Yesterday Ultimate Resort announced that it had closed the acquisition of substantially all of the real estate assets of Tanner & Haley. This $100m acquisition gives Ultimate over 750 members and luxury homes located in 25 resort destinations in the United States, the Caribbean, Mexico and Europe.

St Thomas Pool & Lanai

Ultimate Resort acquired the real estate assets of Tanner & Haley's three former luxury destination clubs: Private Retreats, Distinctive Retreats, and Legendary Retreats. As part of the transaction more than 650 former members of Tanner & Haley have agreed to become members in Ultimate Resort and Ultimate Resort ELITE destination clubs.

"We are also pleased to welcome more than 100 former Tanner & Haley employees, many of whom have years of experience providing five-star concierge and member services." said Ultimate Resort Founder, President and CEO Jim Tousignant.

The destination club industry is growing rapidly. Exclusive Resorts announced today that it now has $1 billion of owned homes. Other clubs such as High Country Club and M Private Residences have reported reaching hundreds of members.

Image courtesy Ultimate Resort, St Thomas, USVI