What are the ingredients for the ideal Private Residence Club?
Many would suggest that it starts with location…a resort setting where there is a strong demand for luxury vacation homes or luxury hotel offerings. A location with mountains, rivers, golf courses, spectacular views, and multiple seasons is preferable. Resort areas with land scarcity and a difficult entitlement process are also particularly attractive.
Welcome to Jackson Hole, Wyoming USA - a remarkable place that includes all those ingredients and then some. Jackson Hole is a valley located in west-central Wyoming, and gets the name "hole" from early trappers or mountain men, who primarily entered the valley from the north and east and had to descend into the valley along relatively steep slopes, giving the sensation of entering a hole. These low-lying valleys surrounded by mountains contain rivers and streams that are good habitat for various fur-bearing animals.
The valley is formed by the Teton Range on the western side and the Gros Ventre range on the eastern side. Grand Teton National Park occupies the north-western part of the valley encompassing the much of the Teton Range as well as Jackson Lake. The average altitude of the valley is over 6,500 feet (2,000 m).
The price of quality real estate in Jackson Hole has skyrocketed over the past decade due to the limited amount of developable land. The ever-growing demand to own a piece of paradise here created the need for alternative leisure real estate choices. In 2001, the Teton Club, located in Teton Village, was the first Private Residence Club sold as fractional ownership in the area. Located between an aerial tram and a gondola, it was the best location ever to be made available at the Jackson Hole Mountain Resort.
After the location, the next ingredient would be the experience. Jackson Hole was recently rated number 11 in the Top 25 Destinations in the USA by TripAdvisor.com. In their words, “The longest and steepest vertical slope in the United States attracts hordes of serious skiers and snowboarders to Jackson Hole each year. The resort includes the mountain and Teton Village - a lively community of shops, restaurants, hotels and condominiums.
While skiing is certainly a major winter pastime, Jackson's unique location, at the base of the majestic Grand Tetons and close to both Grand Teton National Park and Yellowstone National Park, offers natural splendor and outdoor adventure all year long. From hiking, biking and rafting to fly fishing and golfing, where to start is the hardest part.” With a private residence club as your base camp each year, the summer experiences are endless.
Beyond the many extraordinary experiences, a Residence Club is still a second or third home away from home. To indulge in these countless experiences, you need a base camp and a retreat to start and end each day. Teton Club Members own a luxurious, fully-furnished two or three bedroom residence with gourmet kitchens, nine-foot ceilings, stone fireplaces, claw foot tubs, and slate flooring. There are complete kitchen and dining areas and the most modern amenities. Bedrooms boast the finest linens, warm colors and big, comfortable beds, plus a spacious master bath. Each home also features a large balcony linking to the never-ending vistas of Wyoming.
Fractional ownership in a private residence club and the experiences here become intertwined.
While all these features and benefits do make for a great residence club, there is a secret ingredient that will make or break the perfect mountain residence club and lifestyle.
That secret ingredient is the service.
Lawrence Hefler is principal of BrandShares International – a branding, marketing, and sales consultancy that helps hospitality, leisure real estate, and shared ownership companies find, keep, and grow customers worldwide. He can be reached at hefler@cfl.rr.com
13/11/08
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