US real estate firm Wolfgramm Capital is to refurbish a Hilton Worldwide luxury hotel in Utah after taking ownership of the site.
The new proprietor of Waldorf Astoria Park City is intending to initiate a multi-million dollar project at the ski resort.
Next level enhancements
Koloa Wolfgramm, COO of Wolfgramm Capital, detailed: “We are enthusiastic about taking this hotel to the next level and intend to infuse approximately sixty million dollars into the property. We look forward to sharing more about these enhancements at a later date.
“Wolfgramm Capital is delighted to be working with Hilton, the current lodging unit owners, the HOA, and their asset manager, CooperWynn Capital, in this endeavour.”
First year purchase
Wolfgramm Capital has made this luxury hotel acquisition within its first year of business. The property was acquired off-market and as part of an all-cash deal. The hotel will continue to be managed by Hilton.
Situated at the base of Park City Mountain Resort, Waldorf Astoria Park City is Park City’s only luxury hotel with slope-side and ski in ski out access to the largest ski and snowboard resort in the US.
Existing resort
Opening in 2009, the resort’s authentic sense of place is reflected throughout the property from its distinct design aesthetic and locally-inspired food and beverage scene to its custom amenities, services and signature experiences.
Its 159 guestrooms and suites are appointed with custom furnishings, and for suites, top-of-the-line kitchens. Integral to the guest experience is the hotel’s 16,000 sq ft Waldorf Astoria Spa as well as the resort’s all-day dining signature restaurant and bar, Powder. Additionally, Waldorf Astoria Park City features intimate meeting and event space as well as an expansive outdoor patio with fire pits, a heated pool and jacuzzis.
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