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Developer Planning Luxury Resort in Utah

PARK CITY, UT-Stan Castleton, developer of the 1,572-room Anaheim Hilton, the second largest four-star hotel in California, is preparing to develop a five-star condo-hotel here, the place Ski magazine last month named the No. 1 resort in North America.

By Brian K. Miller | Updated on November 20, 2005

PARK CITY, UT-California developer Stan Castleton is close to breaking ground here for a five-star condo-hotel. Castleton tells GlobeSt.com that St. Regis Resort & Residences-Deer Crest will cost $240 million to develop and hopefully generate at least $260 million in sales.

The developer is DDRM Greatplace, a Castleton-owned development group and holding company with a portfolio of more than $2 billion in projects including 5,000 hotel rooms. Among other properties, DDRM developed and owns the 1,572-room Anaheim Hilton, the second largest four-star hotel in California.

The project will feature 26 private residences and 67 condominium hotel suites. The two- and three-bedroom condominium suites range between $1.55 million to $3.5 million, and the private residences range between $1.78 million to just over $5 million. The 67 two- and three-bedroom condominiums can be turned into 180 hotel rooms, says Castleton.

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