Ski Haus shares now on market
Aspen Times Staff Writer
Aspen’s Little Red Ski Haus has been offering affordable accommodations to visitors for four decades.
Now, new owners of the quaint bed-and-breakfast are looking to bring that same approach to Aspen’s burgeoning timeshare market.
The bright red Victorian lodge on East Cooper Avenue has launched sales of the resort’s latest timeshare property, offering fractional ownership in 12 rooms for prices that start at $40,000.
A one-sixteenth share of the priciest suite ” two connected rooms that, together, sleep up to six people ” is listed for $120,000. Each share gives an owner three weeks at the lodge.
By comparison, the St. Regis Aspen, the resort’s largest luxury hotel, is offering 28-day fractional shares in two- and three-bedroom suites for $170,000 to more than $1 million.
The historic Little Red Ski Haus is by far the smallest property to offer home ownership through a fractional-ownership arrangement.
The lodge was showing off its renovated rooms, furnished with period antiques, during an open house Tuesday.
Innkeepers actually began receiving inquiries about the timeshare plan as soon as word got out, according to Bev Fiore, one of the lodge’s owners and its business manager.
“The first inquiry I had was on a bunk room, surprisingly,” she said.
A Michigan man who spent about six weeks in one of the Ski Haus bunks last winter has expressed interest in a $40,000 share in a bunk room, Fiore said. The lodge has two of the rooms; each contains four beds and a bathroom.
The lodge will be taking reservations for shares while it finalizes the schedule of weeks in which owners may use the rooms, according to broker Hedy Longworth of Mason and Morse Real Estate.
Interests in the three original bedrooms in the house, atop a winding staircase, are priced at $64,000 apiece. A group or family could acquire the set for $192,000 per share.
Other options include three rooms priced at $56,000 per share, and three rooms that can sleep up to four individuals for $80,000 per share.
“I think this is going to sell well. That’s just my opinion,” said Debra Goldstein, a broker with Frias Properties who toured the lodge this week. “I think it’s adorable and I think it’s absolutely reasonable.”
The trio of historic front bedrooms for $192,000 will be an attractive option, predicted Lane Schiller, also a broker with Frias Properties.
“You basically have the whole upstairs,” he said. “You could have a nice, family-sized retreat.”
The rooms don’t include kitchens, but each has a private bathroom. Breakfasts are served in the Prospector’s Cellar, a dining room that also features a bar for apres-ski gatherings.
Annual maintenance fees of $1,300 per owner are anticipated.
A group of investors led by Chicago attorney David Fiore, Bev’s son, purchased the Ski Haus from former owner Marge Babcock in late 2001. The group undertook a $1 million-plus renovation of the lodge that was closer to $2 million before it was done, Bev Fiore said.
Tired rooms and the front parlor were completely overhauled and the Prospector’s Cellar was created by excavating below the 1888 house. A hot tub was added to a back deck.
The Ski Haus’ operation as a standard lodge has not been profitable, given its debt, owners told the Aspen City Council earlier this month. The council OK’d the conversion of the lodge to a timeshare property.
Four weeks a year in each guest room will remain unsold so the Ski Haus can accommodate short-term rentals during certain peak periods. In addition, the city requires that guest rooms be made available to the general public when they’re not in use by their owners.
[Janet Urquhart’s e-mail address is email@example.com]
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