of mountain resort destinations (19 owned, spanning 40k+ vertical feet and 30k+ skiable acres) and runs the Ikon Pass covering 60+ destinations.
ConsumerSports TechTravel & Hospitality
Atlantic Aviation operates a network of over 105 fixed-base operations across North America, providing ground services, amenities, and support for business and private aviation travelers.
Mobility & Transportation
Bicycle Street Inn is a hotel in downtown Mackinac Island, Michigan, offering 84 guestrooms and suites for couples, families, and friends.
Travel & HospitalityMackinac Island, US
Camelback Resort is a year-round mountain resort in the Pocono Mountains offering skiing, snow tubing, an indoor waterpark (Aquatopia), the Camelbeach outdoor waterpark, a mountain coaster, ziplines, treetop courses, and lodging.
ConsumerTravel & Hospitality
Cameron House is a five-star resort on the shores of Loch Lomond in Scotland's Loch Lomond & The Trossachs National Park, offering rooms, suites, apartments, cottages and lodges.
ConsumerTravel & Hospitality
Davenport Hotel Collection operates a group of five distinct luxury hotels in Spokane, Washington, offering accommodations, dining, spa, and event amenities.
ConsumerTravel & HospitalitySpokane, US
Davidson is a hospitality management company that provides acquisitions, business development, marketing, and operations services for hotel and resort ownership partners.
Travel & Hospitality
Co-investorsNautic Partners
Co-investorsRoarkStride Consumer Partners
ESPA is a skincare and body care brand selling products such as cleansing oils, body serums, hand creams, and self-tan creams directly to consumers.
ConsumerDirect to ConsumerWellness & Fitness
East West Partners develops and improves residential communities and workplaces, focusing on real estate development that creates places for people to live, work, and vacation.
Construction TechPropTech
Lindblad Expeditions organizes guided expedition travel to remote destinations such as Antarctica, offering multi-day small-group voyages for adventure travelers.
Travel & Hospitality
Sven Lindblad(Founder)
Fairmont is a luxury hotel and resort brand operating properties across multiple regions worldwide, offering hospitality and accommodation services.
Travel & Hospitality
Fairmont Grand Del Mar is a luxury resort set on 400 acres near Los Peñasquitos Canyon Preserve in San Diego, offering guestrooms, villas, dining, a spa, golf, and equestrian and outdoor activities.
Travel & HospitalityWellness & FitnessSan Diego, US
Grand Hotel offers hotel accommodations and dining packages, including a flexible rate option bundled with a Modified American Meal Plan that includes daily breakfast and dinner at its dining venues.
Travel & Hospitality
Hai Hospitality is a restaurant group founded by Chef Tyson Cole, operating Japanese-inspired restaurants such as Uchi that reinterpret traditional Japanese cuisine.
ConsumerFoodTechAustin, US
Tyson Cole(Chef & Founder)
Heritage Golf Group owns and operates private golf and country clubs across the United States, offering members access to golf courses along with sports and wellness amenities such as tennis, pickleball, fitness centers, and aquatic complexes.
ConsumerSports TechWellness & Fitness
Hersha Hotels and Resorts owns and operates luxury and lifestyle hotels in urban gateway and regional resort markets, with a portfolio of 18 hotels totaling 3,376 rooms.
PropTechTravel & Hospitality
Co-investorsProspect Hill Growth Partners
Hotel Viking is a hotel in Newport, Rhode Island offering accommodations and curated local experiences such as sailing excursions, fishing charters, mansion tours, and Cliff Walk visits.
Travel & HospitalityNewport, US
Co-investorsAju IB Invesment CorporationQuest Ventures
InterContinental Buckhead Atlanta is a hotel offering accommodations along with meeting, event, and wedding services.
Travel & HospitalityAtlanta, US
Invited Clubs operates private clubs and, through the Invited Clubs Foundation, runs community programs for its members and employees, including scholarships, blood drives, veteran initiatives, local fundraisers, and its Crush It!
ConsumerSports Tech
Islamorada Resort Collection is a group of three resorts in Islamorada in the Florida Keys, offering guests access across all properties including five beaches, five pools, and twelve dining venues.
Travel & HospitalityIslamorada, US
Life Time operates health and fitness clubs offering memberships with amenities such as pools, racquet courts, exercise programs, and wellness services.
ConsumerSports TechWellness & Fitness
Co-investorsLeonard GreenLnk
Malmaison operates a chain of boutique hotels across the UK, offering luxury rooms, dining at its Chez Mal Brasserie & Bar, spas, gyms, and event and wedding facilities.
ConsumerTravel & Hospitality
Marram is a 96-room boutique oceanfront resort hotel in Montauk, offering guest rooms, a pool deck, event spaces, and a seasonal on-site café serving Latin American cuisine.
ConsumerTravel & HospitalityMontauk, US
Martin Resorts operates and manages a portfolio of destination resorts, hotels, and clubs, ranging from select-service properties to beachside and mountain vacation destinations.
Travel & Hospitality
Miraval Resorts & Spas operates wellness resorts and spas offering guests experiences focused on balance, mindfulness, and wellbeing, including spa treatments, fitness and yoga classes, curated meals, and outdoor activities.
Travel & HospitalityWellness & Fitness
Mission Hill manages a global portfolio of destination resorts, hotels, clubs, and select-service properties.
ConsumerTravel & Hospitality
The Residences at The Nashville EDITION is a collection of luxury branded residences with resort-style amenities, located in The Gulch neighborhood of Nashville.
ConsumerPropTechNashville, US
The Ritz-Carlton is a luxury hospitality brand operating hotels, resorts, private residences, and a yacht collection, including its Ritz-Carlton Reserve properties in secluded destinations worldwide.
Travel & Hospitality
Rosewood Hotels operates a collection of luxury hotels and resorts across international destinations including Mexico, Japan, Qatar, Brazil, the US, Hong Kong, the UK, and the Netherlands.
ConsumerTravel & Hospitality
Royal Palm South Beach is a hotel in Miami Beach offering guest rooms, a redesigned pool and bar, and poolside dining.
ConsumerTravel & HospitalityMiami Beach, US
Salamander Collection operates a group of luxury hotels, resorts, and spas offering hospitality management, executive retreats, and residences.
ConsumerTravel & HospitalityWellness & FitnessMiddleburg, US
Sheila C. Johnson
Sereno Hotels operates a collection of luxury hotels and villas, including Le Sereno in St.
ConsumerTravel & Hospitality
Silverado Resort is a Napa Valley resort offering lodging, championship golf, dining, spa and wellness experiences, plus venues for weddings, meetings, and corporate events.
Sports TechTravel & HospitalityWellness & FitnessNapa, US
Sofitel Washington DC Lafayette Square is a luxury hotel located near Lafayette Square and the White House in downtown Washington, D.C., offering accommodations, dining, and meeting and event spaces.
Travel & HospitalityWashington, US
Southern Marinas operates and manages a portfolio of marina properties, handling accounting, marketing, and business development across its locations.
PropTechTravel & Hospitality
The Belfry is a golf and spa resort offering hotel stays, golf holidays, and spa breaks and packages for leisure guests.
Travel & HospitalityWellness & Fitness
The Fifth Avenue Hotel is a luxury hotel set in a restored Gilded Age landmark in the NoMad neighborhood of Midtown Manhattan, New York City.
ConsumerTravel & HospitalityNew York, US
The Newbury Boston is a restored luxury hotel located at the corner of Newbury and Arlington Streets in Boston's Back Bay, near the Boston Public Garden.
Travel & HospitalityBoston, US
Hotel group operating more than 315 hotels across over 137 destinations, offering city-break stays, resorts, and unique heritage hotels in European cities such as Berlin, Amsterdam, and London.
ConsumerTravel & Hospitality
Third Space operates a group of luxury health clubs in London, offering fitness classes led by instructors and gym facilities for members.
ConsumerSports TechWellness & FitnessLondon, GB
Tortuga Resorts is an ownership and asset management platform for luxury beachfront resorts across Mexico and the Caribbean, partnering with global hospitality brands to operate its portfolio.
PropTechTravel & Hospitality
Under Canvas operates upscale, safari-inspired glamping resorts featuring custom-designed canvas tents with amenities such as ensuite bathrooms, king-size beds, and wood-burning stoves.
ConsumerTravel & HospitalityBelgrade, US
JACOB DUSEK(Executive Officer, Director, Promoter)SARAH DUSEK(Executive Officer, Director, Promoter)
Village Hotels operates a chain of 34 hotels across the UK offering accommodation alongside food and drink venues, gyms and pools, shared workspaces, and meeting and event facilities.
Travel & HospitalityWellness & Fitness
WellBiz Brands is a franchisor operating a portfolio of five wellness, beauty, fitness, and therapeutic brands—including Radiant Waxing, Elements Massage, and Drybar—and offers franchise opportunities ranging from single-unit ownership to multi-brand expansion.
ConsumerWellness & FitnessDenver, US
Whistler Blackcomb is a ski and mountain resort in Whistler, British Columbia, offering winter skiing and snowboarding across 200+ trails, glaciers, and alpine bowls, along with summer hiking, biking, and sightseeing activities.
ConsumerSports TechTravel & HospitalityWhistler, CA
Fund performance · per public LP disclosures · 14
as of Mar 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| KSL Capital Partners CV II 3, LPLPs: Empire State Development – New York Ventures | 2023 | — | — | 1.06x | 0.00x |
| KSL Capital Partners Fund VILPs: Tulare County Employees' Retirement Association | 2023 | — | -6.5% | 0.78x | 0.00x |
| KSL Capital Partners Credit Opportunities Fund IV, LPLPs: Empire State Development – New York Ventures | 2022 | — | — | 1.03x | 0.17x |
| KSL Capital Partners VILPs: Empire State Development – New York Ventures, Contra Costa County Employees' Retirement Association, Kern County Employees' Retirement Association +3 more | 2022 | — | -6.5% | 0.68x | — |
| KSL Capital Partners Credit Opportunities Fund III, LPLPs: Empire State Development – New York Ventures | 2021 | — | — | 1.23x | 0.41x |
| KSL Capital Partners Tactical Opportunities Fund II, L.P. Executed October 2024LPs: Empire State Development – New York Ventures, New Jersey Division of Investment | 2021 | — | — | 1.38x | 0.27x |
| KSL Captal Partners Coto Co-Invest I, LPLPs: Empire State Development – New York Ventures | 2021 | — | — | 1.10x | 0.02x |
| KSL Capital Partners V, L.P.LPs: Empire State Development – New York Ventures, Washington State Investment Board, Oregon Public Employees Retirement System +3 more | 2019 | — | 12.1% | 1.30x | 0.54x |
| KSL Capital Partners IV, L.P.LPs: Washington State Investment Board, Empire State Development – New York Ventures, Oregon Public Employees Retirement System +2 more | 2016 | — | 12.3% | 1.60x | 0.81x |
| KSL Capital Partners Credit Opportunities FundLPs: Oregon Public Employees Retirement System | 2014 | — | 14.4% | 1.38x | 1.38x |
| KSL Capital Partners III, L.P.LPs: Washington State Investment Board, Empire State Development – New York Ventures, Oregon Public Employees Retirement System +2 more | 2011 | — | 7.6% | 1.20x | 1.16x |
| KSL Capital Partners Supplemental IILPs: Oregon Public Employees Retirement System, Washington State Investment Board | 2009 | — | 24.8% | 2.16x | 2.17x |
| KSL Capital Partners Supplemental II TE, L.P.LPs: Washington State Investment Board | 2009 | — | 24.8% | 2.20x | 2.16x |
| KSL Capital Partners II, L.P.LPs: Oregon Public Employees Retirement System, Washington State Investment Board, Annie E. Casey Foundation | 2006 | — | 15.3% | 1.87x | 1.87x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has KSL made?
- KSL has 106 tracked investments.
- What sectors does KSL focus on?
- KSL focuses on Travel & Hospitality.
- Where is KSL located?
- KSL is headquartered in Denver, US.
- Who does KSL co-invest with?
- KSL most often shares deals with Aju IB Invesment Corporation, Lam Group, Leonard Green, among 9 tracked co-investors.
Media · Podcasts & interviews
featuring the teamEric Resnick – Ski, Golf, and Vacation Investing at KSL (Capital Allocators, EP.322) - YouTube
Capital Allocators with Ted Seides · Eric Resnick
Images
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