USA, Greenwood Village, Colorado. January 16, 2025

CoralTree Hospitality, one of the top independent hospitality management companies in the United States, today announced the addition of Black Desert Resort and Red Mountain Resort in southwest Utah to its growing management portfolio. The two properties, owned by Utah-based Reef Capital Partners, are located in Greater Zion with access to more than 2,400 square miles of adventure and inspiration including Zion National Park, the third most visited National Park in the United States.

"Our company continues to grow and innovate, and being selected to manage these two resorts that are reshaping the vacation experience in Greater Zion illustrates how we are being recognized for our approach to independent properties," said Tom Luersen, president of CoralTree Hospitality. "Our mission is to optimize the value for every property for its team members, guests and owners. We deliver an exceptional guest experience through our "Sense of Connection" program in ways that honor the communities that we live, work and play in. This philosophy has translated into continually over indexing against our comp set for guest satisfaction and a half dozen of our properties on key industry "best of" lists like the Conde Nast Traveler Readers' Choice. We know what we are doing is working and we can't wait to enliven this process at both Black Desert and Red Mountain resorts."

Black Desert Resort

The new Black Desert Resort, developed by Reef, is a 600-acre resort and entertainment complex spanning three communities - Ivins, Santa Clara and St. George. Stunning red rock cliffs and lava fields are the backdrop for the development, which is the only all-encompassing resort community in Greater Zion. The first phase of development features nearly 800 rooms including hotel rooms, private homes, a 45,000-square-foot convention center, 15,000-square-foot spa, infinity pool and cabanas as well as seven restaurants and bars.

The centerpiece of the first phase of development is the 19-hole, par-72 Black Desert Resort Golf Course, renowned as Tom Weiskopf's final masterpiece. The course blends ancient basalt rock formations with lush fairways and vibrant vermilion sandstone cliffs, creating a visually stunning and unique golfing experience. Spanning 7,500 yards, the course is meticulously designed to cater to golfers of all skill levels, featuring forgiving fairways, pristine greens, and thoughtfully placed landing zones.

Enhancing the experience, the course offers CADDIMASTER forecaddies, GPS-equipped carts with exclusive commentary from Weiskopf, fully inclusive on-course food and non-alcoholic beverages, a state-of-the-art driving range powered by TRACKMAN technology, and a 2-acre, 36-hole putting green.

The course recently hosted the Black Desert Championship, part of the PGA TOUR's FedExCup Fall series, marking the PGA TOUR's first visit to Utah in over 60 years. This April, the course will also welcome the LPGA Tour, making it one of only three golf courses in the country to hold annual events for both the PGA TOUR and LPGA Tour.

The Black Desert course already has received more than a dozen national awards and accolades with Forbes calling the course "the most intriguing new stop in pro golf." Golfweek alone has rated the Black Desert course on its "Best Courses You Can Play in Utah," "Top 100 Best Courses You Can Play in the U.S.," "Top 200 Modern Courses" and "Top 200 Resort Courses in the U.S." lists. Golf Digest ranked the course as one of the "Best New Courses to Open in 2023."

Black Desert is deeply committed to its community having developed partnerships with Utah Tech University, the Utah Jazz, Utah's NHL team, high school teams, the arts community and other organizations to make a positive and lasting impact in Southern Utah, the state and beyond. The resort also is dedicated to environmental stewardship within its 600-acre development, with approximately 33 percent of the land preserved as open space. Sustainability is a cornerstone of Black Desert's design and operations, incorporating energy and water conservation practices throughout. In recognition of these efforts, Black Desert received the prestigious 2023 Utah Green Building Award from Utah Business Magazine .

The resort is currently open for preview stays and will celebrate its grand opening later this year. The long-term vision for the Black Desert Resort calls for additional rooms and residences, a vibrant pedestrian-only boardwalk with over 80,000 square feet of restaurant and retail space, a pickleball complex, and water park. Guests and residents also will enjoy more than six miles of public hiking trails throughout more than 200 acres of preserved land.

Red Mountain Resort

Red Mountain Resort has welcomed wellness enthusiasts for nearly three decades. The 55-acre resort is located adjacent to the iconic Snow Canyon State Park and provides access to all of the outdoor adventures found throughout Greater Zion. The 130-room resort is renowned for its focus on wellness and adventure that capitalizes on the natural beauty of the surrounding region. As a leader in wellness travel, Red Mountain offers daily morning hikes, healthy dining at Canyon Breeze restaurant, relaxation at the award-winning Sagestone Spa, a fitness and recreation center as well as an unlimited list of daily adventure and fitness offerings.

Red Mountain has consistently been listed among the best destination spas in the United States by Spas of America and has been noted as one of the best hotels in the country by U.S. News & World Report . The resort has made several appearances on the Travel + Leisure "World's Best" awards and Conde Nast Traveler "Readers' Choice" list where the publication called Red Mountain, "one long love letter to the great outdoors."

"CoralTree's exceptional track record in managing diverse resort communities and their expertise in blending residential resort rentals with traditional hotel offerings perfectly aligns with our vision for Black Desert and Red Mountain resorts," said Jared Lucero, CEO of Reef. "Their unique approach to hospitality celebrates the natural beauty, culture, and community of each destination. We are confident that CoralTree's stewardship will not only help reimagine Red Mountain but also establish Black Desert as a landmark destination in the desert southwest."

"Our team members are the catalyst for realizing the vision of these two properties," added Luersen. "Not only do we empower our team to serve from the heart but we focus heavily on allowing them to innovate, deliver greatness and do what is best in all aspects of their work. We are passionate about the people we work with and look forward to welcoming the teams at both resorts into the CoralTree family." CoralTree has been named the No. 3 best small company to work for in Colorado for two years in a row as part of the annual Denver Post, Top Workplace survey.

Nestled within the stunning red rock landscape of Greater Zion, Black Desert and Red Mountain Resorts offer an unparalleled gateway to adventure and natural beauty. This remarkable destination is defined by its diverse geography, where the Mojave Desert, Colorado Plateau, and Great Basin converge to create a backdrop of snow-capped peaks, red rock canyons, and striking red sand mountains. Home to Utah's most visited National and State Parks, Greater Zion provides easy access to four state parks and an abundance of year-round recreational lands. Visitors can experience a burgeoning mountain biking scene, some of the country's best off-highway vehicle trails, scenic and challenging play at 14 top-rated golf courses, and world-class cultural performances at the nearby Tuacahn Center for the Arts - all set amidst this breathtaking natural environment.

Reef Capital Partners is a vertically integrated real estate investment, development, and operations firm dedicated to enhancing communities through transformative and impactful projects across North America. Reef creates a sense of belonging to something extraordinary by delivering unforgettable experiences that endure for generations.

Signature developments include Black Desert Resort, a 600-acre luxury destination in Greater Zion featuring a Tom Weiskopf-designed golf course, curated residences, and premier events like PGA TOUR and LPGA Tour tournaments, and Marcella Club, home to exclusive communities with a Tiger Woods-designed championship golf course and world-class amenities. Reef's portfolio also includes Red Mountain Resort, Coco Palms Resort, Main and Sky, Sweetens Cove, Cutalong at Tributer Resort, and Boardwalk Hotel at Lake Anna, showcasing the firm's commitment to innovative design, sustainability, and community impact.

By aligning investment expertise with development vision, Reef Capital Partners is reshaping the future of luxury living, hospitality, and recreation. Learn more at www.reefcapitalpartners.com.