|ASPEN, Colo. (April 3, 2007) - St.
Regis Residence Club, Aspen was awarded the prestigious ACE Project of
Excellence Award by the American Resort Development Association (ARDA),
the trade association for the vacation ownership and resort development
industries. The award was presented at the annual ARDA Awards Gala on March
28 in Orlando.
The ACE Project of Excellence Award recognizes
one vacation ownership or mixed-use project that has been operational for
at least two years and is considered a success by all parties, including
the developer, members and the local community.
“We are honored to be given this notable award
by our peers,” said Matt Avril, president of Real Estate Operations at
Starwood Hotels & Resorts Worldwide, Inc. “I applaud all members
of the St. Regis Residence Club, Aspen and the Starwood Vacation Ownership
teams as well as our architecture, interior design and construction partners
that worked so hard to make this project a success to all involved.”
St. Regis Residence Club, Aspen began presales in November 2004. Representing
Starwood Hotels and Resorts entry into the fractional market, its combination
of luxurious design, record-shattering sales performance, and innovations
in the customer service arena has become an embodiment of what fractional
resort can achieve.
The St. Regis Residence Club, Aspen was developed
within the existing St. Regis Resort, located in the heart of Aspen. The
east wing of the building underwent a complete interior demolition and
reconstruction to feature 25, two- and three-bedroom residences with a
separate Member’s Lounge and check-in area.
A major business interest in the small community
of Aspen, Starwood worked closely with the City Council and community members
to ensure both architectural and business concerns were addressed. As a
result, significant design efforts were made to ensure the signature and
prominent building façade was not impacted. Additionally,
business operations were modified to provide a year-round operating schedule
to accommodate community business needs.
The overall construction process was a success
for Starwood, as the project was completed under budget and ahead of schedule.
The St. Regis Residence Club, Aspen represented
Starwood’s fractional industry debut, and its performance in the area of
sales and marketing has been powerful. The project was substantially sold
out in just over two years. The record-breaking sales pace achieved the
single-highest fraction price seen in the industry at the time, selling
for just under $1.5M for a four-week fraction. The fractional memberships
sold for an average of more than $400,000. The rapid sell-out pace
and strong price performance have produced a successful project for Starwood
and offer strong motivation to further develop the St. Regis Residence
The interior spaces represent an uncommon level
of luxury. Residences were designed to give members spacious living, dining,
kitchen, and bedroom/bathroom spaces. The 15, two-bedroom residences average
1,700 square feet, while 10, three-bedroom residences average 2,200 square
feet. Living spaces take advantage of the stunning views of Aspen Mountain
or downtown Aspen. Design and finishes honor the mountain setting while
providing the amenities and level of finish that members expect in their
own homes. Natural wood and stone was used abundantly in built-in millwork
details and flooring to reflect the rustic setting of Colorado.
Members of the St. Regis Residence Club enjoy
a wealth of amenities at the property including personalized check-in at
the Members Lounge and storage of personal items including outdoor gear
and clothing. Additional services can include having the residence
pre-stocked with the members’ favorite foods and wine, as well as personalized
airport pickup and more.
Established in 1969, ARDA today has over 1,000
members ranging from privately held firms to publicly traded companies
and international corporations with expertise in shared ownership interests
in leisure real estate. The membership also includes timeshare owner associations
(HOAs), resort management companies, and owners through the ARDA Resort
Owners Coalition (ARDA-ROC).
About St. Regis Resort, Aspen
St. Regis Resort, Aspen was named one of the
top five mountain resorts and top 20 hotels in North America by Condé
Nast Traveler, and one of the top 25 resorts in North America by the
Zagat Survey, and is the recipient of the Worlds Best Award from Travel
+ Leisure magazine. With an exquisite mountain decor, premier location,
and the trademark bespoke service for which the St. Regis group of hotels
is known, St. Regis Resort, Aspen is the quintessential mountain retreat.
For reservations or more information, call 1.888.454.9005 or 970.920.3300
or visit the website at stregis.com/aspen. To contact St. Regis Residence
Club, Aspen at 970.429.7391, via email at firstname.lastname@example.org, visit
the marketing offices in the lobby of St. Regis Resort, Aspen, located
at 315 E Dean Street, or visit online at stregisresidenceclub.com.
About Starwood Hotels & Resorts Worldwide,
Starwood Hotels & Resorts Worldwide, Inc.
is one of the leading hotel and leisure companies in the world with approximately
850 properties in more than 95 countries and 145,000 employees at its owned
and managed properties. Starwood(R) Hotels is a fully integrated owner,
operator and franchisor of hotels and resorts with the following internationally
renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R),
Four Points(R) by Sheraton, W(R), Le Meridien(R) and the recently announced
Aloft(SM) and Element(SM) Hotels. Starwood Hotels also owns Starwood Vacation
Ownership, Inc., one of the premier developers and operators of high quality
vacation interval ownership resorts.