Private Residence Clubs Winning Over Vacationers
DECEMBER 8, 2005. In recent years the relatively new concept of private residence clubs, where members have access to a portfolio of luxurious vacation properties around the world, has taken off and won over affluent travelers. Members of these clubs are finding that the advantages of shared access far outweigh the hassles of maintenance and expenses associated with traditional second home ownership.
Having surpassed sales of one billion dollars in 2004, it is estimated that within the next three years the market for fractional real estate and residence clubs will surpass two billion dollars in sales.
Signature Destinations, a private residence club based in Seattle and employing the unique concept of creating regional hubs for their homes, is one example of the phenomenal success of residence clubs. Since opening its first hub of homes in the Pacific Northwest in June, Signature Destinations has sold out its first phase of memberships and expanded their offerings with homes opening across the West Coast from Canada to Mexico.
"The response to our first hub openings in the Pacific Northwest and Northern California has been amazing," said Chad Stevens, CEO, Signature Destinations. "Our members are enjoying ski vacations at Whistler and Lake Tahoe and waterfront retreats in the San Juan Islands, Monterey Bay and Cabo San Lucas, Mexico. The residence club concept, and in particular our regional model, is resonating with travelers who would normally be in the market for a second home but instead are choosing from a wide variety of residences in different destinations for a fraction of what it would cost to purchase and maintain one second home."
It is the regional model that sets Signature Destinations apart. As the only Residence Club that provides members with a portfolio of homes within easy driving distance of their primary residence, Signature Destinations addresses consumer trends that show a preference for taking shorter, more frequent trips close to home. Signature Destinations members also have access to residences across the country and in international destinations for longer trips, combining the best of the competitive national residence club offerings with the regional approach only Signature Destinations offers.
"Signature Destinations Club residences have offered our family the convenience and familiarity of the second home experience that we were looking for," said Larry Gluth, Signature Destinations member "Having several options available to us, all within a short drive, has allowed us to get away for either an extended stay or long week-end based upon our busy schedule. We look forward to the growth of the club and experiencing some of the exciting new destinations in the years ahead."
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
