Richard Keith Elected Vice President of Destination Club Association
By: Destination Club News
Date: October 2, 2006
Following the Tanner & Haley bankruptcy, many of the leaders in the destination club industry have worked together to form a new "independent regulatory arm" for the industry known as the Destination Club Association. Today the DCA announced the appointment of one of the sector's longest tenured executives, Richard Keith, to the position of Vice President.
Joining President Adam Wegner, Keith brings a great deal of experience to the DCA as one of the early adopters to the destination club industry, joining Private Retreats as a member while still in its infancy. Soon thereafter, Keith would serve as the club's Chief Operating Officer and began to develop a more affordable club option that would eventually be known as Private Escapes.
Keith would break away in 2003 to form this new venture and would subsequently launch companion clubs Private Escapes Platinum and Private Escapes Pinnacle. While Keith's original club laid the same foundation with the creation of Distinctive Retreats and Legendary Retreats dovetailing off the original Private Retreats, the two organizations would use vastly different club structures.
The pioneering Tanner & Haley would be a victim of its first mover position, relying heavily on leasing properties to meet availability needs of members. Private Escapes, and the majority of the other leaders in the industry, pledge to own the properties available to members.
In his new role with the Destination Club Association, Keith will be tasked with serving as a spokesperson for the organization and the industry, educate consumers, and continue developing best practices for the sector.
"The value of the DCA is immeasurable as we create meaningful consumer protection to regulate this growing sector while educating current and prospective members about the benefits of the destination club lifestyle," Keith said. "The DCA has been in the works for more than a year, and I’m eager to promote these initiatives, ensuring all clubs are responsible to their members. Full financial disclosure and steady growth is of the utmost importance to the future of this sector—we’re setting the bar early."
The Destination Club Association currently consists of six leading destination clubs:
With the Tanner & Haley bankruptcy still at the forefront of many prospective members' minds, the destination club industry will need a vocal supporter who will outline the structural differences between the clubs still in operation and the flaws in the model of those who aren't.
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