KSL Recreation Corp., an expanding operator of luxury resorts and golf properties, on Friday said it had acquired the fabled La Costa Resort & Spa in Carlsbad, Calif.
The company declined to say how much it paid for the 400-acre resort known for hosting high-profile professional golf and tennis tournaments. KSL purchased La Costa from an affiliate of Sports Shinko, a Japanese owner of country clubs and resorts.
"It's a very, very high-end property," said Alan Reay, president of Atlas Hospitality Group, a hotel brokerage and consulting firm.
The acquisition is the most recent for KSL Recreation as it builds a chain of exclusive resort and golf properties nationwide. Some of the firm's other properties include the Grand Wailea Resort Hotel & Spa in Hawaii and La Quinta Resort & Club in Palm Springs. The firm, based in La Quinta, was formed in 1992 in affiliation with the investment firm Kohlberg Kravis Roberts & Co.
The La Costa purchase is part of the company's strategy to operate in most major resort areas, said Scott Dalecio, president of KSL's resort division. The company plans to launch major renovations of La Costa's 479 guest rooms, spa and public areas, he said. Ted Axe, who oversees KSL's Claremont Resort & Spa in Berkeley, has been named as general manager of La Costa.