Destination clubs, residence funds and luxury travel clubs provide their members with access to multiple luxury vacation homes, located all over the world. The homes are typically multi-million dollar residences, and are sited in major cities, at beaches, in mountains and leisure locations.
Membership of the clubs is an alternative to buying a second home. The clubs are sometimes also compared to, or even mixed up with, private residence clubs, but there are several key differences between the two.
If you're just starting out learning about the clubs and funds read the overview and the glossary. Then you can start to compare them in the comparison table. One way to financially compare them is using a cost per night calculation and we've provided downloadable spreadsheets for these calculations. Here are the top reasons to join a club, but they are not for everybody and here are the reasons not to join.
And for a real in-depth look at the clubs, their homes and services, comparisons to alternatives and questions to consider before joining, download our Guide for Prospective Members.
The map shows some of the main destinations where the clubs have homes. Click on the markers to see the actual homes.
The latest news and research on the clubs is included below.
Abercrombie & Kent, one of the worlds leading luxury travel companies is entering the destination club market. Starting this summer it will launch the Abercrombie & Kent Residence Club, a destination club that combines its hospitality experience and global reach, into a new equity club model.
West Caicos, the far west island of the Turks & Caicos archipelago, is the site for Quintess, LRW's newest enclave, Molasses Reef (coming in 2010). Tucked within the premier Ritz-Carlton Reserve resort, the enclave features five free-standing, custom beachfront villas.
In the new merged destination club that combines Ultimate Resort with Private Escapes there will be three club levels with homes values at $1m, $2m and $3m. CEO Jim Tousignant recently unveiled the pricing plans for each of these club levels.
The National Association of Realtors (NAR) just reported US vacation home sales dropped 30.6 percent to 740,000 in 2007. This drop is in marked contrast to the increase in shared luxury vacation homes which, as we reported two weeks ago, saw an 8% growth to $2.3bn in 2007.
The calendar may say Spring but with so much snow in the mountains this year, most ski resorts are open well into April and some are even going into May. For anyone who's not yet "skied out" this year, here is the availability at some destination club homes.
Founder and CEO of LUSSO, Steve Greer, was kind enough to share his personal journey and insight into the destination club industry as a whole and LUSSO in particular, in this exclusive interview.