- Joined
- Sep 10, 2006
- Messages
- 135
- Reaction score
- 10
- Location
- St Petersburg, FL
- Resorts Owned
- Powder Ridge Village
Last year was pretty bad. Just wondering if there are any signs of improvement?
We own a condo in Keystone that is investment related as well personal use. We have rented a week in Christmas and week in March.
Last year we reduced our rates by 30%, this was driven by the economy and VAIL Resorts reducing their rack rates. We do use Vail Resorts as a management company, but like timeshare weeks - we must be competitive.
Vail Resorts have RAISED their rack rates this year by 30% to 45%, so we have raised our rates also. Last year I did not have Christmas booked until November and it was at half of what it rented for this year.
Skiers often tend to book 4 weeks prior to their dates, depending on your location. If it is a destination resort, they book earlier, a resort that can be driven to from larger areas - they book closer to check in date.
We tend to see alot folks from Colorado, Nebraska and surrounding states call within 4 weeks of check in.
Most of the units Vail Resorts is discounting are units that are on the bus route, smaller studio/one bedroom and are silver or bronze units. If you want a nice, gold rated, 2 bedroom unit, within walking distance to the slopes - it will cost at least $650 and up per night during weeks 51-52. In March it will cost a minimum of $489 per night - these are 2 bedroom, Gold rated units within 150 yards of lift or Gondola. These rates are definitely an increase since last year - the silver rated, smaller, bus route units can be had at a much lower price. Vail Resorts always discounts these types of rooms - but even these rooms are higher this year. Last year you could rent a silver, one bedroom at times for $99 a night!
With the rate increases, I think it will also translate into timeshare ski weeks being easier to rent with higher rates then last year - IMO
I know we are not giving our unit away, we will hold out for higher rates, as it gets closer to check in dates - I will discount.
We are giving early booking discounts - but these are of course based on the new nightly rates - still a great savings compared to booking directly with the resort.
I would say try to get the higher rates - you can always lower your prices if needed - once it is rented, you lose your chance for a higher rate.
$650 for 2br walk to the slopes week 51-52 or 489 in March. That's not bad.
I'm set with my CO week until 2012, so I don't have to worry about renting. Thank goodness.
There might have been some confusion, it is at least $689 per night, or $4823.00 per week before taxes - actually for a nice 2 bedroom within 75 yards of lift or Gondola it is a minimum of $ 789 per night or $ 5523.00 per week, week 51-52. In March it is closer to $550 per night or $ 3850.00 week for a Gold rated condo within 75 yards of lift or Gondola. The rates go up or down according to distance from lift...
Vail Resorts really does get these rates - makes any nice timesahre that is close to the slopes a great option for renters. Of course, like I said the futher you get away from the mountain - the lower the rates get.
Sorry for the confusion.