Who really own's Solstice anyway?

travelinstyle · 08-22-2008, 02:44 PM

In doing my research on choosing the best club for my family (I've recently exited ER), I starting looking into this company. On the website it mentions a guy named Graham Kos as the current owner, but recently I spoke to a gentleman named Jeff Scult at a conference, who claimed to be the only owner and founder of the club. I found him to be very adamant on the fact that he was the one and only owner, and was willing to give me a few free nights in to check out the club.

In my experience I’ve found that people willing to give away things so freely probably don’t really value them as much as they say they are worth. Since the membership cost is one of the highest out there, wouldn't that cause problems with the other members since guests are getting free nights as a result of a 5 minute conversation with a sales guy (He has no idea who I am and if I could even be a viable prospect at this point) ? He came across to me as a very savvy salesman, to the point where I don’t trust what he is saying. Is there an actual member of the club on this forum that can give me some insight on what is really going on this in this operation? I am interested in making a membership decision soon, but I don’t want to be “sold” on one, I just want some honest feedback. I am also a little concerned about the financial viability of this club since I've learned of a recent de-merger. Please let me know. Thank you..

TarheelTraveler · 08-22-2008, 03:05 PM

Welcome to the forum, travelinstyle.

Given the sophistication of most DC prospects, I am always surprised when you get overly salesly people at certain DCs. Most people did not get wealthy by being dumb about their finances and can usually see right through a salesperson if they're not being forthright. I wrote off a good number of clubs because of that.

There are unfortunately no Solstice members on here to my knowledge, so it might be difficult to get additional info. from here.

Whether it's Solstice or another DC, I think you do need to look carefully at financial viability. There is some really good information on due diligence on this thread that may be of some use to you.

What Constitutes Adequate DC Due Diligence?

travelinstyle · 08-22-2008, 03:08 PM

Thank you for the input. I am new to this forum and have found this information to be most useful!

Quintess Michael · 08-22-2008, 03:22 PM

Welcome to the Forum!

After a few calls, everyone says the same thing.

Kos.

DC4MS · 08-22-2008, 04:18 PM

Quote:

Originally Posted by travelinstyle

In doing my research on choosing the best club for my family (I've recently exited ER), I starting looking into this company. On the website it mentions a guy named Graham Kos as the current owner, but recently I spoke to a gentleman named Jeff Scult at a conference, who claimed to be the only owner and founder of the club. I found him to be very adamant on the fact that he was the one and only owner, and was willing to give me a few free nights in to check out the club.

In my experience I’ve found that people willing to give away things so freely probably don’t really value them as much as they say they are worth.

I would not read anything negative into that offer. Solstice is one of the most expensive Destination Clubs out there are they have incredibly amazing homes.

I am not privy to your conversation, but if I met someone new that was a former ER member, I would assume that they were of means to afford most any club and an offer to check-out a property (at a non-prime time) could be the cheapest form of advertising.

I would probably attribute the offer to the fact that you probably made a very good first impression with him!

Welcome to our forum and we have not had any Solstice members participate as there are less than 100 members, but I would gladly welcome them here.

Kagehitokiri · 08-22-2008, 05:18 PM

welcome to the forum travelinstyle.

Quote:

Originally Posted by Kagehitokiri

...Graham and Shay Kos, along with Jeff Scult, recently took back control of the club...Scult was kind enough to give us a quick update on the club. One hundred members have joined, it is well-capitalized with new investors, and club executives have brought in new operational and hospitality leadership. The merger and now buyback by the original founders is a reminder that the industry continues to experience growing pains and consolidation...It seems that the Kos-Scult triumvirate (pictured below in the Napa home) has decided to further invest their time (perhaps capital, although we don’t know who the new investors are) to build their niche club...

Quote:

Originally Posted by DC4MS

...Graham Kos, Solstice founder, and outside investors have purchased a controlling interest in the company. The stake was purchased from the founding investors of Parallel...As part of the ownership restructuring, Graham Kos is assuming the position of CEO and President from Acting CEO and President Timothy Weller, who is leaving the company...

Quote:

Originally Posted by DC4MS

The Solstice approach can all be summed up in one word – “Wow.” That’s the word co-founders Graham Kos and Jeffrey Scult expect to elicit from their members when they walk through the door of any of Solstice’s homes...“We understand we are in the nuance business, and those that live a nuanced life appreciate the Solstice experience,” says Scult. “So our homes are filled with subtle touches - some little, some not so little. There are soft surprises designed to make each Solstice home a memorable destination unto itself - no matter how spectacular the surrounding locale might be.”...Scult sites the newly built Napa Valley Solstice residence as an example...The result is a membership community that takes an active role in shaping the Solstice experience as evidenced by the newly formed Members-Only Advisory Board, a group compiled to help steer the future of Solstice.

3DH · 08-22-2008, 06:44 PM

Welcome travelinstyle! Here are a couple of links, the first of which points to Jeff Scult as the "Founder and Managing Director" of Solstice...

Solstice website

Sherpa Report Interview

Apparently, he and Kos co-founded the club.

As another former ER member, I would love to hear why you chose to leave them, too. There is a topic on the board here that deals with the issue of switching clubs, if you choose to share your story.

Kagehitokiri · 08-22-2008, 06:58 PM

they took down the bios here About Us Overview after the recent changes. im curious about the "new operational and hospitality leadership."

Sherpa · 08-23-2008, 12:42 AM

My understanding is that Jeff Scult and Graham Kos are the key execs and the main owners, along with the new unnamed investor that they just brought in.

The new investor helped them buy out the Parallel management team.

Solstice and Parallel merged in 2006 and the two management/owner teams ran the combined club until earlier this year.

travelinstyle, you could call Solstice and ask to speak to Graham Kos. They are at the size where Jeff Scult and Graham Kos will spend time with potential members.

dc joe · 08-27-2008, 07:03 PM

I am in the same position as you. I, too, was under the impression after a recent conversation with Jeff Scult that he was the owner of Solstice after leading a buyout of Parallel. He clearly informed me that he was the person who led the buyout, and subsequently, is now the owner of the club and Graham was merely buying real estate for the company.

08-22-2008, 02:44 PM	#1
travelinstyle Junior Member Join Date: Aug 2008 Location: Chicago Posts: 2	Who really owns Solstice anyway? In doing my research on choosing the best club for my family (I've recently exited ER), I starting looking into this company. On the website it mentions a guy named Graham Kos as the current owner, but recently I spoke to a gentleman named Jeff Scult at a conference, who claimed to be the only owner and founder of the club. I found him to be very adamant on the fact that he was the one and only owner, and was willing to give me a few free nights in to check out the club. In my experience I’ve found that people willing to give away things so freely probably don’t really value them as much as they say they are worth. Since the membership cost is one of the highest out there, wouldn't that cause problems with the other members since guests are getting free nights as a result of a 5 minute conversation with a sales guy (He has no idea who I am and if I could even be a viable prospect at this point) ? He came across to me as a very savvy salesman, to the point where I don’t trust what he is saying. Is there an actual member of the club on this forum that can give me some insight on what is really going on this in this operation? I am interested in making a membership decision soon, but I don’t want to be “sold” on one, I just want some honest feedback. I am also a little concerned about the financial viability of this club since I've learned of a recent de-merger. Please let me know. Thank you.. Last edited by travelinstyle; 08-22-2008 at 03:00 PM.

08-22-2008, 03:05 PM	#2
TarheelTraveler Senior Member Join Date: Nov 2007 Posts: 508 Club: A&K Residence Club	Re: Who really own's Solstice anyway? Welcome to the forum, travelinstyle. Given the sophistication of most DC prospects, I am always surprised when you get overly salesly people at certain DCs. Most people did not get wealthy by being dumb about their finances and can usually see right through a salesperson if they're not being forthright. I wrote off a good number of clubs because of that. There are unfortunately no Solstice members on here to my knowledge, so it might be difficult to get additional info. from here. Whether it's Solstice or another DC, I think you do need to look carefully at financial viability. There is some really good information on due diligence on this thread that may be of some use to you. What Constitutes Adequate DC Due Diligence?

08-22-2008, 03:08 PM	#3
travelinstyle Junior Member Join Date: Aug 2008 Location: Chicago Posts: 2	Re: Who really own's Solstice anyway? Thank you for the input. I am new to this forum and have found this information to be most useful!

08-22-2008, 03:22 PM	#4
Quintess Michael Senior Member Join Date: May 2008 Location: Denver Posts: 146 Club: Quintess	Re: Who really own's Solstice anyway? Welcome to the Forum! After a few calls, everyone says the same thing. Kos. __________________ Michael Aumock Director, Membership Development Quintess, The Leading Residences of the World

08-22-2008, 06:44 PM	#7
3DH Super Moderator Join Date: Jan 2008 Location: Texas Posts: 742 Club: LUSSO Collection	Re: Who really own's Solstice anyway? Welcome travelinstyle! Here are a couple of links, the first of which points to Jeff Scult as the "Founder and Managing Director" of Solstice... Solstice website Sherpa Report Interview Apparently, he and Kos co-founded the club. As another former ER member, I would love to hear why you chose to leave them, too. There is a topic on the board here that deals with the issue of switching clubs, if you choose to share your story. __________________ "Boutique" is better! Another extremely satisfied LUSSO member!

08-22-2008, 06:58 PM	#8
Kagehitokiri Super Moderator Join Date: Nov 2007 Posts: 1,620	Re: Who really own's Solstice anyway? they took down the bios here About Us Overview after the recent changes. im curious about the "new operational and hospitality leadership."

08-23-2008, 12:42 AM	#9
Sherpa Junior Member Join Date: Dec 2007 Posts: 23 Club: Sherpa Report	Re: Who really own's Solstice anyway? My understanding is that Jeff Scult and Graham Kos are the key execs and the main owners, along with the new unnamed investor that they just brought in. The new investor helped them buy out the Parallel management team. Solstice and Parallel merged in 2006 and the two management/owner teams ran the combined club until earlier this year. travelinstyle, you could call Solstice and ask to speak to Graham Kos. They are at the size where Jeff Scult and Graham Kos will spend time with potential members. __________________ Sherpa www.SherpaReport.com

08-27-2008, 07:03 PM	#10
dc joe Junior Member Join Date: Apr 2008 Posts: 1	Re: Who really own's Solstice anyway? I am in the same position as you. I, too, was under the impression after a recent conversation with Jeff Scult that he was the owner of Solstice after leading a buyout of Parallel. He clearly informed me that he was the person who led the buyout, and subsequently, is now the owner of the club and Graham was merely buying real estate for the company.

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