The Leading Hotels of the World, Ltd. Launches New Luxury Destination Club: The Leading Residences o
NEW YORK, NY, July 20, 2005. The Leading Hotels of the World, Ltd. today announced the launch of The Leading Residences of the World (LRW), a luxury destination club that offers a new level of elite vacation experiences in luxurious residences located around the world.
Members have access to this prestigious collection of fully serviced accommodations in world-class locations at a fraction of the cost of purchasing and maintaining a single resort home. Residences will be located in upper-tier beach, golf, and ski destinations, as well as the world's great cities, including New York, London and Paris.
LRW is a strategic alliance of The Leading Hotels of the World, Ltd., the prestigious luxury hospitality organization representing the world's finest hotels and resorts worldwide; Cendant Corporation, a global leader in travel and real estate (ranked 107 on the Fortune 500); and HDMD, LLC a new company formed by the principals of Destination Club Partners, LLC (DCP), pioneers of the first residence club in the United States: the Deer Valley Club at Deer Valley Resort in Park City, Utah.
Members who join LRW have unlimited access to luxury accommodations (subject to the clubs reservation policy and procedures). Members pay a one- time deposit of $325,000 and annual dues of about $15,000. Members receive a refund of 80% of their membership deposit upon resignation, once the club acquires four new members, or after a year has passed, whichever comes first. LRW's membership deposit refund is backed by an insurance policy underwritten by an A.M. Best 'A'- rated insurance company, one of the club's many innovative consumer protections
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 
