Private equity firm buys Paso Robles Inn and other Martin Resort properties
Five local hotels with 346 rooms sold to KSL Capital Partners
– KSL Capital Partners this week announced that an affiliate has acquired the Martin Resorts Collection of five independent boutique hotels along California’s Central Coast, midway between Los Angeles and San Francisco. The collection includes Avila Lighthouse Suites in Avila Beach; Pismo Lighthouse Suites and Shore Cliff Hotel in Pismo Beach; and Paso Robles Inn and The Piccolo in Paso Robles.
The terms of the deal were not disclosed. KSL Resorts, an independent management company, will manage each of the hotels.
“We could not be more proud to be given the opportunity to continue on the traditions of Martin Resorts and its founding family,” said Mike Mohapp, partner at KSL.
“More than 20 years ago, they created a spirit of hospitality to enrich the lives of their employees, guests, and the San Luis Obispo County community. We intend to fulfill the mission of the Martin family, and we look forward to building on this legacy through investments in these wonderful properties.”
Noreen Martin, president and CEO of Martin Resorts – founded by her late husband Tom Martin in 1999 – said, “The Martin Resorts Collection has been the passion of my family for over two decades and finding the right partner to carry on our dedication to our local environment and community has been a priority for us.”
“KSL shares our values and our commitment to providing guests with unforgettable and enduring experiences that reflect each resort’s unique qualities,” she said. “We are confident the firm is the right owner to nurture and enhance the attributes and traditions that have set the Martin Resorts Collection apart.”
The five properties comprise 346 total rooms, including the 54 oceanfront, all-suite Avila Lighthouse Suites, the 70 oceanfront newly-renovated all-suite Pismo Lighthouse Suites, 100 oceanfront room Shore Cliff Hotel perched 90 feet above the Pacific Ocean, The Piccolo, a newly constructed 24 room intimate property in downtown Paso Robles, and the landmark 98 room Paso Robles Inn first established in 1889.