Moncasa Private Club Residences
Resignation and Redemption

Entering the destination club industry in mid-2008, Moncasa Private Club Residences would introduce the Moncasa Caribbean Experience, a club dedicated to acquiring beach properties available exclusively to members in popular locales such as Costa Rica, the British Virgin Islands, Barbados, and other tropical destinations.

"For us the Caribbean makes a lot of sense" said Moncasa Capital President John Collins. "It is close to over 160 million North Americans and provides the fundamentals of what our brand is all about. We have three legs: equity, five-star hospitality services and live-like-a-local lifestyle experiences."

Launched officially at Toronto's Caribbean Week, Moncasa Private Club Residences would briefly introduce their resignation and redemption model.

"In celebration of the launch, Moncasa is making available a limited 52 Founders Memberships. As a founding member, individuals will have access to a refund policy of 100% membership deposit or 70% of the then current membership deposit, which ever is greater. Even if a member wants to leave years after joining, they receive a 100% refund. This Founders Refund Policy is a first in the industry - and a signal that MPCR is committed to membership satisfaction."

Despite the club's claims, this type of resignation structure had been used by many notable clubs, including BelleHavens and The Solstice Collection. These types of "equity" destination clubs reward members who join the club early and remain through various price increases.

Launched in arguably the worst economic climate in the history of the destination club sector, news from Moncasa Private Club Residences would slow to a halt soon after their introduction.

It appears that the club was unable to reach their target of 52 initial members and would push the priority of the club to the back burner.