KSL Capital Partners, a US-based private equity firm focused on travel and leisure investments, has acquired a majority interest in the Soneva Group, a pioneer in sustainable luxury hospitality.
The transaction follows KSL’s initial minority investment in Soneva in November 2019, with the firm exercising its rights to convert certain securities. The move deepens KSL’s backing of Soneva’s strategic direction and further aligns the two firms in the luxury experiential travel segment.
Founded in 1995, Soneva operates a portfolio of high-end eco-resorts in the Maldives, including Soneva Fushi, Soneva Jani, Soneva Secret, and the Soneva in Aqua yacht.
As part of the transaction, Neil Gallagher has been appointed Chief Executive Officer of Soneva. Gallagher brings over two decades of global hospitality leadership experience, with previous roles at Clermont Hotel Group, IHG Hotels & Resorts, and Marriott Vacation Club International, spanning the US, Europe, the Middle East, and the Caribbean.
The acquisition comes amid a period of strategic activity for KSL. Earlier this month, the firm acquired the JW Marriott Venice Resort & Spa from Aareal Bank Group, marking the inaugural equity investment from its European Capital Solutions platform, which targets premium urban and resort assets across Europe.
In a separate 2023 deal, a KSL affiliate also took a significant stake in Sereno Hotels, the ultra-luxury hospitality brand behind Il Sereno and Le Sereno, founded by the Contreras family in Italy. Financial terms of both transactions remain undisclosed.
