Wednesday, March 21, 2018
185 West Broadway Jackson Hole, WY (888) 733.9009
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REDEFINING LUXURY IN THE HEART OF TETON VILLAGE
by Staff Writers
Located in the heart of Teton Village and at the base of the best skiing in North America—Hotel Terra set the standard for contemporary mountain luxury when it opened in 2008. LEED-silver certification for building construction was only the beginning for a resort property that defines itself around a strong environmental ethos and luxury-residential experience. The combination of national, boutique ownership, coupled with a recent refresh of common spaces in 2017, has allowed Hotel Terra to boost both occupancy and revenue. The renovations aimed to better connect the condo-hotel’s commercial and common spaces to the Teton Village core, and was accomplished through the a reorientation toward the Village Commons to better serve guests and the general public alike. Renovations included the addition of Teton Village’s only true wine bar—Bar Enoteca, as well as expansion of the ski valet for guests. Among numerous accolades, Travel + Leisure ranked the “eco-luxury” Hotel Terra as eleventh in its “Best Hotels in the U.S” in 2015, where it garnered praise for being family-friendly, as well as for its rooftop spa, 24-hour activity concierge and overall
Pictured Above: Unit 301/303—a three bedroom, lock-off condominium at Hotel Terra offers ownership with a strong rental history.
quality of service. Ownership offerings in the 132-room, AAA Four Diamond-rated condo-hotel range from studio units to three-bedroom suites. While the fundamental demand for Hotel Terra units remains rooted in the Jackson Hole lifestyle, these units are appealing to second home owners because they offer worry-free property management when not
Pictured Above: Hotel Terra provides ownership opportunities ranging from studio units to three-bedroom suites in Teton Village.
in residence. Furthermore, owners have the ability to rent out their condominiums via the turn-key, in-house rental management of Noble House Hotels & Resorts. Notable among offerings currently available within the resort is Terra 301/303, a three-bedroom condominium with expansive views of the Jackson Hole valley. Unit 301/303 generated nearly $68,000 in net rental income during 2017—for a capitalization rate of almost five percent— while still maintaining three weeks of prime owner-occupancy. This sought-after unit offers a generous living area with a large master suite and private guest bedrooms. The versatile floor plan offers the ability to utilize the condominium in its entirety, or to maximize use, enjoyment and rental potential via a flexible lock-off configuration. “Owners and guests love Hotel Terra because it provides a prime location at Teton Village while offering defining amenities and services like the rooftop Chill Spa, a renowned concierge service, and the refined dining experience of Osteria,” said Bill Van Gelder, Associate Broker with Jackson Hole Sotheby’s International Realty.
MARKET REPORTS AVAILABLE NOW RESORT REPORT |
2018
Regional reports provide an overview of the current real estate markets of Jackson Hole, the West Side of the Tetons and the resort communities of the west via three unique compilations—courtesy of Jackson Hole Sotheby’s International Realty. Look for them at one of twelve sales offices throughout the region or contact a sales agent for additional information and analysis.