LUXLife Launches As Asia's First Luxury Destination Club
By: Destination Club News
Date: August 21, 2009
Created by Gary Ferraro and Villa Partners International comes Asia's first luxury private destination club LUXLife. Described as "an Asset-backed and NAV (Net Asset Value) Synchronized lifestyle investment," the invitation only LUXLife will cater exclusively to a target audience predominantly in Hong Kong and Singapore with a property portfolio to match.
LUXLife's property collection at launch includes an oceanfront villa at The St. Regis Residences in Bali, Indonesia; a four bedroom residence in Andara Luxury Villas in Phuket, Thailand; and a four bedroom condo at the Ocean Front at Sentosa, Singapore. "Not only does this provide an unrivalled luxury leisure experience," began Ferraro, "It is also a revolutionary lifestyle investment for members."
Limited to just 399 members, LUXLife will offer two membership options according to the launch press release.
The club's Villa Membership "includes direct participation in the VPI villa investment portfolio, as well as access to a host of amenities, services and leisure pursuits offered by LUXLife" and is described by Ferraro as an "enduring, safe, prudent investment, a lifetime of luxury lifestyle fulfillment and family memories." The value of the membership has the potential for appreciation as the value of the membership is tied to the clubs real estate portfolio. The second option within LUXLife will be the Leisure Membership. Members will have access to the same amenities and services provided to Villa Members, but without the investment benefits. Each of the two membership plans will have individual, extended family, and corporate membership subdivisions, with membership costs ranging between HK$1.4 to HK$4 million to join.
Ultimately, LUXLife plans to grow their total property portfolio to between 50 and 60 luxury residences and villas made available exclusively to members. In addition to the properties in Bali, Phuket, and Sentosa, the young club has identified several other destinations that they will evaluate as they grow, including Vietnam and Japan in the East before eventually expanding to include Canada, Australia, the Great Barrier Reef, and the Caribbean.
LUXLife is working towards achieving their targeted 50 Founding Members, offering significant savings and travel benefits to these early adopters.
LUXLife is the latest of new clubs to emerge in 2009, joining The Phoenix Club and Paragon Destinations, both emerging out of the bankruptcy of High Country Club earlier this year. How Fun Resorts also looked to materialize out of a bankruptcy of a leading club, in their case The LUSSO Collection. The Emperum Club launched in January of this year as Canada's newest destination club with properties available to members in six continents through an extensive partnership network. We have spoken to several other clubs that are planning in the coming months, each with their own value proposition.
Joining a new destination club as a Founding Members can offer sizeable discounts on the cost of membership and provide for a great deal of travel privileges not available to other members. But while the benefits may be substantial, so may be the risk. To receive a list of suggested due diligence questions that will help you better understand the risks and rewards offered by a club, request a free copy of our Destination Club Guide and mention your interest in LUXLife and we will be happy to provide you additional information about the new club.