KSL Sells Davidson Hospitality
Skift Take
Nautic Partners acquired Davidson Hospitality Group from KSL Capital Partners, with KSL remaining involved as a manager, marking Nautic's entry into hotel management ownership.
The DJIA rose 289 points on Friday while Nasdaq was up 145, the S&P 500 rose 23 points and the 10-year treasury yield continued its march to 4.5% again, up .08 to 4.36%. Lodging stocks were mixed. SVC traded down to another new low AHT was down -8% but SOHO surged 20%.
KSL Capital Partners was reported to have sold management company Davidson Hospitality Group to private equity firm Nautic Partners. KSL will continue to work with Davidson as a manager while Nautic takes its first step into hotel management ownership by purchasing the 86 hotel management company. Nautic does have previous experience in third-party property management, facilities management and corporate lodging services. No transaction value was given. Moelis & Company served as financial advisor to Davidson Hospitality Group.
According to STR, the U.S. hotel industry experienced a 2.5% dec
