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Purgatory Lodge
What is Purgatory Lodge?
Purgatory Lodge is a mixed-use lodge which features whole-share condominiums, eighth-share fractional residences and a penthouse-level Private Residence Club, The Pinnacle, located in the best ski-in/ski-out location on the Purgatory village plaza at Durango Mountain Resort. Purgatory Lodge also offers a wealth of club, restaurant, retail and recreational amenities and a level of service that will set a new benchmark for vacation experience at Durango Mountain Resort (DMR).
Why is Purgatory developing this project?
Private Residence Clubs (PRCs) and fractional real estate are the fastest-growing segments of the luxury vacation home industry. Second homes owners at other premier resort destinations such as Aspen, Vail, Telluride, Deer Valley, and throughout the Caribbean and Europe, have enthusiastically embraced this ownership concept because it provides all the advantages of second home ownership at a fraction of the initial and ongoing cost. PRCs and fractional projects typically offer more convenience, a higher level of service, more amenities, fewer hassles, and a “pay for what you will really use” approach.
Is this a timeshare development?
No. Timeshares do not allow you to actually own the underlying real estate…and they have reservation policies that limit the flexibility and accessibility of your vacation usage. Purgatory Lodge owners will have a fee simple deeded ownership interest in their unit. With a maximum of only eight (8) Owners per Residence, vacation use is abundant and flexible and is much more like true second home whole ownership than a timeshare.
What will I own and how will the shared ownership affect my real estate investment?
You will own an undivided 1/8th fee simple interest in a club residence, and the club documents will strictly limit the number of owner interests to no more than eight (8) per residence. If you purchase a Purgatory Lodge fractional you will own a one-eighth share interest in the specific unit of your choosing and you will have six weeks of vacation usage in that same unit each year. Pinnacle Private Residence Club (PRC) owners will also own a one-eighth share interest in a specific unit, but they have access to stay in any of the Pinnacle residences, subject to the reservation policies. You can take title as a corporation, partnership or LLC, as long as one family is designated as the “member” who will control the reservation procedure. Your ownership interest can be mortgaged, willed or resold to anyone you choose, just like any other luxury vacation home.
How will the recreational and club amenities by owned and operated?
The recreational amenities on the lower levels of Purgatory Lodge (the pool, spa, fitness center, treatment rooms, ski valet/lockers, family game room and club lounge) will be owner and operated as The Durango Mountain Club by the master owner’s association at DMR. All fractional owners and Pinnacle PRC owners, along with the other residents of DMR and some local VIPs, will be members of this club…and the dues and fees associated with these amenities will be spread over all the residents of DMR and the local VIPs. The club amenities on the penthouse level will be solely for the use of the Pinnacle PRC members and they will pay for the operations of these penthouse level amenities.
How will I make my reservations?
Purgatory Lodge’s reservation procedures were developed based on the best-in-class reservations procedures of other successful fractional and private residence club projects.
- Fractional unit owners get six weeks of use each year with the actual calendar weeks rotating each year for eight years so that each owner will ultimately have access to every part of the calendar year. With many prime winter and summer weeks in Durango, each owner will get several prime vacation weeks each year. For weeks your family can’t utilize, there is a rental program which will provide your family with rental income, or you can exchange the week through the Registry Collection, for a vacation at any of dozens of other luxury resorts throughout the US and the world. Fractional owners can exchange their assigned weeks with other fractional owners via the Purgatory Lodge website. Fractional owner’s may invite guests to stay in their residence during their assigned weeks, subject to the Reservation Policies and Procedures.
- Pinnacle members will make three types of reservations:
- Planned reservations are the advance reservations you make via a seasonal calendar for up to four weeks per year, two in the Winter Season (November 1st through April 30th) and two in the Summer Season (May 1st through October 31st). Planned Reservations may be made in increments of 3, 4 or 7 days up to 28 total days per year. Planned reservation requests are awarded on a Rotating Priority System which equitably distributes vacation time. In the unlikely situation, when the number of requests for a given time period exceeds the availability of residences, time is allocated on a priority system that rotates between the eight owners of each residence. Priority numbers are also rotated each year so that all eight members get an equal opportunity at the weeks in the highest demand.
- Space available reservations may be made after the Planned Reservations have been completed and distributed to all Owners. Owners can then review openings in the schedule and secure an additional 1-7 days when there is space available. Owners may make as many space available reservations as they would like…and as long as there is space available…but each owner may hold only one space available reservation at any given time. Upon completion or cancellation of each space available reservation, another one can be booked.
- Short notice reservations are intended to accommodate owners who decide at the last minute to visit The Pinnacle. These reservations may be made for 1-7 days of stay up to ten days prior to the desired arrival date, and are processed on a first-come, first-reserved basis. Similar to space available, Owners may make as many short notice reservations as they would like…as long as there is space available…but each owner may hold only one short notice reservation at any given time.
Pinnacle owners can exchange their confirmed planned reservations with other Pinnacle owners via the Purgatory Lodge website. Pinnacle owners may request a specific residence for their planned weeks and this request will be granted if the residence is available during the requested timeframe. Pinnacle owners may also invite guests on an unaccompanied basis to use their units, subject to the Club’s Reservation Policies and Procedures.
Can Owners leave their personal belongings at the Purgatory Lodge?
Yes. Purgatory Lodge provides a secure, climate-controlled area within the building for owners to store their clothing and personal items, including outdoor equipment (skis and bikes). Owners’ stored clothing and equipment will be placed in their Residence prior to check-in and will be stored again after checkout.
Who controls the ongoing affairs of Purgatory Lodge?
The Purgatory Lodge Owners’ Association controls the affairs of the building and the residences. Each owner will be a member of the Association and the member-elected Board of Directors of the Association will control the affairs of the building and residences, including the establishment of the annual operating budget.
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