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Show it Wednesday, August 1, 1974 1972-197- 3 Construction was resumed in the summer of 1972. The Crescent Ridge and Payday condominiums were started, and the controversial Homestake condominiums and Snow Country employee housing complex were begun. The Summit House and base lodge were expanded and ground was broken for Marsac Manor. The golf course clubhouse was also started. On Treasure Mountain, the First Time lift was built and the Hoist was cut. In addition, $300,000 worth of trail work was completed. Our ski operation was on target, Mr. King observed. Our losses were as projected. 3 The winter season witnessed an increase in the number of skiers in Park City and a . 72-7- greater percentage of skiers. The unit of measurement out-of-sta- te utilized to compute the relative level of operation for ski areas is the average skier day. In simple terms, this unit denotes one skier using the facilities of a resor t for a full day. The number of skier days registered by Park City jumped from 140,000 during the initial 1970-7- 1 season to 1972-7- 3 in the skier 296,000 days season. The reasons for this dramatic jump are many and varied. The Greater Park City Company and Park City Ventures are the two main pillars upon which the economic structure of Park City is, and will be, supported. To gain insight as to the past, present, and future of these corporate entities, the Coalition interviewed Mr. Warren King, President of GPCC, and Mr. Niles Andrus, manager of Park City Ventures. GPCC BORN Warren King first traveled to Park City as a vice president of the Royal Street Development Company. His purpose was to conduct negotiations with Mr. James Ivers, then President of the United Park City Mining Company. The United Park City Company had established a ski resort in Park City in 1963 to augment its mining income. By 1969, it became apparent that the Company would need additional capital from an outisde source to perpetuate its recreational investment. Enter Royal Street. In January of 1969, Mr. King and Royal Street began what was to be years of and lengthy complex one-and-a-h- alf negotiations. After reflecting on the 250 days he had spent in Park City the previous year, Mr. King moved here in November of . 1970. In July of 1970, United Park City and Royal Street signed an agreement which gave Royal Street the option to supply the basic financing for the ski resort. Late that same year, Mr. King was named President of the Treasure Mountain Resort Company. Royal Streets option was exercised on February 16, 1971, and the Greater Park City Company was born. ET The terms of the agreement provided Royal Street with the management contract and, thus, made it responsible for the administration of GPCC with Mr. King at the helm. EXISTING FACILITIES GPCC and Mr. King inherited the Thaynes and Prospector chairlifts and the gondola, all of which were built in 1963. Also existing at that time were part of the present base lodge and part of the present Summit House and a nine-hol- e golf course. The Three lift was also present, but it Kings had been erected under the direction of GPCC. 1971-197- 2 The summer of stallation of 1971 saw the in- the Payday, Crescent, and Lost Prospector chairlifts. The Thaynes Canyon golf course was begun, and the land for the future Holiday Ranch was purchased. In July of that year, the Three Kings con- dominiums were started. Mr. King describes GPCCs first full season of 1971-7- 2 as excellent. The new lifts and runs were and we were well-accepte- d, receiving national publicity. Stein Eriksen was hired as Director of Skiing also at this time. Stein, Mr. King says, filial the bill. He never complains, he does an excellent job, he likes skiing, and he likes people. It was noted that Mr. Eriksen has renewed his contract with the Resort for another three years. Financially, GPCC anticipated losses for the first five years of operation. The company did as well as expected that initial season. One contributing factor was the increased lift capacity on the mountain. Another reason was the introduction of an American Airlines route into Salt Lake City. United Airlines had previously been the only major carrier into S.L.C. and it promoted most of its people into Colorado. With the advent of American, Utah was accepted on the same level as Colorado. A more aggressive advertising campaign by the state, by businesses, and by the Resort, along with the name of Stein Eriksen all combined to make Utah and Park City more prominent on the ski scene. Still another factor was the increasing cost of traveling to European ski resorts. A drastic increase in the number of transient pillows in Park City also facilitated this growth. 1973-197- west advertising (the full effects of which will not be felt for five years. Mr. King says) all combined for the continued growth. 1974-197- outdoor and 8 indoor tennis courts, a major swimming pool, and an equestrian center. 16 REL- COMPANY-COMMUNIT- Y ATIONS 5 Hampered by the building moratorium, the Resort was still able to implement improvements to the ski environment which should please the local skier and attract the out-of-sta- te en- thusiast. The Prospector chair was rebuilt at a cost of $200,000 and the result will be increased capacity of 400 people per hour. A new face was added to the triple chair area and the hdt spot was hopefully eliminated. Added to this work, new snow-ca- t trails were cut and much cleaning and grooming was accomplished. Projections call for 400,000 skier days during the 74-7- 5 seas mi. To accommodate visitors, an estimated 3,000 transient pillows will be available. This compares to the 900 pillows of the 70-7-1 season. TIIE FUTURE The potential of Park City is best attested to by Mr. King who remarked that only 20 percent of the proposed ski area has been developed to date. The total development of the mountain will take from 10 to 15 years. In the future, GPCC intends to build another golf course, 18-ho- le Mr. King isolated lack of com- munications as the biggest problem which has hindered relations. He the in said, past, the company of was guilty negligence in the area of public relations and communications. The company was wrapped up in doing so many things at one time. He feels the hiring of Mr. Dale Zabriskie has remedied the situation considerably. Mr. Zabriskie serves as Director of Communications and Assistant to the President for the Greater Park City Company. Regarding future relations between GPCC and the city, Mr. King stated he is very opI believe what we are timistic. doing is proper and right. Once we get the story told, we will have the support of the community and right will prevail. Some people think of us as a fast-buc- k short-tercompany. The facts prove contrary. We have made a deep financial commitment to Park City. We are an operating company, not a development company. We will still be here when the mountain is finished. Mr. King believes the companys and the citys long-rang- e interests are in harmony. We want to be a nice place to live. 4 The summer of 1973 saw the King Consolidated runs cut and the triple chair installed. The buildings which would serve as the National Training Center quarters were renovated. The Park Avenue and Claimjumper condominiums were started. Work was Commenced on the roads and public service facilities in the Holiday Ranch area, and the Crescent and Payday condominiums were completed. This past winter was another successful seas Mi, with the number of skier days exceeding expectations. Business beyond that which was projected was typical of all Western resorts. The presence of the U.S. Ski Team, devaluation of the dollar, European economic conditions, weather conditions in the Blast, and greater Blast coast and Mid SO BUSINESS WITH |