Saturday, July 13, 2024

Private Residence Club View

Owners of luxury fractional property buy a share of a single residence, that provides them with a couple of weeks to thirteen weeks of usage a year. The ownership period varies by development and can be expressed as a fraction (eg 1/10, 1/8, or ¼) or as a number of weeks (eg 5, 6 or 12 weeks).

Private Residence Clubs are the upper tier of the luxury fractional market, providing all the services of a five star hotel together with the ownership.

There are hundreds of fractional and Private Residence Club developments located in city, beach, mountain and resort destinations. Use our home directory to search through these locations.

They are sometimes compared to timeshares, although there are several key differences. For instance luxury fractionals are in better locations, are more luxurious and typically larger, providing 2, 3 or 4+ bedrooms. They also offer true, deeded ownership whereas timeshares usually just offer a "right to use."

This article covers the reasons people buy fractionals and PRCs, and if you're looking to buy read the list of questions to ask before buying your fractional. For easy reference there is a glossary of terms.

The latest news and research on luxury fractionals and Private Residence Clubs is available below.

Timbers Resorts in partnership with Ferruco Vail Ventures will operate and manage The Sebastian, formerly the Vail Plaza Hotel & Club, in Vail, Colorado. The newly renamed hotel and residence club will debut in December this year.

A year ago, we wrote two articles on several "try before you buy" offers at private residence clubs. Well, a year later and there are multiple new offers available. Here's a sampling:

The annual North America survey by Ragatz Associates showed a significant drop of 44% across all shared property types, including fractionals, private residence clubs and destination clubs.

Timbers Resorts has opened One Steamboat Place, its latest luxury resort development at the base of majestic Mt. Werner in Steamboat Springs, Colorado.

Proving that luxury home buyers are still active, The Porches of Steamboat Springs, Colorado, has made six sales; three fractional interests in the Private Residence Club and three whole ownership units, over the last six months.

The Big Apple speaks for itself. New York's Broadway shows, five-star dining, sight-seeing, and world-famous shopping attract the world's best. It is a perfect destination for vacationing as well as providing an exciting place for the busy jetsetter to relax between trips abroad.

The Ritz-Carlton Club sets the bar for luxury in Lake Tahoe. Adding the five star services of the Ritz-Carlton to the North Lake Tahoe area will provide an unforgettable experience that can only be found in a handful of ski-in/ski-out properties in the world. Their newest project is nestled in the Sierra Nevadas and is just a gondola ride away from the Northstar Village.

This new relationship allows owners and prospective buyers at Four Seasons Residence Club Vail to experience Delta AirElite's private jet Fleet Membership program by the hour.

Buying a fractional home or private residence club is a great way to acquire just the right amount of vacation home that you need. But, once that sense of wanderlust sets in it’s nice to have an exchange program available to swap some of your time.

The Lake Tahoe area is one of the most popular vacation destinations in the Western United States. The region offers a wide selection of fractional ownership opportunities.