(DENVER, CO) -- KSL Capital Partners, LLC has agreed to acquire the historic Grove Park Inn Resort & Spa from an affiliate of Sammons Enterprises, Inc. The iconic 512-room getaway nestled between the majestic Blue Ridge and Great Smoky Mountains in Asheville has been owned and operated by the Sammons family for nearly 60 years.

As part of the resort’s Centennial celebration in 2013, KSL Capital Partners is planning an extensive $25 million renovation of the resort’s public areas, guest rooms, dining outlets, meeting spaces and spa that will honor the historic style of the resort while enhancing the guest experience.

“The Grove Park Inn has a deep and storied past and we understand the importance of honoring the history of the property while providing the next level of service and amenities that today’s guests demand,” said Marty Newburger, a principal of KSL Capital Partners. “We believe the experience KSL Resorts has in managing properties like The Grove Park Inn partnered with our planned capital improvement program will bring a further level of luxury, service and amenities for our guests and the community to enjoy.”

The agreed selling price was not disclosed.  The deal is expected to close in the next 30 days.