Condo-Hotel Ownership at Teton Mountain Lodge in Jackson Hole

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Condo-Hotel Ownership at Teton Mountain Lodge in Jackson Hole By Expert Author: Caroline Kelm
View Summary \| Submitted: 2008-08-21 \| Word Count: 415 words

The Teton Mountain Lodge has 145 guest rooms and suites and is located steps away from the gondola at the Jackson Hole Mountain Resort. Completed in 2002, the ski-in/ski-out hotel was built with lodgepole pine beams and board-and-batten siding for that true lodge feel. Equipped with a restaurant, bar, spa, fitness center, event room, a 22-person outdoor rooftop hot tub, indoor and outdoor pools, concierge services and more, the hotel can meet just about any need a guest may have.

With impeccable service, luxury amenities and elegant Western design, many hotel guests have no idea the units are actually individually owned and that they function as a condo-hotel. What this means is that each unit is owned; however, they are typically rented nightly as a hotel room while the building functions as a full-service hotel. Each owner can choose to enter their unit into the rental pool, where is it run by the hotel management company, in this case Terra Resort Group. An on-site property management company, Teton Mountain Lodge Property Management Company, oversees all of the owner concerns, including maintenance, quarterly owner statements, as well as acts as the liaison between the owners and the hotel management company. With this type of product, buyers can purchase a condo in Teton Village while having the ability to offset the cost of owning by renting it nightly to hotel guests.

The business model works well because the goal of the owners and the goal of the hotel management company is the same, to earn as much revenue for the Teton Mountain Lodge as possible. Another unique feature of the property, which helps maximize the profit, is the lock-off capability which many of the units contain. This allows the hotel management company to increase the rental configurations creating more revenue.

The units in Teton Mountain Lodge either have a valley view or a mountain view of the Jackson Hole Resort. There are currently 10 condos on the market listed for sale. A studio unit with a valley view and 441 square feet lists for approximately $565,000 up to $604,500. A 3 bedroom penthouse unit with 2,394 square feet and a mountain view can cost as much as $2,895,000. The HOA fees vary according to square footage ranging from roughly $6,800 to $13,000 annually.

When considering your investment options, condo-hotels are a great property type to consider. It is truly a worry-free kind of ownership that allows your investment to make money or at least off-set your costs of owning.

About the Author/Author Bio

Caroline Kelm is a real estate agent living and working in Jackson Hole, Wyoming. www.searchjacksonholerealestate.com

Article Source: http://www.articlesphere.com/Article/Condo-Hotel-Ownership-at-Teton-Mountain-Lodge-in-Jackson-Hole/160886

Article Tags: real estate, jackson hole, jackson, wyoming, teton village, teton mountain lodge, condo-hotel, real estate, buyer, investment

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