High Country Club
Launched in September of 2005 with a regional focus on Colorado and specifically the luxury ski audience, High Country Club would soon expand their reach nationally with a collection of beach, leisure, and urban getaways.
Trailing only Exclusive Resorts as the fastest destination club to reach 100 members, High Country Club would also quickly surpass the 200 member mark. With such success, the club began to modify their lean financial structure, purchasing properties outside of their price range, putting little money down on their real estate acquisitions, and rewarding executives with large salaries.
As 2008 began, High Country Club began to see a decrease in new membership sales and an increased difficulty in obtaining credit. With the club's collection of vacation properties dropping drastically in value coupled with the club saying that new membership sales were "virtually impossible," bankruptcy appeared immanent.
High Country Club proposed a restructuring that would reduce the club's collection of properties and increase annual dues, striving to bring the club's costs in line with their revenue. Needing 75% of the club's members to support such a change, High Country Club fell well short of their benchmark and were forced to file for bankruptcy.
Below, please find the High Country Club press release archive. You might also be interested in visiting our High Country Club Documents page to learn more about the club's bankruptcy.
Latest Press Releases
High Country Club Completes 2007 Annual Net Asset Test
Date: April 25, 2008
Like the results of their 2006 analysis, High Country Club has concluded their Net Asset Test and "confirm that the Club's assets are sufficient to meet its obligations, including the Membership Deposit Obligation."
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High Country Club Announces Price Increase Effective June 1, 2008
Date: April 18, 2008
Effective June 1, High Country Club will increase the cost to join their premium destination club at all four membership levels. Depending on the plan, members will pay between $5,000 and $10,000 more in addition to increased annual dues.
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High Country Club Announces Price Increase and Expands Membership Benefits
Date: November 12, 2007
Starting at the end of the month, High Country Club will increase the cost their club but will also expand the membership plans, including additional nights of annual access, friends and family usage, and customized membership plans.
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Press Release Archive
High Country Club Completes 2006 Annual Net Asset Test July 11, 2007
High Country Club Raises The Bar on Services April 13, 2007
High Country Club Exceeds 200 Members January 22, 2007
High Country Club Surpasses 100 Member Milestone July 20, 2006
High Country Club Announces Equity Membership December 12, 2005
High Country Club Debuts September 1, 2005