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The Hotel Employees Union Releases Report on Questionable Related Party Transactions At KSL Recreation Group.
Business Editors
OAKLAND, Calif.--(BUSINESS WIRE)--June 2, 2003
Today, the Hotel Employees & Restaurant Employees International Union (HERE) Local 2850 released a new report based on their research, "The Inside(r) Scoop: Related Party Transactions at KSL Recreation," to inform investors in KSL Recreation Group ("KSL") of "related party transactions" involving KSL, its Parent company KSL Recreation Corporation, and Kohlberg Kravis Roberts & Co. ("KKR") which controls both KSL and its Parent.
These transactions call into question the arms-length nature of business conducted among KSL and its affiliates, partners and principals. For example:
1) KSL President & CEO Mike Shannon and KSL Executive Vice
President Larry Lichliter bought residential homes from a
KSL subsidiary, whose President is Mr. Lichliter, and then
- KSL Recreation Purchases Grand Traverse Resort
- Press release article from: PR Newswire August 4, 1997 700+ words
...Calif., Aug. 4 /PRNewswire/ -- KSL Recreation Corporation announced today the purchase...signed for an undisclosed price between KSL Recreation and the City of Detroit General Retirement...Family Resort of the Year" Award. KSL Recreation Corporation, founded in 1992, has...
- KSL Recreation Corp. to Purchase Legendary La Costa Resort and Spa;...
- Press release article from: Business Wire November 7, 2001 700+ words
...BUSINESS WIRE)--Nov. 7, 2001 KSL Recreation Corp., owners and operators of a...Spa is the perfect addition to the KSL Recreation collection of distinctive resorts...transaction were not disclosed. About KSL Recreation Corp. KSL Recreation Corp. is a La...
- KSL Recreation Corporation Purchases The Claremont Resort & Spa.
- Press release article from: Business Wire April 7, 1998 700+ words
...BUSINESS WIRE)--April 7, 1998--KSL Recreation, owners and operators of La Quinta...club facilities and beauty services. KSL Recreation is a La Quinta, California-based...Course designed by Jack Nicklaus. KSL Recreation also owns KSL Fairways, a Manassas...
- KSL Recreation Selects AL&Z Advertising to Redesign PGA West(TM) Web Site.
- Press release article from: PR Newswire October 11, 2000 700+ words
...selected by La Quinta, Calif.-based KSL Recreation Corporation to design and launch a...founder of AL&Z Advertising." KSL Recreation Corporation is a great addition to...provided Web services for several other KSL Recreation Corporation Web sites. AL&...
- KSL Recreation Corporation Purchases Maui's Five-Diamond Grand Wailea Resort...
- Press release article from: PR Newswire November 16, 1998 700+ words
...Hawaii, Nov. 16 /PRNewswire/ -- KSL Recreation Corporation, owners and operators...executive officer of KSL announced today. KSL Recreation will purchase the luxurious 781 room...enhanced for generations to come." KSL Recreation is a La Quinta, California-based...
- Hotel Employees And Restaurant Employees Union Launches www.KSLWatch.Org To Aid...
- Press release article from: Business Wire March 20, 2002 700+ words
...providing the latest views and news on KSL Recreation, a Southern California-based hospitality...Florida, Michigan, and Georgia. KSL Recreation is a subsidiary of leveraged buyout...HERE represents employees at two KSL Recreation properties. "KSLwatch.org will...
- KSL Recreation Purchases Architectural Landmark Arizona Biltmore Resort & Spa.
- Press release article from: Business Wire December 22, 2000 700+ words
...BUSINESS WIRE)--Dec. 22, 2000 KSL Recreation Corp. ("KSL"), owners and operators...Biltmore is a perfect addition to the KSL Recreation collection of distinctive resorts...impressive 600 selections on the wine list. KSL Recreation Corp. is the La Quinta-based owner...
- KSL Recreation Corp. Adds Legendary La Costa Resort and Spa to Its Portfolio of...
- Press release article from: Business Wire November 16, 2001 700+ words
...DIEGO--(BUSINESS WIRE)--Nov. 16, 2001 KSL Recreation Corp., owners and operators of a number of...for the resort in the months ahead." About KSL Recreation Corp. KSL Recreation Corp. is a La Quinta, California-based...
- Paul Hazen Named To KSL Recreation Board of Directors.
- Press release article from: Business Wire November 8, 2001 700+ words
...BUSINESS WIRE)--Nov. 8, 2001 KSL Recreation Corp. today announced that Paul Hazen...Mike Shannon, chairman and CEO of KSL Recreation Corp., commented, "I am very pleased...of California (Berkeley) in 1964. KSL Recreation Corp. is the La Quinta, California...
- KSL Recreation Corporation Names Chief Financial Officer.
- Press release article from: Business Wire February 27, 2001 700+ words
...Business Editors LA QUINTA, Calif.--(BUSINESS WIRE)--Feb. 27, 2001 KSL Recreation Corporation has named Eric Resnick as Chief Financial Officer. KSL Recreation Corporation is a La Quinta, Calif.-based owner and operator of the La...
Source: HighBeam Research, The Hotel Employees Union Releases Report on Questionable Related...