Lifestyle Assets Creates New Membership Option
By: Destination Club News
Date: June 27, 2011
Equity destination club Lifestyle Assets has crafted a new membership option for their potential members to consider, essentially creating a "half" version of their full membership for those who do not require the 35 to 40 nights that full memberships provide.
"Lifestyle Assets has added this second equity ownership option in response to what we're seeing in the luxury vacation real estate market," said Lifestyle Assets' CEO, Richard Keith. "In the three months since we launched our Collective Asset Ownership model, we've talked with numerous potential buyers who are looking for two to four weeks' of travel per year. Now, Lifestyle Assets offers two choices to better suit our potential owners' lifestyles."
Standard memberships at Lifestyle Assets are available for a one-time capital contribution of $300,000 and annual dues of $30,000. Members receive 5,000 credits per year that are used to reserve properties, each with their own per night credit cost based on the type of destination, arrival date, property size, and time of year.
The new membership available at Lifestyle can be purchased for a one-time capital contribution of $150,000 and annual dues of $16,500. Members receive half of what full members receive, 2,500 credits, that are used in the same fashion. These members can expect to receive between 15 and 20 nights per year as hinted at by Keith.
While many destination club members do take full advantage of club travel, including some stories from club executives of members traveling in excess of 100 days per year, there appears to be an evolution to these smaller membership packages.
Nearly all of the leading clubs in the industry, such as Exclusive Resorts, Equity Estates, the Abercrombie & Kent Residence Club, and The Quintess Collection all have membership options that include between 10 and 15 nights of annual access.
For those simply looking to test the experience, Lifestyle Assets also unveiled their "Discovery Trips" program earlier this month. Potential equity owners are able to stay for up to four nights for $650 per night. This money is refunded to the guest if they become an equity owner.
If you are interested in joining a destination club, request a free copy of our Destination Club Guide for more information about the benefits and risks of joining.