# Banff Rocky Mountain Timeshare... Did they find Gold??



## Jameson18 (Apr 15, 2006)

What is going on in this Resort. For a long time the resales were listed at levels, from as low as $900, to a high of $5,000.00. Now at Redweek and in TUG the listings have doubled to as much as $10,000.00. 
I almost bought there last year and te developer prices were around $5000.00 . Did I miss something?
"is there gold in them hills?"


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## Tacoma (Apr 16, 2006)

It is at he start of a major renovation of the rooms.  Owners are paying about $600 per week for a one bedroom and about $900 a week for a 2 bedroom.  With GST each of my 2 bedrooms is over $1000 in renovations.  I would assume people are hoping values would go up.

Joan


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## Darlene (Apr 18, 2006)

The management company was siphoning off the maintaince fees for years and not doing any repairs or upkeep.  The resort went into bankruptcy about 3 years ago, and the owners stepped up, fired the maintaince company, took over the resorts debts, and started re-building it.  Many owners sold out at low prices during that time, with the new owners taking on the additional assessments.  Now that the resort is back on track, I'm sure the prices are going to go up.  $10,000 US would be $12,500 Canadian - a bit pricey.  It depends if you really want to use or just trade.
Darlene


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## Jameson18 (Apr 20, 2006)

too bad it looked like a good place to pick up a unit for vacation. Banff has changed a lot in the past few years, became more commercial and you really have to go far to get away from the crowds and the built up areas. Maybe its a good thing the prices have gone up, time to look for another spot.


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## barto (Apr 26, 2006)

Darlene said:
			
		

> The management company was siphoning off the maintaince fees for years and not doing any repairs or upkeep.  The resort went into bankruptcy about 3 years ago, and the owners stepped up, fired the maintaince company, took over the resorts debts, and started re-building it.  Many owners sold out at low prices during that time, with the new owners taking on the additional assessments.  Now that the resort is back on track, I'm sure the prices are going to go up.  $10,000 US would be $12,500 Canadian - a bit pricey.  It depends if you really want to use or just trade.
> Darlene



Darlene, it looks like you're talking about what's now know as Banff Gate Mountain Resort (RCI #2119), not Banff Rocky Mountain Resort (1637).

Banff Gate Mtn Resort (BGMR) used to be known as Alpine Resort Haven, and they had the troubles you described.  There haven't been any additional assessments to owners after the initial $1800-ish at the time of the owners buying it out.  We bought there about 1.5 yrs ago and have been generally quite happy with it.  This is the one that's above Dead Man's Flats, just east of Canmore.

Banff Rocky Mtn Resort (BRMR) is the one right inside the Banff National Park, just outside of the townsite.  It's been managed by Royal Host for at least 10 years, which is the same company now managing BGMR.  We've owned at BRMR for about 6 years, maybe 7.  This is the resort that's started a renovation program for all their condo units and implemented an extra fee to owners to pay for it.  Should be finished in 2-4 years, as  I recall.  

Rainstud, I suspect any big increase in BRMR units on here is just a coincidence, that those putting up ads are ones looking for a good price.  If you look around, you should be able to find ones elsewhere for less.  Of course, summer 2-bdrm units still command a premium!

Also, you're right about it getting busier and more commercial in the Banff/Canmore area, but there are still plenty of less-travelled places to go.  Kananaskis Country is our new favorite, but we're still discovering other places off the beaten path even after 10 years of visiting there!

Hope this helps to clarify the situation.

Bart


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## djyamyam (May 16, 2006)

barto said:
			
		

> Of course, summer 2-bdrm units still command a premium!
> 
> Bart



Would a week 25 still be considered prime?  I know the kids aren't quite out yet in AB but they are in other areas.  I know the weather's great but what about demand?


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## barto (Jun 21, 2006)

djyamyam said:
			
		

> Would a week 25 still be considered prime?  I know the kids aren't quite out yet in AB but they are in other areas.  I know the weather's great but what about demand?



I can't imagine this being as good as a July or August week, but it's a pretty good week, IMO.  I'd love to switch our week #9 for a June week, since we don't really ski much.

Bart


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