After years of failed redevelopment talks, Park City’s Yarrow DoubleTree has a new owner and a plan to cater to adventure-seeking guests. The Park Avenue property will reopen in 2027 as an Oubound Hotel. It will be the sixth hotel for the small, boutique brand.
Global asset firm Barings LLC bought the 4.5-acre property in mid-December. The firm is now collaborating with real estate investment and property management company Waterton, which will lead the site’s transformation. Outbound is known for offering close-to-nature hotels with properties near Yosemite National Park, Mammoth Lakes, California and Sedona, Arizona.
Matthew Mering is the executive vice president of hospitality at Waterton and a co-founder of Outbound. He told KPCW Waterton had been eyeing the Yarrow property for years.
“We wanted to go to Park City because it's probably the most iconic ski resort in the country. It also has a great summer season,” Mering said. “When the Yarrow came up for sale, it was a no-brainer.”
Mering and his team are also friends with the previous owner, Singerman Real Estate, and knew the Park City Council had worked with Singerman for years to redevelop the property.
As a first step in revitalizing the Bonanza Park neighborhood, Singerman had proposed demolishing the decades-old hotel to build a modern mixed-use development.
But the Park City Planning Commission voted against the project in March 2025 because its 45-foot height exceeded the city's 35-foot zoning limit.
“They had a bigger development plan for the site, and when that seemingly was kind of going nowhere, they decided to sell,” Mering said. “We were very excited for the opportunity, because number one is an incredible location, and number two, we prefer to buy existing assets.”
Mering said his team prefers reimagining an existing property rather than ground-up development. So, the Yarrow is set to receive a full transformation.
Work on redesigning rooms, bathrooms and social spaces has already begun. According to a January announcement, the new Outbound Park City will draw inspiration from the Wasatch Mountains. The design will “blend Nordic clarity, playful mountain culture, and Outbound’s warm, contemporary approach to materials and craft.”
Mering said the focal point of the transformation will be the two courtyards in the middle of the building. They will be combined and feature a new pool, hot tub, cabanas, outdoor games and fire pits.
“We spend a lot of time thinking through and programming and designing really compelling outdoor spaces, because the brand is really about being outdoors,” Mering said.
Mering said the goal is to open up the space to locals as well. The courtyard will have a space designed for live music and small events for community members as well as hotel guests.
Plans also include a retro diner concept, a speakeasy-inspired bar and flexible areas for après activities. Mering said there’s an opportunity to bring in community members there as well; Outbound restaurant-goers are typically 50-60% local.
