ASPEN, CO -- The Aspen Club & Spa is aiding the Aspen Athletic Club with its current lease and is helping in the Aspen Athletic Club’s negotiations for a long-term extension, the Aspen Times reports.

The Aspen Athletic Club’s lease is up Nov. 1, and its owner, Bill Hoffner, has not been successful in getting the lease renewed at a rate to remain profitable, according to the newspaper. The Aspen Club & Spa and its owner, Michael Fox, are maintaining the current lease.

If negotiations are successful, the clubs will offer joint amenities to members of each club. If negotiations fail, however, the more than 400 Aspen Athletic Club members will be offered access to the Aspen Club & Spa at an undetermined rate, the newspaper reports.

Monthly dues at the Aspen Club & Spa, which has about 1,800 members, are between $115 and $130. Aspen Athletic Club memberships are $85 a month.

Hoffner says a merger can create cost savings that allow the Aspen Athletic Club to absorb expenses, such as increased property taxes and utilities.

“It’s not an easy town to do business in, especially in this economy,” Hoffner told the newspaper. “Now we at least have a plan that certainly makes a lot of sense.”