Wolf Creek Resort up for auction

Posted at 6:58 PM, May 21, 2012

EDEN, Utah -- Wanna buy a ski resort? Or a golf course? Or a couple of lodges and some picturesque real estate?

This may be your chance.

The 3,000-acre Wolf Creek Resort here in Eden is going up on the auction block June 1, with all of its amenities going to the highest bidder.

"Here you have an opportunity to buy a golf course and a ski resort," said Rob Olson, of Erkelens and Olson Auctioneers. "Over 3,000 acres and it's ready to go. It's a turnkey business."

Wolf Creek Resort has been in business since 1963, when the golf course was built. The ski resort, known for catering to beginners, spans generations.

"Grandpa learned to ski there. He taught your dad, now he's teaching you," said Rob Thomas, Wolf Creek's Chief Operating Officer. "It really is the perfect little beginner hill."

But the bad economy sent the resort into the red. It's been in bankruptcy since 2010.

"A lot of the stuff that we do up here was driven by the real-estate market and when that kind of took a tank, that kind of put us where we're at today," Thomas said.

The U.S. Bankruptcy Court has approved the auction. The ski resort, the golf course, the lodges and parcels will be auctioned off June 1 in one block. If the court does not approve the price it fetches, they will be auctioned off piecemeal. Interested bidders need to have $100,000 as a deposit just to get into the auction, Olson said.

"This appraised from $28 million to $34 million, which is a good price," Olson told FOX 13.

Wolf Creek is likely to sell for much less, but Thomas said on June 2 they expect to keep operating.

"Whoever comes in an picks this up, they're going to have their own vision for what they'd like to see it at the end of the day," he said. "But for the most part, it's alive, it's well and it's moving forward."

Details of the auction can be found here.

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