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BEAVER CREEK, CO-Ritz Carlton and Vail Resorts Inc. are developing a hotel and Ritz-Carlton Club in the tony Bachelor Gulch Village near Beaver Creek. Vail Resorts owns Beaver Creek and Bachelor Gulch, as well as the ski resorts of Vail and Breckenridge.

The Ritz-Carlton Club allows buyers to “own” a luxury unit in the mountains for 28 days annually for prices that start at $145,000. By contrast, it would easily cost $1 million or more to buy such a unit, notes Jim Martin, an attorney with the Denver law office of Baker & Hostetler. Martin handled the legal work on the project.

And someone who buys a unit probably won’t spend more than 28 days there, anyway, he says.

“I wish I had 28 days of vacation,” Martin says.

Ritz-Carlton is building a 54-unit club. It recently opened a similar, although slightly pricier and larger club, in Aspen Highlands.

In addition, the company is building a 238-unit Ritz-Carlton hotel adjacent to the club in Bachelor Gulch, which sits mid-way up the mountain.

The construction cost of the two projects, not including the land, is more than $200 million, according to Bob Phillips, vice president of Ritz-Carlton Club development.

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