WILLIAMSBURG Kingsmill Resort and Spaisbeing sold to a Denver-based parks and resort company.
'Since first announcing our intent to sell Kingsmill, our goal has been to find a buyer that will enhance the long-term value of the resort and maintain the Kingsmill assets as a premier resort property,' said Michael Taylor, president of Busch Properties, Inc.
Kingsmill Resort & Spa includes 422 rooms,six restaurants,a 16,991-square-foot conference center,full-service spa and fitness center, marina.a 15-court tennis center and it's golf course that's hosted PGAand LPGAevents.
Thedeal should be completed by August.
'We place great value in the employees, condominium owners, members and the resort's other tremendous assets and look forward to being part of this prestigious property,' saidAndrew Todd, Xanterra president and CEO.
Xanterra began looking at Kingsmill in September 2009.
The companyis the largest concessioner within the country's national parks and a leader in the hospitality industry, managing resorts, lodges, restaurants, gift shops, tours and activities in national parks, state parks and destination resorts, according to the company. It operates concessions in the Grand Canyon, Yellowstone, Zion, Crater Lake, Death Valley, Rocky Mountain and Petrified Forest National Parks and Mount Rushmore National Memorial, among other locations.