I recently had the pleasure of assisting a couple of clients in the purchase of condominiums at the luxurious Ritz-Carlton Bachelor Gulch. And let me tell you, the property was breathtaking. Before I dive into the details of the property, let me first give you a bit of the backstory…
Back in 2006 the ownership group at the Ritz-Carlton Bachelor Gulch made a decision to take a portion of the hotel rooms and convert them into 50 condominiums. Upon completion of the conversion 26 of the 50 units sold and closed. Due to the climate in the overall economy the ownership group opted to remove the remaining 24 units from the market and place them into the hotel’s rental program.
Fast forward to January of 2015… Due to constant and continued demand, the ownership group made the decision to finally list the remaining 24 units at extraordinary pricing. On average The Residences at the Ritz-Carlton Bachelor Gulch are listed at less than $1,000 per square foot. Competing properties in Vail are currently selling for over $2,000 per square foot. Folks, this is truly an opportunity that seldom comes around.
For those not familiar with the property, it was recently named The Best Ski Hotel in the World by the World Ski Awards. Beyond its 180 guest rooms, the property features Wolfgang Puck’s 4,400 square foot Spago fine dining restaurant. After dining or after a day on the slopes, the Bachelor Lounge is the place to unwind. Whether it be with a glass or wine, a fine spirit or a nice cigar. The hotel also boasts a fabulous Spa that was named the Number 1 Spa in the U.S. The spa features 19 treatment rooms, a grotto and full nail salon.