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 latest news and research on the clubs is included below.
Vacation real estate private equity firm, Equity Residences, recently acquired a new home in the Northstar Resort at Lake Tahoe, continuing their focus on generating strong investment returns for their investors. Designed by renowned architect Bohlin Cywinski Jackson, the residence is located mid-mountain near the Ritz-Carlton Northstar.
More people than ever are choosing to take group vacations. According to the Wall Street Journal this is "fueled largely by extended families and multi-generational vacations", and now "groups of couples and singles are jumping in". Both The Wall Street Journal and Travel + Leisure have picked up on this trend, offering advice for ensuring a fun time is had by all.
Last year we noted that the strength of the US$ was making Canadian and European equity destination clubs much cheaper for US$ investors. The recent Brexit vote has caused the pound to plunge to its lowest level against the US$ for 30 years, making UK based clubs even better value.
Since 2004, Destination M has been providing vacation experiences for its members. This equity destination club recently changed its name from M Private Residences. The non-profit club owns luxury vacation homes around the world.
Luxury destination club Inspirato now has even more options to offer members, with the addition of 99 new properties to their portfolio. The expanded property list also adds several new destinations for members to enjoy.
Equity Residences manages private investment funds that own multiple vacation properties, which are enjoyed by the funds’ limited partners. They recently closed their first fund to new investors and have started funding their second investment fund.
Philip Mekelburg is the CEO and founder of Equity Estates. I recently talked to him about the equity destination club, it’s growth in 2015 and plans for 2016.
Equity Residences is an investment fund with a continually evolving portfolio of properties, which its members may enjoy. Like any luxury club, staff are always on hand to provide top-notch concierge service, working to meeting guests’ needs, before, during, and after their vacation. I spoke with Guest Relations and Asset Manager, Laura Krueger, and Operations Manager, Adrienne Hodell, to learn more about Equity Residence’s customer service.
Luxury destination club Inspirato has announced the arrival of a new membership option. It has a lower initiation fee than the Family membership level, and provides access to all the club homes.
With the US dollar having strengthened recently, the Canadian and European based destination clubs are much better value. Over the last couple of years the dollar has gained 20% to 30% in value against the Euro and the Canadian dollar, making these clubs that much cheaper in US dollar terms.
The equity destination club, Equity Estates, is building a new home for its investor members and has another home available for them during construction.
The Equity Villa Fund has recently acquired its latest home, located on Captiva Island on the Gulf Coast of Southwest Florida. You can meet the funds Managing Directors in New York on 17th November.
For an in-depth understanding of destination clubs and residence funds, download our free guide. This book offers details about the various types of clubs and membership plans, how reservations work, the financial aspects you'll need to know, how these two vacation home alternatives compare to luxury second home ownership in terms of cost and questions you should ask when looking to join a club. We do ask you to register to access the Guide.