KSL Capital Partners Launches Select Service Hotel Platform
Mission Hill Hospitality Builds Growing Portfolio Across US
An affiliate of KSL Capital Partners, LLC (“KSL”), a leading investor in travel and leisure businesses, has launched Mission Hill Hospitality, a portfolio company created to acquire select service and extended stay hotels. To date, Mission Hill Hospitality has acquired 12 hotels.
KSL historically has focused on full-service hotels, particularly in leisure destinations generally supported by a mass affluent consumer. Mission Hill Hospitality represents an opportunity to invest in select service and extended stay hotels, which, according to CoStar data, is the fastest growing segment of the hospitality industry, accounting for approximately one-third of all the transaction volume in hotels in the U.S.
“Mission Hill Hospitality was created as a platform to focus on select service and extended stay properties and development opportunities in markets with strong long-term fundamentals and the potential to add value,” said John Ege, Partner at KSL. “Under the direction of Mission Hill CEO Greg Kennealey, who has played a key role in driving value in KSL’s hotel investments for over a decade, we expect Mission Hill to quickly become an industry leader. We are excited to have Greg at the helm.”
“I am honored for the opportunity to lead Mission Hill Hospitality, and greatly appreciate KSL’s confidence and support. KSL’s long history in hospitality investing provides a solid foundation as we launch the platform and actively grow the portfolio,” said Kennealey. “We are building an experienced, dedicated select service team that can leverage relationships with owners, managers, brands and developers, allowing Mission Hill Hospitality to create the highest quality portfolio of hand-picked assets.”
About Mission Hill Hospitality
Mission Hill Hospitality is a company created to invest in the select service and extended stay hotel sector. The Denver-based firm focuses on value-add and development projects that present significant opportunity given market and economic conditions.
Mission Hill Hospitality brings together a dedicated team of investment professionals with decades of extensive experience in lodging across product types and provides a wide range of expertise across functions including operations, asset management, acquisitions, development, and capital markets. For more information visit http://missionhillhospitality.com.
About KSL Capital Partners, LLC
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company's 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. The Company's common shares are traded on The New York Stock Exchange under the ticker "HT." For more information on the Company, and the Company's hotel portfolio, please visit the Company's website at www.kslcapital.com.