KSL Capital Buys La Costa Resort

KSL Capital Partners has acquired Carlsbad, Calif.-based La Costa Resort and Spa. No financial terms were disclosed.


KSL Capital Partners (www.kslcapital.com) has announced that it has acquired La Costa Resort and Spa, located in Carlsbad, California, from an investment group that had purchased the property in early 2007. This transaction provides control over La Costa to the same group of individuals who were instrumental in transforming the resort nearly a decade ago. The new owners once again have plans to make substantial improvements to the property, including additional upgrades to the guest rooms, spa, restaurants, pools, meeting space and golf courses.
KSL Resorts (www.kslresorts.com), one of the country’s leading independent management companies, will continue to operate the resort. Based in La Quinta, California, KSL Resorts has managed the resort since 2001, overseeing the investment of nearly $200 million in capital improvements to La Costa.
Commenting on the transaction, Bernie Siegel, Principal of KSL Capital Partners, said: “La Costa is one of the preeminent destinations in the country. The time to once again invest in La Costa was right, and we look forward to investing further in La Costa’s already outstanding facilities.”
Scott Dalecio, President of KSL Resorts, added: “The members, guests, and staff of La Costa will continue to enjoy the stability of our management team. Our upcoming resort improvements will ensure that La Costa remains the destination of choice for both leisure and group customers for years to come. We are very excited about La Costa’s future.”
La Costa has enjoyed a long and illustrious history. In addition to 474 resort guestrooms and suites and 136 deluxe one, two and three-bedroom villas, La Costa boasts a world renowned spa, two championship golf courses and a world class tennis facility. Later this month, La Costa will host an LPGA tournament, the KIA Classic, and in August, La Costa will host a Sony Ericsson WTA Tour tennis tournament, the Southern California Open, in August. These events mark the return of major professional women’s golf and tennis tournaments to the San Diego area.
About La Costa Resort and Spa
Nestled among the beautiful coastal foothills of Carlsbad, California, north of San Diego, La Costa Resort and Spa boasts the 43,000 square-foot Spa at La Costa, 474 spacious and well-appointed guestrooms and suites, 136 deluxe one, two and three-bedroom villas, a Clubhouse with a fitness center, two acclaimed restaurants — Legends and BlueFire Grill, two championship golf courses, a world class tennis facility, over 50,000 square feet of indoor meeting space and over 50,000 square feet of outdoor function space.
About KSL Capital Partners
KSL Capital Partners is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL Capital Partners has offices in Denver, Colorado and New York.
Notable investments made by the principals of KSL include:
ClubCorp, Inc. (Dallas, Texas)
Western Athletic Clubs (San Francisco, California)
Orion Expedition Cruises (Sydney, Australia)
Vail, Beaver Creek, Breckenridge and Keystone Mountain Resorts (Colorado)
La Quinta Resort & Club and PGA West (La Quinta, California)
Doral Golf Resort & Spa (Miami, Florida)
Grand Wailea Resort Hotel & Spa (Maui, Hawaii)
Arizona Biltmore Resort & Spa (Phoenix, Arizona)
La Costa Resort and Spa (Carlsbad, California)
Hotel del Coronado (San Diego, California)
Rancho Las Palmas Resort & Spa (Rancho Mirage, California)
For more information, visit www.kslcapital.com.
About KSL Resorts
Founded in 1992, KSL Resorts manages seven time-honored resorts with outstanding recreational amenities, including spa, golf, tennis and ski. Each is refined yet unpretentious, rich in legacy and genuine in service. The KSL Resorts are:
Hotel del Coronado (San Diego, California)
Beach Village at The Del (San Diego, California)
La Costa Resort and Spa (Carlsbad, California)
Rancho Las Palmas Resort & Spa (Rancho Mirage, California)
Vail Mountain Lodge & Spa (Vail, Colorado.)
Barton Creek Resort & Spa (Austin, Texas)
The Homestead (Hot Springs, Virginia)