Following the merger announcement between Ultimate Resorts and Private Escapes we talked to Jim Tousignant and Rich Keith, the CEOs of the two clubs.
What made you decide to combine the clubs ?
When can members make reservations and use properties ?
Does this impact the recent hotel partnership that Ultimate announced ?
What should prospective members do over the next 60 to 75 days ?
As part of the merger the clubs are working out what the new membership plans will be and what the impact will be on such things as reciprocity, where members in say the $2m club can use the $3m homes. Once the clubs have agreed on the terms and pricing of the new membership plans and these new plans have been announced, then new memberships will only be available under these new plans. Rich Keith stated that the new plans are expected to be 25% to 30% higher than the current plans - partly reflecting the increased attractiveness of having a larger choice of destinations.