Demeure Sets Timeline of Upcoming Events

By: Destination Club News
Date: November 20, 2010

Earlier this week, Demeure announced that they had reached an agreement with CapitalSource, Ultimate Escapes' primary lender, to amend their asset purchase agreement and had select closing conditions waived to acquire choice assets of the bankrupt destination club. "We will be proceeding with the purchase of all original assets listed in the court approved Asset Purchase Agreement. The Purchase Agreement also includes intellectual property and other critical Ultimate Escapes assets," Demeure wrote to Ultimate Escapes members.

With one hurdle down, Demeure has laid out the next several benchmarks in front of them, including some happening during the upcoming week.

November 22, 2010
Travel planners will begin reaching out to members on November 22 and providing them with the Demeure priority booking request form.

November 23, 2010
Those interested in purchasing one of the residences formerly attached to Ultimate Escapes must register their interest to purchase by this deadline. Purchase prices begin at roughly $250,000 and go as high as $3.5 million for Villa Eternidad, a four bedroom home spanning over 5,000 square feet in Cabo San Lucas. Those looking to register should send their name and a list of any properties of interest to purchase@demeure.com.

November 24, 2010
In anticipation of members beginning to travel, Demeure will be offering employment contracts to travel planners and other employees in the Kansas City branch.

November 26, 2010
The "Intent to Purchase" window for members interested in the Demeure Property Purchase Program concludes.

December 3, 2010
The firm commitment deadline for Ultimate Escapes members to join Demeure.

December 4, 2010
The next logical step after the December 3 deadline, members will now officially resume travel. "Previously we were forced to work on an exception basis and limited by bankruptcy processes up to the closing date," the club wrote. "This is no longer the case."

December 20, 2010
Just shy of Christmas, today marks the formal closing date on all property purchase bids secured on November 26, 2010.

As outlined by Demeure, it will be a whirlwind month for the exchange based destination club. Their outreach program to contact each and every Ultimate Escapes member continues and their long hours won't stop for the foreseeable future. Check back frequently for more news about their progress and the rest of the destination club industry.