Speaking to an audience of industry professionals yesterday, Jeff Potter, CEO of Exclusive Resorts, shared information on how the club is doing.
In referring to some of the issues that other clubs have experienced Jeff noted Its a young, yet to mature industry and when competitors have hard times sometimes its guilt by association and he continued but overall the concept works and its an incredible way to vacation. He also made sure to point out that Exclusive Resorts owns over $1 billion of real estate, bought at below market peaks.
All clubs have seen slower sales with many potential members deferring the decision to join, until they have a clearer financial view, but Jeff stated that the club has continued to sell new memberships. He also said that the clubs new trial program known as their Sponsored Guest Program had been extremely successful with the majority of new members in January and February having come through this program.
Jeff made all these comments on a panel at the annual Ragatz Associates conference.