Joining a Destination Club? The Veras Group serves as a destination club consulting and brokerage firm, offering you destination club advice on every aspect of your decision, from requesting brochures of clubs you might be interested in to final negotiations with the clubs to secure you the best available pricing and terms.
Working with The Veras Group consists of eight easy steps
Step 1: Request and Review The Veras Group Portfolio
Visit The Veras Group website and request a brochure. You will learn more about our complimentary services and how we answer your candid questions about each and every destination club and secure you the best available price on your destination club membership.
Step 2: Ask Questions About The Veras Group
Learn more about our team of destination club experts, comprised of service and sales professionals from the destination club industry who know every detail of purchasing a destination club membership.
Step 3: Return Your No-Obligation Client Agreement
Our No-Obligation Client Agreement is exactly what it says. You are in no way agreeing to purchase anything. Simply put, signing this agreement means you will be able to access The Veras Group's team of industry experts willing to spend as much or as little time with you as you want. We never will force anything on you, just answer each of your difficult destination club questions with timely and thorough answers.
Step 4: Complete Your Client Questionnaire
The Veras Group is dedicated to guiding you to the destination club that suits your unique travel needs best. After completing your client agreement, we ask that you complete a questionnaire that lets us learn more about you. Allow us to learn more about destinations you are looking for, your past travel experiences, and clubs you have already looked into. Based on these results, we begin to form a list of destination clubs that may potentially fit your needs.
Step 5: Questions, Discussion, Review
Based on the results of your questionnaire and discussions with you, we will begin to offer suggestions on which destination clubs fit your profile. At any time, you can ask questions about each and every club in the industry, learning more about pricing, redemption policies and average home values. The Veras Group is your unbiased resource for destination club news, and we are eager to answer all of your questions, big or small.
Step 6: Due Diligence
Once we have worked together to decide on the two or three (or five or six if you would like), we offer you due diligence suggestions. Would you like to tour a club's members' only website? Like to review financials with the club's Chief Financial Officer? We will arrange whatever you need to feel more comfortable with your decision, always on the line if you would like us to accompany you on the call.
Step 7: Terms & Conditions Review
Once you have decided on the top one to two clubs you are seriously interested in joining, we so through the legal documents you sign as a member with you, pointing out differences between each and how they affect your travel. During this time, we are also speaking with the clubs you are interested in, negotiating to secure you the best publically available pricing and terms so when you are ready to join, the best deal will be waiting for you.
Step 8: Membership Enrollment
Following your review and our negotiations with the destination club you elect to join, we send you off the documents and all you have to do is sign and send off your membership deposit to whatever club you feel is best. Money never passes through The Veras Group's hands. From there we wish you safe and fun filled travels for the life of your destination club membership. All we ask is that you drop us a line from time to time telling us more about your fabulous vacations.
The Veras Group is the only unbiased destination club news, consulting and brokerage firm. As our client, we accompany your purchase from start to finish: customized reviews of your travel needs, unrestricted access to our expert advisors, insiders' advice from industry veterans, insightful due diligence support, thorough club comparisons and points of difference, and the best available terms & pricing on your membership, all at no cost to you.
Please reach one of our destination club advisors at 877-VERAS-07 or 970-449-4680 to learn more about the industry, specific clubs, and our service, or visit our website www.TheVerasGroup.com.
Join us: we know the way.
Tuesday, September 30, 2008
Tuesday, September 16, 2008
Destination Club News - Yellowstone Club World Closes
Yellowstone Club World Ceases Operations
Date: September 4, 2008
Luxury destination club Yellowstone Club World has ceased operations. Founders Tim and Edra Blixseth’s public divorce and subsequent legal dispute over the ownership of Yellowstone Club and spinoff destination club Yellowstone Club World led to the club listing its French chateau for sale earlier this month. The 30,000 square foot Château de Farcheville took over 14 years of restoration and features an underground wine cellar, fitness center, private theatre, heli-pad and 12 guestrooms. The luxurious property was listed by Mint Real Estate for $60 million. Since then, Edra has gained control over both the Yellowstone Club and Yellowstone Club World and has taken the Château de Farcheville off the market for the time being. Yellowstone Club World’s 30,000 square foot mansion in the Turks & Caicos remains on the market for $55 million.
Edra will continue to operate the 13,400 acre Yellowstone Club, which counts Bill Gates amongst its elite and private membership base. “I have always felt that the Yellowstone Club is ‘my baby,’” wrote Edra in a message to members after taking control of the club earlier this year. “I am excited about the future of the Club, and working toward restoring it is my number one business priority.” Yellowstone Club World consisted primarily of founding members who upgraded from the Yellowstone Club. Last year, Yellowstone Club World halted new member acquisitions as the fate of the club had yet to be decided.
A Yellowstone Club World representative confirmed the dissolution of the club. The Veras Group is following up with Yellowstone Club World to learn more about the status of the club's luxury real estate and members. Check back to learn more.
Yellowstone Club World Ceases Operations
The Veras Group is your source for destination club news and breaking news about every destination club.
Date: September 4, 2008
Luxury destination club Yellowstone Club World has ceased operations. Founders Tim and Edra Blixseth’s public divorce and subsequent legal dispute over the ownership of Yellowstone Club and spinoff destination club Yellowstone Club World led to the club listing its French chateau for sale earlier this month. The 30,000 square foot Château de Farcheville took over 14 years of restoration and features an underground wine cellar, fitness center, private theatre, heli-pad and 12 guestrooms. The luxurious property was listed by Mint Real Estate for $60 million. Since then, Edra has gained control over both the Yellowstone Club and Yellowstone Club World and has taken the Château de Farcheville off the market for the time being. Yellowstone Club World’s 30,000 square foot mansion in the Turks & Caicos remains on the market for $55 million.
Edra will continue to operate the 13,400 acre Yellowstone Club, which counts Bill Gates amongst its elite and private membership base. “I have always felt that the Yellowstone Club is ‘my baby,’” wrote Edra in a message to members after taking control of the club earlier this year. “I am excited about the future of the Club, and working toward restoring it is my number one business priority.” Yellowstone Club World consisted primarily of founding members who upgraded from the Yellowstone Club. Last year, Yellowstone Club World halted new member acquisitions as the fate of the club had yet to be decided.
A Yellowstone Club World representative confirmed the dissolution of the club. The Veras Group is following up with Yellowstone Club World to learn more about the status of the club's luxury real estate and members. Check back to learn more.
Yellowstone Club World Ceases Operations
The Veras Group is your source for destination club news and breaking news about every destination club.
Wednesday, August 27, 2008
Vacation Homes Compared to Destination Clubs
Vacation Homes Compared To Destination Clubs
Date: February 28, 2007
Destination clubs have been increasing in popularity over the past few years. They provide a good alternative to luxury vacation homes, in fact some destination club owners have sold their second homes when they join a club. But, there are pros and cons on both sides. If you're thinking of buying a vacation home or joining a destination club read through the factors below before making your choice.
Cost & Equity
Initial membership fees in a destination club vary from below $100k to over $1m but are still typically lower than a 20% down payment for a comparable luxury vacation home. For examples of the initial fee, days of use and the average home values see the chart compare destination clubs and related links. The annual cost of a vacation home includes mortgage payments, taxes, maintenance, repairs, utilities, cleaning etc and can equate to 6 - 9% of the value of the home. The annual dues for a destination club range from under $5k to over $70k and are significantly less than the total annual costs of ownership of a comparable second home.
Most destination clubs do not offer any equity participation, but on resignation members are typically refunded 80-100% of their initiation fee. Some clubs do offer either direct equity participation or a share in the increased value of the membership fee or properties. In contrast as a vacation home owner you will benefit from the full increase (or decrease) in the value of your property, which over time can be a substantial sum.
Financing
Third party financing of destination club membership can be quite difficult, because usually you're buying a membership and access to properties but not purchasing the actual real estate, and most lenders are not willing to lend directly for memberships. Given this, some destination clubs such as High Country Club and Exclusive Resorts, assist members in finding appropriate financing. A few members opt to use second mortgages or home loans on their primary residences to fund initiation fees, most others just use their liquid assets. Finding financing for a vacation home is comparatively easy and mortgage payments may be tax deductible.
Maintenance and Repairs
In destination clubs, members do not have to bother about repairs and maintenance to the properties. The club takes care of all of them and the costs are covered by annual membership fees. In contrast, owners of second homes can spend large amounts of both time and money on maintenance and repairs. If you own a vacation home and the pipes freeze in the winter, then you have to find a plumber yourself or have an arrangement with a local property management company to look after such issues.
Service
Service levels at vacation homes are entirely up to the owner, who must hire providers or make arrangements themselves. Destination clubs usually offer very high, full service levels than can cover everything from pre trip planning and organizing travel arrangements, on site concierges and housekeeping, private chefs, booking tee times, lift tickets, favorite restaurants and a wide variety of other services and activities.
Personalization
As a vacation home owner it's up to you to pick the furniture, décor and layout to suit your tastes. You can have your pictures on the walls and photographs of friends and family on the shelves. Everything can be just how and where you want it. Destination clubs are trying to match some of these aspects by stocking shelves with the food you like and by using digital images of friends and family in digital picture frames, all set up before you arrive.
Multiple Locations
Destination clubs allow members to access all the luxury properties managed by the club. These can include beach homes, ski houses, condominiums in urban locations and houses right on the golf course. The clubs may offer from ten to hundreds of multi-million dollar residences in stunning geographic locales around the world. On the other hand, second home owners only have access to their own property in one location. This allows you to really get to know an area and the other homeowners in the neighborhood, but does not provide the variation.
Availability
Destination clubs allow members to visit any club property for a certain number of days or weeks per year. Each club has it's own reservation process and rules which can vary with the level of membership. These define how far in advance a member can reserve time and how much time a member can book at once. The clubs usually have a member to home ratio of between 6:1 and 8:1 and their homes are in use between 40% and 55% of the time. So overall there is plenty of available time. In addition many of the clubs allow unlimited use on a space available basis - that is, if the reservation is made in a short window of around 45-60 days before departure.
Various research has found that vacation home owners use their homes between 25-35 days a year. Owners of second homes do not need to book ahead to spend time at their own property. As an owner you can come and go as and when you please, without any planning or coordination. You can also allow friends and family to use your home even if you're not there, whereas destination clubs have limits on the use of homes if a member is not present.
Guilt and Obligation
Vacation home owners often feel guilty when not using their second home for vacations, and even feel obligated to spend their vacation time at their second home as they have spent so much money and time on it. Therefore people end up spending time in their vacation home when they would rather be elsewhere. No such guilt factor influences destination club members as they are not tied to any one property.
Rental Income
Renting out a vacation home for a period every year can bring in additional income that can cover some of the higher costs of ownership. As an owner you'll have to decide if you want to manage the rental process yourself or hire a management company to take care of this. You'll also have to deal with an impersonalized house when you return, with family photographs and personal items having being removed to accommodate tenants. Destination clubs do not allow members to rent out their time.
So overall there are several factors to consider in your decision. You may find a vacation home is better if you know you like one location and are happy to keep returning. Plus you don't mind all the repairs and maintenance responsibilities and/or you plan to rent it out or use it for a retirement home. A destination club would suit you if you prefer a variety of locations and a full service vacation experience. Please contact us if you have any questions on the above factors or anything else to do with destination clubs.
Vacation Homes Compared To Destination Clubs
Date: February 28, 2007
Destination clubs have been increasing in popularity over the past few years. They provide a good alternative to luxury vacation homes, in fact some destination club owners have sold their second homes when they join a club. But, there are pros and cons on both sides. If you're thinking of buying a vacation home or joining a destination club read through the factors below before making your choice.
Cost & Equity
Initial membership fees in a destination club vary from below $100k to over $1m but are still typically lower than a 20% down payment for a comparable luxury vacation home. For examples of the initial fee, days of use and the average home values see the chart compare destination clubs and related links. The annual cost of a vacation home includes mortgage payments, taxes, maintenance, repairs, utilities, cleaning etc and can equate to 6 - 9% of the value of the home. The annual dues for a destination club range from under $5k to over $70k and are significantly less than the total annual costs of ownership of a comparable second home.
Most destination clubs do not offer any equity participation, but on resignation members are typically refunded 80-100% of their initiation fee. Some clubs do offer either direct equity participation or a share in the increased value of the membership fee or properties. In contrast as a vacation home owner you will benefit from the full increase (or decrease) in the value of your property, which over time can be a substantial sum.
Financing
Third party financing of destination club membership can be quite difficult, because usually you're buying a membership and access to properties but not purchasing the actual real estate, and most lenders are not willing to lend directly for memberships. Given this, some destination clubs such as High Country Club and Exclusive Resorts, assist members in finding appropriate financing. A few members opt to use second mortgages or home loans on their primary residences to fund initiation fees, most others just use their liquid assets. Finding financing for a vacation home is comparatively easy and mortgage payments may be tax deductible.
Maintenance and Repairs
In destination clubs, members do not have to bother about repairs and maintenance to the properties. The club takes care of all of them and the costs are covered by annual membership fees. In contrast, owners of second homes can spend large amounts of both time and money on maintenance and repairs. If you own a vacation home and the pipes freeze in the winter, then you have to find a plumber yourself or have an arrangement with a local property management company to look after such issues.
Service
Service levels at vacation homes are entirely up to the owner, who must hire providers or make arrangements themselves. Destination clubs usually offer very high, full service levels than can cover everything from pre trip planning and organizing travel arrangements, on site concierges and housekeeping, private chefs, booking tee times, lift tickets, favorite restaurants and a wide variety of other services and activities.
Personalization
As a vacation home owner it's up to you to pick the furniture, décor and layout to suit your tastes. You can have your pictures on the walls and photographs of friends and family on the shelves. Everything can be just how and where you want it. Destination clubs are trying to match some of these aspects by stocking shelves with the food you like and by using digital images of friends and family in digital picture frames, all set up before you arrive.
Multiple Locations
Destination clubs allow members to access all the luxury properties managed by the club. These can include beach homes, ski houses, condominiums in urban locations and houses right on the golf course. The clubs may offer from ten to hundreds of multi-million dollar residences in stunning geographic locales around the world. On the other hand, second home owners only have access to their own property in one location. This allows you to really get to know an area and the other homeowners in the neighborhood, but does not provide the variation.
Availability
Destination clubs allow members to visit any club property for a certain number of days or weeks per year. Each club has it's own reservation process and rules which can vary with the level of membership. These define how far in advance a member can reserve time and how much time a member can book at once. The clubs usually have a member to home ratio of between 6:1 and 8:1 and their homes are in use between 40% and 55% of the time. So overall there is plenty of available time. In addition many of the clubs allow unlimited use on a space available basis - that is, if the reservation is made in a short window of around 45-60 days before departure.
Various research has found that vacation home owners use their homes between 25-35 days a year. Owners of second homes do not need to book ahead to spend time at their own property. As an owner you can come and go as and when you please, without any planning or coordination. You can also allow friends and family to use your home even if you're not there, whereas destination clubs have limits on the use of homes if a member is not present.
Guilt and Obligation
Vacation home owners often feel guilty when not using their second home for vacations, and even feel obligated to spend their vacation time at their second home as they have spent so much money and time on it. Therefore people end up spending time in their vacation home when they would rather be elsewhere. No such guilt factor influences destination club members as they are not tied to any one property.
Rental Income
Renting out a vacation home for a period every year can bring in additional income that can cover some of the higher costs of ownership. As an owner you'll have to decide if you want to manage the rental process yourself or hire a management company to take care of this. You'll also have to deal with an impersonalized house when you return, with family photographs and personal items having being removed to accommodate tenants. Destination clubs do not allow members to rent out their time.
So overall there are several factors to consider in your decision. You may find a vacation home is better if you know you like one location and are happy to keep returning. Plus you don't mind all the repairs and maintenance responsibilities and/or you plan to rent it out or use it for a retirement home. A destination club would suit you if you prefer a variety of locations and a full service vacation experience. Please contact us if you have any questions on the above factors or anything else to do with destination clubs.
Vacation Homes Compared To Destination Clubs
Destination Clubs Solstice and Parallel Merge
Destination Clubs Solstice and Parallel Merge
Date: December 13, 2006
These two clubs, Solstice and Parallel, announced their merger today and have 10 homes valued at an average of $6 million each, plus a luxurious 90-foot motor yacht. They are very much at the super luxurious end of the Destination Club industry.
The members have all the benefits of luxury second home ownership without any of the inconvenience.
The new Solstice Collection offers three different membership levels which vary by the number of days of advance reservations days. It has also combined the exit refund plans of the two clubs and now offers a choice of a 100% deposit return or a deposit return based on the prevailing value of memberships, less a 20% transfer fee.
Here's where you can compare Solstice to the other destination clubs.
Destination Clubs Solstice and Parallel Merge
Date: December 13, 2006
These two clubs, Solstice and Parallel, announced their merger today and have 10 homes valued at an average of $6 million each, plus a luxurious 90-foot motor yacht. They are very much at the super luxurious end of the Destination Club industry.
The members have all the benefits of luxury second home ownership without any of the inconvenience.
The new Solstice Collection offers three different membership levels which vary by the number of days of advance reservations days. It has also combined the exit refund plans of the two clubs and now offers a choice of a 100% deposit return or a deposit return based on the prevailing value of memberships, less a 20% transfer fee.
Here's where you can compare Solstice to the other destination clubs.
Destination Clubs Solstice and Parallel Merge
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