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Homes Away From Home: An alternative to hotels, destination clubs offer travelers a myriad of luxe vacation homes all over the world
Cigar Aficionado, Larry Olmsted (February, 2007)
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Article Excerpt
When one thinks about the perfect vacation home, images of a secluded beach or a mountainside retreat often come to mind. The choices are varied and tempting, but finding the perfect property can be daunting. Even if a third or fourth home is an option, you still must deal with the difficult realities of vacation home ownership: maintenance, plowing or mowing, furnishings and, of course, mortgage payments and ever rising property taxes. Now imagine not owning a second home. Instead, consider having a third, fourth or even a hundredth vacation home, all luxurious and well appointed, yet each intimately familiar from the moment you step in the door.
You and your family can go on that annual ski, beach or golf vacation and be able to choose from several great locations for each trip. Imagine having all these homes at your fingertips but never having to deal with lawn care or leaky pipes or finding firewood. That is the promise of the destination club, a popular new alternative to vacation real estate investment, which is attracting buyers at a breakneck pace.
... All follow the same basic premise: club members pay a large one time fee - a deposit that is fully or partially refundable plus annual dues and sometimes nightly fees. Each member is entitled to a certain number of nights per year, depending on the club and level of membership. The club uses the fees to amass a portfolio of vacation homes in myriad locations, and members get to use their nights at a combination of these properties. In its simplest form, the destination club model pools would-be vacation home owners and leverages their capital into multiple homes they all can use.
The reason the concept has quickly gained traction is because many frequent travelers like to go to varied locations and prefer opulent homes than even the most luxurious hotel room. But destination clubs are not for everyone, and before you consider which club to join, the question is whether you should join any. One of the most obvious benefits of these clubs is the homes themselves. A man's home is his castle, while a hotel room is not. Houses have more room for kids and adults, or couples or friends, and they have amenities that few hotel rooms can offer, from fireplaces and private pools to full kitchens, billiard room and theaters. Yet if you're a solo traveler or part of a couple, staying at top hotels is probably going to be less expensive and not require an up-front investment, while giving you far more choices and flexibility than even the best and biggest clubs can offer. The destination club model is aimed at those who need or demand more space, typically families with children or adults who routinely travel with other couples, friends or relatives and would require multiple hotel rooms in lieu of a house.
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