KSL Capital Partners Takes Majority Stake in Soneva


Skift Take

Small private equity firm KSL Capital Partners took a majority interest in sustainable luxury hotel brand Soneva.

Sri Lanka’s Tourism Minister announced the country is on track to achieve $5 billion in tourism revenue this year, driven by political stability and rapid growth in visitor arrivals. In 1Q25, Sri Lanka generated $1.2 billion in tourism revenue with expectations of $2.5 billion by mid-year. They will welcome their one millionth visitor of the year this week, nearly a month ahead of last year’s timeline. 91,785 visitors arrived in the first 21 days of May.

Singapore’s Changi Airport set a new all-time record for passenger movements in 2024, up 9% year on year to 68.4 million.

Following an initial investment in 2019, KSL Capital Partners exercised its right to convert securities to take a majority interest in sustainable luxury hotel brand Soneva. The Shivdasanis, the founders, will retain a stake. Neil Gallagher was appointed CEO of Soneva, coming to them from Clermont Hotel Group, where he was CEO and CFO.