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Grove Park Inn being sold to private equity firm

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ASHEVILLE, NC (AP) -- The Grove Park Inn Resort & Spa in Asheville is being sold to a private equity company that plans a $25 million renovation as part of the resort's 100th anniversary next year.

KSL Capital Partners LLC said Tuesday it has agreed to acquire the historic inn from an affiliate of Sammons Enterprises Inc. KSL is a private equity firm specializing in travel and leisure. It has offices in Denver and New York.

The Sammons family has owned the Grove Park Inn for nearly 60 years. The sale price wasn't disclosed.

The Grove Park is built of granite stones and overlooks the city of Asheville. Famous guests include author F. Scott Fitzgerald and William Jennings Bryan, who delivered the keynote address at the inn's opening in 1913.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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