Expanding its executive team, KSL Resorts has promoted Michael Palmeri to chief investment officer. Previously the company’s senior vice president of investments and business development, Palmeri will continue to direct KSL Resorts’ investments and business development division with an expanded focus on diversifying the company’s owned hospitality real estate and management portfolio into derivative leisure-oriented real estate and operating businesses.
According to Scott Dalecio, president and chief executive officer of KSL Resorts – which invests in and manages world-class destination resorts, hotels and high adventure experiences – Palmeri will be instrumental in the ongoing growth of the company’s expanding portfolio.
“Michael joined KSL Resorts five years ago to head up our investments and business development division and since then has worked diligently and collaboratively to grow our company, as well as improve our systems and processes,” Dalecio said. “We are thrilled he will play a larger role in the continued and fast-moving growth of KSL Resorts.”
“I love being part of such a strong, talent-based organization and thrilled I was recruited from within the organization. I’m looking forward to this new, expanded position helping grow KSL Resorts’ investment portfolio with more and more interesting and diverse hospitality entities,” said Palmeri.
Prior to joining KSL Resorts, Palmeri was a senior vice president, head of acquisitions and development for Loews Hotels. With more than 25 years of hospitality experience, he has also held senior leadership roles directing investments and management for Chartres Lodging Group and Abacus Lodging Investors.
He holds a Bachelor of Science degree from Cornell University.