Residence Club Aspen Sells for More than
$1 million, New Benchmark for the Industry
|ASPEN, Colo. - Feb. 1, 2005 -- St. Regis Residence Club Aspen, the
first hotel affiliated luxury fractional property in the heart of Aspen
has opened with great success and is experiencing a strong sales pace.
Nearly 50 percent of the 275 memberships were sold prior to opening, and
St. Regis Residence Club represents the first time a luxury fractional
residence sold a four-week membership for more than $1 million, setting
a new benchmark for the industry.
"This million-dollar fractional sale represents an enormous milestone in the fractional residence industry," according to Raymond L. "Rip" Gellein, Jr., Chief Executive Officer of Starwood Vacation Ownership, Inc. "A mixed-use property, the St. Regis Residence Club Aspen expands Starwood's collection of vacation ownership offerings."
Membership prices for 1/11th fractional shares range from over $300,000
to over $1.5 million, depending on the size of the residence and the membership
plan. St. Regis Residence Club Aspen is one of the first fractional residence
clubs with a fixed membership option, so individuals may purchase fixed
weeks, as well as a floating option. Nestled in the premium location at
the base of world-famous Aspen Mountain and steps away from the center
of downtown, St. Regis Residence Club Aspen offers only 25 two- and three-bedroom
residences, which are located in the East Wing of the existing St. Regis
Resort Aspen. This landmark property presents the opportunity for a select
few to own an interest in the first hotel-affiliated luxury fractional
project in the heart of Aspen.
The St. Regis Residence Club Aspen is a deeded member-owned exclusive residence, offering luxurious
two-, and three-bedroom residences. The amenities available to members at the St. Regis Residence Club
Aspen are a members' lounge, fully equipped, world-class health spa, swimming pool and storage services.
Members also receive personal services provided at St. Regis Hotels including housekeeping, dedicated
St. Regis Residence Club Aspen concierge and 24 hour in-residence dining.
St. Regis Residence Club Aspen is also the only fractional project in Aspen where Residence Club Members enjoy privileged access to the first-ever Remede spa, which is the flagship spa of the new luxurious Remede spa brand being developed for St. Regis hotels. The 15,000 square-foot Remede Spa includes a fitness room, yoga/Pilates room, oxygen room, and 15 treatment rooms.
In addition to the exclusive environment and luxury decor of their private St. Regis Residence Club, members will have access to a private club and the superior services available at the St. Regis Resort Aspen, which just completed a complete redesign as part of the overall $37 million renovation. Residence Club Members enjoy a wealth of luxury services including a Residence Club concierge, the ski butler, and in-room dining from Olives Aspen. Club membership includes valet parking and storage services are provided to each member for clothing, sporting equipment and personal items.
The new residences are spacious, with sizes of approximately 2,200 square feet for the three-bedroom residences and approximately 1,700 square feet for the two-bedroom residences. Designed by Marc-Michaels Interior Design, one of the top 10 residential design firms in the country, the residences combine the expected luxury of a fine hotel with the warmth and coziness of a private residence.
Following are details of the new mixed-use resort property:
St. Regis Residence Club Aspen
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties.
St. Regis Residence Club Aspen
315 E Dean Street
|Also See:||Starwood's Opens First Vacation Ownership Property in Hawaii, The Westin Ka'anapali Ocean Resort Villas / December 2003|
|Starwood Spending $30 million to Convert 98 Rooms into Fractional Ownership at St. Regis Aspen / Feb 2003|
|Upscale Fractional Ownership Storming the Aspen Market / Dec 2002|
|A Logical Pairing: Fractional Condominiums and Fractional Jets / March 2003|
|Starwood Targeting Excess Land at Owned Resorts for Interval Ownership / Plans to Merge with Vistana / July 1999|