Reef Capital Partners is expanding its partnership with hospitality management company CoralTree Hospitality, bringing the Denver-based operator to two Park City properties for what both call a long-term investment in the community. CoralTree will oversee operations at Main Sky on Main Street a nd Pioche Village at Deer Valley Resort’s East Village as part of a broader agreement that includes properties in Colorado and Virginia. The expansion grows CoralTree’s relationship with Reef from one property — Black Desert Resort in southern Utah — to five nationwide. The partnership marks CoralTree’s return to Park City after previously managing Newpark Resort before departing in 2019. “We as a company are kind of born and raised in the mountains, so we definitely have a crazy affinity for the mountains,” said CoralTree Senior Vice President Mike Cuthbertson, explaining that the company began in downtown Aspen, Colorado, in 1973. “Getting into Park City for us is just an absolute joy.” He said the company has been looking for an opportunity to return to the area ever since leaving Newpark. But it’s unlikely that Parkites have heard of the brand, he said. That’s because unlike major hotel brands, CoralTree largely operates behind the scenes, managing resorts while allowing each property to maintain its own identity. “You probably don’t know our name, and you probably haven’t seen our name, and that’s very purposeful,” Cuthbertson said. “We’re a silent brand.” Rather than imposing a standard operating model across its portfolio, he said CoralTree focuses on developing each property’s unique identity. “We don’t have a perfect playbook that we say, ‘This is what we do in every location,’” he said. “We really go into each location, and we want to bring it to life to the best of its brand-of-one philosophy.” This approach aligns with Reef’s vision for its growing hospitality portfolio. Reef Chief Hospitality Officer Harry Hirsch said the relationship developed after the companies worked together at Black Desert Resort. Although Reef had planned to bring more hospitality operations in house, CoralTree’s performance convinced company leaders to expand the partnership instead. “We weren’t just looking for a hotel management company,” Hirsch said. “We really wanted a team that could share our values. … They’re genuinely a people-first organization, and they’re just a good group of people.” The partnership extends beyond traditional hotel operations. CoralTree also specializes in the management of homeowners associations, private residence clubs and vacation rental programs, a capability that both companies said is valuable for Park City’s condominium-based lodging market. Cuthbertson said the company’s experience managing individually owned residences made it well suited for Main Sky and Pioche Village, where ownership structures differ but require balancing guest experiences with homeowner expectations. “Homeowners have different expectations, pride of ownership. … We have to maintain and establish a relationship so that they feel trust, they feel cared for,” he said. “We want to make sure that those homeowners come on vacation and actually are on vacation and don’t feel like a landlord and have to come and fix the sink or do anything like that.” Pioche Village in Deer Valley East Village is one of two hotels in Park City that will now be managed by CoralTree Hospitality. The group was brought on by developer Reef Capital Partners, and both companies say they’re committed to locals for the long haul. Credit: Photo courtesy of Pioche Village Pioche Village, in Deer Valley East Village, is one of Reef’s newest developments. The community includes more than 400 residences, with about 90 currently participating in CoralTree’s short-term rental program alongside long-term residents. Cuthbertson said CoralTree hopes to grow that rental program while maintaining the property’s residential character. He envisions programming that encourages residents and visitors to interact, whether through food trucks, community events or shared gathering spaces. “We want it to feel like a place where locals overlap with guests, and you’re all kind of in the same ecosystem,” he said. Reef has had Main Sky for nearly seven years, Hirsch said, but big change is coming. This fall the hotel will announce a complete rebrand. The luxury condominium hotel on Historic Main Street has undergone extensive interior renovations, including redesigned residences, new furnishings, artwork and rebuilt restaurant, bar and spa spaces, Hirsch said. Guest rooms and hallways have already reopened, he said, so it’s currently in a preview period. The amenities will reopen with the rebrand announcement. Cuthbertson said the location of the property distinguishes it from other luxury accommodations in Park City. “The luxury level that Main Sky will operate in will compete against the best of the best luxury hotels in the Park City area,” he said. “But there’s really not that type of hotel that’s right on Main Street.” With only 33 units, he said the property has a more intimate feel. “It’s the kind of place where everybody knows your name when you walk in the door,” Cuthbertson said. For both companies, the partnership is a way to further invest in the local community.  Hirsch said Reef, founded by entrepreneurs from Vernal, has built its business through relationships and wants each property to reflect the character of its surrounding community. He added that Reef plans for both Park City properties to become increasingly involved with local nonprofit organizations, including the Children’s Justice Center, Peace House, Habitat for Humanity, Nuzzles Co., Wasatch Community Foundation and the People’s Health Clinic. “Reef is big in service for its community,” Hirsch said. “You’re going to start to see both of these properties showing up in a lot of those areas.” Cuthbertson said both companies share a long-term view of Park City’s future, seeing it as a destination that has proven its staying power across generations. “We pick places like Park City because they’ve been tried and true for many, many years, and we expect them to be tried and true vacation destinations for many, many more years,” he said. “We take a very long-term view of our business, and that fits really well with Reef. They want to be a part of the community fabric. We want to do the same. We’re in it for the long haul to do the right thing for the Park City community.” The post Pioche Village and Main Sky properties get new hospitality management appeared first on Park Record. ...read more read less