Star CEO Clarifies Difference Between Private Residence Clubs and Destination Clubs

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. October 14, 2008

SCOTTSDALE, AZ, January 23, 2006. Star Resort Group (SRG) CEO Carl Berry made a statement clarifying the difference between private residence clubs and destination clubs. "The line is getting fuzzy," says Berry. "The public is becoming confused. The term private residence club refers to a site specific fractional interest program where the construction, furniture, amenities and service levels approach or equal a five star hotel. All fractional interest projects offer deeded ownership. However, destination, or multi site, clubs offer a multiple location system of luxury homes or condominiums that, in almost all cases, does not offer a deeded real estate interest."

SRG acquires, develops, and markets projects for its own account as well as providing sales and marketing, development and management expertise to other hospitality operators, landowners and builders. SRG also provides financing assistance and can become a strategic investor in instances where the company is involved in the development, marketing or management of a project.

Berry says there is a need to clarify the difference between private residence clubs and multi site clubs. "In addition to the deed to their real estate, many owners of a PRC may elect to exchange their time with other prestigious similar clubs using a network such as World's Finest Resorts. On the other hand, the multi-site club such as Exclusive Resorts and others offers its members many geographical locations for their use, most often without an owner having a deed to the real estate interest backing up his/her membership. Those who buy a membership in a multi-site club are members of that club. Those who buy a real estate interest in a private residence club or high end fractional property are owners and members of the owner's association comprised of all the owners at that project. In other words, they own their property, even if it is just a portion."

"Our goal," says Berry "is to educate consumers so that they become savvy about the shared ownership alternatives that are available to them. To this end, we are in the process of launching a consumer component to our web site. Star has long been regarded as the pioneer in the leisure resort real estate market and we can certainly help consumers decide which sort of product is best for them."

Berry's expertise in shared ownership spans decades. He is co-Chairman of Star Resort Group. He has more than 30 years of resort and urban development experience. Founded in 1978 Carl's company, California Resorts, Inc. is the market leader in urban share projects such as The Manhattan Club in NYC, San Francisco Suites and Powell Place City Shares in San Francisco. Mr. Berry is a co-founder of The World's Finest Resorts (now part of RCI's Registry Collection). He has served as Chairman of the American Resort Development Association (ARDA) and currently serves as a Director.