Grand Summit time-share owners content |

Grand Summit time-share owners content

Less than 3 percent of reservation holders of the Grand Summit Resort Hotel at Heavenly opted to rescind their holdings for a $500 bonus before an April 28 deadline. The bonus was offered by the time-share company.

With strong growth in sales, Grand Summit offered to buy back reservations which, in turn, could be sold for more money. The premise was that those people who were having second thoughts about their reservations could make some additional money and the resort could re-sell at a premium.

“There was very little activity,” said Jan Vandermade, director of marketing for Heavenly Real Estate. “Most people chose to hang on to their reservations and are very excited to move forward.”

To date, 65 percent of the Grand Summit inventory has been reserved. Out of that, 45 percent has been from California buyers, mainly from the Bay Area, 16 percent has come from local residents and the remainder has come from out-of-state markets such as Texas and New York.

“Our goal was to sell all of our inventory in four to five years,” Vandermade said. “We have only been selling for 14 months and we anticipate selling out in another 12 to 16 months.”

From one-, two- or three-bedroom units, one-quarter ownership is available. Depending on the size and location, prices range from $75,000 to $260,000 and up.

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