One of the most anticipated moments of the winter occurred Friday morning when the ribbon was cut on the St. Regis Deer Crest hotel ushering in a new era in which Park City is expected to have a higher profile and greater exposure among the most wealthy vacationers from the Northeast.
Michael Zaccaro, managing partner of the ownership group Deer Crest Janna, said the vision for an internationally-recognized, five-star-brand hotel was inspired by the site itself.
Perched above and to the east of the base of Deer Valley Resort, the site is adjacent to one of the ski runs in the private community of Deer Crest. From below the site can only be seen from a particular angle near the south tip of Jordanelle Reservoir.
With ski-in, ski-out access, incredible views of the Wasatch Back, situated in one of Park City's most upscale communities adjacent to a resort repeatedly voted No. 1 in America by affluent skiers, something like a St. Regis was the only thing deserving of the site, Zaccaro explained Thursday.
The ownership group in conjunction with the developers, Stan Castleton and DDRM, chose Starwood Hotels' St. Regis brand because of the large and loyal following it has among elite travelers especially those in the Northeast.
General Manager Michael Hatzfeld said St. Regis is excited to be in Park City because being at the best addresses in the best destinations is core to its values. Deer Crest and Deer Valley is one of those addresses and Park City is one of those destinations.
The St. Regis in Aspen, Colo. has been "an iconic ski destination" for the company, but it isn't ski-in, ski-out.
Furthermore, the summer activities in Park City are superior to those in Aspen, he said.
"It's not just a focus on the three or four months of ski season, but the summer months can bring Fortune 500 companies to these destinations," he said.
So as not to overload Deer Crest with traffic, most guests and visitors are brought to the hotel by a funicular starting near the Deer Valley parking lot.
A gondola just wouldn't have done, Zaccaro said. The smooth, roomy and unique experience the funicular ride provides is the perfect introduction to the hotel. It was a focal point in the planning process, he said.
"It's not that much different than an elevator but far more spectacular," he said.
It is the first commercial funicular in the United States, holds 15 people plus luggage and is a 90 second ride that is touted as energy efficient. The views are expansive as well.
"Nothing else has the same impact," he said.
Zaccaro said the condominium-hotel industry was "given a black eye" by the start of the recession, but said the financial structure of the hotel is incredibly sound. The committed buyers are closing at a rate that has soothed fears, he explained.
At the ribbon cutting, Hatzfeld and Starwood senior vice president of operations Carla Murray both said they had been general managers at the Aspen location and both agreed St. Regis Deer Crest was "a little grander."
"This is by far the most spectacular and interesting (St. Regis) I've had the privilege to run in my career," Hatzfeld said.
"Count on us," Murray said during her remarks. "We plan to be an active member of this community."
Lt. Gov. Greg Bell addressed the crowd at Friday's ceremony and said he considered the hotel to be one of the country's most amazing structures. Conceptually, legally, financially and structurally it is a "remarkable" feat, he said, and called its completion despite the recession "miraculous."
As the hotel and its three competitors (Dakota Mountain Lodge, Stein Eriksen Lodge and The Montage) create more world-class amenities it will garner greater world-wide recognition, Zaccaro said adding, all four hotels are "looking forward to working with each other."
