The unique quarter-ownership concept has made ski-on/ski-off vacation home ownership a real estate phenomenon at some of the best-known ski mountain resorts in the country. Quarter-ownership is a logical choice for many families mindful of affordability, convenience and amenities. The following is information about the benefits of quarter-ownership at The Grand Summit Hotel at Mount Snow.
What is quarter-ownership?
When you purchase at The Grand Summit Hotel at Mount Snow, you own a fee simple deeded condominium for usage of every fourth week, forever, for 13 weeks each year.
Will I receive the same 13 weeks each year?
Weeks are on a pre-determined schedule on a rotating basis. For example, the first year you may have the first week of each month. The second year, the second week, etc. Every owner will have the most sought-after times, such as Christmas, New Year’s, and President’s week once every four years so that no single interval quarter would have an advantage over the others.
Is this a timeshare?
The concept of quarter-ownership uses the best aspects of timeshare vacation exchange, ease of ownership and flexibility, and combines them with the best aspects of typical second home ownership such as tax benefits, legally-deeded property and the certainty of how you will spend vacation time for the coming years.
Why do I need 13 weeks when I only vacation 2 weeks a year?
Although most people do not have 13 weeks of vacation time during the year, most owners benefit from each week in one of three different ways:
- Use your Grand Summit Hotel unit for any or all of your ownership week
- Participate in the optional rental program
- Participate in the optional Space Available Program
- Exchange your week into the optional Resort Condominiums International (RCI) program and vacation around the world
What is RCI?
Resort Condominiums International (RCI) is the world’s largest vacation time exchange company. With more than three million families banking time at over 4,000 resorts worldwide, you can use your week at Mount Snow to acquire lodging around the world at a fraction of the cost of a week’s stay in a fully-furnished condominium. And because The Grand Summit Hotel at Mount Snow is an RCI Gold Crown property, you can exchange your time for the best properties that RCI has to offer. For more information about RCI, click here to visit their website.
What if I want to stay at Mount Snow but it’s not my ownership week?
Space Available is one of the best aspects of the quarter-ownership program. If you participate in the hotel’s rental management program, you are able to stay in a comparable unit when the hotel is projected to be less than 90 percent occupied for a nominal housekeeping fee. This is in addition to the 13 weeks that you already own!
What happens if one of the other owners or guests damage my unit?
No problem. Because there is daily housekeeping service, a physical inventory of your unit is taken regularly. So if anything is broken or missing, it will be replaced or repaired.
Is there a homeowners’ association?
Yes. The Grand Summit Owner’s Association is governed by a volunteer Board of Directors who are owners as well; they uphold the Association’s By-Laws, provide rules & regulations, administer the budget and hold the annual and budget meetings. Your monthly dues are allocated toward utilities, cable TV, trash removal, landscaping, staff, and capital improvements administered by the Owner’s Association.
Why purchase quarter-ownership at The Grand Summit at Mount Snow?
Ownership at The Grand Summit Hotel is the only true ski-on/ski-off location at Mount Snow. In addition to this benefit, the Mount Snow valley offers a variety of activities year-round.