Copyright Forbes
The world’s most valuable currency isn’t a luxury item—it’s a moment. As consumers shift their spending from things to experiences, KSL Capital Partners is shaping what the next chapter of travel will look like. With a portfolio that spans luxury resorts, wellness destinations, culinary concepts, and outdoor adventures, the firm is building a future where artificial intelligence and human hospitality work hand in hand. Kevin Neher, Partner and Head of Strategic Operations at KSL Capital Partners, frames the transformation with data and clarity. “While the goods economy is growing at about 6% annually, the experience economy is growing closer to 9%,” he says. “And within that growth, highly unique properties that deliver exceptional experiences are showing far less price elasticity. As AI makes it easier for consumers to discover these one-of-a-kind destinations, demand for distinctive travel will continue to accelerate.” This convergence—AI discovery, experiential demand, and human connection—isn’t just shaping KSL’s investment thesis. It’s defining the new travel economy. When AI Meets Travel Wanderlust Eric Resnick, CEO and Co-Founder of KSL Capital Partners, believes artificial intelligence is not just a digital assistant—it’s a demand amplifier. “AI is enabling increased demand because it removes friction,” he says. “It’s not just about helping travelers plan with ease—it’s about creating confidence that they’re making the right choice.” MORE FOR YOU Resnick compares the moment to an inflection point. “If the internet was innings one and two,” he says, “AI takes us straight to innings eight and nine—and at a much faster pace than we ever imagined.” Social media made travel aspirational; AI is making it actionable. “You see a photo of an overwater bungalow in the Maldives or a sunrise over Patagonia,” he explains. “That spark of inspiration becomes a plan when you can simply talk to an AI that behaves like your best friend—the best travel agent in the world—available 24/7, for free.” The missing link, he adds, is commerce integration. “We’re on the verge of a world where AI connects discovery, planning, and booking in one fluid motion,” Resnick says. “Imagine getting inspired, comparing destinations, and reserving your stay—all in a few taps.” The Next Frontier: From Search to Trust KSL’s portfolio is already seeing this future unfold. Neher points to Under Canvas, a luxury glamping company near America’s national parks. “Google Analytics only began breaking out ChatGPT as a referral source this January,” he says. “At that point, 0.06% of bookings came from ChatGPT. By September, that number was nearly 0.7%. We expect it could surpass 10% within the next year.” Early indications from KSL’s portfolio suggest that ChatGPT-driven bookings also convert at twice the rate of organic search. “That’s because these guests are more qualified,” Resnick explains. “AI allows them to research deeply and validate their decision. By the time they reach the booking stage, they’re ready to commit.” Neher believes this shift goes beyond efficiency. “Search was all about relevance—keywords, click-throughs, SEO. AI is about trust,” he says. “It’s learning from verified reviews, media coverage, and real-world performance. So now we’re training our marketers to think differently. It’s not SEO optimization anymore—it’s GAI optimization. Generative AI will only find you if you’ve built trust in the right places.” The implications are massive. “In industries like healthcare, brand.com traffic is already down 30%,” Neher adds. “People aren’t clicking links—they’re trusting AI summaries. The same thing will happen in travel. If you’re not optimizing for AI discovery, you risk becoming invisible.” Beauty, Wellness, and Adventure: The New Luxury Code Technology might be rewriting the rules of booking, but KSL’s investments remind us that what travelers ultimately seek is wonder. “We’re always looking for beautiful things to do in beautiful places,” says Neher. “It’s not just about having a great room anymore—the bar is much higher.” KSL’s portfolio includes destinations like Longitude 131°, a luxury camp overlooking Australia’s Uluru; Il Sereno, a modernist retreat on Lake Como; Soneva, a wellness-focused resort in the Maldives; and The Pig, a collection of countryside manors outside London that source nearly all ingredients from within 25 miles. “These properties aren’t just places to stay,” Neher says. “They’re immersive experiences grounded in culture, nature, and authenticity. Whether it’s incorporating indigenous art in Australia or farm-to-table dining in England, we’re creating spaces that feel personal and meaningful.” Wellness and longevity are particularly powerful growth drivers. “At Soneva, everything—from treatments to cuisine—is designed around holistic wellbeing,” Neher adds. “Guests want to leave feeling restored, not just rested.” The Psychology of Experience Resnick sees something deeper driving this momentum. “If you think about Maslow’s hierarchy of needs, the top of the pyramid is self-actualization,” he says. “We believe people find the best version of themselves when they’re traveling—on a hike, at the beach, on the slopes, or sharing a great meal with family and friends.” That insight, he argues, explains why experiences consistently outperform goods in consumer spending. “People want to feel healthier, more fulfilled, and more connected,” Resnick says. “And AI—like the internet before it—is simply making that pursuit more accessible.” He points to ski instructors at Deer Valley as a vivid metaphor. “They teach some of the world’s most accomplished individuals,” he says. “But once you’re on the mountain, titles disappear. People laugh, connect, and let their guard down. Travel brings out the best in people—and that’s what we’re ultimately in the business of delivering.” Scaling Service Without Losing Soul Even as AI reshapes planning, the magic of travel remains human. “At the end of the day, this industry is still about people,” Neher says. “We have more than 50,000 employees across our portfolio, and they’re the ones who create loyalty.” He recalls how staff at KSL’s Montego Bay resorts stayed through a rough storm week to care for guests who couldn’t leave. “That’s what people remember,” he says. “You can’t automate empathy.” Delivering “insane service at scale,” as Neher describes it, is a constant focus. Training, culture, and community investment are central. “Scaling service without losing soul—that’s the hardest and most important thing we do,” he says. Resnick agrees. “Technology can enable access and ease,” he says, “but it’s the human connection that creates loyalty.” Travel AI and Empathy Converge In The Near Future KSL’s philosophy offers a blueprint for the next phase of hospitality: a world where intelligence and intuition coexist. AI may drive discovery and streamline booking, but the emotional heart of travel—the human connection—remains irreplaceable. “AI is like the internet on steroids,” Resnick says. “It’s going to make it easier for people to explore the world. But what they remember won’t be the algorithm—it’ll be how they felt.” In a world increasingly defined by automation, KSL’s approach is a reminder that the future of travel isn’t just smart—it’s soulful.
