Marriott unveils new brand

Marketing of former ASC property begins

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— On Monday, the day American Skiing Co. announced it was once again free to close real estate sales at the Steamboat Grand Hotel, a division of the Marriott hotel chain revealed a new brand created to market a former ASC Grand Summit hotel near Lake Tahoe, Calif.

Marriott purchased the development rights to the Grand Summit near Heavenly Ski Area earlier this year.

The new division of Marriott will be called Marriott Grand Residence Club. It is a part of Marriott Vacation Club International. The 199-village quarter-ownership property is adjacent to the Heavenly Ski Resort and another Marriott project, Timber Lodge. Both resorts are targeted to open in November 2002.

Marriott and American Skiing go back to at least July 1998 in Steamboat, when the parent company of the Steamboat Ski Area announced its intent to sell a piece of undeveloped land to Marriott Vacation Club. The hotel chain intended to develop a 200-unit luxury hotel through its time-share division.

Marriott's plans for Steamboat were part of a deal that involved other American Skiing resorts. The exact site for the hotel was not revealed at the time of the announcement and a Steamboat spokesman said it was dependent on the result of the ski area's efforts with the city of Steamboat Springs to create a master plan for redevelopment of Steamboat's base area.

The plans for the Marriott property never went forward.

At Heavenly, Marriott is selling shares of the Grand Residence Club at prices ranging from $83,900 to $550,000 for studio, one-, two- and three-bedroom units. The ownership structure gives owners one week every 28 days, plus a consecutive two-week period once every fourth year.

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