M Private Residences
Members

M Private Residences is Canada's first and largest destination club. Currently, the club boasts nearly 150 members and is one of the longest tenured clubs in the sector.

Late in 2008, two of the club's leading executives, Paul Poscente and Ken MacLean, stepped down and effectively made M Private Residences shareholder owned.

"The shareholders in M are fortunate to move forward with basically the same crew, except for Ken and I, that has been operating the company since its inception," said former President Poscente. "It really isn’t a loss for shareholders in terms of management. There were obviously things I was working on as CEO, and Ken in sales and marketing, that we will continue to work on, of course. We are a quasi-public club and we believed this was a necessary change to the club, and also an evolution of the industry."

"We wanted the people who want to stay in the club, to run the club," added Poscente.

M Private Residences has referred to themselves as a "de facto public company" and prides themselves on the financial disclosure provided to shareholders. Over 90% of new membership capital goes towards real estate and annual dues cover all of the club's expenses.

"Let’s be very clear, at M, every dollar is covered by the operating costs," said Poscente. "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."

Due to the success of M Private Residences, a growing number of other destination clubs are launching out of Canada. If you would like to learn more about M Private Residences or any of these new brands emerging out of Canada, request a free copy of our Destination Club Guide.