The Travel Investor Who Knows Attention Is the Real Currency

For more than three decades, KSL Capital Partners has invested exclusively in travel and leisure, deploying more than $25 billion across approximately 200 investments. With three synergistic strategies – Equity, Credit and Tactical Opportunities – and a global team of 125+ professionals, KSL has a uniquely integrated investment platform.

The firm was founded by investment professionals who were operators first, and that operational perspective remains embedded in its DNA. KSL focuses on performance, partnership and long-term value creation – backing exceptional businesses and management teams across the world to help them grow, evolve and deliver unforgettable guest experiences.

Through cycles and downturns, one truth endures: global consumers consistently prioritize experiences.

Travel has shifted from discretionary to identity-defining. People increasingly express who they are through where they go and what they do. That elevates experiences from “nice to have” to “non-negotiable.”

The data backs it up: travel has compounded at ~7% annually for over 60 years – outpacing global GDP by nearly 2x. It now represents the third-largest component of U.S. consumer spend and nearly 10% of global GDP. For the first time in over 25 years, demand is projected to outpace supply – driven by constrained willingness for new developments in resort markets, rising construction costs and a secular shift of consumers consistently prioritizing experiences over material goods.

For investors, the implication is clear: durable value resides in businesses that capture attention and convert it into pricing power. For operators, it means delivering experiences that are not only memorable, but meaningful. We see this shift playing out across our global portfolio. At Baillie Lodges, for example, demand for remote, design-forward properties has remained resilient – even in periods of broader volatility – because travelers are seeking meaning, not just amenities.

Our edge is focus, discipline and our more than 30 years of experience. We’re not generalists but instead anchored exclusively in Travel & Leisure. We’ve spent these 30+ years building pattern recognition across lodging, resorts, wellness, recreation and clubs. That specialization shows up in how we evaluate opportunities, support operators and scale platforms.

Our complementary Equity, Credit and Tactical Opportunities strategies give us flexibility across the capital stack and a real-time view of market dynamics. Each strategy informs the others, creating a feedback loop of deal flow, diligence and operating insights.

We also bring a consistent value creation playbook, focused on pricing, labor, brand and the guest experience. Across the portfolio, we focus on unlocking operational upside and scaling what works – whether that’s expanding a platform or improving the guest journey. For example, at Heritage Golf Group, we supported the growth of a regional club operator into a national platform with a differentiated membership model that gives more access and flexibility, in turn enhancing both value and loyalty.

But it’s not one-size-fits-all. We partner with the world’s highest-quality operators to deliver deeply personalized, emotionally resilient experiences. That’s not just a thesis – it’s visible in the results.

The next decade will reward businesses that move beyond being chosen to being preferred – where guests actively select them, even at a premium. Alpha will come from:

• Brands with emotional resonance: memory, trust and meaning as durable moats.
• Leaders expanding into adjacencies: wellness, family, culinary and adventure – done with discipline to strengthen, not dilute, brand equity.
• Platforms that compound demand: ecosystems where experiences reinforce each other and guest loyalty becomes self-sustaining.

We also believe alpha will come from businesses that engage with travelers across multiple touchpoints – lodging, F&B, wellness, recreation – and from platforms that scale without losing their soul.

The through line is simple: attention that compounds convert into economics. That shows up as stronger repeat behavior, healthier rate structures and steadier performance in soft periods.

Travel’s growth is secular; attention is scarce. The businesses that earn and hold it will create enduring value. KSL’s role is to identify them early, provide the right capital, governance and support – and partner with them to drive thoughtful, sustainable growth, with the traveler at the center.

Eric Resnick’s track record with KSL Capital Partners shows a conviction that experiences outlast trends and that authentic engagement creates lasting value.

His perspective will illuminate where the industry’s resilience meets its next chapter. Expect insights on how attention has become the rarest resource, how personalization fuels loyalty, and how travel companies can lead in uncertain times.

Join us at the Skift Global Forum to hear his vision and secure a front-row seat to travel’s future.