AOL Co-Founder and Chairman of Exclusive Resorts Steve Case is leading a $20 million round of new equity financing to further strengthen the destination clubs financial position. The company also recently became the first destination club to reach the 100,000th vacation milestone.
Being the first club to reach 100,000 vacations, combined with seven consecutive years of member satisfaction with club travel exceeding 90%, demonstrates Exclusive Resorts unique scale, success and leadership position within the luxury destination club market Ive increased my commitment to Exclusive Resorts because I believe in the companys tremendous growth potential, said Mr. Case. The experiences we provide our members are one-of-a-kind, combining the best resort destinations throughout the world with luxurious residences, exceptional personalized service, and a dynamic club community. With more and more families focused on making the most of their time together, they are sure to recognize what our members have discovered Exclusive Resorts is simply a better way to vacation.
Steve Case also discussed Exclusive Resorts in an interview we reported a few weeks ago.
To celebrate its 3,000+ members reaching a combined 100,000 vacations with the club, CEO Jeff Potter personally welcomed members KC and Kelly Gallagher to the clubs Scottsdale, AZ destination. The Gallaghers trip to Scottsdale was their 49th club vacation since joining Exclusive Resorts in 2004. Jeff Potter noted that Exclusive Resorts members each take, on average, seven vacations per year with the club. Other destination clubs report similar numbers of club vacations for their members, for instance a couple of weeks ago we reported on M Private Residences members doing 4 to 5 trips a year with the club. A large part of joining any destination club is the commitment youre making to your future vacations. Many members find they travel more once they join a destination club.
"Being the first club to reach 100,000 vacations, combined with seven consecutive years of member satisfaction with club travel exceeding 90%, demonstrates Exclusive Resorts unique scale, success and leadership position within the luxury destination club market," said Jeff Potter. "We believe we provide more vacations each year, 24,000 in 2009, than the other destination clubs put together. Although we're excited to have reached this significant milestone, our focus as we look ahead is on making our members next 100,000 trips even better."
Over the past year, the Exclusive Resorts added 49 new residences in four of the top luxury destinations in the world: Lake Tahoe, CA; Sea Island, GA; Miraval Arizona; and Kapalua Bay, Maui.