July 13, 2010
Virginia's Kingsmill Resort is getting a new owner.
Busch Properties announced on Monday that it has reached a deal to sell the Williamsburg resort to Denver-based Xanterra Parks & Resorts. The sale is expected to be completed by August. Terms of the deal weren't disclosed.
The deal includes Kingsmill's 422 rooms, a spa, six restaurants, a tennis center, a marina and three golf courses.
Busch Properties is a business unit of St. Louis-based Anheuser-Busch. It has been marketing the Kingsmill Resort since last September.
Xanterra is known primarily for operating concessions at national parks. It is a subsidiary of The Anschutz Company, a holding company started by Denver billionaire Philip Anschutz.
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