Private Residence Clubs Start to Resurface Says New York Times Print E-mail
Sunday, 17 April 2011 00:04

Paul Sullivan, writing in the New York Times, interviews companies that are "betting that the market may have hit bottom and is ready for a comeback."

The article interviews executives from Equity Estates, Exclusive Resorts and Lifestyle Assets, covering the pros and cons of the overall sector.  He also quotes the Ragatz market numbers, noting how sales have dropped enormously since the 2007 peak, but stating that "71 percent of resorts said sales had either increased or been steady in the second half of 2010 compared with the first half."

Initial dues at the three range from $300,000 to $375,000 and annual dues vary from $16,500 to $30,000 , with all three providing access to homes valued at $2.5m to $3m. Both Equity Estates and Lifestyle Assets are equity based so members are also investors and share in the gain or loss when the homes are sold at the end of the set term. 

One member notes that staying in the large spacious homes is key for his family. “You look at hotels — you’re too crowded, you’re too cramped in, you need something bigger and you hope the rooms are adjoining,” said Mr. Tavill, who has three children. “It’s all silly stuff, but it takes away from the overall experience. We need to be in a house and spread out.”

Last Updated on Sunday, 17 April 2011 00:35
 
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