Previously owned by Sammons Enterprises, the historic North Carolina resort will undergo a $25 million renovation under its new ownership.
KSL Capital Partners, whose properties include California’s La Costa Resort and Spa and the Squaw Valley ski resort, reached an agreement to buy North Carolina’s century-old Grove Park Inn Resort & Spa, Asheville, N.C., from Sammons Enterprises. The price was not disclosed.
As part of the resort’s Centennial celebration in 2013, KSL is planning an extensive $25 million renovation of the resort’s public areas, guest rooms, dining outlets, meeting spaces and spa.
Grove Park Inn Resort & Spa includes an 18-hole golf course as well as a 50,000-square-foot sports facility and 55,000 square feet of meetings space. The property is listed on the National Register of Historic Places.
Sammons has owned and operated the resort for nearly 60 years. Following the acquisition, The Grove Park Inn will continue to operate as an independent luxury resort and will be managed by KSL Resorts. KSL Capital Partners and KSL Resorts have extensive experience in owning and operating historic properties such as The Grove Park Inn.
“The Grove Park Inn has a deep and storied past and we understand the importance of honoring the history of the property while providing the next level of service and amenities that today’s guests demand,” says Marty Newburger, a principal of KSL Capital Partners. “We believe the experience KSL Resorts has in managing properties like The Grove Park Inn partnered with our planned capital improvement program will bring a further level of luxury, service and amenities for our guests and the community to enjoy.”
Denver-based KSL acquired Squaw Valley in northern California in 2010 and also owns part of San Diego’s iconic Hotel del Coronado.