Latest news with #Soneva
Skift
28-05-2025
- Business
- Skift
KSL Capital Partners Takes Majority Stake in 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. Marriott International, Inc. announced the global launch of its new collection brand for the midscale and upscale lodging segments, Series by Marriott, as the company continues to expand its lodging offerings around the world. Series by Marriott marks its initial launch through a founding deal with Concept Hospitality Private Limited (CHPL) in India, a key growth market for Marriott. Under the strategic agreement between CHPL and Marriott, CHPL's flagship brands, The Fern, The Fern Residency, and The Fern Habitat, will affiliate with Series by Marriott on an exclusive basis across India, and Marriott will make a small equity investment in CHPL. The Fern portfolio is currently comprised of 84 open properties and 31 executed pipeline deals, totaling 115 properties and approximately 8,000 rooms. Fern properties are expected to join Marriott's portfolio in India over time following discussions with the third-party hotel owners and execution of long-term franchise agreements with those owners. Boutique Corporation Public Company Limited signed a development and management agreement with Marriott International to launch the new JW Marriott Hotel Bangkok Sukhumvit 24, located in the Phrom Phong district. The 5-star development is one of Boutique Corporation's largest projects to date. The hotel is to be set on over 3 rai of prime land in central Sukhumvit and include premium guest rooms, fine dining restaurants, meeting and conference facilities, a grand ballroom, and a rooftop bar and restaurant with panoramic views of Bangkok. Construction is expected to begin in 2026 with an opening in 2030. Pontiac Land Group announced the official naming of the former Department of Lands building in Sydney, Australia, as The Lands by Capella. The Lands by Capella and existing Capella Sydney will be known as The Sandstone Precinct. The two Sandstone buildings mark Pontiac Land Group's first mixed-use development in Australia and are one of the largest privately funded tourism infrastructure projects in NSW. The Lands by Capella is expected to open in a heritage-listed building in 1Q 2026. It will offer approximately 10,000 square meters of luxury retail, refreshing F&B concepts with rooftop dining and large-scale event spaces, and be home to Florence Guild's newest venture, The Sandstones Club by Florence Guild. The 144-room Sebel Canberra Civic in Australia is on the market, six years after its opening. The hotel is located in the heart of the city, opposite the Legislative Assembly, occupying levels 1-9 of the 10-story building with 144 upscale, self-contained apartment-style guest rooms. Colliers is marketing the hotel for sale, expecting it to have a sale price of $50 million. Partnering with JH Group, IHG Hotels & Resorts will open voco Darwin Suites in the heart of the city's CBD, within walking distance to Darwin Convention Centre in Darwin, Australia. The 87-room voco Darwin Suites will be converted from a repurposed commercial office building and features an all-day dining restaurant, meeting space, fitness center, and outdoor pool. Radisson Hotel Group announced the opening of Radisson Blu Hotel, Shanghai Stadium, situated in the heart of Xujiahui Sports Park. The hotel features 208 rooms and suites, occupying floors 6 to 12 of Shanghai Stadium with sizes ranging from 38 to 200 square meters. The hotel includes nearly 1,000 square meters of meeting and events spaces, three distinct dining venues, and a fitness center with a hyperbaric oxygen chamber, workout facilities, and a swimming pool. Radisson Hotel Group also said they opened five new hotels in India in the first half of 2025 in Jamshedpur, Yelahanka, Koti, Gaj, and Prayagraj. They also signed three new hotels in the Eastern region. Hotel Deoghar in Jharkhand, Radisson RED Puri in Odisha, and Radisson Resort and Spa, Ranchi in Jharkhand are the new signings with a combined key count of 400. I.P. Constructions Private Limited announced the grand opening of Ramada by Wyndham Ghaziabad Vasundhara, a hotel located in the hub of Ghaziabad, India. The 160-room property has been years in the making. Thailand's Deputy Finance Minister Julapun Amornvivat continues to be the lead guy in trying to sway public opinion on the proposed Entertainment Casino Complexes that are expected to be approved by lawmakers in July, despite local opposition. He said his conversations with international hotel casino companies led him to believe the investments could reach US$6.2 to US$9 billion each, up from the expected US$3.1 billion. He did leave out the caveat that these companies are demanding ultra-low tax rates, a liberal policy to allow locals to gamble, and support from the government. The Bangkok Post painted a bit of a different picture, saying tensions are rising between the ruling Pheu Thai Party and coalition party Bhumjaithai. Remember that the coalition partner had a very outspoken comment against the entertainment complexes, even though they are supposed to be partners with the ruling party. The newspaper said the Bhumjaithai may not support the 2026 budget bill. OYO is said to have started discussions with bankers for yet another attempt at an IPO. This time, they are targeting a listing in the final quarter of the current financial year. Preliminary discussions with bankers have suggested a potential valuation of US$6 to US$7 billion for the IPO. OYO is engaging with both Indian and international banking institutions and aims to file the DRHP documents between August and September.
Yahoo
23-05-2025
- Business
- Yahoo
KSL Capital Partners Has Taken a Majority Stake in Soneva
DENVER, May 23, 2025 /PRNewswire/ -- KSL Capital Partners, LLC ("KSL"), a leading alternative investment firm, today announced that an affiliate has taken a majority interest in the Soneva Group ("Soneva"), a pioneer in sustainable luxury hospitality since 1995 with award-winning resorts in the Maldives, following the exercise of its right to convert certain securities. The transaction builds on the firm's initial minority investment in November 2019 and underscores KSL's continued conviction in Soneva's long-term strategy and differentiated approach to ultra-luxury experiential travel. To help lead the next phase for Soneva, Neil Gallagher has been appointed Chief Executive Officer of Soneva. A seasoned international hospitality leader, Mr. Gallagher brings more than two decades of experience across Europe, the Middle East, the U.S. and the Caribbean. He previously served as CEO and CFO of Clermont Hotel Group (formerly glh Hotels Management) and held leadership roles at IHG Hotels & Resorts, including CFO, Europe. Earlier in his career, Mr. Gallagher held leadership positions at Marriott Vacation Club International. About SonevaFounded in 1995, Soneva is a pioneering, award-winning luxury resorts operator. At Soneva Fushi, Soneva Jani, Soneva Secret and the Soneva in Aqua yacht in the Maldives, true 'luxury' is defined by peace, time and space. Guests discover the SLOW LIFE, reconnecting with themselves and the natural world through rare, unforgettable experiences. Soneva is a pioneer for responsible tourism, combining sustainability with exquisite hospitality and intuitive, personalized service. About KSL Capital Partners KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure. KSL has spent more than three decades investing in luxury and experiential travel, building a leading global portfolio of high-end resorts, destination experiences and hospitality brands. With deep sector expertise and an expansive international footprint, the firm brings significant scale and experience to the global Travel & leisure sector, along with differentiated insight into the ultra-luxury hospitality market. For more information, please visit Media ContactKate Thompson / Erik CarlsonJoele Frank, Wilkinson Brimmer KatcherKSL-JF@ 355-4449 View original content: SOURCE KSL Capital Partners Sign in to access your portfolio
Associated Press
23-05-2025
- Business
- Associated Press
KSL Capital Partners Has Taken a Majority Stake in Soneva
DENVER, May 23, 2025 /PRNewswire/ -- KSL Capital Partners, LLC ('KSL'), a leading alternative investment firm, today announced that an affiliate has taken a majority interest in the Soneva Group ('Soneva'), a pioneer in sustainable luxury hospitality since 1995 with award-winning resorts in the Maldives, following the exercise of its right to convert certain securities. The transaction builds on the firm's initial minority investment in November 2019 and underscores KSL's continued conviction in Soneva's long-term strategy and differentiated approach to ultra-luxury experiential travel. To help lead the next phase for Soneva, Neil Gallagher has been appointed Chief Executive Officer of Soneva. A seasoned international hospitality leader, Mr. Gallagher brings more than two decades of experience across Europe, the Middle East, the U.S. and the Caribbean. He previously served as CEO and CFO of Clermont Hotel Group (formerly glh Hotels Management) and held leadership roles at IHG Hotels & Resorts, including CFO, Europe. Earlier in his career, Mr. Gallagher held leadership positions at Marriott Vacation Club International. About Soneva Founded in 1995, Soneva is a pioneering, award-winning luxury resorts operator. At Soneva Fushi, Soneva Jani, Soneva Secret and the Soneva in Aqua yacht in the Maldives, true 'luxury' is defined by peace, time and space. Guests discover the SLOW LIFE, reconnecting with themselves and the natural world through rare, unforgettable experiences. Soneva is a pioneer for responsible tourism, combining sustainability with exquisite hospitality and intuitive, personalized service. About KSL Capital Partners KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; New York, New York; and London, England. KSL invests across three primary strategies through its equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure. KSL has spent more than three decades investing in luxury and experiential travel, building a leading global portfolio of high-end resorts, destination experiences and hospitality brands. With deep sector expertise and an expansive international footprint, the firm brings significant scale and experience to the global Travel & leisure sector, along with differentiated insight into the ultra-luxury hospitality market. For more information, please visit Media Contact Kate Thompson / Erik Carlson Joele Frank, Wilkinson Brimmer Katcher [email protected] (212) 355-4449 View original content: SOURCE KSL Capital Partners
Emirates Woman
12-03-2025
- Emirates Woman
Eid escapes 2025: Where to travel this UAE long weekend
News by Alice Holtham-Pargin 1 min ago We already know that there's a UAE long weekend on the way. And although it's yet to be confirmed whether Eid Al Fitr will be a four- or five-day public holiday in the UAE, we do know it's the perfect opportunity to jet off for a fabulous break. If you're unsure how to spend the Eid holiday, we've got some wanderlust-inducing travel inspo that will take you from golden deserts to sparkling private islands. Here are 6 travel ideas for a dreamy Eid Al Fitr escape. Next-level family fun in the Maldives Flight time from Dubai: 4 hours 30 minutes The stay: In this idyllic archipelago you'll find all the big-hitting hospitality brands that have made a name for themselves around the world. But for the ultimate experiential island resort with wow factor, retreat back to one of the Maldives' first brands, Soneva. Their duo of Maldivian resorts – Soneva Jani and Soneva Fushi both promise fabulous family fun this Eid Al Fitr. When you book a minimum three nights you'll get a fourth night complimentary, or book five nights and stay for seven at no extra cost. While on island time, children enjoy full-board dining and experiences for all ages range from snorkelling with manta rays, to dolphin spotting, films under the stars at the jungle cinema and picnics on private sandbanks. Rates: From AED6,465 From desert to ocean at the Red Sea, Saudi Arabia Flight time from Dubai: 3 hours 30 minutes The stay: One of the world's newest and most exciting tourism destinations, The Red Sea is a megaproject being brought to life on Saudi Arabia's northwest coast. So far half a dozen idyllic resorts have opened, divided between the flame-hued desert and the impossibly turquoise ocean, and whether you're looking to adventure or unwind, there are experiences for all travelling styles. Enjoy bedouin-inspired wellness and desert tranquillity at Six Senses Southern Dunes, or check in to one of the world's only Ritz-Carlton Reserve's at Nujuma, a private island that promises a deep connection to local history. Or there's the duo of new so-Instagrammable-they-could-be-AI resorts – Desert Rock and Shebara, each a feat of architecture and hospitality. Rates: From AED4,000 Remote wilderness in Rajasthan, India Flight time from Dubai: 3 hours to Delhi, 1 hour connecting to Jodphur The stay: Trade soaring city skyscrapers for stretching wilderness at SUJAN JAWAI, a breathtaking retreat backdropped by unspoiled natural beauty. Just 10 luxurious tents make up this sumptuous eco camp, where responsible luxury and sustainability come together to create a magical destination. Spend unforgettable days on wilderness adventures and tracking leopards, wake up to breakfasts in the bush, enjoy sunset yoga outdoors and dine on local flavours underthe starry night's sky. Rates: From AED6,210. Coastal culture in Athens, Greece Flight time from Dubai: 5 hours 10 minutes The stay: The alluring Athenian Riviera has been having a revival, and it's crown jewel is One&Only Aesthesis. A perfect blend of beach bliss and cultural immersion, guests can check-in to villas and bungalows reminiscent of sun-drenched days on the Greek Riviera in the 1960s. While it might not be balmy tan-topping weather, visiting the Grecian capital during shoulder season comes with the opportunity to enjoy bespoke tours without the crowds to Athens most iconic sites, or luxury sailing trips that take you along the craggy coastline. Rates: From AED2,723 A seaside escape in Sri Lanka Flight time from Dubai: 4 hours 30 minutes The stay: Sri Lanka is a popular travel destination for UAE residents, with its vast and varied topography providing the perfect backdrop for trips for friends, families and couples. Among its grand dames, Cape Weligama sits pretty on the palm tree-fringed shores of the South coast, and envelopes guests in oceanic-inspired activities, gourmet cuisine, and local culture. Check in to one of the clifftop villas, soak up the sun from the crescent-shaped infinity pool, and accept the call of the wild with whale watching and crocodile river cruises. Rates: From AED3,560 A rejuvenating wellness break in the Seychelles Flight time from Dubai: 4 hours 30 minutes The stay: Where the verdant jungle meets the pearly white beach sits Cheval Blanc Seychelles. A luxurious escape where natural beauty and thoughtful service perfectly pair, this resort was designed as the ultimate destination for total relaxation. Check in to one of the serene hillside or beachfront villas, and enjoy days spent immersed in nature. See the island from the skies in a private helicopter tour, take to the ocean for a romantic boat trip, or simply enjoy the spoils of the resort with pampering spa treatments tailored for complete mind, body and soul rejuvenation. Rates: From AED11,570 Images: Supplied
