The American Affluence Research Center just announced the results of a survey of 398 affluent households. The survey showed that about 60% of the households were not familiar with either the destination club or private residence club concept.
Private residence clubs started in the early 1990s, with the first ones being built in the ski resorts in Colorado. They provided a way for people to own a luxurious ski home and only buy the 4 to 6 weeks that they would actually use the home, as such they offer fractional ownership of luxury homes. There are about 40,000 owners of luxury fractionals and private residence clubs according to Ragatz Associates.
Destination clubs started in 1998 to provide people with an alternative to owning one second home in one location. They offer affluent families and individuals a variety of luxurious homes in a variety of locations. There are currently about 5,000 members of destination clubs.
The survey also showed that among the 25% of respondents who were familiar with destination clubs very few could name a club brand. If you're starting out to compare the clubs we recommend starting at this list of destination clubs and reading the related articles on each one.
The American Affluence Research Center spring 2007 survey participants had an average income of $339,000 and an average net worth of $3.1 million.
