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Mar 27, 2017

Tapping Into Timeshare Demand, Colorado Hotel Launching $29 Million Rebuild

One of the largest hotels in the northern Colorado ski resort city of Steamboat Springs has announced plans to convert a substantial part of its property to timeshare space.

The Sheraton Steamboat Resort, located on the southeast side of the city, wants to turn some 188 hotel rooms into 112 timeshares. In so doing, some of the hotel room balconies will be filled in to make more timeshare space.

Altogether some 94,000 square feet of space at the resort is scheduled to be renovated and upgraded.

Purchased in 2007 by the Stamford, Connecticut-based Starwood Hotels and Resorts, the Sheraton Steamboat currently has 244 hotel rooms, 22 condominiums, and 21 timeshare units.

The renovation project, set to launch later this spring, is expected to cost at least $29 million.

According to industry statistics, timeshare sales nationally are booming, with more than $8 billion in such properties sold last year. With well-known hotel chains such as Marriott, Hyatt, and Ritz-Carlton entering the field, timeshares are increasingly being marketed to younger vacation-goers.    

 

By Garry Boulard

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