Teton Club at Jackson Hole Mountain Village, purchase advice

[Clever_Name]

After staying at the Teton Club several times over the years through a relative's time-share club, I've gotten very interested in buying two ski-weeks. I would like to ski there every year for the next 10-15 years.

My investigation so far: I have corresponded with a realtor in JH who states that the Teton Club is deeded fractional ownership and that the units can be rented through the Club. The maintenance fees are high, but less than many HOA -- plus, far below the cost to rent a premium location ski-in-out condo in a major ski area.

My concerns are sales price and re-sale. Two ski week packages are advertised on real-estate sites in the low to mid-six figures - are these prices realistic? More importantly (to me), is there a re-sale market for what amounts to a six-figure timeshare, if it is "premium" or high-end enough? Condos and single family houses in this neighborhood just a few steps away start at $2M and go up to eye-popping eight-figure prices. I plan to pay cash and I don't care a ton about appreciation, I just don't want to get stuck with losing a huge part of what I paid initially.

 

[sponger76]

After staying at the Teton Club several times over the years through a relative's time-share club, I've gotten very interested in buying two ski-weeks. I would like to ski there every year for the next 10-15 years.

My investigation so far: I have corresponded with a realtor in JH who states that the Teton Club is deeded fractional ownership and that the units can be rented through the Club. The maintenance fees are high, but less than many HOA -- plus, far below the cost to rent a premium location ski-in-out condo in a major ski area.

My concerns are sales price and re-sale. Two ski week packages are advertised on real-estate sites in the low to mid-six figures - are these prices realistic? More importantly (to me), is there a re-sale market for what amounts to a six-figure timeshare, if it is "premium" or high-end enough? Condos and single family houses in this neighborhood just a few steps away start at $2M and go up to eye-popping eight-figure prices. I plan to pay cash and I don't care a ton about appreciation, I just don't want to get stuck with losing a huge part of what I paid initially.

I don't know about the JH market or the Teton Club specifically, but ski weeks in other prime ski areas regularly sell in the low-to-mid 5 figures on Redweek. Some fractionals might go in the 6 figures, like Ritz-Carlton in Vail/Aspen.

 

[Clever_Name]

Clarification: The prices for two premium ski weeks are 100K-150K (not mid-six figures - what I wrote might be confusing).

 

[sng85]

My concerns are sales price and re-sale. Two ski week packages are advertised on real-estate sites in the low to mid-six figures - are these prices realistic? More importantly (to me), is there a re-sale market for what amounts to a six-figure timeshare, if it is "premium" or high-end enough? Condos and single family houses in this neighborhood just a few steps away start at $2M and go up to eye-popping eight-figure prices. I plan to pay cash and I don't care a ton about appreciation, I just don't want to get stuck with losing a huge part of what I paid initially.

Not surprising. 2 bed ski weeks are slightly lower than the 3 bed. I’m assuming your 100k-150k price is for a 3 bed? It’s not a stretch if even 2 beds are now over 100k given the cost of real estate in Teton Village is now well over $2k/sqft.
You can typically save on the initial cost if your package includes a less desirable off season week for spring or fall.

If you’re curious about the resale market, I would ask the realtor for comps. I saw the comps before I purchased my weeks and it supported the prices I was being quoted at the time.

A couple other points for your awareness/consideration:
- owners get 2 lift tickets for the week of your stay. That’s a true savings and IMO offsets the roughly $3k maintenance fee
- in the summer, golf, tennis, swimming at the country club is included, which is also an offset to MFs if you use the benefit
- TC enjoys a decent rental market as well. The current nightly rate for a 2 bed in ski season is $2,025/night. I’ve rented my unused time through the rental program and even after the commission kept by TC, it’s a substantial rental profit. It could help justify/offset the upfront cost.
- be aware that the weeks are currently reserved via lottery, so you may or may not always get your desired week depending on how popular it is.
- the quality of service, daily housekeeping, etc is on par with the best hotels - Four Seasons level service IMO

 

[Clever_Name]

Not surprising. 2 bed ski weeks are slightly lower than the 3 bed. I’m assuming your 100k-150k price is for a 3 bed? It’s not a stretch if even 2 beds are now over 100k given the cost of real estate in Teton Village is now well over $2k/sqft.
You can typically save on the initial cost if your package includes a less desirable off season week for spring or fall.

If you’re curious about the resale market, I would ask the realtor for comps. I saw the comps before I purchased my weeks and it supported the prices I was being quoted at the time.

A couple other points for your awareness/consideration:
- owners get 2 lift tickets for the week of your stay. That’s a true savings and IMO offsets the roughly $3k maintenance fee
- in the summer, golf, tennis, swimming at the country club is included, which is also an offset to MFs if you use the benefit
- TC enjoys a decent rental market as well. The current nightly rate for a 2 bed in ski season is $2,025/night. I’ve rented my unused time through the rental program and even after the commission kept by TC, it’s a substantial rental profit. It could help justify/offset the upfront cost.
- be aware that the weeks are currently reserved via lottery, so you may or may not always get your desired week depending on how popular it is.
- the quality of service, daily housekeeping, etc is on par with the best hotels - Four Seasons level service IMO

Thanks this is very helpful. The benefits you describe are exactly what we have experienced. Its a great place.

Who did you use as your realtor? I did briefly correspond with an agent at Sotheby's Jackson Hole and asked about resale history, but he did not (or couldn't - I'm not sure) provide me with a resale history of the deeded shares/weeks at the Teton Club. My wife and I are older avid skiers. Probably the only thing holding us back is the fear that we invest $100K+ and later cannot sell the weeks in several years if we no longer ski - but it sounds like the Teton Club does have a legit resale market, yes?

 

[daverunfast]

Yes, Teton club is a hard one to get. Which vacation club has your relative booked it through? Raintree has some time, but I've never seen any availability

 

[Clever_Name]

Yes, Teton club is a hard one to get. Which vacation club has your relative booked it through? Raintree has some time, but I've never seen any availability

Previously through Diamond, as an affiliate. However, no longer with Diamond. And, yes it was difficult to get.

 

[Marathoner]

As an avid skier and timeshare owner, I have some thoughts on this.

- 150k for 2 winter non-holiday weeks is overpriced. 150k for, say, fixed week 7 & 8 - I would go for it. Not for a floating winter week lottery
- Jackson Hole timeshare market is very small so the seller/broker has information advantage and usually time is on their side
- Jackson Hole is a great mountain, but I think Snowbird is comparable in terms of challenge & snow and Vail is an acceptable alternative due to its size, accessibility, and amenities. Snowbird Cliff Lodge is much cheaper. Ritz Vail is lower for 15k points resale but you get more booking options in the Marriott Abound/DC points system. The resale market for both is reasonably transparent and mature so you can have confidence that you will sell near your purchase price. For Jackson Hole, I don't have confidence because their transaction history for timeshares is so opaque.

If it has to be Jackson Hole, you just need to go for it although I would work with multiple brokers and give them my requirements in terms of price below this level and work them for the next year to close with an owner that needs to sell so is willing to negotiate. In these markets, listings can be exclusive.

I have a surgeon friend who used to ski at Jackson Hole but no longer and only skis at Snowbird now. The Jackson Hole airport is very small and he could not fly out for 2 days due to the weather for an emergency surgery he needed to perform. Whereas Salt Lake City airport is much more likely to stay open during inclement weather.

Some of the Teton benefits mentioned above are not a factor in my view. I buy season tickets for my family, so additional lift tickets seem like a marginal benefit to me. Especially when Jackson Hole is on the Mountain Collective at $500. And I don't care whether my housekeeping is at the Four Seasons level or Sheraton level. I've experienced both and it just doesn't matter to me. Jackson Hole is four times busier and more crowded during the summer than winter and it gets manic. Do you really expect to use the country club benefits in the summer?

 

[sng85]

- but it sounds like the Teton Club does have a legit resale market, yes?

As far as I can tell - yes there is demand for especially ski weeks. For future pricing however, that’s impossible to predict. Best to look at the previous transactions, perhaps even going back 3 years to see where the volume and pricing has been. You’ll get an idea of where the market is clearing.

The realtor that provided me comps was with Compass Realty. If I can find his email, I’ll PM it to you.

The poster above has some good suggestions/food for thought as well. I don’t use it in the way they do or value the same things. Really comes down to how you plan to use and what you place value in.

 

[Binspira]

Clever - I just sent you the local agent who knows TC well. I almost purchased yet my current timeshare is working well. We love going to Teton Club yet go during the shoulder season. When you purchase at TC you need to purchase 2 weeks minimum.

Good luck..

 

[Clever_Name]

As an avid skier and timeshare owner, I have some thoughts on this.

- 150k for 2 winter non-holiday weeks is overpriced. 150k for, say, fixed week 7 & 8 - I would go for it. Not for a floating winter week lottery
- Jackson Hole timeshare market is very small so the seller/broker has information advantage and usually time is on their side
- Jackson Hole is a great mountain, but I think Snowbird is comparable in terms of challenge & snow and Vail is an acceptable alternative due to its size, accessibility, and amenities. Snowbird Cliff Lodge is much cheaper. Ritz Vail is lower for 15k points resale but you get more booking options in the Marriott Abound/DC points system. The resale market for both is reasonably transparent and mature so you can have confidence that you will sell near your purchase price. For Jackson Hole, I don't have confidence because their transaction history for timeshares is so opaque.

If it has to be Jackson Hole, you just need to go for it although I would work with multiple brokers and give them my requirements in terms of price below this level and work them for the next year to close with an owner that needs to sell so is willing to negotiate. In these markets, listings can be exclusive.

I have a surgeon friend who used to ski at Jackson Hole but no longer and only skis at Snowbird now. The Jackson Hole airport is very small and he could not fly out for 2 days due to the weather for an emergency surgery he needed to perform. Whereas Salt Lake City airport is much more likely to stay open during inclement weather.

Some of the Teton benefits mentioned above are not a factor in my view. I buy season tickets for my family, so additional lift tickets seem like a marginal benefit to me. Especially when Jackson Hole is on the Mountain Collective at $500. And I don't care whether my housekeeping is at the Four Seasons level or Sheraton level. I've experienced both and it just doesn't matter to me. Jackson Hole is four times busier and more crowded during the summer than winter and it gets manic. Do you really expect to use the country club benefits in the summer?

Great info! I appreciate all the insight. Decided to go with JH for several reasons. Wife and I are also avid skiers (20-30 days/year) have bought the Mountain Collective for years now. Our home hill is Snowbird/Alta (14+ days annually if you include Alta next door), and have stayed at the Cliff Lodge several times. We get to Vail every 2-3 years for a few days.

The Teton Club has some unique advantages over the Cliff Lodge and The Ritz (in my opinion). The first is location. The Teton Club is located in the center of the Village, directly under the Tram and next to the Gondola, you literally walk outside and start skiing. Location does not get better, anywhere. Real Estate prices in the Village are nuts. And I've gotten the sales history on the Teton Club from a local Realtor. Fortunately, there's been appreciation over the years. There's been "more" appreciation during the recent bubble, but there was appreciation even before that.

At Snowbird it is difficult to find anything to do after 5-6 PM -- that place becomes a ghost town. I LOVE Snowbird for skiing, but its a snooze fest at night and its no fun driving down and up the canyon after dark.

The Ritz... well, I'm sure its nice. I just spent a day at Beaver Creek and skied to The Ritz for a 4pm after ski drink. $55.00 for one beer and one cocktail for me and my buddy. Need I say more?

The Teton Club units we are looking at come with two transferrable ski passes, each and friends/family can use them. A week at any MC resort (figuring average price after factoring in the "free" MC days, then 1/2 price) is still a few hundred of dollars.

Anyway, to end this long and boring story - I want to thank everyone for their insight. We feel relatively comfortable purchasing, as the Teton Club seems much more "legit" than the experiences I am reading about for the more traditional timeshare products.