Denver-based KSL Capital Partners LLC has reached a deal in which an affiliate of KSL will acquire the Grand Hotel from the Musser family, whose legacy with the hotel dates back over 85 years. Dan Musser III will remain chairman, providing leadership and guidance to the team, ensuring a seamless transition. Terms of the transaction will not be disclosed. The transaction is expected to close within the next 30 days.
“It has truly been an honor and a privilege for my family to serve as steward of this incredible Michigan landmark for nearly nine decades. This is a role we have not taken lightly, nor was this decision to transfer ownership to KSL,” Musser said in a statement. “KSL is a seasoned investor in travel and leisure businesses, with a depth of resources and capabilities to provide exceptional service. KSL has owned and operated some of the most prestigious destinations in the world, and we are pleased that they will help preserve the history and heritage of Grand Hotel.”
Located on Michigan’s historic Mackinac Island, the 397-room hotel, with its famed 660-foot long porch — the world’s longest porch — is a National Historic Landmark that overlooks the Straits of Mackinac and the Mackinac Bridge. Guests arrive on the motorized-vehicle free island by ferry or airplane and are transported to the hotel by horse and carriage. Open from early May to late October each year, Grand Hotel is currently in its 133rd season.
“KSL understands the importance of Grand Hotel to Mackinac Island, the state of Michigan and beyond, as well as its history, charm and traditions. It is both a privilege and a great responsibility to take over ownership,” KSL Principal Michael Mohapp said in a statement. “We are grateful for the trust that the Musser family has placed upon us, and for Dan’s continued guidance that will help ensure that Grand Hotel remains a driving force in drawing visitors to Mackinac Island as it has for generations.”
Pivot Hotels & Resorts, the lifestyle and luxury operating division of Atlanta-based Davidson Hotels & Resorts, will be engaged to manage the property for KSL.