A man from Texas is paying slightly more than $300,000 for a fractional ownership in the $40 million Hyatt Main Street Station development under construction in the heart of a ski village 60 miles west of Denver.

The unidentified Texan is shelling out the most recorded for a fractional ownership, which is a new form of the time-share concept. A total of 77 shares have been snapped up, realizing $4.5 million – selling half of the 42 available units on the first day the sales office opened. The remaining units will remain up for sale until Sept. 1, with East West planning to market another block in November, says Bill Fiveash, Hyatt Main Street’s development head. Fractional shares range from $19,000 to $300,00 per unit.

Typically, the buyer gets to use the unit for 17 days, with one week during the prime ski season.The Texan who bought the most expensive unit receives 34 days, including weeks before and after Christmas.

The project, to be operated by the Hyatt Regency Hotel chain, is being developed by Beaver Creek-based East West Partners. East West is the largest developer in Summit and Eagle counties, homes to Breckenridge and Vail, the largest ski mountain in the US, respectively.

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