Lifestyle Assets
Executives
Introduced late in 2010, Lifestyle Assets was created by many of the executives behind Private Escapes, once the world's third largest destination club and part of Ultimate Escapes.
In September of 2007, Private Escapes announced a merger agreement with Ultimate Resort, then the world's second largest destination club. The combined club would be known as Ultimate Escapes and have a commanding lead over Quintess, LRW as the second largest club in the market and with aspirations of challenging Exclusive Resorts, the undisputed leader in the destination club industry.
The strong market presence that Ultimate Escapes enjoyed would quickly erode as new membership sales came to a near complete halt, real estate prices declined, and obtaining credit proved impossible. By the summer of 2010, Ultimate Escapes would default on a near $100 million loan agreement and would eventually file for bankruptcy.
Several members of the Private Escapes executive team, the minority owners of Ultimate Escapes, would introduce Lifestyle Assets within a month of the Ultimate Escapes bankruptcy, touting the benefits of equity membership and "collective asset ownership."
"The veteran, entrepreneurial management team at Lifestyle Assets helped build the destination travel industry. Richard Keith, CEO; Ed Powers, President and COO; Karla Jones, SVP of Sales; and Tommy Robinson, SVP of Finance created private Escapes Destination Clubs, which became the third largest destination club in the sector. They know the industry inside and out - what works well and what does not. Collective asset ownership by Lifestyle Assets was born from their experiences and is based on the positive aspects of luxury travel and ownership."
As discussed by the club, Lifestyle Assets is led by:
- Richard Keith: Chief Executive Officer
- Ed Powers: Chief Operations Officer and President
- Karla Jones: Senior Vice President of Sales
- Tommy Robinson: Senior Vice President of Finance
Lifestyle Assets is modeled so that properties are acquired and managed by the club, segmented into multiple regional groups. Each group owns between ten and twelve multi-million dollar residences. After seven years, the properties are liquidated and proceeds are distributed to the members. Members can then walk away or renew their arrangement with Lifestyle Assets.
If you would like to learn more about Lifestyle Assets, please feel free to access the club's quick links to the right. To request more information, please complete our Lifestyle Assets Information Request form.
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