Slamdance sees future at Park City inn
Property could be sold, but festival wants to remain
January 20, 2017
The Park City couple that largely controls the Treasure Mountain Inn on Main Street is considering selling the assets, a move that would alter the ownership picture along the shopping, dining and entertainment strip as well as bring change to the longtime home of the Slamdance Film Festival.
Andy Beerman and his wife, Thea Leonard, own approximately 30 percent of the overall property between their residential and commercial holdings. They also own the property-management firm that operates the Treasure Mountain Inn. They pieced together their holdings over the years starting in the 1990s.
Beerman, who is a member of the Park City Council, said in an interview it is unclear what sort of deal could be finalized. He said, perhaps, the couple could sell the management company but keep some or all of the residential and commercial units. Beerman said there are current negotiations with several undisclosed parties about a sale. He declined to discuss the details or a potential timeline.
A sale of the property-management firm and the units themselves would be a significant transaction along Main Street. The Treasure Mountain Inn, located toward the southern end of the street, is among the largest buildings on Main Street and one of the prominent lodging properties there. The Treasure Mountain Inn, meanwhile, has been widely lauded for its wide-ranging environmental programs. A deal would also continue a significant realignment of the ownership on Main Street that has occurred since the recession.
The Treasure Mountain Inn is especially notable during film-festival week as the home of Slamdance, an event that is held annually alongside the Sundance Film Festival and has grown in stature over the past 23 years. Slamdance has been held at the Treasure Mountain Inn since 1997. It remains a low-key affair compared to the hubbub of surrounding Sundance.
Beerman said the 2017 edition of Slamdance is the final one covered under a multiyear contract between the organizers and the Treasure Mountain Inn. The two sides said early in the week they anticipate another agreement can be reached keeping Slamdance at the Treasure Mountain Inn. The discussions have begun, Beerman said.
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"It's likely we can work out a new contract," he said.
Slamdance in the 20 years since it moved the festival to the Treasure Mountain Inn has enjoyed broad success, attracting larger crowds over the years as filmmakers and fans look for an alternate to Sundance. Slamdance opened on Friday and is scheduled to continue until Thursday.
Peter Baxter, the president of Slamdance and a co-founder of the festival, said it is hoped the event will remain at the Treasure Mountain Inn on a long-term basis. He said Beerman and Leonard have helped as Slamdance grew in prominence.
Baxter said the Treasure Mountain Inn's close quarters ensure the audience and film industry mix. The property offers an "intimate, communal" experience, he said. There are two screening rooms and other rooms are used for programs and office space.
"We do see Treasure Mountain Inn as our home. It's been our home for many years," Baxter said, adding, "It's a special place for us."