Squaw Valley USA, the iconic Lake Tahoe-area ski resort that hosted the 1960 Winter Olympics, has been sold to KSL Capital Partners, a Colorado-based investment firm that is pledging to invest $50 million in improvements to the Northern California resort over the next five years.
KSL, owner of the Hotel del Coronado in San Diego; Barton Creek Resort in Austin, Texas; The Homestead in Hot Springs, Va.; and Vail Mountain Lodge in Vail, Colo. entered into an agreement to acquire the majority of the shares of the Squaw Valley Development Co., which includes the resort’s ski operations, the Village at Square Valley and related real estate holdings.
