Park City is in its last minute sprint of transformation as it prepares for A list stars and the debuts of culture changing films.
All this buzz has been good for Park City and for Utah. The Hotel Caledonian, which features 19 swanky condominiums, usually rents a single bedroom for one night at a rate of $650. The festival drives the price for the same room up to $1,300 a night.
“It’s great for the economy. I hope that it continues for a long period of time,” said Carlos Rivera from Puerto Rico.
There are plenty of people willing to pay top dollar for good digs. According to Park City Chamber of Commerce President Bill Malone, 18,000 people will pack Park City hotels during the opening days of the festival. The average hotel occupancy rate of the festival is 14,000 a night.
Malone says the festival injects $60 million into Park City's economy and more than $80 million into Utah's economy.
Most of the Sundance Film Festival tourists come from California and New York. The festival begins Thursday and continues for ten days. ABC News