Ultimate Resort Celebrates Five Year Anniversary

By: Destination Club News
Date: February 14, 2010

February 14 may be best known for box candy and record amounts of cards, Valentine's Day is also an important day in the destination club industry as today marks the five year anniversary of the public introduction of Ultimate Resort, now part of Ultimate Escapes, the world's second largest destination club.

"Ultimate Resort appeals to the growing base of six million 'mass affluent' luxury travelers, many of whom are looking for the flexibility and benefits of a luxury destination club, but at a fraction of the high cost of other leading destination clubs," said Jim Tousignant, Ultimate Resort's Founder and President. "Membership fees in Ultimate Resort are very affordable - 50% less expensive than other leading clubs such as Exclusive Resorts and Abercrombie & Kent Destination Clubs, offering our club members a great value."

Following their public launch, Ultimate Resort would quickly sell out of their Charter memberships when an opportunity presented itself that would drastically change Ultimate Resort's growth curve and the landscape of the destination club sector as a whole. Tanner & Haley, the destination club previously known as Abercrombie & Kent Destination Clubs, filed for bankruptcy and their near 900 members would become the most highly sought after assets in the sector. Roughly 30 inquiries were made for the club, 20 confirmed agreements, and six formal bids were submitted to acquire Tanner & Haley, and Ultimate Resort would eventually be selected the winner. Virtually overnight, Ultimate Resort would go from a young up and coming destination club to the second largest in the industry.

Continuing their rapid growth, Ultimate Resort would announce a union with Private Escapes, the world's third largest destination club, in 2007. The combined club would become known as Ultimate Escapes and would be the largest destination club in the $1 million and $2 million home value category and the largest destination club in terms of total destinations and cement themselves as the second largest destination club in terms of total members.

Late last year, Ultimate Escapes would also become the world's first publicly-traded destination club, a model that multiple destination clubs have spoken with us about duplicating. "The closing of this transaction is an important milestone in the evolution of Ultimate Escapes and the entire destination club industry," said Tousignant when the announcement was made. "As the only pure-play public company luxury destination club, we are excited about the growth opportunities that lie ahead in this highly attractive segment of the luxury leisure market and are well positioned to take this business to the next level."

Over the years, Ultimate Escapes has also acquired members from both Ventures Equity Vacation Club and Everlands, two failed destination clubs, in addition to their organic growth to round out their current membership base.

Currently, the club is expecting to remain listed on the New York Stock Exchange as they conduct a secondary public offering that should enable the club to meet all their applicable original listing criteria.

Check back soon for more information on Ultimate Escapes and the rest of the destination club sector. If you are currently considering joining a destination club and would like learn more about the benefits and risks of membership, request a free copy of our Destination Club Guide.