News

Mission Hill Hospitality Builds Growing Portfolio Across US

DENVER, CO – August 5, 2021:  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

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised approximately $15 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Media Contact:
Maureen Richardson, River Communications
mrichardson@riverinc.com
Mobile: + 1 914-434-6033
Office: + 1 914-686-5599

Amara Cay Resort, La Siesta Resort & Marina, Pelican Cove Resort & Marina and Postcard Inn Beach Resort & Marina under new ownership and management

ATLANTA (July 8, 2021) – Leading hospitality management company, Davidson Hospitality Group, has been tapped by an affiliate of KSL Capital Partners, LLC to manage four distinctive beachfront hotels in Islamorada, Florida: Amara Cay Resort, La Siesta Resort & Marina, Pelican Cove Resort & Marina and Postcard Inn Beach Resort & Marina. As part of the transition, there are plans for extensive renovations and impactful enhancements to the guest experience. The boutique hotels will be operated by Pivot, the lifestyle operating vertical of Davidson Hospitality Group.

“KSL has long pursued growth opportunities in the Florida Keys and we are thrilled to be joining the incredible Islamorada community with our long-time partners at Davidson Hospitality Group,” stated John Ege, Partner, KSL Capital Partners.  “We look forward to embarking on the journey to significantly invest in these resorts. KSL backs best-in-class management teams, and Pivot, Davidson’s lifestyle platform, is a perfect fit to drive operational excellence and enhance these properties.”

“We are excited to expand our footprint even further in the booming Sunshine State, bringing our statewide property count to ten, nine of which are iconic resort or waterfront boutique assets,” said Davidson Hospitality Group President Thom Geshay. “KSL has an exceptional heritage acquiring and elevating iconic, destination assets and, in conjunction with Davidson’s in-house design and construction team, will create a new level of quality in these irreplaceable properties, thereby tapping into the unique and eclectic elements that make The Keys one of the most desirable and highest demand markets in the nation.”

Set in the Florida Keys, halfway between Key West and Miami, Islamorada is known as the Sport Fishing Capital of the World. Its calm, clear waters, colorful coral reefs, variety of shops and restaurants, and endless potential for outdoor fun make the village of Islamorada an ideal destination for families and adventure-seekers alike. Once home to Cuchiyada Indians and said to be the oldest inhabited place in all of the Keys, the village was named by Spanish explorers in the early 16th century. Legend has it that they were so taken with the shades of purple in the sunset that they called it “islas moradas” (purple isles).

Amara Cay Resort, La Siesta Resort & Marina, Pelican Cove Resort & Marina and Postcard Inn Beach Resort & Marina are collectively comprised of 379 rooms; more than 5,200 square feet of meeting and event space; and nine distinctive food & beverage outlets, including the iconic Holiday Isle Tiki Bar, which is storied to be the original inspiration for the popular song, “Kokomo.” Notable amenities include complimentary shuttle access to attractions within a four-mile radius of each property and a 55-slip marina, an unparalleled paradise for offshore and backcountry fishing.

For more information about each individual property please visit: www.amaracayresort.com, www.holidayisle.com, www.pelicancovehotel.com and www.lasiestaresort.com.

About Davidson Hospitality Group‍

Davidson Hospitality Group is an award-winning, full-service hospitality management company comprised of 67 existing hotels and resorts; more than 165 restaurants, bars and lounges; and nearly 1.5 million square feet of meeting space across the United States. A trusted partner and preferred operator for Hilton, Hyatt, Kimpton, Marriott, and Margaritaville, Davidson offers a unique entrepreneurial management style and owners’ mentality that provides the individualized personal service of a small company, enhanced by the breadth and depth of skill and experience of a larger company. In keeping with the company’s heritage of delivering value, Davidson Hospitality Group is comprised of four highly specialized operating verticals: Davidson Hotels, Pivot, Davidson Resorts and Davidson Restaurant Group. For more information, visit www.davidsonhospitality.com. Follow us on Instagram: @davidsonhospitality and Twitter: @DavidsonHospGrp. Like us on Facebook: @DavidsonHospitalityGroup. Connect with us on LinkedIn: @DavidsonHospitalityGroup. #DavidsonHospitality

About KSL Capital Partners‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised approximately $15 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Media contacts:
For Davidson Hospitality Group:
Carrie Drost
Senior Director, Communications
cdrost@davidsonhospitality.com
470-799-6053

For KSL:
Maureen Richardson
River Communications
mrichardson@riverinc.com
914-434-6033

DENVER – June 30, 2021 – KSL Capital Partners, LLC (“KSL”) has completed the final closing of its latest travel and leisure focused credit fund, KSL Capital Partners Credit Opportunities Fund III (“KSL Credit III” or the “Fund”).  The Fund targets dollar denominated performing credit in travel and leisure businesses in North America and the Caribbean.

Against an initial target of $675 million, together with commitments from the General Partner, KSL Credit III exceeded its target with aggregate capital commitments of $753 million.  Surpassing the size of KSL’s prior private credit fund, KSL Credit III is backed by a diverse group of existing and new investors including state pension funds, sovereign wealth funds, endowments, foundations, insurance companies and family offices.

“For nearly 30 years, KSL has invested solely in travel and leisure businesses, and we began investing in performing credit in 2013 with our first dedicated credit fund,” said Eric Resnick, Chief Executive Officer of KSL.  “As an owner, operator or lender, today, we are uniquely suited to provide customized solutions to borrowers, owners, sponsors and companies from performing loans to minority investments to control investments.  KSL Credit III will continue our successful strategy of assisting borrowers in implementing their business plans.”

Craig Henrich, Head of Credit of KSL, added “We believe that our ability to raise KSL Credit III in less than a year and entirely virtually during the pandemic is a testament to the attractiveness to the opportunities of investing in travel and leisure notwithstanding the near-term impact of Covid-19.  We are immensely grateful to our Limited Partners and the support that they have and continue to show our platform.”

Since the firm’s inception in 2005, KSL has raised approximately $15 billion in equity and debt commitments.  Simpson Thacher & Bartlett LLP served as counsel to KSL and the Fund.
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About KSL Capital Partners
KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services.  KSL has offices in Denver, Colorado; London, England; Singapore; and Stamford, Connecticut.  For additional information, please see www.kslcapital.com.

Media Contact:
Maureen Richardson, River Communications
mrichardson@riverinc.com
Mobile: + 914-434-6033
Office: + 1 914-686-5599

New venture focused on assembling a best-in-class marina portfolio throughout North America

North Palm Beach, FL and Denver, CO (May 18, 2021) – Southern Marinas, a premier owner and operator of marina properties, and an affiliate of KSL Capital Partners, the leading investor in travel and leisure businesses, are pleased to announce their partnership to acquire and operate a best-in-class portfolio of marinas across North America.

“KSL is excited to partner with Southern Marina’s highly experienced management team to help continue to build upon their track record of success,” said John Ege, Partner at KSL.  “With highly attractive industry fundamentals, including strong barriers to entry and growing demand for quality boating experiences, we have been exploring various opportunities to invest in the marina space for a number of years.  We believe we have found an exceptional partner in Southern Marinas.”

Southern Marinas, whose principals include Mitchell Jones, Drew Gendron and Gary Rosmarin, look to continue their recent success in the marina space.  “We could not envision a better partner than KSL, whose experience is unrivaled in the travel and leisure market,” said Gendron.  “With a robust pipeline of properties in place, our partnership plans to close on a number of key acquisitions in the near term to anchor the growth of our portfolio.”      

“We have spent several years getting to know KSL and are impressed by their leadership team’s long term track record of consistently growing value for all stakeholders,” Jones added. Over the past 20 years, we have been privileged to help marina owners transition successfully into the next phase of their lives by purchasing their marina assets.  Through our partnership with KSL, our Southern Marinas team will provide even more opportunities to sellers in search of the right people to continue their legacies.”

The principals of Southern Marinas have been involved in the acquisition and management of over 50 marinas and resort properties throughout the United States for more than 20 years. The Southern Marinas team’s experience and operational expertise extends to coastal, mountain and lake marinas and is seeking to replicate this coast-to-coast strategy with KSL.

About Southern Marinas, LLC:‍

Founded in 2018, Southern Marinas, LLC is a premier owner and operator of properties strategically located across the United States. Their experienced leadership team has more than 75 years of combined experience and specializes in marina acquisition and management. Their philosophy is to extend a warm welcome and gracious “Southern Hospitality” across all touchpoints of the customer experience. The proven systems, strategies, and philosophy that they have implemented across their marina portfolio allows them to maximize operational efficiency and deliver premium value to their members, associates, business partners, vendors, and investors. For more information on Southern Marinas, LLC, please contact info@southernmarinas.com or visit www.southernmarinas.com.

About KSL Capital Partners:‍

KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised approximately $14 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.

Media Contacts:
For Southern Marinas: Josalyn Claussen, Marketing & Communications
(815) 904-3098; jclaussen@southernmarinas.com

For KSL: Maureen Richardson, River Communications
(914) 434-6033; mrichardson@riverinc.com

• Blade Urban Air Mobility, Inc. today announced the completion of its business combination with Experience Investment Corp., a special purpose acquisition company sponsored by KSL Capital Partners
• The combined company’s common stock will begin trading on the NASDAQ under the ticker symbol “BLDE” on May 10, 2021
• Transaction proceeds of approximately $365 million, after giving effect to minimal redemptions, enables an acceleration of Blade’s acquisition and route expansion strategy
• Blade will be the first publicly traded urban air mobility company

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New York, NY (May 7, 2021) – BLADE Urban Air Mobility, Inc., a technology-powered air mobility company, today announced the completion of its business combination with Experience Investment Corp. (NASDAQ: EXPC, “EIC”), a NASDAQ listed special purpose acquisition company sponsored by KSL Capital Partners. The combined holding company will change its legal name to Blade Air Mobility, Inc. (the “Blade HoldCo”) and Blade Urban Air Mobility, Inc. (“Blade” or the “Company”) will be its wholly owned, operating subsidiary. The Blade HoldCo’s common stock and warrants are expected to commence trading on May 10, 2021 on the NASDAQ under the new ticker symbols “BLDE” and “BLDEW,” respectively.

As a result of the business combination and concurrent private placement of common stock, Blade HoldCo received approximately $365 million in gross proceeds.

Kenneth B. Lerer, Chairman of Blade said, “Our transaction with EIC is transformative. The capital will enable Blade’s strong brand and consumer proposition in urban air mobility to rapidly scale across new markets while allowing the Company to accelerate M&A activities and ensure that it is well positioned as Electric Vertical Aircraft become available.”

Rob Wiesenthal, Founder and Chief Executive Officer of Blade, added, “Our recent agreements with Electric Vertical Aircraft manufacturers Beta Technologies and Wisk Aero will accelerate our transition to quiet, emission-free, and cost efficient urban air mobility. Additionally, we are well positioned to capitalize on pent-up travel demand with the relaunch of our New York Airport service and related partnership with KAYAK.”

Eric Affeldt, Chief Executive Officer and Chairman of Experience Investment Corp., added, “We are pleased to see the completion of this merger. Blade stands at the intersection of urban air mobility and the ongoing transition to an emission-free transportation world. We believe the unique position of Blade as an operating urban air mobility business will enable it to deliver significant value to internal and external stakeholders.”

In addition to Rob Wiesenthal, Blade’s existing management team will continue to lead the combined company including President Melissa Tomkiel, Chief Financial Officer Will Heyburn, and Chief Technology Officer Brandon Keene.

Advisors‍

Credit Suisse served as the exclusive financial and capital markets advisor to Blade. Deutsche Bank Securities served as lead capital markets and exclusive financial advisor to Experience Investment Corp., with Citigroup and J.P. Morgan acting as joint capital markets advisors. Credit Suisse and Deutsche Bank Securities also acted as lead placement agents on the private offering, with Citigroup and J.P. Morgan acting as joint placement agents. Proskauer Rose LLP served as legal advisor to Blade, and Simpson Thacher & Bartlett LLP served as legal advisor to Experience Investment Corp.

About Blade

Blade is a technology-powered urban air mobility platform committed to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in the U.S. and abroad. Today, the Company predominantly uses helicopters and amphibious aircraft. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA" or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and emission-free. For more information, visit blade.com/investors.

About Experience Investment Corp.‍

Experience Investment Corp. is a special purpose acquisition company sponsored by an affiliate of KSL Capital Partners and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. For more information, please visit experienceinvestmentcorp.com

About KSL Capital Partners‍

KSL Capital Partners, LLC is a private equity firm specializing in premier travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. Since 2005, KSL has raised approximately $13 billion of capital across both debt and equity funds. For more information, please visit kslcapital.com

Forward Looking Statements‍

This press release contains certain forward-looking statements within the meaning of federal securities laws, including with respect to the business combination of Blade and EIC. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. Such factors can be found in EIC’s most recent annual report on Form 10-K, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov, and also in EIC’s Form S-4 and definitive proxy statement/prospectus, filed with the SEC. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us or the business combination between Blade and EIC. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Contacts
For BLADE
Phil Denning / Nora Flaherty
BladeMediaRelations@icrinc.com
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For Experience Investment Corp.
Maureen Richardson
mrichardson@riverinc.com
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For KSL Capital Partners
Maureen Richardson
mrichardson@riverinc.com
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For Investors
Tom Cook
BladeIR@icrinc.com