Quintess Posts Successful Sales Month in October

By: Destination Club News
Date: November 22, 2010

Quintess, The Leading Residences of the World and parent company Club Holdings are enjoying a banner fourth quarter of 2010 in spite of the market conditions that exist in the destination club industry. DUO, a new club created by the principals behind Quintess, launched early in October and is already fast approaching their first 100 members threshold according to a recent webinar conducted by the club. Dovetailing off the success at DUO, October was the most successful sales month since July of 2008 in terms of new membership deposits for Quintess.

With their fruitful October, Quintess is now closing in on 550 members, making it the second largest destination club in operation. During the course of 2010, the club has grown via 30 membership transactions, inclusive of new members and upgrades. This growth can primarily be attributed to the club's existing members, where nearly 90% have referred friends and colleagues to Quintess.

Launched in 2004 with 35 members, mostly all "friends and family" of the executives, Quintess gives members access to a collection of homes valued at roughly $4 million. Between Quintess, DUO, and the golf focused PGA Tour Club, members have access to over 30 destinations via the club's reciprocity program.

There once was a time within the destination club industry where the number of members a club had was a major attribute in determining their long term sustainability. After watching competitor Ultimate Escapes file for bankruptcy with over 1,000 members, Quintess knows that this is no longer the case.

"We design and operate all of our clubs, so that the members' dues cover all the operating costs of the club," said Ben Addoms, Co-Founder of Quintess. "A number of destination clubs were built from the beginning with the idea of very low annual dues and that companies would make money by investing in real estate and retaining the gains, implied or actual, when the homes were sold. To be sustainable, a club has to have dues that cover operational expenses. Today, Quintess member dues cover all the operating costs of the company, DUO member dues will cover all the operating costs of the company, and Tour Club member dues will cover all the operating costs of the company."

This dues sustainable model has been the rallying cry for nearly every major club in operation. Exclusive Resorts, the largest destination club in the world, has been making steps and is scheduled to be break even during the upcoming year. M Private Residences has famously told us that every cost the club incurs is paid through annual dues, right down to the light bulbs.

While prospective members may remain skeptical about the destination club model after so many bankruptcies have plagued the industry, these efforts to increase financial transparency and sustainability are beginning to bear fruit, as evidenced by the banner month at Quintess.

If you are interested in joining a destination club, request a free copy of our Destination Club Guide. With all of the chaos throughout the industry and introductions by new players such as DUO, we are currently updating our Guide with even more thorough profiles of every club and more pointed due diligence questions to ask. To reserve your copy once the dust settles, please click here.