The slightly higher costs of a condo-hotel unit can be offset by renting it out when it is not in use through the hotel’s management company, as Savage does with one of his two units. “Most people don’t rent their vacation homes out,” he observes. “Because of that, the only return they are looking at is through real estate appreciation. Here, we’ve got rental income coming in from one of our condos, which is great.”

In addition to rental income, Savage is enjoying significant appreciation in the value of his condo units. According to Ogilvy, resales at the Village at Squaw Valley USA have averaged 20 percent over the original purchase price. “This is a good option for those who place a higher priority on investment, because you realize equity growth similar to traditional second home ownership.”

More Than a Time-share
Savage enjoys skiing on water as much as on snow, so last year he purchased a 1/7 share of a waterfront home on the north shore of Lake Tahoe. This property is part of a residence club development known as Tonopalo, and, like his condos, is managed by Intrawest. “We wanted a summer place, but most of the properties on Lake Tahoe list for millions,” says Savage. “We paid $400,000 for a fractional share of a $3 million lakefront home that we can use for six weeks out of the year, which is as long as we would use it anyway. It has a private beach and a boat dock, and you are sitting on the lake, all for $400,000. With all this,” he enthuses, “why would you buy a complete home?”