In an emailed announcement from Robert Weisman, president of the Grand Aspen Resort Condominium Association board of directors, fractional owners and stakeholders learned that East West Hospitality will take over from Hyatt as the property management company.
East West, based in Avon, “for close to 30 years has specialized in the management of luxury mountain properties such as The Lion and Solaris in Vail and One Snowmass and The Viceroy in Snowmass Village,” Weisman said in the announcement. “In line with our property, many East West-managed properties are condominiums with fractional ownership. In line with our expectations, East West will work only for our owners and report directly to our board, delivering on a culture which is collaborative, entrepreneurial and transparent.”
Apparently seeking a lower fee structure than that Hyatt charged, the association put out an RFT in July — which garnered five competitive proposals. In August, the board selected two finalists and last week decided on East West.
“Each proposal quoted fees substantially lower than the 15% management fee which has been imposed on our owners since 2005 under the current management contract, which terminates Dec. 15,” the announcement details.
East West’s experience in transitioning formerly branded properties to independent vacation rentals and fractionals and staff training were among the reasons touted for awarding the company the management contract.
Furthermore, East West Hospitality’s sister company, Denver-based East West Partners, partnered with Aspen Skiing Co. and KSL Capital Partners in the $600 million Snowmass Base Village redevelopment.
“With substantial engineering and construction resources in Snowmass Village and substantial experience with projects in the Roaring Fork Valley, East West Hospitality has the local presence and experience to provide us with dependable, exceptional service,” Weisman wrote.
One thing Grand Aspen employees can look forward to for the Winter 2021-22 season with the transition? Sponsored ski passes.
“East West will retain all of our valued associates who have been with us for many years and also plans to restore their valued ski pass benefit, which the current management company had canceled,” the email notes.