- Joined
- Jun 6, 2005
- Messages
- 5,529
- Reaction score
- 29
- Points
- 483
- Location
- Toronto
- Resorts Owned
- Marriott Manor Club - 3 weeks platinum, 2 weeks at Marriott Beachplace Towers, and 1 week at Marriott Canyon Villas
Yet another Destination Club appears to be in big trouble as you can read at the link. UE's solution seems to be a special assessment to avoid bankruptcy and came as a complete surprise to members.
http://www.destinationclubforums.com/f14/redemption-resignation-private-escapes-1180.html
The President of a competitive DC has commented on the sad news of the problems for High Country Club, Lusso, Quintess, Ultimate Escapes, M Private Residences, and the list goes on and on...
"There has been a huge breach of trust in the industry, which will make it hard for anyone to trust this product again. Fundamentally members refundable deposits should have been treated as sacred, and protected at all costs. So even if the business model failed the money could be returned no matter what." - Nick - Distinctive Holiday Homes
Bear in mind that the membership fees at risk now range from $30,000 to almost half a million dollars per member, plus annual dues ... with promises that members will get their membership fee back when resigning appears to be the real risk to trusting any private company with your funds.
These members have invested a great deal of money in blind faith of the promised concept of DC's and they must all be rethinking their commitments now as everyone awaits which DC will be next.
http://www.destinationclubforums.com/f14/redemption-resignation-private-escapes-1180.html
The President of a competitive DC has commented on the sad news of the problems for High Country Club, Lusso, Quintess, Ultimate Escapes, M Private Residences, and the list goes on and on...
"There has been a huge breach of trust in the industry, which will make it hard for anyone to trust this product again. Fundamentally members refundable deposits should have been treated as sacred, and protected at all costs. So even if the business model failed the money could be returned no matter what." - Nick - Distinctive Holiday Homes
Bear in mind that the membership fees at risk now range from $30,000 to almost half a million dollars per member, plus annual dues ... with promises that members will get their membership fee back when resigning appears to be the real risk to trusting any private company with your funds.
These members have invested a great deal of money in blind faith of the promised concept of DC's and they must all be rethinking their commitments now as everyone awaits which DC will be next.
