Zermatt Utah Resort & Spa
Condotel Property in the the Greater Park City Area Poised for Massive Growth
Marketing description
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The Zermatt Utah Resort & Spa represents a rare opportunity to purchase a Swiss inspired upscale resort and meeting & event center in Utah’s Heber Valley. Current ownership will also entertain JV proposals.
Set on approximately 17.6 acres, the Resort comprises a total of 455 potential lodging units, including both owned and unowned units (approximately 42% of the unowned units contribute to the rental pool subject to a management contract included in the sale), comprised of 158 hotel rooms, 229 condos & villas, and 68 units (Annex Building) that are framed but not finished. The owned units, upon completion of the Annex Building will total 217 and the unowned units that currently contribute to the rental pool total 99. Upon completion of the Annex Building, there will be 316 total rentable units.
The Property blends the charm of European architecture with the expansive infrastructure of a full-service destination resort. In addition to lodging, the Resort offers a vast array of amenities, including a full-service spa, several F&B offerings, and over 31,000 SF of meeting & event space. The Resort also features on-site geothermal water rights for the addition of soaking pools that would broaden its identity as destination hot springs experience. Ownership is in the process of perfecting the water for commercial soaking rights.
Anchored by the charming Swiss-themed town of Midway and the new Deer Valley East Village, the Heber Valley skirts the slopes of the Wasatch Mountain range from Sundance Mountain Resort in the south and west to Deer Valley East Village to the north. The Deer Valley Ski Resort is located six miles north of the Property, while Park City Mountain and Ski Resort is situated eight miles northwest.
The Property currently operates under the Trademark Collection by Wyndham flag, with Destination by Hyatt being offered as a conversion opportunity. This transition would enhance brand visibility, elevate service standards, and capture higher-rated transient and group demand. Offered unencumbered by management, the Property provides investors with full flexibility to implement new operational strategies, reposition branding, or pursue strategic affiliations in line with emerging market trends.
At current pricing guidance, the Resort is available well below replacement cost. Replicating a resort of this scale, with geothermal infrastructure, extensive conference amenities would require a prohibitive investment in today’s environment.
Investment highlights
Expansive Resort
The 17.6-acre Property features a mix of hotel rooms, luxury suites, and condominium-style villas inspired by Swiss alpine architecture, offering guests a blend of sophistication and adventure. Additionally, the Resort includes amenities like indoor and outdoor pools, a full-service spa, multiple dining options, 31,000 SF of meeting & event space, and a myriad of recreational facilities for year-round activities.
Upflagging Opportunity
The Property is currently branded as a Trademark Collection by Wyndham, but is positioned for a transition to the Destination by Hyatt brand, which emphasizes unique, immersive experiences in distinctive locations. This rebranding aligns with Hyatt's growth in lifestyle and resort properties, potentially enhancing its appeal through integration into the World of Hyatt loyalty program and elevated service standards.
Significant Renovation Upside
The Property has not been renovated since it was built 23 years ago. In conjunction with the change of flag, the Property will be fully renovated which will allow it to reach its maximum revenue potential within a high RevPAR market.
High RevPAR Market
The market benefits from strong demand in the Park City and Heber Valley area, with RevPARs of comparable hotels exceeding $300. High occupancy and premium pricing reflect the region's appeal as a hub for skiing, outdoor recreation, and conferences.
Proximity to Deer Valley East and Park City
Conveniently located just 10 minutes from the Deer Valley East Village expansion—a $500 million project adding 3,700 skiable acres, 16 new lifts, and a two-stage gondola for enhanced access—and 25 minutes from downtown Park City. This positions the property as an ideal base for exploring world-class skiing, with the expansion more than doubling Deer Valley's terrain to over 5,700 acres total, including new runs, parking, and amenities set to open progressively starting in the 2025/26 season. The Heber Valley's accessibility, only 45 minutes from Salt Lake City International Airport, further boosts its draw for visitors seeking alpine adventures.
Underutilized, Sizable Conference Space
The Property offers over 31,000 SF of meeting & event space capable of accommodating over 2,500 guests across 20 versatile rooms, including a 10,422-SF ballroom and multiple breakout areas. The Zermatt Utah Resort & Spa, along with The Chateaux Deer Valley, offer the same amount of space and are the largest meeting & event facilities in the region.
Offered Significantly Below Replacement Cost
At pricing guidance, the Resort is available well below replacement cost. Replicating a resort of this scale, with geothermal infrastructure, extensive conference amenities would require a prohibitive investment in today’s environment.
Unencumbered by Management
The property is offered without existing management encumbrances, providing buyers flexibility to implement their own operational strategies or partnerships.
Proposed Additional Amenities
The Property site features geothermal water, enabling the further development of a hot springs resort experience. With over 280 gallons per minute of available hot springs water, there are more than 20 proposed hot springs pools on site that will serve nightly guests in addition to generating additional day soaking revenue. The Property could also enhance its offerings with the addition of 27 pickleball courts, capitalizing on the sport’s status as the fastest growing in the U.S. Construction of a 90-space indoor parking garage would augment guest convenience with Utah’s variable weather.
2034 Olympic Games
The venue remains integral to Utah’s Olympic heritage and is slated to once again host events during the 2034 Olympic Games, reaffirming the region’s global visibility and investment in world-class recreation.
JV Opportunity
Current ownership will also entertain JV proposals.
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