PARK CITY, Utah, Jan. 26, 2015 /PRNewswire/ -- Sunrise Holdings, LLC ("Sunrise") in partnership with Lantern Asset Management and Resort Finance America, today announced it has acquired Hyatt Escala Lodge located in Park City, Utah. Hyatt Escala Lodge is an AAA Four Diamond, ski-in/out, luxury mountain resort located within the mountainside village of Canyons Resort. The property is an 85 unit / 177 key condo hotel adjacent to Sunrise's existing investment, Sunrise Lodge by Hilton Grand Vacations. Berkshire Hathaway HomeServices Utah Properties ("Utah Properties") has been engaged as the exclusive real estate broker for the residential condominiums at Hyatt Escala Lodge. Tyler Richardson and Peggy Marty will lead the Utah Properties team of agents and act as the primary sales agent.
Resort Finance America President, William T. Phillips said, "We are delighted to announce the acquisition of Hyatt Escala Lodge as the latest addition to our mixed-use resort portfolio and second acquisition in the Park City market. Hyatt Escala Lodge is a high-quality, well-managed property in a fantastic location. Park City has been a very good market for us, and the recent announcements regarding Vail Resorts' management of Canyons Resort, their purchase of Park City Mountain Resort, and their decision to link the two resorts for the winter 2015-2016 ski season make us even more excited about continued growth for the Park City market. We are equally excited to add two new world class operating partners to our business—Hyatt Hotels Corporation who will continue to manage and operate the hotel and Berkshire Hathaway Home Services Utah Properties as the exclusive sales and marketing agent for the residential condominiums at the property."
Developed in 2009, the luxury, ski-in/ski-out Hyatt Escala Lodge provides owners and guests with a modern ski lodge feel and a variety of amenities, including the Escala Provisions Company gourmet restaurant, ski valet, 7,000 square feet of indoor and 4,000 of outdoor conference / meeting space, heated outdoor pool/spa, fitness center and business center. The proximity to ski lifts and other amenities within the Canyons Resort, coupled with the magnificent views of the Park City landscape and close proximity to the Salt Lake City International Airport makes it an ideal, year-round vacation destination. An attractive mix of one, two, three and four bedroom condominiums with gracious living spaces are available through Berkshire Hathaway Home Services Utah Properties.
In a statement, Steve Roney, Owner and CEO of Berkshire Hathaway Home Services Utah Properties shared, "We are thrilled to represent the prestigious Hyatt Escala Lodge, which is known for its world class amenities and luxury setting. The Hyatt brand carries weight around the world and in our market place, and we look forward to working with such a respected company. As Park City's largest development brokerage, we feel certain this will be a highly successful partnership."
The term "Hyatt" is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more affiliates.
About Resort Finance America, LLC
Resort Finance America is an owner and manager of mixed use resort properties with resorts in Las Vegas, Park City, and Kapalua.
About Lantern Asset Management, LLC
Lantern Asset Management, headquartered in Dallas, Texas is a full-service asset management firm building value through origination, underwriting, acquisition and improving the performance of operating assets and related investments.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™, Hyatt Ziva™, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of September 30, 2014, the Company's worldwide portfolio consisted of 573 properties in 48 countries. For more information, please visit www.hyatt.com.
About Berkshire Hathaway HomeServices Utah Properties
Berkshire Hathaway HomeServices Utah Properties is an independently owned full-service brokerage with offices throughout Park City and a long-standing track record of market dominance and dependability.
**Residential Condo Sales Disclosures:
Hyatt has granted Sunrise Holdings, LLC the right to market and sell units at Hyatt Escala Lodge under the Hyatt trade names and marks pursuant to a Marketing License Agreement. The trademark Hyatt and related marks are trademarks of Hyatt Corporation. All rights reserved. This is neither an offer to sell nor a solicitation to buy to residents in any state in which registration requirements have not been met. VOID WHERE PROHIBITED BY LAW.
SOURCE Sunrise Holdings, LLC