Ken MacLean On Being An M Private Residences Member

By: Destination Club News
Date: January 30, 2010

Ken MacLean, the former Executive Vice President Sales and Co-Chief Executive Officer of M Private Residences, wore many hats during his tenure with Canada's largest destination club, serving as the club's primary sales and marketing presence and one of the most enduring characters in the destination club space. After helping to grow the club to well over 100 members, MacLean and fellow executive Paul Poscente stepped down in late 2008, making M Private Residences shareholder owned and operated. We had the opportunity to catch up with Ken recently, just over a year following the changes at M Private Residences, to discuss his favorite position with the club: that of a member.

"I am still an M shareholder and enjoy being on that side of the equation," MacLean said. "M is fiscally the strongest club in the industry and used 2009 to focus on improving efficiencies in the operations. The new management has done a tremendous job of quietly going about the business of running a destination club. Dull one might say, but I think the members appreciate a year without drama and an ever improving cost of doing business."

This improvement in the cost of doing business during 2009 has led to saving in 2010 for the club's roughly 150 members. Late last year, M Private Residences announced that the club will not increase annual dues to members during 2010.

One of the pioneers of the fiscally responsible destination clubs in operation, 93% of new members' deposits goes towards the purchase of new properties. In addition, the club's annual dues paid by members cover all of the club's operations. "Let’s be very clear," Poscente told us last year when the pair departed. "At M, every dollar is covered by the operating costs. Every light switch, every cup of coffee, all the debt, all the salaries, all the sales, sales incentives, referral programs, every freaking dollar is in the annual dues."

The quick witted MacLean would add, "Just by general nature, Canadians are conservative. Everyone knows that."

Currently, the club's portfolio includes 17 properties throughout Canada, the US, Mexico, Europe, and the Caribbean, each valued between $2 million and $3 million. With real estate prices still low, M Private Residences has plans to bolster this property collection during the course of the year.

While we were a bit sad to lose both Ken and Paul from the destination club executive ranks, glad to hear their far more glamorous roles as members are treating them well.

If you are considering joining a destination club and would like to learn more about the benefits and risks associated with membership, request a free copy of our Destination Club Guide.