Squaw Valley Resort Converting Hotel to Condos
A resort at Squaw Valley is converting its hotel rooms into condominiums, taking advantage of the hot real estate market.
Friday, February 4, 2005
This conversion by the Resort at Squaw Creek will allow the owners to cash in on the tremendous demand for property in Placer County. The 404 hotel rooms will be converted into half that number of condominiums, priced at $300,000 to $2 million. Most condos will probably end up in a rental program for parts of the year. The resort will still operate as a hotel, providing amenities such as room service and a concierge. The Silverado Resort in Napa is another condo resort that operates in this manner. The hotel business in Tahoe is strong in summer and the winter, but can be soft in the spring and fall.