Ski, Golf, and Vacation Investing at KSL

Eric Resnick

Real Assets

Real Estate


Episode: 322
June 19, 2023

Episode Description:

Eric Resnick is the co-founder and CEO of KSL Capital Partners, a private equity firm launched in 2005 that specializes in the travel and leisure industry. KSL seeks to create remarkable destinations and businesses that inspire joy and awe. The firm manages $21 billion, including investments in Alterra Mountain Company, the second largest ski company in the world and the creator of the Ikon Pass, Under Canvas, Baillie Lodges, and Outrigger Hotels & Resorts. The firm’s portfolio includes many other investments that touch nearly every segment of the travel and leisure industry globally.

Our conversation covers KSL’s beginning as a KKR portfolio company, formation of KSL Capital Partners after a successful exit, and the case for travel and leisure investments. We discuss sourcing targets, consumer experience, operations, competition, capital allocations, opportunities, and risks. We close discussing exit strategies and the future of KSL.

Show Notes:
02:19 Background
08:42 Formation of KSL Capital Partners
15:07 Case for travel & leisure
19:45 Consumer experience
22:31 Sourcing investments
24:38 Operations
27:32 Competition
29:31 Risks
31:14 Opportunities
43:18 Capital allocation
46:48 Exit strategies
48:09 Balancing interests
51:26 Future of KSL
53:57 Closing questions

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