PARK CITY, Utah, Sept. 6, 2022 /PRNewswire/ -- Wolfgramm Capital has acquired the Waldorf Astoria Park City hotel in Park City, Utah, according to Co-Founder and CEO of Wolfgramm Capital, Phil Wolfgramm. The property was acquired off-market and as part of an all-cash deal. Wolfgramm Capital impressively adds the luxury hotel to its portfolio within its first year of business. The luxury resort continues to be managed by Hilton.
Waldorf Astoria Park City is part of Waldorf Astoria Hotels & Resorts, one of Hilton's three distinct luxury brands. Situated at the base of Park City Mountain Resort, Waldorf Astoria Park City offers an ideal setting for an unforgettable luxury mountain vacation featuring spectacular views of the ski slopes and picturesque Wasatch Mountains. As Park City's only luxury hotel with slope-side and ski in ski out access to the largest ski and snowboard resort in the U.S, guests can discover all that the destination has to offer year-round from winter activities including skiing, snowshoeing and bobsledding to summer activities from fly fishing, biking, hiking and more.
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 array of signature experiences. Its guest rooms 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-square-foot award-winning 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.
"Wolfgramm Capital is delighted to be working with Hilton, the current lodging unit owners, the HOA, and their asset manager, CooperWynn Capital, in this endeavor. 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," said Koloa Wolfgramm, COO, Wolfgramm Capital.
Waldorf Astoria Park City has been a crowd favorite since its opening in 2009. Commensurate with the surrounding mountainside aesthetic, the luxury hotel provides authentic dining and lodging experiences unique to the bustling ski-town. Just a 10-minute drive from Park City's historic Main Street laden with shops, boutiques, art galleries and more than 60 bars and restaurants, it is also only 35 minutes from Salt Lake City International Airport.
Formed in 2021 by Phil Wolfgramm, Koloa Wolfgramm, and Russell Handy, the new private equity real estate firm has amassed an impressive 200-million-dollar asset portfolio in its first eight months. With decades of combined experience in operating hotels, asset managing luxury resorts, consulting in the real estate legal field, and managing funds in the private equity sector, the principals of Wolfgramm Capital are uniquely positioned to capitalize on their experience to take the Waldorf Astoria Park City to the next level.
For more information regarding Wolfgramm Capital, please visit https://www.wolfgramm.com/ or email [email protected]
SOURCE Wolfgramm Capital
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