Exclusive Resorts 2009 Year In Review Statistics
By: Destination Club News
Date: March 5, 2010
Last week, we recapped Exclusive Resorts 2009 Year In Review, a year that saw the club grow their property portfolio by nearly 50 new residences and reduce their costs by $25 million.
A great deal of information was disclosed regarding the club in their annual review that we are happy to disclose to you.
At year end, Exclusive Resorts counted 3,259 dues-paying members, approximately 250% of their next closest competitor, Ultimate Escapes. Members span every state and 22 different countries, with approximately 66% of members having school-aged children. The remaining 33% are empty nesters. While members from Exclusive Resorts may run the gamut in terms of demographics and region, the world's largest destination club continues to build a sense of community between members.
Yesterday we spoke with Jeff Hartman, Exclusive Resorts' Senior Vice President of Corporate Communications, about the club's new Facebook and Twitter accounts in addition to Exclusive Resorts' members only forum where members can discuss everything their favorite properties and upcoming club events.
"We believe that when we look back, 2009 will be viewed as the year we came together," writes the club. "We successfully navigated a difficult economy and emerged a better and stronger club. A major initiative for 2010 is to build on this sense of community. We will continue to foster connections between members, from weekly onsite cocktail receptions to events where members work side-by-side helping local organizations in our destinations. Even as members continue to exchange club information on the ER Compass member forum, we have launched Exclusive Resorts on Facebook and Twitter to create new ways for them to share their travel tips. We are working closely with the new member-elected Member Advisory Committee on a wide variety of issues, including how best to grow the membership and further enhance the Exclusive Resorts experience."
According to the club, 93% of members have made reservations online, 91% of members have read the ER Compass forum, 93% have used the site to upload grocery lists, 88% have booked a trip using the Cancellation Watch List, 86% of members have entered the Residence Allocation System to reserve new properties, and a staggering 99% of club members have used the members-only site in some capacity.
In 2009, member satisfaction exceeded 90%, the seventh consecutive year that Exclusive Resorts has achieved this mark. "Over time we have reviewed more than 35,000 individual post-trip surveys from members to understand what you enjoy most about your trips and where we can do better. Long-time members have experienced numerous enhancements in our residences, amenities, and online systems over the years – all as a result of these surveys and the other ways we listen and respond to our members."
With nearly 400 total properties around the world, Exclusive Resorts further distanced themselves from competitors in terms of total properties with the addition of 49 new residences in 2009, representing an investment of approximately $160 million. The new properties, which averaged 95% on membership satisfaction scores, include:
- Lake Tahoe, California: 10 Residences
- Sea Island, Georgia: 20 Residences
- Maui, Hawaii: 12 Residences
- Tucson, Arizona: 7 Residences
At the end of 2009, Exclusive Resorts owned 85% of all club residences and leased the remaining 15%, higher than their 75% owned and 25% leased target ratio.
Earlier this year, Exclusive Resort surpassed 100,000 vacations, the first in the destination club sector. Of those 100,000, nearly 25% of those trips came in 2009.
The average member took seven trips with the club last year with 40% of vacations made through Advanced Reservations and the remaining 60% of trips booked through Space Available Reservations. Not exclusive to Exclusive Resorts, destination club membership does provide members the ability to plan their trips well in advance and get away for spur of the moment vacations. Members used a total of 103,500 vacation days during the course of the year, but more than 40% of reservations are cancelled and subsequently "matched" to other members through the Exclusive Resorts' Cancellation Watch List. Roughly 76% of members received a "match" through this system last year, totaling over 8,400 requests.
Across the entire Exclusive Resort property portfolio, residences averaged 67% usage across 2009 or approximately 245 days per year.
The average Exclusive Resorts member already has four vacations booked through the club for future trips, totaling over 14,500 reservations. Despite this figure, approximately 2,400 trips of four days or more at 32 different destinations remain available in the next 120 days and more than 50% of the club's inventory is available for 2010. If you wish to plan further in ahead, 80% of the club's inventory in 2011 is still unbooked.
Following up a "challenging year" in 2009 where Exclusive Resorts still managed to recruit approximately 150 new members, a goal of 250 new members has been set for 2010. The club's Sponsored Guest Program generated approximately 450 trips in 2009, using only 1% of the club's inventory and introducing a great deal of potential members to the Exclusive Resorts experience.
Late last month, Exclusive Resorts announced that they will target additional membership growth in Latin America that we will feature in an upcoming news article. Check back soon for more information.
If you are considering joining a destination club, including Exclusive Resorts or any of the other leading players, request a free copy of our Destination Club Guide for more information about the benefits and risks of destination club membership, comparisons to other luxury travel options, and a list of suggest due diligence questions to ask when evaluating a club.