Premier Resorts in Sun Valley passes torch to Hawaii company
September 25, 2009
Condominium owners and homeowner associations managed by Premier Resorts in Sun Valley were notified this week that Hawaii-based Aston Hotels and Resorts will take over operations beginning Oct. 1.
No one from Premier Resorts International (PRI) immediately returned messages seeking comment. It is unclear the relationship between Aston and Premier, nor the nature of the transfer.
Sun Valley condo owners were asked by Premier Resorts Sun Valley to sign an interim rental agreement with Aston to allow the company to continue normal service through Dec. 31 of this year.
Premier Resorts announced it will discontinue nightly rental operations in Sun Valley effective Sept. 30.
A representative for Premier Resorts Sun Valley said the company is current on rental-revenue checks to homeowners as of this week. He also said the nearly 30 members of his staff will continue working at their jobs for the new company.
Part of the interim agreement is that "owner and agent agree to work cooperatively and in good faith to agree upon terms of a mutually acceptable nature for the long-term performance of rental management services for the unit by agent."
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The letter to owners from Aston states, "We understand that this decision comes rather suddenly; however, the president of PRI, Barbara Zimonja, had the foresight to seek out a management company that she could confidently recommend to you to operate the rental program in Sun Valley." Zimonja is a Park City resident.
The introductory email to the letter, from Leah Salmon, front-office manager for Premier Resorts Sun Valley, reads, "I feel that Aston is a good fit and we are looking forward to being a part of such a diverse and strong company." It invites owners with questions to contact her or Ed Lind at 208-727-4014.
A company representative said he believes homeowners and their associations will notice little change in service.
Premier Resorts Sun Valley manages 100 condominiums units and 32 homeowner associations in central Idaho and is among the top five largest in that community.
Premier Resorts of Utah (PRU), the local affiliate of Premier Resorts International (both based in Park City), announced last spring it could not pay condominium owners their share of January and February rental revenues. That announcement sparked a chain of events that led to PRU declaring bankruptcy.
Money brought in by PRU was spent by PRI, and attorneys are now tracking down where it went. This month PRI announced to clients in South Carolina that it could not pay them rental profits for July and August.
This new move in Idaho is believed by many to be part of a larger reaction to the Utah bankruptcy.