{"id":5944,"date":"2016-05-24T08:42:44","date_gmt":"2016-05-24T14:42:44","guid":{"rendered":"http:\/\/www.parkrag.com\/?p=5944"},"modified":"2016-05-24T08:42:44","modified_gmt":"2016-05-24T14:42:44","slug":"four-seasons-coming-park-city","status":"publish","type":"post","link":"https:\/\/v2.parkrag.com\/index.php\/2016\/05\/24\/four-seasons-coming-park-city\/","title":{"rendered":"Four Seasons Resort coming to Park City area?"},"content":{"rendered":"

Just when you thought the Park City area was full of luxury, it appears more may be\u00a0heading our way.<\/p>\n

The Real Deal <\/a>is reporting that\u00a0Gary Burnett, one of the biggest names in New York real estate, is considering bringing a Four Seasons hotel to the Park City area. In 2015 he purchased 40 acres adjacent to Deer Valley and is reportedly in negotiations to buy 1,000 more acres in the area.<\/p>\n

Industry observers say that as people are getting priced out of markets like Jackson Hole, they are considering\u00a0secondary markets like Park\u00a0City. The development\u00a0has the approval for a hotel and up to 200 condos.<\/p>\n

It is always interesting to me that so many people are eager to put hotels near\u00a0Park City. This week the hotel occupancy rate is hovering at 16%. During Sundance we may reach near capacity but generally “good times” of year have our occupancy rate below 60%.<\/p>\n

Of course, just like the hotel<\/a>\u00a0under construction between\u00a0Highway 248 and Peace Trail, this hotel will likely be\u00a0in Wasatch County. That means any development and its tax dollars\u00a0are outside the control of Park City and Summit County. Although, I’d hazard a guess that visitors to a Four Seasons will make a stop or ten\u00a0in Park City during their stay. They’ll bring their cars, eat at Park City restaurants, ski a bit, maybe buy a fur or two on Main Street… and then head on back to the Four Seasons where they’ll pay their $10,000 bill at the end of the stay.<\/p>\n

Don’t get me wrong, I don’t begrudge Wasatch County too much or the developer if he\u00a0builds this. It’s just a reminder that the times-are-a-changing a bit. We’ve all heard that there is a massive amount of development approved (but unbuilt) right over the county line in Wasatch County. It makes our approved\u00a0but undeveloped land look like nothing. Given\u00a0that, it will be interesting to see what our leaders do as Park City’s resources are utilized but our share of the tax base likely isn’t proportionate to the impact. It’s not an easy problem to solve, but it is coming our way.<\/p>\n

I hope our leaders are up for the challenge.<\/p>\n

\"Map<\/a>

Map of land that could possible be used for a new Four Seasons. From The Real Deal.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Just when you thought the Park City area was full of luxury, it appears more may be\u00a0heading our way. The Real Deal is reporting…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[29],"tags":[],"_links":{"self":[{"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/posts\/5944"}],"collection":[{"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/comments?post=5944"}],"version-history":[{"count":0,"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/posts\/5944\/revisions"}],"wp:attachment":[{"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/media?parent=5944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/categories?post=5944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/v2.parkrag.com\/index.php\/wp-json\/wp\/v2\/tags?post=5944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}