Rob Lowe, president of Lowe Destination Development, explains that the conversion program offers owners a property that they can own and occupy but also offers them the option to place their units in the hotel rental program when the owners are away. Lowe bought an interest in the 600-acre resort in April 2004 and began the renovations last fall. The design of the 238 condominiums allows for the separation of units to maintain the resort's original 404 guest rooms. Room renovations are now under way to create luxury studio, one- and two-bedroom units and three-bedroom penthouses. The condominiums are priced from $300,000 to more than $2 million.
Built in 1991, Squaw Creek was the first luxury resort to be developed in the Squaw Valley area, which gained popularity in 1960 as home to the Winter Olympics. The resort features a Robert Trent Jones Jr. championship golf course, three swimming pools, four restaurants, a retail complex and 33,000 sf of meeting space. The resort is managed by Destination Hotels & Resorts, one of the largest independent lodging management companies in the US.
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