Denver-based private equity firm KSL Capital Partners has agreed to buy the legendary Grand Hotel on Mackinac Island from the Musser family that has owned the venerable landmark for more than 85 years. Terms of the deal were not disclosed.
Dan Musser III will remain chairman of the hotel, providing leadership and guidance to the KSL team, ensuring a seamless transition.
“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,” says Musser. “This is a role we have not taken lightly, nor was this decision to transfer ownership to KSL.
“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.”
The 397-room hotel, with its famed 660-foot long porch — the world’s longest — is a National Historic Landmark that overlooks the Straits of Mackinac and the Mackinac Bridge. Open from early May to late October each year, the Grand Hotel is getting ready to finish up 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,” says Michael Mohapp, a principal of KSL. “It is both a privilege and a great responsibility to take over ownership. 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 Davidson Hotels & Resorts, will be engaged to manage the property for KSL.
DBusiness magazine featured the Grand Hotel in 2018. Read the profile by Ilene Wolff here.