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Peeling back the corporate layers
HOT SPRINGS - In a sale finalized Dec. 26 last year, KSL Capital Partners, an investment group, acquired nearly all of Dallas-based Club Corp assets, which included The Homestead.
Club Corp had owned The Homestead since 1993, when it purchased the resort from the Ingalls family, and operated the 241-year-old landmark for 13 years, investing some $90 million in major renovations and additions.
KSL Capital Partners is affiliated with KSL Resorts, but is a separate company.
KSL Resorts operates some of the group's holdings, including two of the Club Corp resorts - The Homestead, and Barton Creek, a similar resort in Austin, Texas, and four others not affiliated with Club Corp.
New Homestead general manager Sean Maddock says KSL typically owns its resorts an average of six years, though that includes the recent Club Corp purchase, which brings the average down. Some resorts have been owned by KSL for more than a decade.
How long The Homestead will be held by KSL, Maddock said, has not been discussed.
- Anne Adams
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