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The Ritz-Carlton Bachelor Gulch project included two distinctly different residential products. The Penthouse Residences above The Ritz-Carlton included 23 ski in /ski out luxury penthouse residences ranging from two to five bedrooms. These units were sold on a whole ownership basis in December 1999. Over 100 offers were submitted for the 23 residences which were sold in one day. The residences are located on the upper floors of the hotel and enjoy access to all of the hotels amenities and services. The units were also packaged with membership to the Bachelor Gulch Club, a resident's only club for the Bachelor Gulch planned community.
The Athens Group also developed the Ritz-Carlton Club, Bachelor Gulch on a parcel immediately adjacent to the Ritz-Carlton Hotel. This 54-unit luxury condominium building consists of a mix of two and three bedroom units and was marketed as a fractional ownership vacation residential product. These units achieved substantial price premiums and sold out substantially faster than the pro forma absorption period.
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