Industry News
As Utah’s richest man, Matthew Prince, continues to make headlines for his bid to purchase Park City Mountain from Vail Resorts, another Park City billionaire is moving toward a high-profile acquisition of his own. Douglas Bergeron, the former Verifone CEO and developer behind the $65 million Deer Valley estate that broke Utah’s sales records in 2024, is preparing a bid to acquire Wohali, a private golf and backcountry access community outside Park City that filed for Chapter 11 bankruptcy earlier this month.
According to a press release shared with SnowBrains by Redhead Marketing & PR, Wohali’s bankruptcy filings list between $100 million and $500 million in debt to creditors. Bergeron, through his firm DGB Investments, is working with his legal team to assemble a bid. In a recent interview with KPCW, Bergeron said his plan is to stabilize Wohali and restore confidence among investors, vendors, and members. “Wohali owners have lost confidence in their investment, and local vendors are owed significant sums that can break a small business,” Bergeron said. “Contractors must be paid what they are owed, and members need restored faith in the vibrant future of this community.”
Big Vision for a Troubled Development
Bergeron’s early discussions reportedly include potential financing partnerships with luxury hotel groups and real estate investment trusts (REITs). His vision is for Wohali to host a luxury hotel, spa, multiple five-star restaurants, and a golf clubhouse anchored by the David Boyden–designed 18-hole course. Unlike other private clubs in the region, Bergeron said he would open access to non-property owners through a social membership program and day-play opportunities, citing models like Pebble Beach in California and Bandon Dunes in Oregon. “As a Park City resident, I care about the success of businesses in our community, and I want to ensure Wohali will thrive by offering an unparalleled lifestyle,” Bergeron said in the release.
High-Profile Track Record
Bergeron is no stranger to high-stakes turnarounds. In 2001, he led the acquisition of Verifone from Hewlett-Packard for $50 million and, as chairman and CEO, scaled it into a global payments powerhouse valued at $5 billion a decade later. He is currently the founder and sole shareholder of DGB Investments, a diversified holding company in technology and real estate, as well as chairman of Cantaloupe, Inc. (Nasdaq: CTLP). Bergeron is also a permanent member of the Council on Foreign Relations, a five-time delegate to the World Economic Forum in Davos, and has been a frequent guest on CNBC and Fox Business.
A Tale of Two Billionaires
The Wohali development comes into focus just as fellow Park City billionaire Matthew Prince keeps pressure on Vail Resorts, saying activist investors could push the ski company to sell off some of its properties. Prince, CEO of Cloudflare, has openly signaled his readiness to purchase Park City Mountain should such an opportunity arise.
There is clearly a growing influence of ultra-wealthy Park City residents in shaping the region’s future—from ski resorts to luxury golf communities. For now, Wohali’s future rests with the bankruptcy court and Bergeron’s formal bid. Meanwhile, Park City Mountain remains off the market, at least publicly, according to Vail.
