KSL Capital Partners to Invest $21 Million in W Maldives and Recommence Phased Renovation Project at Sheraton Maldives Full Moon Resort & Spa

Underscores Commitment to Investing in Exceptional Businesses, Expanding Tourism and Supporting Economic Growth in the Maldives

LONDON, Aug. 14, 2024 /PRNewswire/ -- KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses, today announced its affiliates will invest $21 million in the W Maldives to fully renovate the resort and plan to recommence capital spending at the Sheraton Maldives Full Moon Resort & Spa ("Sheraton Maldives") to continue investing in one of the most expansive luxury properties in the Maldives.

The $21 million investment will support a comprehensive renovation of the W Maldives that is designed to upgrade virtually all aspects of the resort. The renovation commenced earlier this year, and the W Maldives will remain temporarily closed to guests. It is expected to reopen in late 2024.

Located on the private island of Fesdu in North Ari Atoll, the W Maldives comprises a combination of 77 overwater or beach bungalows with private pools and direct beach or sea access. Guests of the W Maldives can enjoy the resort's six restaurants and bars, a world-class spa and snorkeling and diving at one of the best house reefs in the Maldives.

KSL suspended its capital spending plans at the Sheraton Maldives earlier this year and had been in discussions with the Government of Maldives about the future of the resort. Electing to move on from those discussions, KSL plans to recommence its phased capital improvement plan to maintain the Sheraton Maldives' leading reputation as one of the premier family resorts in the Maldives. 

The Sheraton Maldives is located on the private island of Furanafushi, a short speedboat ride from Velana International Airport. The 176-room resort features overwater bungalows, ocean view villas and cottages, many with private plunge pools. The Sheraton Maldives offers seven restaurants and bars, multiple fresh-water pools, a full-service spa, tennis facilities and the Sheraton Kids' Club.

"We're excited to move forward with our plans at the W Maldives and the Sheraton Maldives resorts, two exceptional properties that offer the best of the Maldives to travelers from around the globe," said Tina Yu, Partner at KSL Capital Partners. "We're confident that our continued investments will further elevate the unique and unforgettable guest experience these resorts offer, while also creating a positive impact in the local community. As part of KSL's mission to create enduring value, we remain steadfast in our commitment to the Maldives as one of the world's premier travel and leisure destinations and will continue to support the country's economic growth."

KSL acquired the W Maldives and Sheraton Maldives in June 2022. KSL is a significant investor in the Maldives with investments in six major hotels in the country, including the W Maldives, Sheraton Maldives, Soneva Fushi, Soneva Jani, the recently developed and opened Soneva Secrets and Outrigger Maafushivaru Resorts.

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. For more information, please visit www.kslcapital.com.

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SOURCE KSL Capital Partners