Berry on Fractions & Shared Ownership: April 2009

Monday, April 13, 2009

April 2009

Launch a new fractional resort project now? You Bet!

There are contrarian investors, salmon swimming up stream, walking to a different drummer; all variations on the theme of not following the herd.

Star is launching a fractional real estate project in Whitefish Montana. Our team believes this is the moment in time for this product in this place and at the pricing we intend to offer. We have taken over a nascent offering and are in sales as of today.

The consensus of many in the resort business is that fractional real estate will be the product of choice as the market returns. We don't plan for a robust summer selling season, but we do plan to make the necessary sales to lead us into the ski and summer seasons of '09 and '10, and then really go to town with sales.

Whitefish Montana? Google it. We are right on Whitefish Lake, as in 20 feet from the water! Lakefront prices are still at $20,000+ a frontage foot.

We are right next to the premier resort in Montana, The Lodge @ Whitefish Lake. The Lodge itself a very successful condo hotel facility with a top lakeside restaurant and bar, spa, fitness center, marina and boat club with 85 slips, conferencing facility, etc. Our owners have access to all Lodge amenities as well as preferred access to Whitefish Mountain Ski Resort 10 minutes away. And all of this just 30 minutes from the West entrance of Glacier National Park, celebrating its Centennial. Montana real estate at it best!

This project is a venture of Vacation Whitefish, LLC and Star Resort Group, LLC.

Star has never been one to sit and mope. Are our frustration levels high with our currently selling projects? You bet! But, they will come back and we will continue to move on.

How many metaphors can Carl use?

About Carl Berry

Carl Berry is CEO of Star Resort Group, which is the nation’s oldest and most respected fractional/private residence club developer and marketer. Star is headquartered in Bozeman, Montana.

Star’s current projects are located in St Simons Island GA, Saratoga Springs NY and Windham Mountain NY. Completed projects are located in Lake Tahoe CA, Snowmass CO, Steamboat Springs CO, Cave Creek AZ, Pinehurst NC, and Stowe VT.

Carl was the founder of The World’s Finest Resorts, the leading luxury exchange company acquired in 2005 by The Registry Collection a unit of RCI.

Shared ownership projects have been the focus of Carl’s development career for 40 years. He brought to market the first, fee ownership timeshare project in the World, in 1973 located at Brockway Springs, Lake Tahoe CA.

The Manhattan Club, New York City is the largest urban timeshare project in the World with 242 luxury apartments. It has completed sales. Other urban timeshare projects developed by Carl are located in San Francisco and New Orleans.

Timeshare projects, in the Western United States, are located in Lake Tahoe CA, Sun Valley ID, Vail CO, Sunriver OR and LaJolla CA.

Holiday Clubs International was the first multi site hotel program, which was a venture with Holiday Inns using company owned properties from Bermuda to Hawaii.

He is a former Chairman of ARDA and a member of its Board for over 18 years. Previously he served a Chair of the ARDA International Foundation Educational Institute, Chair of the Meetings and Membership Committees and Chair of the National Timeshare Council.

Carl is a founder and director of the Meritus College Fund, nonprofit providing four-year college scholarships, a National Board Member of the Lionel Hampton Center Initiative for the University of Idaho, a former president of the University of Idaho Foundation and a former president of the Alumni Association. He was recently named to the University of Idaho Hall of Fame.