Extell Secures $600M Loan for Four Seasons Resort and Residences in Utah’s Deer Valley

Extell Development Co. has secured a $600 million construction loan to finance its high-profile Four Seasons Resort and Residences Deer Valley in Park City, Utah, the latest addition to the developer’s luxury hospitality portfolio. The New York-based firm received financing from JVP Management, also headquartered in New York.

The resort is under construction within Deer Valley East Village, a newly planned luxury alpine hub roughly 40 miles from Salt Lake City. Extell broke ground earlier this year and expects to deliver the completed property in 2028.

Designed by ODA Architecture, the Four Seasons development will feature 55 condominiums situated above the hotel and 68 private one- to five-bedroom residences. Hotel accommodations will range from one to seven bedrooms and span 1,200 to 7,000 square feet, with direct ski-in/ski-out access.

Extell’s chairman and founder Gary Barnett emphasized the strength of the project and its financing:
“This loan underscores the tremendous confidence the market has in the Four Seasons brand, who we have partnered with on three separate projects, as well as our commitment to Deer Valley East Village,” Barnett said. “We’re excited to have reached this milestone with our long-term lending partner JVP and look forward to seeing this vision come to life with the grand opening of Deer Valley’s ski expansion this upcoming winter.”

Residents and guests will have access to a slate of high-end amenities, including a wellness center, spa, saunas, steam rooms, multiple pools, a ski-in/ski-out lounge with an outdoor terrace and fireplace, and four onsite dining venues. The resort will also offer event facilities, including a grand ballroom, three meeting rooms, and an outdoor event terrace.

Homeowners at the Four Seasons property will benefit from exclusive amenities and a dedicated director of residences. At the time of financing, approximately 40% of the for-sale residences had already been sold, with Summit Sotheby’s International Realty leading sales efforts.

In addition to the Four Seasons project, Extell is playing a major role in shaping Deer Valley East Village. The developer is also behind a 180-room Canopy by Hilton hotel slated to open in 2026 and recently completed the Grand Hyatt Deer Valley, a 436-room resort that opened in late 2024.

A Major Milestone in U.S. Luxury Mountain Resorts

‍Deer Valley East Village marks the first new alpine village of its kind developed in North America in over four decades. With its luxury branding, world-class infrastructure, and integrated residential offerings, the area is quickly becoming a premier destination for affluent travelers and second-home buyers.

Deer Valley Ski Expansion Boosts Appeal

‍The Four Seasons property will open amidst a major expansion of Deer Valley Resort, scheduled for the 2025/2026 ski season. The $200 million project will add 10 new chairlifts and 100 ski runs, boosting Deer Valley’s skiable terrain to over 5,700 acres across 238 runs—making it one of the largest ski resorts in North America.

Utah’s Growing Luxury Real Estate Market

‍Utah continues to attract national and international buyers with its mix of year-round recreation and luxury developments. Projects like the Four Seasons Resort and Residences Deer Valley reflect the broader trend of five-star hospitality brands investing in Western U.S. mountain towns to meet surging demand for ultra-luxury experiences.

Originally reported by Rebusiness Online.