Legacy Destinations would take a rather unique perspective to the design of their destination club. Rather than owning a portfolio of luxury vacation properties available to members like most destination clubs, Legacy Destinations would provide a portfolio of luxury vacation properties owned by the members.
Second home owners and developers could contribute their vacation properties to the club in exchange for a free membership and the right to use other residences within the portfolio.
The club would also market to outside members who were not contributing properties to the club, charging "significant" membership pricing.
Unfortunately, the club appears to have halted their growth prior to fully making themselves open to the public. No information regarding holiday access, pricing, or usage were ever released regarding membership and the club's email addresses and phone number are no longer valid.
Many other clubs have attempted similar structures as the one laid out by Legacy Destinations, and the model does have some distinct advantages, as well as some tangible disadvantages.
A model where the homes are not owned greatly reduces the annual costs of the club. This can make the annual dues much lower than comparable clubs and let the club run a lean operation.
On the other hand, the service component of membership can run into problems, as homes available to members have variable values, bed and bath configurations, proximity to amenities, and other features that are controlled by the homeowner rather than the club.
To learn more about the different structures used throughout the destination club industry and the benefits and risks of each, request a free copy of our Destination Club Guide.