Honolulu-based Outrigger Hotels and Resorts and its portfolio of 37 hotels, condominiums and vacation resort properties in Hawaii and across the Pacific is being sold to Colorado private equity firm KSL Capital Partners for an undisclosed amount, the two companies said.

Outrigger was founded by Roy and Estelle Kelley in 1947 and has been operated by the Kelley family ever since.

“Outrigger is a well-established, highly successful company that has built a unique portfolio of world-class hotels,” said Marty Newburger, partner at Denver-based KSL. “For nearly seven decades, the Outrigger team has been focused on providing authentic, localized experiences for guests in iconic resort destinations. We are excited to continue the strong tradition that the Kelley family has built.”

The transaction still needs shareholder approval and customary closing conditions.

Read more at the Denver Business Journal: http://bizj.us/1oxx0n

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