This post was originally published on www.whatsupnewport.com.
Since rumors of the sale of Hotel Viking begin to circulate in April, details of the (now confirmed) sale of the iconic hotel continue to unfold.
Davidson Hotels & Resorts has announced that they have welcomed the addition of Hotel Viking into its portfolio, under its luxury and lifestyle division, Pivot Hotels & Resorts. Davidson’s transition follows the acquisition of the property by an affiliate of KSL Capital Partners, LLC earlier this month.
“We are elated to add yet another historic landmark to the Pivot portfolio,” said Albert Smith, senior vice president of Pivot, in a prepared statement. “We look forward to incorporating the Hotel Viking’s historic charm into our luxury division.”
KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; and London. Since 2005, KSL has raised approximately $7.5 billion in equity capital commitments. KSL’s current portfolio includes some of the premier properties in travel and leisure, according to their website.
Terms of the sale of the property have not been disclosed at this time.
LaSalle Hotel Properties announced back in September of 2014 that it has entered into a definitive contract to sell Hotel Viking to Loan Star Global for $77 million. The Company acquired the hotel in June 1999 for $27 million.
Davidson Hotels & Resorts is an award-winning, full-service hotel management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. Davidson, along with its lifestyle and luxury operating division, Pivot Hotels & Resorts, specializes in independent and branded assets in the upper-upscale to luxury segments including 42 hotels, nearly 13,000 rooms and 1.4 million square feet of meeting space across the United States. Pivot Hotels & Resorts currently operates eight hotels and resorts across the US with two more in development in Chicago and Nashville.
Davidson Hotels & Resorts recently managed the Hyatt Regency on Goat Island, before it was purchased by and turned into Gurney’s Resort & Marina.
Hotel Viking opened in May of 1926, the hotel underwent an extensive multi-million dollar renovation in early 2016.
A request for comment from KSL has not been responded to.