PARK CITY, Utah — On Tuesday, Wolfgramm Capital reported in a press release that it has acquired the Waldorf Astoria Park City (WAPC) according to Co-Founder and CEO of Wolfgramm Capital, Phil Wolfgramm. The property was acquired off-market, and an all-cash deal. Wolfgramm Capital is only in its first year of business, and in the last year as added over $200 million in investments to its portfolio. The company will own the property, however it will continue to be managed by Hilton.
“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 in the release.
WAPC is part of Waldorf Astoria Hotels & Resorts, one of Hilton’s three distinct luxury brands. Situated at the base of Park City Mountain Resort, it is Park City’s only luxury hotel with slope-side, ski in ski out access to the largest ski and snowboard resort in the U.S.
The hotel also boasts a 16,000-square-foot spa as well as restaurant and bar, Powder. Additionally, WAPC features intimate meeting and event space.
Just a 10-minute drive from Park City’s historic Main Street, it is also only 35 minutes from Salt Lake City International Airport.