KSL Capital Partners and its wholly owned subsidiary successfully acquired the world famous The Belfry resort located in the West Midlands near Birmingham, United Kingdom.
George Nicholas, Executive Vice President, Jones Lang LaSalle Hotels, said: "The Belfry attracted wide international interest from investors looking to capitalize on the existing golfing reputation and grow the business through renovation of the hotel and restaurants."
George Nicholas added: "The sale is vote of confidence by KSL Capital Partners in to the UK and bolsters the sentiment in the UK lodging sector as evidenced by £1.123 billion (approx. 1.424 billion) in hotel property sales year to date 2012, representing growth of 12% over the same period last year with the majority of investment coming from offshore."
Owners of The Belfry Resort, Sean Quinn Junior and the Quinn family added: "We congratulate KSL Capital Partners on their acquisition of The Belfry, and wish them well. We would particularly like to extend our appreciation to the management and staff at the hotel for their hard work and dedication over the past number of years, and look forward to seeing the proud traditions of The Belfry continuing."
Situated on 54 hectares and housing the headquarters of the UK PGA, the resort comprises 324-rooms, with meeting and conferencing facilities as well as three 18-hole golf courses including the famous Brabazon course, the host of four Ryder Cups, more than any other golf course.
As owner of ClubCorp, the world's preeminent golf club operator, the investment by KSL Capital Partners in The Belfry represents KSL Capital Partners first golf acquisition in to Europe.
The hotel was sold through Jones Lang LaSalle Hotels as the owners exclusive agents.
Source: Jones Lang Lasalle