Word: hyatt
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...latelies, followed by the tourists--who are vermin in most resort towns. But in Aspen, the bottom slot goes to guys like David Massarano, a prosperous real estate attorney from Houston who recently dropped $470,000 for three slices of a one-bedroom condo in the six-week-old Hyatt Grand Aspen, 157 steps from the gondola at the base of Aspen Mountain...
...happy family has been oiling the local economy since he was a kid. But Massarano doesn't mind. "I've been called worse things, being from Texas," chuckles the 50-year-old, who searched Pitkin County for years before finding the deal of his downhill dreams in the sprawling Hyatt, where the ghosts from bacchanals at the torn-down Continental Inn still dance...
...first-class venues stretching from the West Coast through the Rockies to the Gulf of Mexico. More often than not, though, the tab ranges from $300,000 to $750,000 and up in the higher elevations of Lake Tahoe, Calif., Jackson, Wyo., and, of course, Aspen, where the Hyatt Grand has sold nearly half its 1,000 shares, selling for $80,000 to $1 million apiece. Nor is it that much cheaper at sea level at Ritz-Carlton residences in St. Thomas, U.S. Virgin Islands, and Jupiter...
...market in 2004 generated $1.5 billion in sales, triple 2003's, according to Ragatz Associates, a consulting and market-research firm in Eugene, Ore. That kind of volume is beginning to pay off for the hospitality industry's big guns--Ritz-Carlton, Four Seasons, Starwood, Hilton, Marriott and Hyatt, among others--which have bottle-fed the fractionals concept for more than a decade. The motivation? Financing expensive hotel projects is easier and far more lucrative this way. "The time-share business has been a very good business for these companies because it tends to have high margins," says Bill Crow...
Coming soon: multigenerational spas to accommodate grandfathers with grandsons and grandmothers with granddaughters. Another growth area will be residential spas featuring large hotel rooms designed for in-room treatments, says Gordon Tareta, global director of spas at Chicago-based Hyatt Hotels Corp., which has such rooms at properties in Bangkok, Dubai and Hong Kong. "Boomers who have worked hard for so many years now have the chance to enjoy the ultimate in relaxation and convenience without having to leave their guest rooms," Tareta says. "They're embarking on a whole new generation of luxury, and the men are loving...