listliver

I just want to thank everyone for the comments and insights. I have already learned that DC members are very nice people.

I have reviewed the financial statements of my two top choices (Lusso, Quintess). I did not consider ER after they refused to share financial info. Lusso has the deposit trust concept that seems to me to put the member almost in the same circumstance as an equity club. Many people today have mentioned AK but they are considerably more expensive then the others (about 100k in deposit and 20K in dues). With clarity that the deposit was safe (or at least reasonably, say 80%) this decision is a no brainer. Everyone who wrote to me today was happy they joined a DC, not matter which one.

I have discussed this with my wife to the point it is getting old. She just wants me to make a decision. It is interesting that I have spent/invested sums greater then this but for some reason this one is very difficult. Like the one post said, though, I think it is time to jump in the water.

Thanks again to all who shared.

3DH

Come on in... the water's great!

__________________
"Boutique" is better! Another extremely satisfied LUSSO member!

Rob V

LISTLIVER,
I sincerely wish you luck and godspeed in this important decision. I've spoken with members of nearly every club represented here who've seen monumental gains in terms of the life experience or enjoyment component. If "following the money" is very high on your list, I'd encourage you to review A&K, as another poster suggested, and Equity Estates, which is the only currently available equity destination club structured as a regulated investment vehicle which gives up 80% of the ownership in the real estate to its members. You'll note that I do in fact represent this company and am committed to the ethics and integrity of this forum and will not suggest anything more than the above.

Again, best wishes for the creation of memorable family experiences regardless of which alternative you select. I too have children of the age you suggested and this is in fact a wonderful way to take the stress of selecting rental properties or hotels and the countless hours of due diligence for a single vacation off of the shoulders of you and your wife. Just today I had a 90 minute conversation with a gentleman with very similar circumstances to yours (he and his wife have 2 elementary school children). He brought up the fact at least 4 times that his wife spent more than 25 hours on the planning of a recent trip which resulted in his spending greater than $10,000 on a week villa rental. The villa, located in the Caribbean, was tired and not at all what he expected. This was $10k and lots of sweat equity down the drain. You are on the right path.

Best,
Rob

__________________
Rob Vaka
Vice President, Investor Relations
Equity Estates

DC4MS

That is a common conversation I hear from many "new" Destination Club members and one very important factor in their decision to join a DC.

TarheelTraveler

I'm a little surprised that ER still does not share financial information. Seems like there would be a good number of folks like listliver and myself that wouldn't even consider putting money in without seeing and understanding the financials, particularly after T&H and Portofino. Any thoughts on that issue?

Several forum members have now pointed out that A&K is more expensive. From my perspective, A&K is trying to deliver a premium product, and just as important in my mind, they are trying to create a safe, sustainable long-term destination club where the economics actually make sense. With both T&H and more recently with Portofino we saw the problems of too low of deposits and dues, allowing management to use membership deposits in whatever fashion they chose, too much leverage on the properties, etc. Not trying to start up a debate, but there is a reason that A&K is somewhat more expensive (they do have a plan in the low 200's if IIRC though). The DC concept is so good that I think the industry would grow that much faster if you didn't have prospective members like listliver having to ask if his membership deposit would be safe.

ER Traveler

Perhaps it's worth signing an NDA to have access to ER's financials as many members have done. I wouldn't be put off by an initial refusal. ER is an outstanding club and it would be a shame not to have it part of the mix when making your decision.

caribbeansun

They are definitely at the high end of the pay scale - $225k for 15 nights, $390k for 30 nights and $495k for 45 nights. They also have some of the highest annual dues on a simple per night basis which seems to run contrary to the no debt position.

The concept may be good but the industry as a whole has to contend with those that don't have good business models and have failed and those that will fail in the future.

Kagehitokiri

since when does ER share any financial info?

dooijp