Without question, one of the most niche and ultra-luxury destination clubs to ever exist, The Southridge Club would limit their total membership base to just 18 affluent members.
Memberships for the club cost $300,000 and provided members three years of access to the club's three multi-million dollar properties. Each located in the same community, with members having a total of 13 bedrooms and over 17,000 square feet of living space across the three residences.
According to the club, Southridge expects most of their members to be "multiple homeowners who likely will be ultra-high net worth individuals or families with at least $30 million in assets."
With all of the properties in sunny Palm Springs, California, Southridge believes that 80% of their affluent members will hail from the United States with the remaining 20% likely coming from Canada and Europe.
The club's expectations may be valid as Southridge Club's first member is an unnamed US billionaire.
In 2008 and 2009, the two most elite destination clubs, Yellowstone Club World and Solstice Collection, both filed for bankruptcy, leaving a void in the ultra-luxury section of the market.
The other club to notable pursue "ultra-high net worth individuals" was Ciel, who was most known for making an unsuccessful and last minute bid to acquire the assets of Tanner & Haley Destination Clubs following their bankruptcy. Ciel would face a similar fate as Yellowstone Club World and Solstice Collection and would quietly cease operations after losing out to Ultimate Resort in their bid to acquire the destination club pioneer.
Shortly after The Southridge Club acquired their inaugural member, the owner of the three properties elected to move in a different direction. Rather than further pursuing the destination club venture, he would instead look to sell the three properties. The club's member was "more than fairly" compensated for the club's closure.
While disappointed with the owner's choice, agents of the club may elect to offer similar clubs in other destinations such as Whistler, Austria, Greece, Italy, Dubai, Brazil, Aspen, Mexico, Australia, the Alps, and Southern France.
Please check back frequently to learn more about the status of these projects.
If you would like to learn more about the benefits and risks of destination club membership, request a free copy of our Destination Club Guide, written by destination club insiders with contributions from members, potential members, and destination club executives alike.