KSL Capital Partners Commits $21 Million to Transform W Maldives Resort
Thursday 15th of August 2024
KSL Capital Partners, a leading investor in travel and leisure businesses, has announced a $21 million investment in the W Maldives to fully renovate the resort. This comprehensive renovation aims to upgrade virtually all aspects of the resort. The renovation began earlier this year, and the W Maldives will remain temporarily closed to guests, with plans to reopen in late 2024.
The W Maldives, located on the private island of Fesdu in North Ari Atoll, features 77 overwater or beach bungalows, each with private pools and direct beach or sea access. Guests at the W Maldives can enjoy six restaurants and bars, a world-class spa, and exceptional snorkeling and diving at one of the best house reefs in the Maldives.
In addition to the W Maldives renovation, KSL Capital Partners plans to recommence capital spending at the Sheraton Maldives Full Moon Resort & Spa. Earlier this year, KSL had paused these plans and engaged in discussions with the Government of Maldives regarding the resort's future. Now, KSL has decided to move forward with its phased capital improvement plan to maintain the Sheraton Maldives' reputation as one of the premier family resorts in the Maldives.
The Sheraton Maldives is situated on the private island of Furanafushi, just a short speedboat ride from Velana International Airport. This 176-room resort offers overwater bungalows, ocean view villas, and cottages, many of which feature private plunge pools. The resort also boasts seven restaurants and bars, multiple freshwater pools, a full-service spa, tennis facilities, and the Sheraton Kids’ Club.
“We’re excited to move forward with our plans at the W Maldives and the Sheraton Maldives resorts, two exceptional properties that offer the best of the Maldives to travelers from around the globe,” said Tina Yu, Partner at KSL Capital Partners. “We’re confident that our continued investments will further elevate the unique and unforgettable guest experience these resorts offer, while also creating a positive impact in the local community. As part of KSL’s mission to create enduring value, we remain steadfast in our commitment to the Maldives as one of the world’s premier travel and leisure destinations and will continue to support the country’s economic growth.”
KSL Capital Partners acquired the W Maldives and Sheraton Maldives in June 2022. They are a significant investor in the Maldives, with investments in six major hotels in the country, including Soneva Fushi, Soneva Jani, the recently developed Soneva Secrets, and Outrigger Maafushivaru Resorts.
KSL Capital Partners is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. With offices in Denver, Stamford, New York, and London, KSL invests across three primary strategies through its equity, credit, and tactical opportunities funds. Their current portfolio includes some of the premier properties in travel and leisure, underscoring their commitment to creating enduring value and supporting economic growth in their investment locations.