News

• Blade is a global urban air mobility platform, utilizing a technology-powered, asset light model with unrivaled brand recognition
• Blade to become publicly listed on NASDAQ through a business combination with Experience Investment Corp. (NASDAQ: EXPC), a public entity sponsored by an affiliate of KSL Capital Partners, following expected transaction close in the first half of 2021
• Transaction values Blade at an estimated pro forma equity value of $825 million upon consummation
• Transaction to provide $400 million in gross proceeds, comprised of Experience Investment Corp.’s cash held in trust and an upsized and oversubscribed $125 million fully committed PIPE at $10.00 per share, including investment commitments from affiliates of KSL Capital Partners, Hedosophia, HG Vora Capital Management, and David Geffen, as well as original investors Barry Diller, David Zaslav and Robert W. Pittman
• The capital raised will enable the Company to expand new urban air mobility routes, its network of captive passenger infrastructure, as well as its consumer-to-cockpit technology stack, accelerating its transition from use of conventional aircraft to Electric Vertical Take-Off and Landing (“eVTOL”) aircraft

New York, NY (December 15, 2020) – Blade Urban Air Mobility, Inc. (“Blade” or the “Company”), a technology-powered air mobility company, announced today that it will become publicly listed in order to bolster Blade’s growth trajectory within the rapidly growing urban air mobility market and to accelerate its transition from conventional aircraft to eVTOL. Currently, more people fly helicopters in and out of U.S. city centers via Blade than any other company in the world. Urban air mobility is expected to be a $125 billion market by 2025 and grow to $650 billion over the next decade, according to Morgan Stanley Equity Research.

The Company and Experience Investment Corp. (NASDAQ: EXPC and EXPCW), a NASDAQ listed special purpose acquisition company sponsored by an affiliate of KSL Capital Partners, signed a definitive business combination agreement pursuant to which Blade will merge into a subsidiary of Experience Investment Corp. (which will change its name to Blade Urban Air Mobility). Upon closing of the transaction, the combined operating company is expected to continue to be listed on NASDAQ. Blade provides consumers with a cost effective and time efficient alternative to ground transportation for congested routes, predominantly within the Northeast United States and India.

The Company has developed exclusive passenger terminal infrastructure in key markets, providing a competitive advantage in locations that are geographically constrained from adding additional heliports.Additionally, leading brands partner with Blade to provide visibility of their products and services to the Company’s passengers, underscoring the brand recognition and reputation that Blade has developed.Blade was specifically designed to be scalable and profitable using conventional helicopters today, whilepoised to seamlessly transition to eVTOL as soon as those aircraft are ready for public use, passing on lower operating costs to fliers and enabling a reduced noise footprint and zero carbon emissions for the communities the Company serves.

Blade operates in four key lines of business:

• Short Distance – Flights between 60 and 100 miles in distance, primarily servicing commuters for prices between $595 and $795 per seat (or $295 for monthly commuter pass holders).• BLADE Airport – Flights between all New York area airports and dedicated Blade lounges in Manhattan’s heliports. Prices start at $195 per seat (or $95 per seat with the purchase of an annual Airport Pass).
• BLADE MediMobility – Blade is the largest transporter of human organs in the Northeast United States, reducing the costs and transport time for hospitals versus legacy competitors. This business is a critical part of the Company’s growth strategy as organ movements are expected to be one of the first uses of eVTOL, before flights for passengers.
• International Joint Ventures – As part of its expansion strategy, the Company forms joint ventures with local partners in key overseas markets to provide the technology, customer experience, infrastructure design, and employee training, that enables a scalable and consistent Blade experience. Blade’s first international joint venture launched helicopter services late last year in India flying between Mumbai, Pune, and Shirdi.

The Company expects to use proceeds from the transaction to fund expansion into new markets,including the Northeast Corridor and West Coast in the United States, as well as internationally in Asia.The Company will also pursue infrastructure acquisitions in these markets, resulting in improved unit economics for its current business while enabling the Company’s transition to eVTOL aircraft.All leading aerospace OEMs, including Airbus, a Blade investor, have deployed billions in the development of eVTOL aircraft. This new aerospace technology offers significant advantages to conventional aircraft currently used by Blade. The Company’s management believes eVTOL’s combination of reduced noise, zero carbon footprint and enhanced safety will serve as a catalyst to developing new vertiport infrastructure (landing zones with passenger terminals) in cities across the globe.

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1. While Blade offers flights between Manhattan and all area airports, Blade’s $195/seat product is currently paused due to the COVID-19 pandemic

Rob Wiesenthal, Founder and Chief Executive Officer of Blade, commented, “Ground mobility has been radically transformed by software and battery technology, as evidenced by the rapid adoption of electric vehicles. The next battle is in the air. This transaction provides the capital for Blade to profitably expandits urban air mobility business using conventional rotorcraft today, while providing a seamless transitionto eVTOL aircraft tomorrow.

”Eric Affeldt, Chief Executive Officer and Chairman of Experience Investment Corp., added, “Our deep investing expertise in aviation led us to evaluate dozens of potential opportunities, of which none proved as compelling an investment opportunity as Blade. We believe Blade has successfully leverag edits first-mover advantage in urban air mobility with proprietary customer-to-cockpit technology,strategic and exclusive passenger terminal infrastructure as well as a loyal customer base to catalyze growth in the industry. They are well-positioned to fortify their business growth through expansion to new markets, globally, as well as through investment in infrastructure to support new routes while accommodating the future requirements of eVTOL. Additionally, KSL’s portfolio company, Ross Aviation,which operates 17 FBOs in North America, including in New York, Massachusetts, and California, may provide important partnership opportunities for Blade and Ross Aviation to accommodate eVTOL routes, maintenance and charging stations in key markets.”

Transaction Overview

Pursuant to the transaction, Experience Investment Corp., which currently holds approximately $275million cash in trust, will combine with Blade at an estimated $825 million pro forma equity value.Assuming no redemptions by Experience Investment Corp. stockholders, Blade’s equity holders immediately prior to closing are expected to hold approximately 43.2% of the issued and outstanding shares of common stock of the combined company immediately following the closing of the business combination.

The combined company’s available cash will be funded through a combination of Experience Investment Corp.’s cash in trust and a $125 million fully committed common stock PIPE at $10.00 per share,including investment commitments from affiliates of Hedosophia, HG Vora Capital Management, KSL Capital Partners, and David Geffen, as well as original investors Barry Diller, David Zaslav and Robert W.Pittman.

The boards of directors of both Blade and Experience Investment Corp. have unanimously approved the proposed transaction. Completion of the proposed transaction is subject to approval of Experience Investment Corp. and Blade’s stockholders and other customary closing conditions, including a registration statement being declared effective by the Securities and Exchange Commission. The transaction is expected to be completed in the first half of 2021.

Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by Experience Investment Corp. today with the Securities and Exchange Commission and available at www.sec.gov. Blade’s existing shareholder base is comprised of strategic business partners, institutional venture capital firms and leading private venture investors, including: Airbus, Lerer Hippeau, Raine Ventures,LionTree Ventures, Barry Diller (Chairman, IAC Inc.), David Zaslav (CEO of Discovery, Inc.) and Eric Schmidt (former CEO of Google). These existing shareholders will retain 100% of their equity in the combined company through the transaction.

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Management and Board of Directors‍

Upon completion of the transaction, the combined company will continue to be led by Mr. Wiesenthal as Chief Executive Officer. The senior management team will also include Will Heyburn, Chief Financial Officer and Head of Corporate Development, Brandon Keene, Chief Technology Officer, and Melissa Tomkiel, General Counsel.

Upon completion of the transaction, the Board of Directors is expected to include:

• Eric Affeldt, Chief Executive Officer of Experience Investment Corp. and previously CEO of publicly-traded ClubCorp
• Jane Garvey, former administrator of the Federal Aviation Administration (FAA) and former Chairman of the Board of Directors of United Airlines Holdings, Inc.
• Kenneth Lerer, Managing Partner of Lerer Hippeau, Co-Founder of Huffington Post, and former Director of Viacom, Inc.
• Susan Lyne, Co-founder and General Partner of BBG Ventures and former President of ABC Entertainment Group, a division of the Walt Disney Company
• Ted Philip, Lead Independent Director of United Airlines Holdings, Inc. and Lead Independent Director of Hasbro, Inc.
• Rob Wiesenthal, Founder and Chief Executive Officer of Blade; Former Chief Financial Officer of Sony Corp. of America, Head of Global Corporate Development, Sony Corporation, and Chief Operating Officer, Warner Music Group
• David Zaslav, Chief Executive Officer of Discovery, Inc. and Director of Sirius XM Holdings, Inc.,

Lions Gate Entertainment Corp., and Grupo Televisa, S.A.B.

Advisors‍

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

Blade and Experience Investment Corp. will host a joint investor conference call to discuss the business and the proposed transaction today, December 15th , at 9:00 AM ET.

To listen to the conference call via telephone, dial 1-877-407-9039 or 1-201-689-8470 (international callers/U.S. toll) and enter the conference ID number 13714323. To listen to the webcast, please click here. A replay of the call will be accessible at the webcast link. For Blade investor relations website, visit www.flyblade.com/investors.
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About Blade Urban Air Mobility
Blade is a technology-powered, global 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. For more information, visit www.flyblade.com.

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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. The sponsor is an indirect portfolio company of KSL Capital Partners V, L.P. and its parallel funds and is controlled by KSL Capital Partners V GP, LLC.
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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 www.kslcapital.com.
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Additional Information and Where to Find It‍

Experience Investment Corp. (“EIC”) intends to file with the U.S. Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4 (the “Form S-4”), which will include a preliminary proxy statement/prospectus in connection with the proposed business combination (the “Merger”) and will mail a definitive proxy statement/prospectus and other relevant documents to its stockholders. EIC’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus, and amendments thereto, and the definitive proxy statement/prospectus in connection with EIC’s solicitation of proxies for its stockholders’ meeting to be held to approve the Merger because the proxy statement/prospectus will contain important information about EIC, Blade and the Merger. The definitive proxy statement/prospectus will be mailed to stockholders of EIC as of a record date to be established for voting on the Merger. Stockholders will also be able to obtain copies of the Registration Statement on Form S-4 and the proxy statement/prospectus, without charge, once available, at the SEC’s website at www.sec.gov or by directing a request to Experience Investment Corp., 100 St. Paul St., Suite 800. Denver, CO 80206 or mrichardson@riverinc.com.
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Forward Looking Statements‍

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to EIC’s and Blade’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning the timing of the Merger, the business plans, objectives, expectations and intentions of EIC once the Merger and the other transactions contemplated thereby (the “Transactions”) and change of name are complete (“New Blade”), and Blade’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on EIC’s or Blade’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
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Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside EIC’s or Blade’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (2) the inability to complete the Transactions due to the failure to obtain approval of the stockholders of EIC or Blade or other conditions to closing in the Merger Agreement; (3) the ability of New Blade to meet Nasdaq’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the Merger; (4) the inability to complete the private placement of common stock of EIC to certain institutional accredited investors; (5) the risk that the announcement and consummation of the Transactions disrupts Blade’s current plans and operations; (6) the ability to recognize the anticipated benefits of the Transactions, which may be affected by, among other things, competition, the ability of New Blade to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (7) costs related to the Transactions; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the Transactions; (9) the possibility that Blade and New Blade may be adversely affected by other economic, business, regulatory and/or competitive factors; (10) the impact of COVID-19 on Blade’s and New Blade’s business and/or the ability of the parties to complete the Transactions; (11) the outcome of any legal proceedings that may be instituted against EIC, Blade, New Blade or any of their respective directors or officers, following the announcement of the Transactions; and (12) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements 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 will also be provided in the Registration Statement on Form S-4 and EIC’s proxy statement/prospectus when available. 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. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and EIC and Blade 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.
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This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in EIC and is not intended to form the basis of an investment decision in EIC. All subsequent written and oral forward-looking statements concerning EIC and Blade, the Transactions or other matters and attributable to EIC and Blade or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
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Participants in the Solicitation‍

EIC, Blade and certain of their respective directors and officers may be deemed participants in the solicitation of proxies of EIC’s stockholders with respect to the approval of the Merger. EIC and Blade urge investors, stockholders and other interested persons to read, when available, the Form S-4, including the preliminary proxy statement/prospectus and amendments thereto and the definitive proxy statement/prospectus and documents incorporated by reference therein, as well as other documents filed with the SEC in connection with the Merger, as these materials will contain important information about Blade, EIC and the Merger. Information regarding EIC’s directors and officers and a description of their interests in EIC is contained in EIC’s annual report on Form 10-K for the fiscal year ended December 31, 2019. Additional information regarding the participants in the proxy solicitation, including Blade’s directors and officers, and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement on Form S-4 and the definitive proxy statement/prospectus for the Merger when available. Each of these documents is, or will be, available at the SEC’s website or by directing a request to EIC as described above under “Additional Information About the Transaction and Where to Find It.” No Offer or Solicitation
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This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Transactions and shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
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Press Contacts
For Media Relations
Phil Denning / Nora Flaherty
BladeMediaRelations@icrinc.com
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Investor Relations
Mike Callahan / Tom Cook
BladeIR@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

Restaurant group enters next phase of expansion with investment from KSL affiliate

AUSTIN, Texas – November 9, 2020 – Leading Austin-based, James Beard Award-winning restaurant group Hai Hospitality today announced that an affiliate of KSL Capital Partners has made a substantial investment in the company. This investment will enable Hai Hospitality to accelerate the growth and expansion of their acclaimed restaurant brands and continue to elevate the guest experience. The Hai Hospitality leadership team, including Founding Chef and Partner Tyson Cole, will remain at the helm. The financial terms of the transaction were not disclosed.

"We opened Uchi Austin in 2003 with a unique and modern approach to Japanese food," said Cole. "It's amazing to see our evolution and the growth of a culture and team so dedicated to offering incredible experiences for our guests every day. I'm excited for KSL's investment and to continue bringing the magic of Hai’s concepts to new markets across the U.S."

The team at KSL have been long-time admirers of the Hai team and culture and its restaurant concepts. "Hai’s extreme attentiveness to the guest experience, exacting attention to culinary and design detail, as well as their focus on people, culture, and community is unmatched in the industry," said Chris Chang, Principal at KSL Capital Partners.

Hai's first restaurant Uchi, which opened in 2003, quickly earned recognition with Cole’s selection as one of Food & Wine Magazine’s “Best Chefs” in 2005. Chef Cole's signature, non-traditional take on Japanese food and the rising popularity of Uchi and sister restaurant, Uchiko, continued to receive accolades, with a designation by Bon Appetit as one of “the 20 Most Important Restaurants in America,” and the James Beard Foundation's "Best Chef Southwest Award" in 2011.

Since the opening of the first location in Austin, five additional Uchi-branded restaurants have opened: Uchiko Austin (2010), Uchi Houston (2012), Uchi Dallas (2015), Uchiba Dallas (2016), and Uchi Denver (2018).

Hai also launched LORO Asian Smokehouse & Bar in 2018, in partnership with Aaron Franklin, a James Beard Award-winning chef and the founder of Franklin Barbecue.  Loro is a relaxed, counter-style restaurant combining techniques from Texas barbecue and bold flavors from Southeast Asia to create a unique dining experience that consistently delights a huge base of enthusiastic fans.

"We couldn't imagine a better partner than KSL for growing our restaurant brands and continuing to foster Hai Hospitality’s culture," said Hai Chief Executive Officer Tony Montero. “Hai’s mission to continue elevating the guest experience through innovative food, exceptional service, and thoughtful design aligns perfectly with KSL's long history of building differentiated, experiential hospitality brands that are committed to people and community impact."

"We feel privileged to partner with a team with such a strong operational foundation and look forward to helping grow Uchi and Loro in new and existing markets," said John Ege, Partner at KSL Capital Partners.

About Hai Hospitality‍

Hai Hospitality is an award-winning restaurant group based in Austin, Texas that began with Uchi, Japanese for ‘home’, and so named for the little red house where Chef Tyson Cole first created his nontraditional take on elevated Japanese cuisine in 2003. Hai Hospitality concepts now include Uchi Austin, Uchi Dallas, Uchi Houston, Uchi Denver, Uchiko Austin, Uchibā Dallas, and LORO Asian Smokehouse and Bar.  Hai Hospitality gives each of their restaurants the space to create and cultivate their own identities and supports them in a variety of capacities so that each location has the freedom to grow while still being part of the bigger family—a family that has a common set of core values; a shared vision for food, service, and design; and a collective pool of knowledge and expertise to draw upon no matter where they call home.

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; and London. Since 2005, KSL has raised approximately $13 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.

Names Industry Veteran Mark Burnett President and CEO

DENVER, CO – February 10, 2020: KSL Capital Partners, LLC (“KSL”), a leading investor in travel and leisure businesses, announced that an affiliate of KSL acquired Heritage Golf Group from Tower Three Partners, a private equity firm. The Heritage Golf Group portfolio includes three resort-style properties on Hilton Head Island in South Carolina (Port Royal Golf Club, Oyster Reef Golf Club, and Shipyard Golf Club), two championship TPC clubs in Sarasota and the greater Tampa Bay area in Florida (TPC Prestancia and TPC Tampa Bay), and a private country club in Richmond, Virginia (The Dominion Club). Mark Burnett, who has held previous leadership roles with other KSL portfolio companies, has been named President and CEO.

“The opportunity to acquire Heritage Golf aligns with our strategy of purchasing high-quality assets in the travel and leisure industry,” said Marty Newburger, a Partner with KSL. “With Mark’s strong leadership, we look forward to improving the member and customer experience at each of the clubs and growing the portfolio through strategic acquisitions with a strong focus on private country clubs.”

Burnett brings over 25 years of executive leadership in the golf industry, most recently as President and COO of ClubCorp. Previously, Burnett served as COO at American Golf Corporation, and President and CEO at KSL Fairways Golf Corporation.

“We are excited to welcome Heritage Golf and its outstanding management team and employees to the KSL portfolio,” said Burnett. “These lifestyle clubs are uniquely positioned and provide a wide range of benefits and outstanding experiences to the members and guests. This portfolio provides an excellent platform for future acquisition growth, and combined with KSL’s financial strength, will allow us to expand rapidly in the private club sector.”

Jeff Woolson, an executive vice president with CBRE who serves as the managing director of its Golf & Resort Group, handled the transaction.

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 $12 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.

About Heritage Golf Group‍

Founded in 1999, Heritage Golf Group is an innovative, industry-leading hospitality company operating premier private, resort and daily fee golf properties spanning Florida, South Carolina and Virginia. Guided by the principle of evolving the golf business experience to the highest level, each individual club’s amenities and operational systems are tailored to augment its one-of-a-kind assets. For more information, please visit www.heritagegolfgroup.com.

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

DENVER, CO -- November 22, 2019: Soneva, one of the world’s leading luxury resort developers and operators, announced today that an affiliate of KSL Capital Partners, LLC has taken a significant minority stake in the company. Soneva operates a collection of luxury resorts in the Maldives and Thailand. The partnership with KSL underscores the attractiveness of the Soneva brand and will support the company’s short- and long-term development goals.

As part of KSL’s investment, Sailing Capital, which had invested in Soneva in 2014, redeemed its investment in Soneva. With the support of Sailing Capital, Soneva was able to expand its portfolio in the Maldives. This includes the 2016 opening of the award-winning Soneva Jani Resort, which firmly re-established Soneva as a leader in the overwater villa market with its stunning design and architecture.

Tina Yu, a principal at KSL said, "The more we have gotten to know Soneva, the more excited we are about the opportunities to help Soneva grow.  At KSL, we invest solely in travel and leisure, and we recognize the power of the Soneva brand platform in the expanding market for luxury experiential travel. Soneva has 25 years of experience operating at the very highest level and have been pioneers in creating rare authentic experiences for their guests.  We look forward to a long and successful partnership with Soneva and its management team.”

Soneva was founded in 1995 by Sonu Shivdasani and Eva Malmström Shivdasani.

"We are immensely grateful to Sailing Capital for the faith it showed in Soneva and our management team. Sailing has been instrumental in our success to date,” said Mr. Shivdasani.  “We are delighted to welcome KSL as our partner in Soneva. We have many exciting plans, and I cannot imagine better partners to help execute the next stage of Soneva’s growth.”

"Soneva has been a great investment for Sailing Capital,” said Liang Tsui, CEO of Sailing Capital. “We have enjoyed a very productive partnership with Soneva and together we have realised the opening of Soneva Jani, a highly acclaimed environmentally sustainable luxury resort, and delivered a healthy return on our investment. We are very pleased to see Soneva being ideally positioned for future growth. Whilst our partnership with Soneva is ending, our friendship with the company will continue well into the future."

For more information about Soneva, visit www.soneva.com

About Soneva

Soneva is a pioneering family of hospitality properties, offering holistic encounters in luxurious and inspiring environments – from world class resorts to outstanding natural locations.  Soneva Fushi, Soneva Jani and Soneva in Aqua in the Maldives, and Soneva Kiri in Thailand rebuke the traditional concept of luxury and instead promise the luxury of time, purity and solitude. Every day, guests are encouraged to discover sandy feet, inspired minds and full hearts. Combining luxury with a conscientious approach to sustainability and the environment, and proactively changing the nature of hospitality, it delivers intuitive service and meaningful experiences to the guests.    

About KSL Capital Partners‍

KSL Capital Partners, LLC is a private equity firm specialising 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 USD 12 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. In line with Soneva’s philosophy, KSL has a Responsible Investment (RI) policy, the purpose of which is to define their approach to integrating environmental, social and governance (ESG) risks and opportunities into investments made through its private equity funds. They believe that effective management of ESG issues is critical to preserving and creating long-term value for investors, operators, employees, guests and communities. For more information, please visit www.kslcapital.com.

Media Contacts:
For Soneva: Carissa Nimah, Chief Marketing Officer, Soneva
carissa@soneva.com
D: +66 2631 9624 | Skype: carissa.crowley | www.soneva.com
Bangkok, Thailand

For KSL: Maureen Richardson, River Communications
mrichardson@riverinc.com
Office: + 1 914-686-5599
Mobile: + 1 914-434-6033
New York, USA

Dan Musser III remains as Chairman of America’s Summer Place

Denver, CO and Mackinac Island, MI (September 10, 2019) KSL Capital Partners, LLC (KSL) and the Musser family announced today that they have entered into a definitive agreement under which an affiliate of KSL will acquire the Grand Hotel from the Musser family, whose legacy with the hotel dates back over 85 years. Dan Musser III will remain Chairman, providing leadership and guidance to the team, ensuring a seamless transition. Terms of the transaction will not be disclosed. The transaction is expected to close within the next 30 days.

“It has truly been an honor and a privilege for my family to serve as steward of this incredible Michigan landmark for nearly nine decades. This is a role we have not taken lightly, nor was this decision to transfer ownership to KSL,” said Musser. “KSL is a seasoned investor in travel and leisure businesses, with a depth of resources and capabilities to provide exceptional service. KSL has owned and operated some of the most prestigious destinations in the world, and we are pleased that they will help preserve the history and heritage of Grand Hotel.”

Located on Michigan’s historic Mackinac Island, the 397-room hotel, with its famed 660-foot long porch—the world’s longest porch—is a National Historic Landmark that overlooks the Straits of Mackinac and the Mackinac Bridge. Guests arrive on the motorized-vehicle free island by ferry or airplane and are transported to the hotel by horse and carriage. Open from early May to late October each year, Grand Hotel is currently celebrating its 133rd season.

“KSL understands the importance of Grand Hotel to Mackinac Island, the State of Michigan and beyond, as well as its history, charm and traditions. It is both a privilege and a great responsibility to take over ownership,” said Michael Mohapp, a Principal of KSL. “We are grateful for the trust that the Musser family has placed upon us, and for Dan’s continued guidance that will help ensure that Grand Hotel remains a driving force in drawing visitors to Mackinac Island as it has for generations.”

Pivot Hotels & Resorts, the lifestyle and luxury operating division of Davidson Hotels & Resorts, will be engaged to manage the property for KSL.

About Grand Hotel‍

Grand Hotel is a proud member of Historic Hotels of America. It has been one of America’s premier summer vacation spots since it opened on July 10, 1887. Throughout its history, Grand Hotel has hosted worldwide dignitaries and five US presidents. For 26 consecutive years it has earned the AAA Four Diamond rating, and has been honored with a number of awards including most recently being named Best All-Inclusive Resort in the country and One of the Top 10 Best Historic Hotels by the readers of USA Today in the 2019 10Best Awards, Travel + Leisure Top 5 Best Resort Hotels in Michigan and Best Hotel in Michigan by Condé Nast Traveler. Grand Hotel scored in the top 10 percent of the Best Hotels in the United States, earning the Gold badge from US News and World Report and was also named a Top 10 All-Inclusive Resort for 2019, as well as the 2018 Platinum Choice award by Smart Meetings. Grand Hotel, along with five onsite restaurants, were recognized with the 2019 TripAdvisor Certificate of Excellence.

For more information, please visit www.grandhotel.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; and London. Since 2005, KSL has raised approximately $12 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.