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The Grand Hotel in Mackinac, one of Michigan's most famous landmarks, will soon have a new owner.

The Musser family, whose members have owned the hotel since 1933, announced Tuesday that they have a tentative deal to sell the 397-room Victorian-era hotel to a private equity firm called KSL Capital Partners. The hotel dates to 1887 and is famous for its sweeping 660-foot front porch, the longest in the world.

R.D. (Dan) Musser III will stay on as chairman of the hotel, "providing leadership and guidance to the team, ensuring a seamless transition," the announcement said. The deal is expected to close within 30 days. Terms of the sale were not announced.

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"It has truly been an honor and a privilege for my family to serve as steward of this incredible Michigan landmark for nearly nine decades," Musser said in a statement. "This is a role we have not taken lightly, nor was this decision to transfer ownership to KSL."

Under the Musser family's stewardship, the hotel expanded its season, grew from 200 rooms to 397 and underwent dramatic renovations that brightened the hotel's unremarkable interior and added touches of glamour, including suites honoring well-known figures including Napoleon Bonaparte, Jacqueline Kennedy Onassis and the late socialite and fashion designer Gloria Vanderbilt.

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