Promising Returns Lure Back U.S. Hotel Buyers | wsj.com
The rebound of U.S. hotels and resorts is drawing in buyers who stepped back from the industry prior to the recession, as the hospitality sector once again promises high returns. Among those now marshalling billions of dollars to acquire hotels is KSL Capital Partners LLC, the former hospitality investing arm of KKR Financial Holdings LLC led by Vail Resorts Inc. veterans. KSL is expected to disclose Wednesday that it has finished raising a $2.1 billion fund targeting distressed resorts. The fund already has purchased two properties.
