US-based private equity firm KSL Capital Partners has acquired Outrigger Hotels & Resorts, which operates or has under development 37 properties in Hawaii, Guam, Fiji, Thailand, Mauritius and the Maldives.

The family-run Outrigger was founded by Roy and Estelle Kelley in 1947.

“Our family is humbled to have had the privilege of leading this company for nearly 70 years, and to have worked with some of the best in the industry,” said Dr Charles Kelley, board chair of Outrigger Enterprises Group. “We have a responsibility to make strategic decisions today that put our company on the best path for future success. We are confident that KSL will make Outrigger more resilient in today’s global hospitality market.”

Upon closure of the transaction, which is subject to shareholder approval, Outrigger’s current management team will continue to lead the company, and the company’s headquarters will remain in Honolulu, Hawaii.

KSL Capital Partners also owns destination spa Miraval, as well as skincare brand ESPA and The Grove Park Inn & Spa in Asheville, North Carolina.