KSL Capital Partners sold management company Davidson Hospitality Group to private equity firm Nautic Partners after nearly a decade of ownership.
No sale price was disclosed.
An affiliate of KSL first acquired the third-party management company in 2015. Today, Davidson manages a portfolio of 86 hotels and resorts and more than 200 food-and-beverage outlets across the U.S.
Davidson is led by CEO and president Thom Geshay, and celebrates its 50th anniversary this year. The company manages primarily full-service and lifestyle hotels and resorts across Marriott International, Hilton and Hyatt Hotels Corp. brands, as well as independent and boutique hotels in its Pivot portfolio.
Nautic recently raised $4.5 billion in its eleventh fund, and the company focuses on healthcare, industrial and service investments.
According to the news release detailing the deal, "Nautic's investment in Davidson Hospitality Group represents a strategic expansion into the hospitality sector. The investment builds upon Nautic's previous sector experience in third-party property management, facilities management and corporate lodging services."
Davidson manages several KSL-owned hotels and resorts, including the Grand Hotel on Mackinac Island in Michigan, Hotel Viking in Newport, Rhode Island, and others. That relationship will continue.
"Through management of a number of our existing assets, Davidson remains an important management partner to KSL. We look forward to continuing to work with Davidson on both our existing portfolio and on future projects," said KSL partner John Ege in a statement.
Earlier this year, KSL closed a $2 billion private equity fund. In 2023, it acquired hotel owner Hersha Hospitality Trust for $1.4 billion, a majority stake in Italy's Sereno Hotels and the five-hotel independent portfolio of Martin Resorts Collection.
