Club Med has sold the resort to SunVest.Florida company buys Club Med
<<The Club Med resort in Mt. Crested Butte was sold last week to SunVest Communities USA, a real estate development company based in Hallandale, Fla.
The purchase price was not disclosed.
SunVest plans to invest $20 million to convert the building into 263 condominium-hotel units, said Harvey Birdman, the company's co-owner.
Birdman said he plans to begin selling units in January. He declined to say what the price range will be.
The all-inclusive Club Med opened in 2000. The property was formerly the Crested Butte Marriott.
Turning Club Med into a condo-hotel will boost business for both the mountain village and the town of Crested Butte, said Tim Mueller, who bought Crested Butte Mountain Resort with his wife in 2004.
"Club Med brought a lot of guests in, but it also provided a lot of its own prepaid services, from ski school and ski rentals to dining and retail," he said. "From a community point of view, this new setup will have a lot more benefit."
The Muellers are in the midst of pumping $80 million into the ski resort's base village. >>
By Julie Dunn
Denver Post Staff Writer
June 26, 2006
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