Granby Real Estate: Vacation ownership company to build resort at Grand Elk
February 24, 2008
Wyndham Vacation Ownership is gearing up to begin construction of a 44-unit vacation ownership resort on land it acquired at the Grand Elk Ranch and Club community in Granby.
On Jan. 8, the company announced its acquisition of land from Grand Elk, LLC. The planned resort will operate under the company’s WorldMark by Wyndham invested resort securities and will be known as WorldMark Grand Elk. Doors are anticipated to open to owners and their guests by summer 2009, with construction expected to begin this summer.
Wyndham Vacation Ownership, which is a member of the Wyndham Worldwide family, is the largest vacation ownership company in the world. Once complete, the resort will be Wyndham’s fifth in Colorado (along with its WorldMark resorts in Steamboat Springs and Estes Park, and Wyndham Vacation Resorts in Durango and Pagosa Springs). It also has sales centers based out of Broomfield, Colorado Springs and Englewood.
“Our owners have diverse interests, therefore we are committed to provide them with world-class resorts in a variety of desirable destinations,” said Franz Hanning, president and CEO of Wyndham Vacation Ownership. “With the addition of WorldMark Grand Elk and our recently opened resort in Red River, N.M., we continue to develop a well-rounded portfolio of ski destinations to complement our many urban, mountain and coastal resorts for our more than 250,000 WorldMark owners.”
The resort will encompass a myriad of studio, one- and two-bedroom condo-style units, as well as several “beautifully appointed” three-bedroom presidential suites. Each will feature a full kitchen, living and dining rooms (with Murphy beds in the living rooms), flat screen TVs in the master bedroom and living room, entertainment systems which include a stereo and VCR/DVD player, in-unit washers and dryers, and barbecue grills out on the deck overlooking the alpine landscape.
The presidential suites also highlight stainless steel appliances and granite countertops in the kitchen, upgraded fixtures, whirlpool bathtubs, hardwood flooring in the common areas, and fireplaces to warm guests on brisk winter nights.
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Amenities scheduled for the area include outdoor adult and children’s pools, spa and hot tub, picnic/barbecue areas, exercise room, chidrens’ play area, and a business center, which will have computers and a printer for owners to use. Owners are also invited to enjoy discounts at the nearby Grand Elk Golf Course.
Vacation or timeshare ownership allows groups of people to share ownership of a property by dividing rights to the property for scheduled time frames. Professional management companies handle the management and upkeep while the owners share the cost.
Ownership may take one of the two following forms: deeded or right-to-use. In deeded ownerships the buyer receives the right to occupy a unit in a property in perpetuity. In right-to-use ownerships, the buyers receive the right to occupy a unit in a property for a determined amount of years.
“Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands: Wyndham Vacation Resorts, WorldMark by Wyndham and Wyndham Vacation Resorts Asia Pacific.”
As of July 31 of last year, Wyndham Vacation Ownership, headquartered in Orlando, Fla., developed/acquired more than 135 vacation ownership resorts throughout the U.S., Canada, Mexico, the Caribbean and the South Pacific representing more than 17,000 individual units and more than 800,000 owners of interests.