Wolfgramm Capital, a Shreveport, Louisiana, private equity firm that specializes in hospitality properties, has purchased the Waldorf Astoria Park City. hotel in Park City, according to co-Founder and CEO of Wolfgramm Capital, Phil Wolfgramm. The property was acquired off-market and as part of an all-cash deal, Wolfgramm said. The resort will continue to be managed by Hilton.
Waldorf Astoria Park City is part of Waldorf Astoria Hotels & Resorts, one of Hilton’s three luxury brands. Opened in 2009, the luxury hotel features slope-side and ski-in/ski-out access to Park City Mountain Resort, a 16,000-square-foot Waldorf Astoria Spa and Powder, an all-day restaurant and bar.
“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 $60 million into the property. We look forward to sharing more about these enhancements at a later date,” said Koloa Wolfgramm, chief operating office at Wolfgramm Capital.