Botiga
Members

Planning to launch their equity destination club in the winter of 2008, Botiga Retreats would initially publish strong sales numbers, closing in on their 20 Founding Memberships.

Derived from a French dialect for "boutique," Botiga would halt their property acquisitions late in 2008, looking to rejoin the market in 2009 and enjoy steep discounts on property prices.

"With property prices continuing to soften, members have requested that Botiga delays the launch of the portfolio in order to take advantage of what they feel will be better pricing in 2009, and therefore maximise their returns.

"The club has supported this move.

"It is expected that properties will be secured in Spring 2009, to be available for member use for Autumn 2009.

"Membership sales continue to be strong and only a limited number of Founder Memberships remain available. Founder Members benefit from the lowest share price and two years of holidays with the club dues free. In addition, Founder Members pay no performance fee, allowing them to benefit from 100% of the growth in their share price."

The Spring and Autumn 2009 deadlines both came and went with no news from the club emerging.

Attached to Descent International, a leading ski chalet operator, Botiga's future does not appear to be positive as Descent announced their bankruptcy in 2009.

While the club did publish strong sales numbers in their initial months, these few members were likely attached or close to the club's executive team.

Botiga did not purchase any real estate during their time in the sector, indicating that it is reasonable to believe these early members received nearly all of their membership funds returned to them.

If you are a former Botiga member and would like to comment on your experience with the club, please feel free to contact us at contribute@destinationclubnews.com.