Outrigger Hotels' new owner buys another Hawaii resort

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The Denver company that recently purchased Hawaii-based Outrigger Hotels and Resorts' portfolio of 37 properties has acquired another Hawaii hotel — the 311-room Courtyard Kaua'i at Coconut Beach on the eastside of the Garden Isle.
The sale of the hotel, which was traded for $61.6 million, or $198,070 per room, closed last month. The 169,787-square-foot hotel occupies nearly 11 acres of land along Waipouli Beach, and has a total assessed value of $37.7 million.
The seller — Kauai Coconut Beach LLC — purchased the hotel for $38 million in 2010.
KSL Capital, which focuses on investing in travel and leisure businesses, has raised more than $7.5 billion in private equity and credit funds since 2005. Its investment portfolio includes such businesses as hotels and resorts, clubs, fitness, family entertainment, skiing and resort real estate.

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