November 15, 2005
The Ritz-Carlton Club Expands Introducing Two New Properties to its Portfolio
ORLANDO, Fla. – November 15, 2005 – Today, The Ritz-Carlton Club, the established leader in the fractional ownership industry, introduces two new properties to its portfolio. Miami’s South Beach and San Francisco bring further diversity to the brand and offer Members an unparalleled residential lifestyle – and all with legendary Ritz-Carlton service. Furthermore, San Francisco represents the first urban location for the brand.
“We could not be more overjoyed with these new additions to the brand,” said Robert Phillips, senior vice president of business development for The Ritz-Carlton Club. “Our Members have requested for us to pursue opportunities in these destinations, and we are delivering. From locale to vacation and business lifestyles, Members will enjoy the benefits of Ritz-Carlton Club membership in both South Beach and San Francisco.”
South Beach
In a joint venture partnership with Miami-based developer, Lionstone Development, and full-service real estate development and brokerage firm, Fortune International, The Ritz-Carlton Hotel Company, L.L.C. is bringing The Ritz-Carlton Club and Residences, South Beach, to the site of Miami Beach’s famed Seville Hotel. The development will consist of three oceanfront residential towers featuring 44 fractional ownership Club residences, as well as 94 whole ownership Residences. The existing, Miami Modern (MiMo)-era Seville Hotel, located on Collins Avenue, will be revitalized and converted into a new Ritz-Carlton Club and Residences, while developing two additional residential towers.
San Francisco
In yet another joint venture, The Ritz-Carlton Hotel Company, L.L.C. and Hunter Group are collaborating to develop a new luxury residential property in the heart of downtown San Francisco. Positioned on the corner of Market and Kearny Streets, The Ritz-Carlton Club and Residences, San Francisco will occupy the West Coast’s first skyscraper, which was built in 1890 for the former offices of the San Francisco Chronicle. The building is scheduled to undergo renovations to produce 49 Club residences and 52 whole ownership Residences. Working closely with the local Landmarks Advisory Preservation Board and city agencies to protect the property’s historical integrity, the project’s restoration will include the re-emergence of the Chronicle Building’s original façade of brick and stone, and the addition of eight new stories.
These destinations will offer deeded interests with 21 days of usage, with real estate reservations scheduled for release in mid 2006. Pricing, and construction and occupancy dates will be available at a later date.
Members who purchase at a Ritz-Carlton Club enjoy numerous benefits and services. Designed as a private club, Members have the opportunity to access either their home Club or other Ritz-Carlton Clubs through reciprocal usage privileges. Members also have the opportunity to utilize additional time as available.
A Member’s dedicated concierge assists them with their every need prior to and throughout their stay. Whether it is a signature Ritz-Carlton service such as twice daily housekeeping or personalized arrangements from scuba diving trips on a 53-foot catamaran in St. Thomas and scheduling golf tee times at the Jack Nicklaus Signature Golf Course in Jupiter to coordinating lift tickets and lessons for their day on the slopes at the Aspen Highlands or Beaver Creek ski areas, The Ritz-Carlton Club provides Members a relaxing experience in the comforts of home. Moreover, a Member’s concierge provisions their residence by stocking their refrigerator, removing personal items from storage such as family photos and ski equipment, and assisting with travel arrangements prior to arrival.
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