Grand Resort Properties
Members

The Omaha based Grand Resort Properties provided members access to a collection of vacation properties valued at over $2 million.

The club blended a mix of popular vacation destinations like Los Cabos and Steamboat Springs with more off the beaten path like Dahlonega, Georgia and Lake of the Ozarks, Missouri.

The young club counted approximately 50 members amongst their ranks but also allowed non-members the ability to use the club's properties on a rental basis. As the club continued to grow, the club planned to discontinue this program and make properties available exclusively to members.

In the club's executive summary, Grand Resort Properties identified their target market.

"10 million baby boomers, 500,000 high level timeshare owners looking to upgrade or expand, medical specialist (doctors, dentists, etc.), professionals (attorneys, CPA's, CEO's) business owners and entrepreneurs. This target demographic would have a net worth at the very highest end of the socio-economic spectrum. Predictions for growth in the market range from 50,000 to 500,000 new member households over the next 10 years. With membership now at approximately 5,000 member households and membership fees approaching $1 billion, a conservative estimate of growth would project a several billion-dollar industry over the next several years."

Unfortunately, Grand Resort Properties would file for Chapter 11 bankruptcy in early 2010, unable to weather the economic storm that claimed so many of the club's competitors during the year prior.

The benefits of joining a young destination club still in their founding membership phase is often demonstrable, including decreased pricing, increased usage, and a myriad of other travel benefits.

On the other side of the coin, young clubs do not have the track record of more established clubs in the sector with less properties available to members and a higher likelihood of ceasing operations.

Only you can weigh the pros and cons of each, but if you would like to receive a list of suggested due diligence questions that may help you make the most informed decision possible, request a free copy of our Destination Club Guide.