Crescendo Residences Merges With Equity Club Destinations Private Resorts And Increases Prices

By: Destination Club News
Date: December 10, 2006

Crescendo Residences, one of the destination club industry's leading equity clubs, has merged with the smaller Destinations Private Resorts and subsequently has increased prices to join through new membership plans.

While the "merger" does not involve the acquisition of any members or properties, Crescendo does have an option to purchase Destinations Private Resorts' home in Fountain Hills, Arizona. A handful of Destinations Private Resorts elected to join Crescendo as investors.

As reporting in August, Crescendo Residences was planning a series of price increases, from the then current $295,000 up to $335,000 to join. With the merger with Destinations Private Resorts, the club has again increased prices, leapfrogging the $335,000 entry point and jumping from $315,000 to $350,000. Dues remain unchanged at $23,500, but the number of nights available to members has been cut by five to ten nights per year for the club's Platinum Membership.

Prior to the price increase, Crescendo offered three different membership plans: Gold, Platinum, and Platinum Unlimited, all for a capital contribution of $315,000 but with different annual dues for different levels of usage.

The club's Gold and Platinum Unlimited plans have been replaced with new Family and Corporate plans. The Family Membership costs $225,000 and provides members between 15 and 20 nights of annual usage for $13,500 in annual dues. The Corporate Membership offering will provide 40 to 45 nights of annual usage for a $400,000 investment and $30,000 in annual dues.