Local Area And Real Estate News

             The Escala Lodges at Canyons Resort in Park City, Utah is set to become the newest Hyatt ski property.             Hyatt hotels, which manage ski properties in Beaver Creek, Co, Breckinridge, Co and the Lake Tahoe, CA areas will take over management of the Escala Lodges the week of Thanksgiving.             With Canyons set to open for the 2010-2011 ski and snowboard season on Friday Nov. 26^th, Hyatt joins the Waldorf Astoria, St. Regis, and Montage hotels as big name luxury brands in Park City, UT.             While the Escala Lodge development is only 2 years old, the Hyatt has plans for renovations to meeting spaces and the completion of the restaurant and bar amenities at the condominium-hotel. Escala is located at Canyons main base area and is considered ski-in/ski-out via the Sunrise lift.             Since completion, sales of the 85 condominiums which can be configured into 178 rooms have been slow. Only 30 individual units have been sold with most of those going to contract well before the project completion. Current offerings real estate at The Hyatt Escala Lodges range from one bedroom 680 square foot models at $550,000 to 2800 square foot 4 bedroom 5 bath models offered in the $2 million range.             Sales of condominium-hotel developments in Park City have been tough since the change in the economy and products like these that have not adjusted prices are finding buyers to be increasingly scarce. The change to the Hyatt management may help future rental revenue, in turn making realty purchases at Escala a better investment.             As with all Park City Real Estate opportunities, the YouInParkCity.com Group of Keller Williams Park City Real Estate encourages you to buy for the lifestyle that Park City has to offer. Consider Escala Lodges in terms of its slope-side location within a destination resort (Canyons, Park City) whose owners (Talisker) are spending over $50 million in upgrades this year coupled with the name recognition and service standards associated with the Hyatt name.             For more information and assistance in purchasing real estate in Park City, UT contact a realty professional with YouInParkCity.com.