tl;dr – The planned Tapestry Collection property looked like it might be the savvy points and miles enthusiasts’ more affordable way to hit the slopes, but will it come to fruition?
This December, Hilton will welcome a new ski-in ski-out property in Park City, The 120-room Ascent Park City, Tapestry Collection by Hilton.
Or maybe not?
Reporting from the Salt Lake Tribune chronicles the continued delays in the opening of this property. Initially, the property was set to open between 2023 and 2024. That didn’t happen, and the hotel is currently projected for a December 2026 debut. However, several investors are skeptical of the property’s arrival, and at least one contractor on the development project is suing the developers for failure to pay.
From the article:
“A contractor says they haven’t been paid, and a would-be owner wants his six-figure deposit back, as a Park City condo-hotel initially slated to open two years ago remains under construction.
When Gabriel del Rio and his family put a deposit down on a condo at The Ascent Park City near the Frostwood Gondola, they were excited about adding another investment property to their portfolio, this one close to ski slopes and the two-week Sundance Film Festival.
“This looked like such a slam dunk,” del Rio said.
Four years later, Sundance just ended its run in Utah, but The Ascent has yet to open, missing multiple estimated opening dates. So del Rio is suing to get back the deposit of nearly $165,000.
Meanwhile, Quality Fire Protection – the company that installed sprinklers in the building – says it’s owed at least $104,000 from the general contractor on the project. The Utah-based contractor is suing to get paid and has put a construction lien on the property.”
Yikes.
In case ‘would-be owner’ isn’t clear, the Ascent project and its cross-the-street neighbor, the Waldorf Astoria Park City, have condo-hotel models.
They are owned and managed by the same developers – Wolfgramm.
For what it’s worth, renderings of the Ascent hotel, both from Hilton and from the greater Ascent Park City development project’s website, do make the promised property look quite inviting. And though I’m not a huge Colorado person, a points-friendly ski option is always fun. As a Tapestry Collection property, there could have been sneaky redemption value, especially if the property allowed for shared use of the Waldorf Astoria facilities, given the common management.
For now, though, this one looks like it could go either way. Given that Wolfgramm runs the Waldorf Astoria, there’s at least the track record that they’ll get this over the hump. I could totally see the property making it to market, eventually, but should delays extend even further past this year, good luck keeping the peace with a bunch of ‘would-be owners’ wondering what’s happened to their $150K.
Notably, Hilton announced plans for a distinct Waldorf Astoria in nearby Deer Valley (2028), and Hyatt is also growing its Colorado ski-friendly portfolio with the Andaz Heber Valley (2029).
