Newpark Resort acquired by local entrepreneurs
June 14, 2013
Chris Eggleton and Chris Retzer, two local entrepreneurs who have worked a combined 18 years on the evolution of Newpark, have acquired Newpark Resort Management, LLC, the property management company for the Newpark Town Center and Newpark Resort & Hotel located in the Kimball Junction area of Park City.
With an optimistic outlook and successful track record, Eggleton and Retzer purchased the company from longtime Park City residents and business professionals Jim Doilney, Rob Slettom, Donna VanBuren and Marc Wangsgard, who founded Newpark Resort Management, LLC in 2005 to manage the first boutique resort property in Kimball Junction.
Doilney and Wangsgard, the master developers of Newpark Town Center, have built and sold more than 1,000 residential units in Park City.
Slettom founded Identity Properties in 1980, managing nightly rentals for nearly 200 Park City condominiums.
VanBuren is Founder and President of Greater Park City Properties, which represents more than 1,200 Park City homeowners in association management.
All four sellers have been employers and professional mentors to Eggleton and Retzer. Retzer worked under Doilney and Wangsgard in the real estate development of Newpark, spearheading public approvals and entitlements, project forecasting and financing, condo sales, retail leasing, and retail management.
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Slettom and VanBuren hired Eggleton as their general manager, where he created the Newpark Resort brand, established the hotel and resort operations, and launched Newpark community events, including the Free Thursday Night Summer Concert Series.
"Being so deeply connected to Newpark’s planning, development and operations was an amazing jumpstart to our careers. We’ve learned and accomplished a tremendous amount," Retzer said. "The acquisition of Newpark Resort is our first step in leveraging our experience to pursue new opportunities in property management and real estate development."
"We’ve been contemplating a business partnership for almost 15 years and finally becoming business partners adds an exciting dimension to our long friendship," Eggleton said. "We will continue to perfect our customer service and operating efficiencies, and we’ll hopefully extend those strengths into new revenue sources and improved profitability."
Newpark Resort Management is a full-service property management company with operations in condo-hotel, meeting and conference, owner associations, and retail shopping centers. It employs 35 full-time staff members and maintains 24-hour, on-site staffing to meet the administrative, fiscal, maintenance, and visitor demands of Newpark Town Center. Its expertise in hotel operations and customer service has consistently earned a Trip Advisor Top-10 ranking and two consecutive Certificate of Excellence awards.
Newpark Resort Management’s acquisition was facilitated with the help of Becky Kearns and Stacey Mackay of Zions Bank Resort Banking.