Ritz Carlton Vail – FAQ
1. Is the property offered ‘deeded property’? yes
2. What percentage fraction is being offering? 12th /3 week
3. Are the weeks offered fixed or variable? variable rotating
4. Is the building completed yet? no/ ready late 2010
5. What percentage of the total units have been sold to date?
6. How many price increases has the development had over time? Several
7. Exactly what does ownership include? minimum of 3 weeks use, all RC amenities, per diem nights, discounts at RC Hotels
8. May I see a printed list of the fees you charge? Yes
9. If finance is required, how do you recommend I finance the purchase? Most do their own, but we will have financing as well
10. How long has the company been operational? 75 years.
11. Do you mind providing the contact details of some customers who have purchased fractional interests in your properties recently? No
12. Can I test the reservation process and visit a property within the club’s portfolio before joining? No
13. What is the process if I wish to sell my fraction in the property at any time in the future? You can sell it on your own, or we will sell for you
14. How does one book for popular holiday periods eg. school holidays, and what booking system is in place eg. first come, first served and is there any priority amongst owners? You can request a time up tp 23 months in advance, first come first served
15. What additional services does fractional ownership cover (eg. concierge, car rental, airport pick up / drop off) and are there any extra costs? Twice daily house keeping, private concierge, ski concierge and storage, members lounge, discounted Hotels with free breakfast and upgrade, discounted golf and lift tickets, discounted additional nights, etc.
16. Are there any additional fees or charges applicable in addition to the fractional property purchase? Annual dues of $13,00 to $18,000.
17. Does the company have plans to raise prices – if so, when and by what rate and what factors would influence such price increases in the future? Christmas 2009. Will continue to rasie price as new inventory is released
18. Are photos and floorplans available for the properties and are their any ownership rules – eg. are pets and is smoking allowed? Yes, no pets, no smoking.
19. How are the properties furnished (what sort of style and decor, fixtures and fittings etc..)? See Photos
20. What other amenities can I expect at each resort – eg. access to vehicles, golf cart and professional access (where applicable)? All RCC amenities, see list
21. What is the average amount of days a member currently uses for the plan I’m considering and can you rollover any unused days to the following year? Can not roll over, members avaerage close to 30 nights a year.
22. Does the property complex partner with travel agencies, jet, yacht services or have access to any other assets? Net Jets
23. Who owns the properties at present and what happens if the property company fails? Vail Resorts, niether company will fail.
24. What do you believe are the strengths and weaknesses of the company and properties available and why should I ultimately buy this one in comparison to the choices available? Ritz-Carlton is the number one manager of luxury assets in the world and has been doing it for 75 years.
