A real estate private equity firm based in Tampa, Florida, announced today it purchased the Snow King Hotel, confirming rumors of a sale dating back to December.
The hotel now belongs to KDG Capital, according to a press release from Benchmark, the Texas-based global hospitality company that operates and markets the resort. KDG has plans for $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,” says Greg Ogle, Partner at KDG Capital LLC.
The firm has recently purchased other resorts around the country, including Cheyenne Mountain Resort in Colorado Springs, Colorado, and the Seaview Hotel and Golf Club in Galloway, New Jersey.
Benchmark will stay on at the 230-room resort, according to the press release.
“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."
Since 2012 the Snow King Hotel has been under the ownership of JMI Realty, a private real estate investment and development company based in San Diego. JMI purchased it from longtime owner Manuel Lopez.