The Prospector Square Lodge and Convention Center, a long-time Sundance Film Festival venue, has a new name: The Prospector.
The 10-acre property has nine buildings with over 110 rentable units and 10,000 square feet of meeting space including a tiered theater.
Originally built over 20 years ago, the property had fallen into disrepair even before its property manager went out of business in 2004. Robert Clarke, a member of the board of directors, said it was developing a negative reputation, so the homeowner association took control of management and has slowly been returning the campus to the level of quality Park City guests expect.
In 2009, the business began turning a profit again, so the association voted to plow money into physical improvements. It also hired local public relations expert Larry Feldman to help re-brand and market the property.
The icing on the cake, Clarke said, is that unit owners have been making major improvements of their own volition. Guests have been giving the units excellent reviews online.
The new name is easier to remember, Feldman said. With so many units boasting granite countertops, new appliances, flat-screen televisions and other amenities, The Prospector intends to cash in on word-of-mouth advertising and is already seeing more repeat business.
“It backs up to walking trails and Silver Creek. The property is very cool, very eclectic and lends itself to so many things,” Feldman said.
Right now the units are so affordable many people use them as their primary residence, Clarke said. Both Deer Valley Resort and Talisker purchased several for worker housing.
The end goal of the physical improvements and re-branding is to raise condominium values, so Clarke believes they’ve got one of the smartest investment opportunities in the city, he said.
State-of-the-art security cameras provide safety and peace of mind, he added.
Another goal is increasing meetings and convention business. The Prospector is usually busy in summer, and has been promoting artistic and educational events during the shoulder season.
If a client wants to host a dinner theater or a Fortune 500 company wants to hold a meeting, The Prospector can accommodate, Feldman said.
The meeting hall has nine “break-out” rooms and a board room in addition to the theater, said general manager John Sands. It’s already been popular with trade shows, he said.
And all of the improvements made for better security and Internet access, plus renovations finished in time for Sundance, are “the tip of the iceberg,” Feldman said.
The homeowner association has a master plan to make The Prospector highly competitive, Clarke added.
The property’s affordability helped its business increase while everyone else’s declined the previous two winters. Now that the economy is improving, the future is bright, he said.
“The vision is to be a boutique, eclectic hotel,” Feldman added. “We’re maintaining the roots of prospecting and mining while providing 2011 Park City lodging.”
The Prospector’s new website offering virtual tours of units is accessible at www.TheProspectorParkCity.com .
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