Park City: Why Celebrities and Billionaires Are Flocking to Utah

Utah is seeing a major boost in its real estate and tourism lately, and a group of luxurious mountain resorts may be partly why. Park City, Utah is home to numerous first-class hotels and resorts offering their guests lavish accommodations and extreme adventures such as skiing and snowboarding.

Park City used to be known for its silver mining industry in the 1800s. After its shutdown in the 1950s and a major drop in its population and economy, locals transformed the place into a tourist destination for its snowy mountains, perfect for skiing. In 2002, it served as the venue for the Winter Olympics' snowboarding and ski events.

Among its notable resorts is Stein Eriksen Lodge Deer Valley, the only five-star hotel in Utah and is named after the late Norwegian Olympic Gold Medal skier. The hotel offers fine accommodation, dining and pampering services, as well as adventure packages that includes a private jet ride overlooking Utah's grand landscape.

Nearby, the Park City Mountain Resort boasts of being America's largest ski resort. Popular attractions include extreme rides and roller coasters.

According to Forbes, celebrities and billionaires alike list the city as their favorite vacation spot, and some have even invested in their own properties. Will Smith, Michael Jordan, Taylor Swift and Justin Bieber are among its famous clientele.

Swift and Bieber, in particular, have stayed in a gorgeous vacation home in the area several times that the owners are calling it the "Justin Bieber and Taylor Swift vacation home." According to Curbed, the nine-bedroom, 11-bathroom property is now up for auction starting at $15.9 million.

Another swanky property on the block is Dreamworks producer Jeffrey Katzenberg's estate in Bald Eagle Mountain. It is currently for sale for $15.5 million, with seven bedrooms and 10 baths, installed with all imaginable amenities.

According to Great American Country, Park City now has more tourists than actual residents. But with its booming economy brought about by the busy tourism, locals are hardly complaining.

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