Botiga Continues To Evaluate The Market

By: Destination Club News
Date: April 18, 2009

We reached out to Botiga, a new destination club introduced last year that announced that they would suspend their launch to capitalize on preferred real estate prices, to learn the status of their club.

“We are currently revisiting our model and adapting it to the current market,” wrote Vice Chairman Alasdair Hadden-Paton. “When we are further advanced I will get in touch.”

With sales slowing throughout the destination club industry, most greatly affecting new clubs, Botiga suspended their launch.

"With property prices continuing to soften, members have requested that Botiga delays the launch of the portfolio in order to take advantage of what they feel will be better pricing in 2009, and therefore maximise their returns," the club said in a statement to our friends at SherpaReport.

"The club has supported this move."

"It is expected that properties will be secured in Spring 2009, to be available for member use from Autumn 2009."

"Membership sales continue to be strong and only a limited number of Founder Memberships remain available. Founder Members benefit from the lowest share price and two years of holidays with the club dues free. In addition Founder Members pay no performance fee, allowing them to benefit from 100% of the growth in their share price."

Like Botiga, Diamante Residences also made their entrance into the destination club industry in 2008 and subsequently announced that they would suspend their launch. Soon thereafter the club’s website was removed, the club’s phone number was disconnected, and no new information was revealed about the club.

When we asked Mr. Hadden-Paton about the timetable on when the club might be introduced, he informed us that the club had "No concrete timing at present."

Check back frequently to learn more about Botiga and their future.