The first building of a new village at the base of the Stowe ski mountain. The resort is owned by AIG.
A mixed-use building comprised of fractions and condo-hotel units that was designed from the ground up with Star guiding the fractional component. AIG was the developer and Destination Hotels the manager for the condo-hotel and fractions. AIG had spent many years meeting Vermont’s tough permitting requirements, and the village’s development would be evidence that their 50-year ownership of Stowe could pay off in more than lift ticket sales.
Star and the condo-hotel company put together separate sales teams in a common facility with cross training and ‘turn-over’ financial incentives for the extensive presale period. The project was late in getting registered in key states, so most leads were generated from skiers on site. Star aggressively solicited customers of the resort through the two-day lodges and the town to Stowe some miles away.
Phase one fractional sales exceeded projections and a conversion rate of seventy [70%] percent was achieved from reservation to hard contract.