What is a destination club?

Answer 1

Destination clubs are a new and growing concept in the luxury vacation industry, featuring the best characteristics of second home ownership, five-star amenities and service. For less than the cost of the down payment of a single second home and with none of the maintenance hassles or fees, destination club members traditionally pay a refundable membership deposit to have a global portfolio of homes available at their fingertips. Most destination clubs intentionally model their club so homes are vacant up to 50% of the time to allow members superior availability options for both trips planned well in advance and for last minute getaways. Much like a country club, members pay annual dues to access the club's properties and if they elect to resign from the club are refunded anywhere from 75% to 100% of their membership deposit back. Some destination clubs now offer the incentive of actually receiving more than your membership deposit if you elect to resign. There are currently over 30 active destination clubs and the industry has approximately 6,500 members. Memberships range from as low as $30,000 to nearly $2,000,000 and membership plans allow you to travel as few as seven night per year to unlimited annual travel. The Veras Group is a firm dedicated to educating consumers on the destination club industry and assisting prospective members on finding the destination club that suits their needs best.