When we first mentioned The Hideaways Club two months ago, they were still getting ready to launch. Now with them officially launched and accepting members and their first properties opening in May this year, it's time for an update on this European equity based destination club.

We hear a variety of reasons as to why people buy into private residence clubs and luxury fractionals. Usually there are several factors that persuade people that this is the right way to go for their vacation property. We've summarized the main reasons here.

A fractional jet card is an alternate, albeit popular method of experiencing the benefits of private aviation. Jet cards give members access to 20 to 50 hours of flying time. Their popularity has opened up private flying to a whole new type of traveler. Someone who recognizes the inherent advantages of flying on the fractional fleets but who doesn't want to tie up the capital to become a fractional owner.

Several companies offer jet charter cards. These companies may either have their own aircraft fleets or may charter aircraft on the open market to meet the flying needs of their members. Jet charter cards provide most of the benefits of fractional jet cards to members, but at lower entry costs. Members experience the benefits of flying privately at some of the most competitive rates in the industry.

In a new move among Destination Clubs, Exclusive Resorts has just opened its own members-only resort at Peninsula Papagayo on the north Pacific coast of Costa Rica. This exclusive peninsula offers a wealth of luxury amenities and access to Costa Rica's amazing wildlife.

Exclusive Resorts just announced an enhanced collection of services for its members. The services include travel assistance, premier rental car and air transportation access and medical advisory services.

The latest statistics from the Department of Transportation show an increasing number of bags being lost by the commercial airlines. In addition only about 75% of commercial flights arrive on time. With these statistics it may now be the time to start looking into flying privately.

The Residences at The Little Nell in Aspen are now priced at $3,000,000 for a 4 bedroom residence and $1,475,000 for a 3 bedroom residence for a 1/8th share. The price of these has increased substantially over the 18 months since they became available.

Yesterday Jet-Alliance reported that it had received delivery of the the first Eclipse 500 very light jet (VLJ). The company is offering fractional ownership for about $100,000 for a 1/16th share (50 hours of flying) and has orders for several more of the planes to build up it's fleet.

The most popular article on the Wall Street Journal yesterday was the write up on the amicable split of Tim and Edra Blixseth. One afternoon, over a bottle of wine, they mutually agreed on who got what.

The Aspen Times reported the sale of all 275 of the memberships at the St. Regis Private Residence Club in Aspen. Prices varied between $300,000 and $1.5m for four weeks of ownership of a 2 or 3 bedroom suite.

The Hideaways Club has just raised £15m ($29m) and is looking to purchase its initial properties across Europe. The locations under review include Spain, France, Italy, Morocco, Switzerland, Greece, Cyprus, and Crete. The plan is to buy properties in the $1.5m to $2m range.

PlaneSense currently has 25 Pilatus PC-12s in it's fractional aircraft program and according to the New Hampshire Union Leader will increase this to 37 aircraft over the next year. This puts it in the top 6 fractional aircraft programs in the US.

With the announcement yesterday BelleHavens follows the trend in the Destination Club industry of having backing from a billionaire. In this case the funding comes from Ray L. Hunt and his Hunt Realty Corporation.

Rumors continue to swirl about the sale of Raytheon's aircraft division, the manufacturer of Beechcraft and Hawker planes. Raytheon has been looking to sell this division for quite some time, since it doesn't quite fit with Raytheon's other defence contracting business units.