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Obtain the Property Report required by Federal law and read it before signing anything. No Federal agency has judged the merits or value if any, of this property. This is not an advertisement or solicitation to purchase or sell property in states where prohibited by law. The resort project described herein (the “Resort”) and the residential units located within the Resort (the “Residential Units”) are not owned, developed, or sold by Montage Hotels & Resorts LLC or its affiliates or their respective licensors (collectively, “Montage”) and Montage does not make any representations, warranties or guaranties whatsoever with respect to the Residential Units, the Resort or any part thereof. CH SP Acquisition LLC  uses the MONTAGE brand name and certain MONTAGE trademarks (collectively, the “Operator Trademarks”) in connection with the sales and marketing of the Residential Units in the Resort under a limited, non-exclusive, non-transferable and non-sublicensable license from Montage Hotels & Resorts LLC. The foregoing license may be terminated or may expire without renewal, in which case neither the Residential Units nor any part of the Resort will be identified as MONTAGE branded project or have any rights to use the Operator Trademarks. WARNING: THE CALIFORNIA BUREAU OF REAL ESTATE HAS NOT INSPECTED, EXAMINED OR QUALIFIED THIS OFFERING. This advertising material is being used for the purpose of soliciting the sale of fractional ownership interests. This advertisement is neither an offer to sell nor a solicitation to buy fractional ownership interests to residents in any state or jurisdiction in which registration requirements have not been fulfilled. The Inn Residences at Montage Big Sky is currently under development. Images depicted herein are based upon current development plans and are subject to change without notice.