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05-11-2009, 04:04 PM #1
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Ritz-Carlton Hotel Expands on Fractional Ownership Model
Anyone interested in fractional ownership of real estate is following this very closely. Ritz-Carlton is opening a new fractional ownership club or destination club.
The newly launched Ritz-Carlton Destination Club is really just an evolution of the Ritz-Carlton Club that, for all intents and purposes, defined the high-end fractional ownership industry when it was started 10 years ago. Basically, the new Ritz-Carlton Destination Club gives people more vacation options in owning and enjoying various upscale Ritz-Carlton Club developments around the world.
So the new equity-based private membership program now offers two choices: Home Club Membership, which is identical to the former Ritz-Carlton Club fractional ownership program that provided titled ownership to a property members can use throughout the year, or a new deeded Portfolio Membership, which affords members the opportunity to experience a variety of premier destinations and accommodations.
"The Ritz-Carlton Destination Club provides the discerning few with a new level of privilege and freedom when they travel," said Peter J. Watzka, executive vice president and chief operating officer for The Ritz-Carlton Development Company, Inc. (an affiliate of The Ritz-Carlton Hotel Company). "Over the last decade of establishing a second-home alternative for our current Ritz-Carlton Club members, we developed intimate and rewarding, one-to-one relationships. With this commitment to deliver luxury vacation experiences, we evolved the brand to the new Ritz-Carlton Destination Club by blending the attributes of luxurious vacation homes with a heightened, flexibility while also maintaining the exclusivity our members have come to expect."
Last edited by Chief Tutor; 05-11-2009 at 04:09 PM.
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