The Ledger
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Resnick: KSL is the largest private travel and leisure investor
“We're one of the only groups that focuses on it at scale. I think we're the largest private investor and travel and leisure businesses in the world.”
Resnick on how KSL created the Ikon Pass via massive resort consolidation
“And we had the idea of basically taking what were then, I think, 15 or 16 ski resorts that we had owned, that we bought through five or six different transactions, merged them together, and started with that core at Uculus. And from there, we partnered with an…”
Resnick: Major hotel chains have shifted from property management to franchising
“The hotel companies themselves have evolved. They started off as hotel owners, like Marriott and Hilton and so forth. First, they were hotel owners. Then they were managing hotels for third parties. Then they really became franchisors. They have wonderfully po…”
Resnick: Travel and leisure accounts for about 11% of global GDP
“It's the third largest sector of the global economy. It's about 11% of global GDP and employment, both.”
Resnick: US travel spending has grown 7% annually since 1960
“Since 1960, travel and leisure spending in the U.S. Has grown by about seven percent per year, more than double that of GDP.”
Resnick: Ancillaries drive up to 70% of resort revenue, unlike urban hotels
“Someone who tends to look at urban hotels, 80% plus of the revenue, maybe even 90% is coming from the hotel room rate. You go into the resort world, perhaps 30%, 40% of the revenue is coming from the hotel room rate. All the other revenue comes from everything…”