M Private Residences

Canada's first and largest destination club and a firm that ardently believes in lean and responsible business practices, M Private Residences offers a worldwide collection of $2-$3 million properties exclusively to members.

Created in 2004 and officially selling memberships in 2005, CEO Jim Hilsenteger, COO Paul Poscente, and Vice Presient of Sales Ken MacLean, led the club's executive team at launch.

The club quietly grew within the destination club sector, surpassing the 100 member mark and bringing on properties in British Columbia, Hawaii, Cabo San Lucas, and various other highly sought after destinations. Based on the club's success, a series of other destination clubs based out of Canada emerged, including Diamante Residences, Moncasa Private Club Residences, and The Discovery Club.

Late in 2008, M Private Residences announced some substantial changes to the club's structure as Co-CEOs Poscente and MacLean would step down as the club became wholly owned by members. Prior to the change, the club approached many of their peers to gauge interest in either an acquisition or merger. "Before we decided it was in M shareholders' best interest to buy the management company, we courted and dated most of the major clubs outside of Exclusive Resorts, and talked about merging, acquiring, and selling," said Poscente. "Through that process and without getting into any specifics, we got to see under the sheets of all these companies, and were aghast at the extent that operating costs failed to cover the cost of expenses, generally speaking."

One of the most responsible and forward thinking clubs in the industry, M was well positioned for the economic crisis that claimed High Country Club, LUSSO Collection, One Key World, and Yellowstone Club World amongst others late in 2008 and into early 2009. The lean business operations, magnified by Poscente and MacLean's departure, allow M to be one of a handful of clubs that can continue operations without any new sales. "Let's be very clear," began Poscente. "At M, every dollar is covered by the operating costs. Every light switch, every cup of coffee, all the debt, all the salaries, all the sales, sales incentives, referral programs, every freaking dollar is in the annual dues." MacLean added "Just by general nature, Canadians are convervative! Everyone knows that!"

Since the two founder's departure, the club is now led by General Manager John Beckel, Director of Experience Kim Ogilvie, Controller Karen Watson, and Vice President of Sales Michele Beitel who have continued the conservative Canadian mentality that has suited the club so well.

To learn more about M Private Residences, please visit the club's quick links found to the right or request a free copy of our Destination Club Guide.

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