Ritz-Carlton Club Selling Fast

Members can purchase a one-twelfth interest for $160,000 to $500,000 for a two- to three-bedroom residence. Despite a slow economy and a drop in the stock market last year, interest in fractional interest vacation homes continued to grow significantly.

Fractional interest sales totaled about $373 million worldwide last year, according to recent research by Ragatz Associates. Sales volume in the high-end fractional/private residence club market has been up an average of 30% per year since 1999.

Consumers who hold fractional properties purchase them primarily for the certainty of high quality accommodations (96% %), location (89%) and quality compared to other options of a similar price. In addition, about one-third of high-end fractional/private residence club owners have shown an interest in purchasing more time at another resort area. The median household income for buyers in this group is $241,000.

Ski destinations account for the majority of fractional interest resorts, according to Ragatz, with some 54% of high-end fractional/private residence club properties located in this area. Some 96 % of high end fractional/private residence club owners report satisfaction with their purchases.

Colorado continues to be one of the leading states for fractional ownership properties, according to Ragatz. More than 40 fractional interest properties have been constructed or are currently under development in the state. Eleven of those properties can be found in the Aspen Valley area.

In the last few months, new fractional ownership properties have been announced by St. Regis, Little Nell, Hyatt Grand Aspen Lodge, Dancing Bear and Sardy House. Other established properties in addition to The Ritz-Carlton Club, Aspen Highlands include Prospector of Aspen and Shadow Mountain Lodge in Aspen. There are three properties in Snowmass including Timbers Club, Sanctuary at Snowmass Club and the Snowmass Club.