In a frenzied world where holidays are more prized than gold, the vacation
home often presents a mixed blessing. For a few restorative weeks each year,
this edifice provides shelter from the storm of daily responsibility. Yet the
majority of the time, it sits empty, an underutilized asset that can require
years to deliver a substantive return in either dollars or enjoyment.
 CONDO-HOTELS, such as these at Lake Las Vegas, Nev., are just one alternative to
owning a standard vacation home.
Such
was the case for Art Savage, majority owner and CEO of the Sacramento River
Cats, a Triple-A league baseball franchise in Sacramento. For several years,
Savage and his wife, Susan, owned a vacation home on California’s rugged Central
Coast near the town of San Luis Obispo. For the Savage family, this retreat
provided much-needed refuge from the hectic pace of life. But as time passed, it
became more difficult to get away. “When we first bought it, we used it for
three months each summer,” says Savage, “but as the kids got older, we used it
less and less. Ongoing maintenance of the place became an issue, and we really
couldn’t justify keeping it.”
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