The Ritz-Carlton Club and Residences, South Beach is now accepting reservations for its fractional ownership units. Scheduled for occupancy in late 2009, all 45 fractional Club residences will be located in the former oceanfront Seville Beach Hotel building, located at 2901 Collins Avenue. The building will undergo a historic restoration. Three new towers also will be constructed to house 141 private residences, for which sales are currently underway.

The Ritz-Carlton Club provides a new option for consumers seeking maintenance-free home ownership, complemented by the amenities of The Ritz-Carlton Hotel Company. Consisting of one-, two- and three-bedroom floor plans, each club residence entitles members to a one-twelfth, deeded interest priced from the $100,000s to just over $500,000. Members can take advantage of the Ritz-Carlton services with twice-daily housekeeping, personal storage, grocery shopping, private chef services, in-residence gourmet dining and a concierge team that offers pre-arrival provisioning of the Club residences. Each residence will have all the standard high-end equipment we expect from these luxury developments, including kitchen appliances from Sub-Zero and Miele, and flat-screen LCD televisions by LG.

Helium Report Perspective

Miami Beach does not offer much in terms of private residence clubs and the entrance of a dominant player like Ritz-Carlton will spark some competition. Construction of the Ritz-Carlton building will not start until the end of 2007, making the units available at the end of 2009, conceding time to other players to enter the market.

Despite the wait, Ritz-Carlton Club’s network of properties around the world will ensure a good competitive advantage for their new beach development. Through reciprocal use benefits, members may visit other Ritz-Carlton Clubs including Aspen Highlands and Bachelor Gulch, Colo.; Jupiter, Fla.; St. Thomas, U.S. Virgin Islands; San Francisco, Calif. (opening 2007); and Kapalua Bay, Hawaii (opening 2008).

Other private residence clubs currently offering luxury fractional ownership in Miami include The Fairfax. Over 200 private residence clubs around the world are in the Helium Report directory, where you can find member reviews and recent news.