By Life in Big Sky
Big Sky has three major private club communities, and Moonlight Basin just changed what that third one means. One&Only opened its first U.S. property here in November 2025, bringing a level of hospitality the area had not seen attached to a residential address before.
Our team at Life in Big Sky has fielded a steady stream of questions since the opening, mostly some version of the same thing: Does this change what a home in Big Sky is actually worth? Here is what we know so far, based on what has actually been built and sold.
Key Takeaways
- Scale: One&Only Moonlight Basin includes 73 guest rooms, 19 cabins, 62 private homes, and 8 estate lots.
- Price Point: A completed 3,670-square-foot residence there sold for 8.8 million dollars.
- Global Access: Homeowners gain privileges across all 15 One&Only resorts worldwide.
- Comparison: Montage Big Sky, in nearby Spanish Peaks, offers a different ownership structure with 39 residences and quarter-share options.
What One&Only Moonlight Basin Actually Built
One&Only Moonlight Basin sits on 240 acres within the larger Moonlight Basin community and opened to guests and homeowners in November 2025. The property combines a full-service resort with a private residential offering, rather than operating as a hotel alone.
The Numbers Behind the New Resort
- Guest Rooms: 73 rooms make up the hotel side of the property.
- Cabins: 19 standalone cabins sit apart from the main lodge.
- Private Homes: 62 homes and 8 estate lots round out the residential offering.
Each ownership type carries a different price point and level of privacy, from a hotel room to a fully custom estate. Buyers considering any tier should ask which amenities transfer automatically with ownership versus which require a separate club agreement.
How the Amenities Set a New Bar for Big Sky
A private heated gondola connects the property directly to Big Sky Resort's more than 5,800 skiable acres, a detail few Big Sky addresses can match. A 17,000-square-foot spa and six restaurants, including a Big Sky location from Michelin-starred chef Akira Back, round out the on-site amenities.
What Comes With a One&Only Moonlight Basin Address
- Private Gondola: Direct access to Big Sky Resort's ski terrain from the property itself.
- Global Portfolio: Homeowners gain privileges at all 15 One&Only resorts worldwide.
- Alpine Lakes: Two private lakes on the property support paddleboarding and trout fishing.
These amenities extend beyond a typical ski-in, ski-out listing, since they connect an owner to a global hospitality brand rather than a single property. Ask how amenity access is structured before assuming every homeowner benefit applies equally across all 62 homes.
What an Early Sale Suggests About Pricing
A 3,670-square-foot home at 76B Roosevelt Road, one of the first completed residences in the community, sold for 8.8 million dollars. The five-bedroom home included custom design packages, Sub-Zero appliances, and mountain-facing terraces among its finished features.
What That Sale Price Reflects
- Size and Price: 3,670 square feet at 8.8 million dollars marks the newest ultra-luxury price point in Big Sky.
- Design Packages: Buyers could choose between Olson Kundig and Gallatin Valley Design Group finishes.
- Early Inventory: This home was among the first completed, ahead of broader resale data for the neighborhood.
A single sale can still mark where the newest ultra-luxury inventory in Big Sky currently prices, even without defining the entire market on its own. Track additional closings as they become public record before drawing firm conclusions about the neighborhood's overall trajectory.
How Moonlight Basin Compares to Spanish Peaks and Yellowstone Club
Big Sky's three major private communities now each carry a distinct identity, with Yellowstone Club built around invitation-only exclusivity and Spanish Peaks organized around its partnership with Montage Big Sky. Moonlight Basin's identity now centers on the One&Only brand and the hospitality it brought to what was previously a quieter, more wilderness-focused community.
Why the Comparison Matters for Buyers
- Yellowstone Club: Invitation-only membership tied to ownership across 15,200 acres.
- Spanish Peaks: Membership included with purchase, paired with Montage Big Sky's hotel services.
- Moonlight Basin: Membership tied to ownership, now paired with One&Only's global hospitality brand.
Each community suits a different kind of buyer, from those who want total privacy to those who want a full-service resort experience at home. Compare all three directly before deciding which model fits how your family actually plans to use a Big Sky property.
What This Means for the Rest of the Big Sky Market
Branded residences like One&Only Moonlight Basin and Montage Big Sky increasingly define the top tier of Big Sky's real estate market, setting a new reference point for what ultra-luxury means here. Homes outside these branded communities still make up the majority of listings across Big Sky, from Town Center to the Meadow Village area.
Where Branded and Non-Branded Markets Diverge
- Branded Communities: Moonlight Basin, Spanish Peaks, and Yellowstone Club offer bundled hospitality and club access.
- Independent Listings: Homes outside these communities carry no club dues but also no bundled resort services.
- Buyer Fit: The right choice depends on how much hands-on service a buyer actually wants included.
Neither category is inherently the better investment, since each serves a different type of buyer and lifestyle. Talk through both categories before narrowing a search, since the right fit depends on more than price alone.
FAQs
What Is the One&Only Moonlight Basin Real Estate Impact So Far?
The clearest impact so far is a new price ceiling, marked by an 8.8 million dollar sale for one of the community's first completed homes. Beyond that single data point, comprehensive resale statistics for the neighborhood are not yet public.
How Does Moonlight Basin Differ From Spanish Peaks?
Spanish Peaks pairs its private club with Montage Big Sky's hotel services, while Moonlight Basin now pairs its club with One&Only's global resort brand. Both include membership automatically with a home purchase, unlike Yellowstone Club's invitation-only model.
Do All Big Sky Homes Come With Club Access Like This?
Homes outside Yellowstone Club, Spanish Peaks, and Moonlight Basin do not include private club membership or bundled resort amenities. Independent listings across Big Sky operate without the dues, but also without the hospitality perks these three communities offer.
Contact Life in Big Sky Today
We watched Moonlight Basin transform in real time, from a quieter alternative to Yellowstone Club and Spanish Peaks into a community anchored by a global hospitality brand, and that shift changes how we advise every client considering a purchase there.
Contact Life in Big Sky today, and let us help you decide whether a branded address like this one fits your plans, or whether another Big Sky neighborhood serves you better.
Contact Life in Big Sky today, and let us help you decide whether a branded address like this one fits your plans, or whether another Big Sky neighborhood serves you better.
