Q: What is Crescent Club?
A: Crescent Club referred to as the "Club," is an exclusive network of luxurious homes located in select residential communities in the United States and Mexico, with possible expansion into Canada and other countries. Members and their guests will be able to use and enjoy any of the Homes in the Club network, whenever they choose, subject to availability and to the reservation procedures contained in the Club Documents.
This intro led Crescent Club's Frequently Asked Questions page when the club was established in 1999. While not commonly referred to a destination club at the time, as the destination club model has expanded to include luxury rental vacation clubs and equity model clubs, Cresent is more commonly being grouped into the rather broad destination club label.
Founded by Joseph W. Mitchell, Mark Mogul, and Eric Lyon, the club's model was that each home in the portfolio was co-owned by six members, each with an equal one-sixth interest as a tenant in common. Members received a real estate deed as evidence of their membership. Providing each member with 56 nights of "Allotted Time" each year, members could exceed this number on an unlimited basis, subject to availability and reservation policies. The club utilized what they called a "Rotating Priority Reservation System" that helped resolve availability was compromised by multiple members requesting the same home.
Mitchell, who handled the financial and operational components of the business, eventually joined Crescendo Residences as the club's President. His experience helped guide the club to the top of the equity destination club industry and ultimately got acquired by Abercrombie & Kent along with another equity club, BelleHavens. The two clubs helped form the new Abercrombie & Kent Residence Club where Mitchell still serves as Senior Vice President of Real Estate Acquisition and Development.
To learn more about The Crescent Club, please visit any of the club's quick links found to the right or request a free copy of our Destination Club Guide.
You Might Also Be Interested In...
Abercrombie & Kent Residence Club