Robust Sales at Four Seasons Residence Club Vail Fueled by Market Trends : · Nearly 35 Percent of Fractional Interests Sold in Less Than One Year ·
VAIL, Colo. (Business Wire EON) August 26, 2008 -- "We're thriving in a unique micro-climate," said Jeff Meier, senior director of sales and marketing for Four Seasons Residence Club Vail. "Vail real estate buyers see the pace at which inventory is diminishing and are responding more quickly. We're still experiencing strong demand, from both domestic and international marketplaces."
Meier cited interest from the international market, including Mexico, Canada, and South America, as a recent buying trend for Vail, Colo. real estate, and for the property.
"About 19 percent of our buyers have come from outside the U.S. and inquiries from these areas are growing," added Meier.
When coupled with Vail's increased international winter visits, this trend makes perfect sense. Vail Resorts, which owns Vail and Beaver Creek ski areas, reported a 26 percent increase in international visitors during the winter season. With the growing global economy, Vail's appeal continues to become more solidified outside of the U.S.
Meier added that interest in fractional and destination club opportunities in the mountain real estate industry is rising. "As baby boomers search for retirement opportunities, we're seeing a greater interest in new, more flexible and lower maintenance vacation property."
The Ragatz Associates 2008 report supports this stating that an estimated 50,000 households in the U.S. have purchased shared-ownership properties. The survey also found that property price per square foot was higher in ski communities and at developments offered by branded hotel companies, despite a softening real estate market nationally.
Meier also cited the Four Seasons Residence Club Vail fractional use plan configuration. The plan features a guaranteed prime ski vacation, a prime summer vacation, and the ability to purchase consecutive calendar interests. This flexibility is ideal for extended families and friends that plan vacations together, and the number of buyers who purchase more than one interest is growing dramatically. It is also possible to exchange to other destinations within the Four Seasons Residence Clubs portfolio.
Situated at the main entry to Vail Village, Four Seasons Resort Vail is only the third mountain property in the collection and the first Four Seasons for Colorado; scheduled to open in late 2009. The property features a 120-room resort, as well as limited real estate opportunities, including 19 fractional residences sold at 1/12 interests, and 16 private residences. Owners enjoy an incomparable level of luxury living with full access to Four Seasons services and amenities, including a spa and fitness club, lap pool, fine dining restaurant, dedicated ski and snowboard valet service, and the signature Kids For All Seasons program.
Four Seasons Residence Club Vail residential interests are now available. Inquiries are managed by Playground Destination Properties Inc. For further information, contact Jeff Meier at (877) 748-VAIL (8245) or visit www.fourseasons.com/ownvail.
MULTIMEDIA GALLERYhttp://www.businesswire.com/cgi-bin/mmg.cgi?eid=5763009
This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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