Quintess, The Leading Residences of the World
One of the industry's largest clubs, Quintess, The Leading Residences of the World is one of the few clubs in the sector who have been successful through both organic and inorganic growth. Founded by a diverse executive team of Len Allsup, Pete Estler, and Ben Addoms, the club featured both entrepreneurs and corporate titans that helped lay the groundwork that guided the club's growth to the market leader it is today.
In April of 2005, the Boulder based destination club announced "a new era in private membership has arrived with the launch of Quintess, an exclusive destination club offering members vacation experiences and memories to last a lifetime."
Launching with a property portfolio of Aspen, Los Cabos, Manhattan, Biscayne Bay and Costa Rica, averaging $3.5 million each, Quintess quickly generated momentum at the top of the destination club industry.
Now with over 100 members, Quintess looked about an hour away to Greenwood Village, Colorado, home to Dream Catcher Retreats, a destination club that had also just cracked the 100 membership plateau, offering $3 million properties members. In fact, the two emerging clubs had even more in common as Quintess officially launched just 72 hours before Dream Catcher officially made their foray into the destination club industry. The near identical real estate prices and vision led to the announcement on August 31, 2006 of a $62 million merger between the two clubs.
The new club rebranded to form "Quintess, Catch The Dream" and now included about 230 and immediately became one of the top three clubs in the industry in terms of total members."Quintess and Dream Catcher share core values centered on a commitment to delight our members and a focus on remarkably luxurious, private freestanding homes," said Quintess CEO and Co-founder Pete Estler. "Both parties saw the opportunity to combine our strengths to create a club with a vastly improved range of member experiences and even greater financial strength. At a time when Dream Catcher and Quintess have both enjoyed tremendous growth and financial stability, this merger unequivocally does both."
Dream Catcher's 20 properties were joined with Quintess's 17 properties and yacht to give the club an estimated $110 million in real estate holdings.
Just months later in December of 2006, Quintess, Catch The Dream combined with a young club called The Leading Residences of the World and formed a long-term partnership with The Leading Hotels of the World. The new collected club had over 300 members and 49 properties and formed the club as it is currently constituted, Quintess, Leading Residences of the World.
In June of 2007, utilizing the experience the executive team had in investing, the club announced it had formed Quintess, LRW Future Fund 1, a $125 million financing earmarked for new home development. Less than a year later, the club's parent company, Club Holdings, LLC, received a commitment for $210 million in equity from an undisclosed Forbes 400 investor, the largest capital infusion in the history of the destination club industry.
A multiple time winner of Robb Report's Best of the Best award, Quintess announced a partnership with leading European club The Oyster Circle in January of 2009. The partnership would allow members of both clubs the opportunity to access the other's collection of luxury real estate, essentially bolstering the international travel offerings of both clubs.
To learn more about Quintess, The Leading Residences of the World, please visit any of the club's quick links found to the right or request a free copy of our Destination Club Guide.
You Might Also Be Interested In...
Dream Catcher Retreats
Leading Residences of the World
The Oyster Circle