Financially Ailing Wolf Creek Resort Headed for the Auction Block

Although some chirpy optimists are claiming the recession is over, we say "tell that to the current Wolf Creek Resort owners, folks" 

While our friends at Ogden Valley Forum were the first local news source to break the story yesterday, both the Standard-Examiner and Deseret News are bringing up the rear and reporting this morning that Ogden Valley's Wolf Creek Utah Resort becomes the latest Utah casualty of the 2008-12 Great Recession:

• Wolf Creek resort up for auction
• Year-round destination resort in Eden up for sale

Although some chirpy optimists are claiming the recession is over, we say: Tell that to the current Wolf Creek resort owners, who've been struggling without success to effectuate a voluntary "creditor workout" since their original 2010 Chapter 11 Bankruptcy filing.

While Wolf Creek insiders say this property is worth "somewhere between $27 million and $34 million,” it'll be interesting to find out whether it'll fetch anything close to that at auction, as the U.S. remains gripped by a continuing recessionary economy.

We'll be keeping a close eye on this folks, as this forced sale ought to provide a telling barometer of the current bedrock economic health of Utah's tourist industry... and that of the local and U.S. economies as well.

Comments, anyone?