A Park City hotel that became the center of a development dispute with the city in 2024 and 2025 is under new ownership, Summit County property records show.
A filing with Summit County indicates the former ownership, a Chicago firm, transferred the property to a business entity named Park City Yarrow Owner LLC in mid-December.
Park City Yarrow Owner LLC’s North Carolina address is care of Barings LLC. Barings is a multinational asset management firm.
A separate filing shows Park City Yarrow Owner LLC received a loan of up to just over $38 million related to the transaction. The figure does not necessarily reflect the sale price.
The stalwart DoubleTree by Hilton Hotel Park City – The Yarrow is located off the intersection of Park Avenue and Kearns Boulevard.
The development dispute centered on a concept to remake the location with a condominium-hotel and restricted affordable residential units. The height of the concept was a key sticking point with the Park City Planning Commission. The highly visible location made the talks even more difficult.
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