Hotel Monastero di Cherasco


How many bedrooms and baths does each unit have and do the units have a kitchen?
All units are studio-like hotel suites. The hotel will include a private club room with an owners kitchen and dining room. There will also be amenities for owners such as bike, ski, clothing, and wine storage.

Is this like a fracitonal ownership where I need to fill out a calendar far in advance?
It is like a fractional ownership because owners are 1/20 owner of the whole hotel. The difference is that owners may occupy different rooms each visit, and stay for a long as they wish. When owners are not there they share in the hotel room revenue.

What is the square footage of each unit?
Each unit will be between 400 and 500 square feet.

What are the floor plans like?
Typical hotel floor layouts can be referenced on our website.

What is the timeline for completion?
Completion and grand opening are estimated to be late September 2009.

What are the attractions that draw visitors to the specific area that the hotel is located?
This is the gastronomic Center of Italy, featuring fabulous food, Barolo and Barbaresco wines, Tartufo Bianco (white truffles), amazing history, beautiful panoramic countryside views, famous markets, and antique fairs.

Are there hotels in the area so we can visit the monastery prior to completion?
Yes. We recommend the Hotel Cardinal Mazzarino ( right next to the Monastero di Cherasco. This Hotel and Restaurant is run by Marinella, Mariangela, and Amelia, and they are experts in Hospitality.

Where is the nearest town?
The monastery enjoys the Northwest corner in the town of Cherasco with sunsets and views over Mt. Viso and the Alps.

What type of financing is available?
We are currently accepting cash only. The monastery will not carry any debt.

What is the difference between a purchase of $300,000 and $350,000?
Reservation holders will be given a purchase price at the time of final contract. This is a range based on obtaining bids for completion including furnishing the units. All reservation holders will pay the same price.

Is there a monthly upkeep charge?
Home owner dues are estimated to be between $250 and $275 per month.

When is the down payment and then the full price due?
There is a $5,000 deposit due at the time of reservation, five percent due at the time the reservation is converted to contract. An additional five percent is due 180 days after going to contract with the full balance due at closing.

Until when is the deposit refundable?
The deposit is fully refundable until you reach the point of converting your reservation to contract.

What are the steps needed to make a reservation at this time?
A signed Reservation Agreement and a $5,000 refundable deposit.