JACKSON HOLE, WYO – Word got out last month that Snow King Resort Hotel had been sold when new general manager David Kingston leaked it during a Chamber of Commerce Business Over Breakfast on January 3. It has taken until now for the news to be made official.
KDG Capital, a Florida-based real estate private equity firm, has purchased the Snow King Resort Hotel. Benchmark, a global hospitality company, will continue to operate and market the 230-room property. KDG said it plans to invest $5 million in capital improvements to the property.
“We are excited to be a part of this iconic resort’s future and to contribute positively to the Jackson community,” commented Greg Ogle, Partner at KDG Capital LLC.
KDG Capital is a family office private equity firm based in Tampa, Florida, focused on acquiring and operating full service hospitality properties throughout the United States. Recent additional purchases include Cheyenne Mountain Resort in Colorado Springs, CO, and the Seaview Hotel and Golf Club in Galloway, NJ.
“We are very pleased and proud to continue our management of Snow King Resort Hotel, and excited to be working with KDG Capital on this venture,” said Benchmark’s CEO Alex Cabañas. “The resort holds a special place in the community and is an excellent example of our commitment to experiential travel.”
The general manager position has been a revolving door of sorts in recent years. John Santaniello was named by Benchmark as the new GM in May 2018. Before the year was out, Benchmark announced it was bringing on Kingston, who had run Hotel Terra (2012-2015) and Snake River Lodge and Spa (2010-2012) previously.
Snow has been owned by JMI Realty Partners IV, a real estate investment firm co-owned by former San Diego Padres owner John Moores. JMI purchased the hotel from Manuel Lopez in September 2012. The property has been on the block since at least September 2017.