This article originally appeared in FraxFinderPart of Aspen’s unique cachet lies in its relative isolation, as it was not until 1879 when a few pioneers crossed the Continental Divide, discovered a Ute hunting area, and stayed. They found that the area was not only rich with game, fish, and fresh water, but also with a great abundance of silver. So even then, the dream of exceptional wealth, combined with the intrigue of getting away from it all, were main attractions of Aspen, much the same as it is now. To most who visit Aspen, it is still hard to get to, but well worth the trip.

 

Fractional and high-end destination clubs are usually placed in and around the most elite of destinations, and Aspen is arguably the most elite ski destination in Colorado. The cachet of Aspen is multifaceted: a winter hub for the rich and famous, a world-class destination for extreme sports fans and exceptional skiers, and a place known in the Spring and Summer for its wine, film and music festivals.

In recent years, fractional real estate has become quite popular as a second or third home alternative for those who love Aspen. Here is a list of the most exclusive, the most expensive, and the most amenity laden:

The Residences At Little Nell

At present, the RLN is most expensive fractional private residence club in existence, ranging in price from a 1/8 share at $1,900,000 to a ¼ share at $3,800,000. There are 26 residences, adjacent to the Silver Queen Gondola, at the base of Aspen Mountain, with nineteen three-bedroom units and seven four bedroom units. The four bedroom units have been sold out.

The St. Regis Residence Club Aspen

The St. Regis, also close to the base of Aspen Mountain, and two short blocks from downtown Aspen, offers for fixed or four rotating weeks per share in their two or three bedroom residences. In addition, the Remede Spa and the Aspen Back Institute, both renowned for the healing therapies and treatments, are on property. Fractional re-sales at the St. Regis range from $170,000 to $1.2M per share.

The Hyatt Grand Aspen

The Hyatt Grand Aspen offers 50 residences ranging in size from one- to four-bedroom suites with 33 unique floor plans. The Hyatt Grand Aspen is the first purpose-built luxury Aspen timeshare ownership project in downtown Aspen. Located at the base of Aspen Mountain, Hyatt Grand Aspen combines fixed week ownership and flexibility of floating space-available time as well. Pricing ranges from $125,000 to $2,450,000 per share.

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Dancing Bear Aspen

Dancing Bear Aspen is located in Aspen’s downtown area near Wagner Park. There are 20 residences sold in one-eighth fractional shares that grant owners at least six weeks of use a year. One of the buildings has been completed, and the other is expected to be ready in June 2010. There are nine three-bedroom corner units, averaging about 2,100 square feet, in the finished building, which has an exterior of red sandstone, black slate, steel and copper. Prices start at $775,000 per 1/8 share.

The Snowmass Club

$150,000 - $475,00 per 1/7-1/8 share.

The Residences at Snowmass Club off either fractional or whole ownership, of two through five bedroom townhomes. Phase 1 of the Residences offer 1/7 fractional ownership, and phase 2 offers 1/8 shares, ranging in price from $150,000 to $475,000 per share. At the Residences at Snowmass Club, owners are welcomed into warm surroundings that echo the Aspen/Snowmass mountain lifestyle. Award-winning architecture features oak hardwood floors, custom- designed carpets, fully equipped kitchens with slab granite countertops, and steam showers. And of course, all homes come complete with exceptional views of surrounding peaks.

The Ritz Carlton Club Aspen Highlands, The Ritz Carlton Destination Club

The Ritz-Carlton Club, at Aspen Highlands sits at the foot of a 12,500 ft. mountain with stunning views and 125 trails. This ski-in/ski-out village is surrounded by terrain for every class of skier and includes the legendary "Highland Bowl." Two and three bedroom residences look out and up on Upper, lower and mid-mountain terrain. The Ritz-Carlton Club, Aspen Highlands is located 5 minutes from the Aspen-Pitkin County Airport, 20 minutes from Snowmass, 2 hours from Vail and Vail/Eagle Airport.

It must also be mentioned that The Ritz Carlton recently launched its own destination club, and Aspen Highlands is one of its destinations. The Ritz-Carlton Club offers two purchase choices, – either a Home Club Membership (identical to the successful fractional ownership offering noted above)) which provides use of a titled residence at a property they can return to throughout the year, or a deeded, destination club Portfolio Membership which affords the opportunity to discover a wide variety of premier destinations and accommodations. Home Club prices range from the low $100,000s to the low $800,000s per deeded interest. Portfolio Membership pricing starts at $130,000 for 5,000 annual Club points.

Roaring Fork Club

The Roaring Fork Club is 15 miles outside of Aspen, near the small village of Basalt, Colorado, at the confluence of the Roaring Fork and the Frying Pan Rivers. Since 1999, this private club that features a Jack Nicklaus Signature Golf Course and exceptional fly fishing, with certified Orvis ® instructors.

The residences at the Roaring Fork Club combine whole and fractional ownership. 48 rustic hand-hewn log cabins are spread out around the property from the wooded riverbanks and areas along the fairways to those perched against the hillsides. The one and two story cabins have 3 bedroom, 3.5 bath floor plans. Residences closer to the Main Lodge are a scaled down version of the larger cabins. The outdoor fireplaces and roomy decks are also features of the Lodge Residences. Being situated on the top of the hillside, the Lodge Residences offer excellent views of the Jack Nicklaus Signature course, the fishing ponds, and the unimpeded views of the Roaring Fork Valley. Wholly owned cabins range from $3.6 to $6M, fractional pricing for ¼ share as of this writing range from $650,000 to $765,000. 1/6 and 1/8 shares are less. The Lodge residences are 1/6 ownership range and range from $219,000 to $314,500

The Timbers Club Snowmass

The Timbers Club at Snowmass is a Private Residence Club located at the base of Assay Hill at the Snowmass Ski area. The ski in/ski out member owned club has 36 3 bedroom and four town home residences, with a total of 288 fractional memberships starting at $418,000 - $500,000 for 1/8 share.

The Innsbruck

The Innsbruck is a fractional ownership residence development in Aspen, Colorado. Seventeen furnished residences are being offered on a deeded 1/12 interest, ranging in price from $93,700 to $227, 000. The Innsbruck is in the heart of Aspen, within easy walking distance to the Aspen Music Festival, the historic Wheeler Opera House, Theater Aspen and the quaint boutiques, galleries and restaurants of downtown Aspen. The Innsbruck Ownership Program guarantees owners a minimum of four weeks in residence per year, three selected from prime vacation seasons and one from shoulder seasons. Additional vacation weeks are always offered to The Innsbruck owners on a space available basis with no minimum length of stay.

Quintess

Quintess is a, non-equity based destination club, where members pay an initial membership fee, plus annual dues. They do not own the residences, but partake in their exceptional amenities. Quintess is the only club that has two residences in Aspen, one in town, the other on Red Mountain. Membership price levels ranges from $210,000 to $715,000 depending on the number of days desired.

Abercrombie & Kent – Aspen/Snowmass Residence

The Abercrombie & Kent Residence Club is an equity based destination club, meaning that members own and use the properties in the club portfolio. The Aspen Snowmass residence owned by the Club is on Brush Creek in the Snowmass Club, at the base of Snowmass Mountain and less than 10 miles from the heart of Aspen.

Membership deposits range from $225,000 to $495,000, depending on whether the member/owner chooses 15 or 45 nights a year.

Still Others

Green Aspen Lodge

Jet Luxury Resorts

Prospector of Aspen

Shadow Mountain Lodge

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No matter what stats are proffered, or who pontificates about it, no one knows very much about the High Net Worth ("HNW") population. The topmost fruit of any tree always looks the most tempting, in part because it is the most difficult to reach; its elusive nature is perhaps the reason for its perceived sweetness.

The highest end tier of the equity-based shared residence industry has recently been able to access some members of this population, as even now and especially now, HNW people do remember the value relevance of asset-based products. The clubs below, though the most expensive and/or amenity laden in the industry, have as their magnet the equity deed, where the owners buy a share of the residence. It combines their desire to travel to elite places, stay in multimillion-dollar residences, and with all the amenities - dedicated concierges, private chefs, butlers, all the usual comforts of home - own a piece of the home as well. The combination is irresistible, even to the highest of the high end.

The Residences at The Little Nell – Aspen Colorado

The Residences at the Little Nell (RLN), officially opened in February 2009, are the most luxurious, shared ownership properties in the world. Why are they so popular, and expensive? Because it’s in Aspen, at the foot of the Silver Queen Gondola, with ski-in/ski-out access to Aspen mountain. The residences are one of a kind, and the owners pay for this privilege. More than $80 million in sales have closed on this 26-residence property with significant sales continuing throughout the first half of 2009. A three bedroom residence for 1/8 (about 6 weeks) share is $1,900,000, and a three bedroom residence for ¼ share (3 months of the year) is $3,800,000. The four bedroom units are sold out.

The amenities residents enjoy include:

• Direct ski-in/ski-out access to Aspen Mountain
• Health center and rooftop pool
• Valet parking
• Slope-side ski lockers and personal storage
• 24-hour services including maid, concierge (pre-arrival also available) and in-residence dining
• 24-hour car service and/or vehicles available for residents' exclusive use

The Club at Solaris – Vail Colorado

Located in the heart of Vail Village within the new Solaris development, The Club at Solaris is the latest offering from Epiphany Clubs & Resorts. The Club will feature 19 exquisitely appointed residences will provide members with the amenities and service of a grand resort and the intimacy of a fine private residence.

The collection of three and-four bedroom residences average 2,800 square feet. Each is exquisitely appointed and features spacious rooms, gourmet kitchens, custom stone fireplaces and large outdoor-heated stone terraces with views of Vail ski resort and the surrounding mountain vistas. The kitchens boast granite and marble countertops, climate control wine storage and premium Sub-zero, Wolf and Viking appliances.

Membership deposit is $1,900,000 with the CLUB’S unique anytime availability® system..

Amenities include:

• Annual Ski Passes
• Luxury SUV for personal use
• Daily Housekeeping 24-Hour On-Site Personal Concierge
• Private Long Term Storage for ski, golf and personal items
• Slope-Side Ski & Boot Storage
• In-Residence Massage and Spa Service
• Private Chef Arrangement
• Pre-Arrival Grocery Service
• Private Airport Transfers

The Villas at the Grand del Mar – Del Mar, California

To begin with, this is not an UHNW fractional, but rather a HNW fractional with exceptional amenities, and some of the largest (5,000 square feet) and most exquisite fractional villas in existence.

Just as the palace of Versailles is 10 miles outside Paris, and the Taj Mahal is about the same distance from Agra, so too is the Grand del Mar - about a 20 minutes ride from downtown San Diego. The Grand Del Mar is San Diego’s newest luxury resort destination, with The Villas at the Grand Del Mar a fractional component of the Resort. The Villa owners can access the awards-winning resort amenities, any time they reside in the Villas.

 

• The Grand Del Mar Golf Course: The exceptional Tom Fazio-designed 18 hole course is considered one of the most dramatic and challenging courses in the country.
• The Spa: This is a 21,000 sq' space, and the treatment menu includes natural plants from the area: local Eucalyptus, sage, rosemary and mineral-rich muds. The Spa also is one of the few with flotation bed treatments. The Spa at the Grand Del Mar received the Favorite US Spa from Spa Magazine in 2008, and Conde Nast’s Top New Spa award in 2008.
• Addison’s: The resort’s signature dining venue, Addison’s is the only restaurant in Southern California to win the Five Diamond Award from AAA, in November 2008.

Even without these awards-winning amenities, the Villas life calms, yet enlivens. There are two Villa styles, each between 4,500 sq' and 5,000 sq', with outdoor decks, bbq grills, private hot tubs, and fire pits for more expansive living. Inside is a personal elevator (if you do not want to walk up the winding staircase to the three huge bedrooms), and a baby grand piano, perfectly tuned and ready to play. Each Villas also features a large media room, plus a personal computer and business area off the kitchen. In the two-car garage, a complimentary golf cart is there for owners to use while in residence. The Villas have been valued at $5 million each. As of this writing, the fractional pricing is 1/10 ownership for $450,000. For this price, owners receive 5 weeks a year, with unlimited use, based on space availability.

Finally, for those who love flowers, it will be duly noted that in the Villas at the Grand del Mar, the home décor, unlike many other hotels and villa residences, includes real Dendrobium orchids, real Camellias and Gardenias. There is no artifice here – only the best of the best: golf, spa, balmy weather, and awards-winning food. Life, perfected.

Elite Destination Homes

“This may be a terrible thing to say,” comments Bill Bisanz, CEO and Founder of Elite Destination Homes, a high end fractional co-ownership company in St. Paul, Minnesota, “but the recent problems seen in the destination club economy has brought quite a bit of business to us. Members who have been burned by other clubs are taking a second look at our practical, reality-based, transparent model of private co-ownership. We have not had the problems that larger, less intimate clubs have, access being a main one. If two families want the same week or two in Aspen or Turks, I just call one or both and ask if they could switch weeks… and the problem is solved. This is the advantage of many of the members knowing each other, and the company knowing the members also. “The inclusionary, friendly nature of a real club seems pervasive in this company, a high end shared ownership firm.

Elite Destination Homes’ model is based on co-ownership of the homes that the members can buy into. According to Bisanz, “Each deal is different. For example our current Turks deal (www.villalynda.com) is $400 equity buy in (+ $300k financed) for a 8 week interest. This pricing is very similar to our current paris deal (www.parisrsp.com). We do have a couple of other items that are $200k equity buy in. It really depends on what the member wants and how much he will use the residence.

Elite Destination Homes creates small, private, usually two to five, partnerships to own extraordinary vacation homes in some of the world's most desirable and exclusive destinations, including New York City, Paris, Turks & Caicos, Los Cabos, Florida, and Telluride, Colorado. The membership is by invitation only.