Grand Summit gets new name
The Grand Summit has a new name – the Marriott Grand Residence Club.
The Marriott Vacation Club renamed Monday the major component to the Park Avenue Redevelopment Project at Stateline. Marriott bought the development rights for the hotel-condominium project in May from Heavenly Ski Resort’s parent company, American Skiing Co.
“The product is virtually unchanged,” said Ed Kinney, senior director of branding and public relations. “(American Skiing) should be commended for (its) vision in developing the concept.”
The Grand Residence Club is a branding first for the company based in Orlando, Fla.
The 199-villa quarter-ownership project has amenities that fall between its Ritz-Carlton Club luxury properties and its flagship Marriott Vacation Club product.
The hotel includes a health club, outdoor heated pool and spa, ski equipment check room and retail shopping as well as valet parking.
“Our objective is to offer consumers a variety of vacation experiences to best suit their needs. With the addition of Marriott Grand Residence Club, it offers another tremendous alternative to second home ownership,” Marriott Vacation Club President Stephen Weisz said in a statement.
At a minimum, the Grand Residence Club grants one week of property rights to each fractional owner every 28 days and two consecutive weeks including Christmas and New Year’s every fourth year. However, an owner may elect to buy half or whole ownership privileges.
For a quarter share, prices range from $83,900 to $550,000 based on the unit. Floor plans on these units vary from 360 to 2,500 square feet.
About 500 owners had signed up for the units at the time Marriott bought the rights, Kinney said. He declined to discuss the ratio of local and out-of-town buyers.
The hotel is due for completion November 2002, along with the Marriott’s traditional time-share hotel – the Timber Lodge.
Located about 400 feet away, on the other side of the Heavenly Gondola, the Timber Lodge offers 260 units, each costing up to $44,000 for one week a year.
“Together, (the projects) complement each other very well,” Kinney said.
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