Bloomberg TV interviewed Richard Keith, Chairman of destination club Ultimate Escapes. The interview covers the clubs history, growth, funding and recent member assessment.

Rich Keith talks about how he started Private Escapes, which merged to form Ultimate Escapes. Prior to this he had his own vacation home in Steamboat Springs , Colorado, but as he put it "the honeymoon lasted about 90 days" and came to an end when he found himself stood in the hardware aisle at WalMart looking for caulk for his new home. Not quite the vacation he had expected. He then held the position of COO at the first destination club Private Retreats, before leaving to found Private Escapes.

During the interview Rich talks about the three type of members that have joined the club. He answers some tough questions about the clubs recent member assessment, and what that means for the property portfolio. He also talks about the clubs funding partner CapitalSource, where they still have some room in their credit facility.

Overall if you're interested in this sector it's an interesting interview to watch.