A private residence club offering fractional ownership of luxurious, elegantly-furnished one-, two-, and three-bedroom residences within a palace in Casoli, Italy. Owners enjoy their fully-appointed residences while in residence and can experience a multitude of recreational and cultural opportunities in the Abruzzo region. Palazzo Ricci™ is surrounded by history, architecture, restaurants, galleries and of course, the friendly community of Casoli itself. Palazzo Ricci™ staff make every visit worry-free and cater to your every need.
Palazzo could be translated to mean palace; however, it is a more common term for a grand or noble mansion of large size and usually of historic value. Palazzo Ricci™ was built in 1799 for Italian nobility and, therefore, is referred to as a Palazzo.
Residence clubs combine the benefits of vacation home ownership with upscale hotel amenities and services. Residence club ownership provides generous and flexible vacation use, removes the worries typically associated with absentee ownership in a foreign country, and dramatically reduces the financial burden.
One main building (palace) with 25,000 sq ft, including a detached cottage. Additionally, there is a secluded garden of 10,000 sq ft.
Each owner is conveyed a one-ninth deeded interest in one of Palazzo Ricci’s™ exquisite, fully-furnished residences.
Yes. Individuals can form legal entities to control ownership. It will be up to the joint owners to select a Designated Owner who can reserve lodging for that ownership in compliance with Palazzo Ricci’s™ reservations policies.
Yes. The first residence club was introduced more than 30 years ago in the United States at top-rated Deer Valley Resort in Park City, Utah. Since that time, residence clubs have been enthusiastically embraced by affluent buyers at premier resorts around the world, such as: Aspen, Vail, Telluride, Steamboat Springs, Palm Springs, Napa Valley, Lake Tahoe, Mammoth Lakes, San Francisco, Scottsdale, Manhattan, Southampton, Bermuda, Los Cabos, Huatulco, Florence, and many other coveted locations. Steve Dering, founder of the global residence club concept, is part of the Palazzo Ricci™ management team.
For a minimum of 5.5 weeks. Owners have the flexibility of reserving Planned Vacations well in advance and also visiting on a space-available basis. Each year, owners may reserve 21 days of Planned Vacations prior to the start of the Vacation Year. This leaves abundant additional occupancy for space-available vacations. However, there is no limit on use. If some owners use their Palazzo Ricci™ residences less, others can enjoy them more often.
The answer is yes for One Bedroom and Penthouse owners. Premier One Bedroom, Two Bedroom and Three Bedroom owners have access to all residences within their Residence Class. This allows them to reserve more than one residence during the same time period if desired. One Bedroom and Penthouse owners can reserve more than one residence at the same time through an exchange process.
Palazzo Ricci™ is designed to equitably allocate vacations when demand for lodging may exceed supply. A rotating priority system ensures all owners will have equal access to the most-requested dates over the years.
Yes. Owners may invite unaccompanied guests to use any of their confirmed vacations without a guest fee.
Yes. Palazzo Ricci™ owners can rent their confirmed Planned Vacations through the Club’s management company.
Yes. Palazzo Ricci™ has been selected to participate in the prestigious Elite Alliance SM exchange program (www.EliteAlliance.com/exchange). Your complimentary Elite Alliance membership provides exchange privileges with owners at a large and expanding group (135 to date) of prestigious properties in premier destinations around the world.
Yes. The comprehensive annual fees pay for the professional management and operation of Palazzo Ricci™. Included in these annual fees are funds for property tax, staff, supplies, palace maintenance, trash removal, legal/accounting, utilities, management fee, housekeeping, and reserves for the scheduled replacement of residence furnishings and appliances. These fees are a fraction of the all-in costs associated with traditional, vacation home, whole ownership.
Housekeeping fees for each owner’s three Planned Vacations are included in the annual fees. Owners pay a housekeeping fee upon departure from Space Available vacations.
Yes. Like any other form of real estate, an owner’s deeded real estate can be sold or transferred or sold by a licensed Italian real estate broker.
There are 14 luxury palace residences in Palazzo Ricci ranging in size from 70 to 185 square meters. Each comes with a full gourmet kitchen, well-appointed bathrooms, and luxury furnishings and artwork. We are currently completing the floor plans. It is possible to own multiple shares for more time or to wholly own a complete palace residence.
Yes, there will be an elevator. Also, we have designated parking in front of Palazzo Ricci™ for loading and unloading. The staff will park and retrieve your car in covered parking only 100 steps away. Palazzo Ricci™ will have as many as four different vehicles on-site for local transport needs. Longer transportation needs to Pescara, Rome and Naples will be available at a fee.
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