Ski Haus ices timeshare plan | AspenTimes.com
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Ski Haus ices timeshare plan

Janet Urquhart

The Little Red Ski Haus, poised a year ago to become Aspen’s newest – and smallest – player on the timeshare market, has backed away from that plan.Fractional shares in the historic lodge are no longer being marketed and none have been sold.”We’re kind of putting on ice the sale of fractionals,” said David Fiore, managing partner for a group of investors who purchased the lodge in late 2001. “For a small lodge like us, to get into fractionals is really out of our bailiwick.”A year ago, the City Council approved a plan to sell shares in the East Cooper Avenue lodge, with prices ranging from $40,000 to $120,000 for a one-sixteenth share, or three weeks at the Ski Haus.At that time, Fiore said running the Little Red Ski Haus as a standard lodge was not a profitable venture, but the lodge’s fortunes have been steadily improving as word of the new and improved Ski Haus gets around, he said.”One of our goals is to shift some of our debt off the lodge. Fractional sales are just one way to do that,” he said. “Obviously, it would encumber the property the minute we pull the trigger and start selling fractions.”The lodge’s owners are exploring other options, but have a list of potential buyers who expressed interest when the fractional-ownership arrangement was on the table.”I think there was sincere interest,” Fiore said. “We’ve had repeated calls – ‘Are you selling them yet?'”After purchasing the funky lodge, Fiore and his business partners undertook a $1 million-plus renovation of the property that was later said to be closer to $2 million by the time it was done.Tired rooms and the front parlor were completely overhauled and the Prospector’s Cellar, a basement bar/lounge, was created by excavating below the 1888 house. A hot tub was added to a back deck. A lodge that once had 21 rooms and 10 bathrooms was converted into a 13-room lodge, including a pair of bunk rooms. Each has its own bath.The Victorian-style rooms feature antique furnishings and modern amenities, such as Internet hookups. Janet Urquhart’s e-mail address is janet@aspentimes.com


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