Utah

Why physicians are looking at Park City

Park City is Utah's top ski STR market, anchored by a concentration of draws no other US mountain town matches in this report: Sundance, Deer Valley, and Park City Mountain Resort. That triple anchor supports the strongest operating numbers in the entire batch — a $695 ADR at 74% occupancy — and a resale market with global buyer depth. This is the trophy tier: bought as much for long-term asset quality as for the income statement.

The numbers, interpreted

Roughly $695/night at 74% occupancy — about $514 RevPAR and $15,429/month in estimated gross revenue — against a $1,523,000 basis produces a 38.5× GRM and ~1.7% cap rate. Read those vitals together, the way you read a panel instead of a single lab: revenue is exceptional, yield is the thinnest in the report, and the two are consistent — the price already capitalizes the market's quality, so the return thesis is appreciation plus premium income, not cap rate. For perspective, Brian Head delivers ski economics at $325,000 and a ~3.0% cap, and Moab grosses ~$7,308/month at $635,000. Park City is what you buy after deciding you want the flagship, not the ratio.

Costs and rules to underwrite

Utah's 0.6% property tax runs roughly $9,140/yr on $1,523,000 — material in absolute dollars even at a low rate. The row lists Moderate Regs: verify local short-term-rental rules for the specific property and zone before closing; premium resort markets regulate deliberately, and permitted status is part of the asset's value. Underwrite luxury operations honestly — guest expectations at a $695 ADR carry costs to match.

Building your local team in Park City

At this tier, the local team will make or break the investment with larger numbers attached to every decision. You want luxury-grade STR management that protects review scores and rate integrity, a realtor who genuinely works the resort's investor segment — micro-position relative to lifts, venues, and villages moves both revenue and resale — and furnishing capital at the standard the ADR implies: even at the top end, guests compare side by side, and themed, amenity-rich properties out-earn generic luxury. Dr Home Investor introduces you to vetted local team members — including a Realtor match with boots on the ground in Park City — the caliber of bench a blind Google search cannot reliably surface in a market full of polished marketing.

Bottom line

Park City is the flagship of the Utah report: $1,523,000 in, ~$15,429/month gross potential, ~$514 RevPAR, and a Sundance-Deer Valley-PCMR anchor set that defines American ski STR demand. The ~1.7% cap says plainly that this is an asset-quality and appreciation play with premium income attached. For physicians allocating trophy capital, it is the state's definitive position. Explore other Utah markets for the accessible rungs below. Before committing, compare this market against the best real estate markets for physician investors.