The equity destination club is cutting the dues for each of its three membership levels by over 10%. Last year the club reduced the initial membership fees by almost 20% across the board and held the annual dues steady.
Michele Beitel, VP Sales and Marketing at M Private Residences, told us last year that "the share price now reflects the net asset value in the club". So holding the share price steady this year suggests that the value of the clubs real estate has stabilized.Lower Annual Dues
M Private had held its annual dues steady since November 2008, but has now lowered them to the levels shown below.
|Membership Fee|| C$147,500
|Annual Dues|| C$14,650
|Nights Included|| 21
|Long Term Reservations|| 2
|Short Term Reservations|| 1
The club notes that these dues cover all the clubs ongoing maintenance and operating expenses. In addition to lower dues, new members to M Private can also enjoy an annual dues holiday for their first 6 months of membership. The club also provides unlimited travel for reservations made within 30 days of departure.La Quinta Home
The new 4 bedroom, 3,900 sq ft home is located in the gated PGA West golf community and is just 40 minutes from the Palm Springs International Airport. The home offers views of the Santa Rosa mountains and provides a private saltwater pool and hot tub, plus a gourmet kitchen and BBQ area. With numerous shops, restaurants, galleries, golf courses and hiking trails you will never find yourself bored in this Coachella Valley city.
M Private owns 18 homes around the world with an average value of about Can$2m each. The locations include British Columbia, New York, Arizona, Nevada, Hawaii, Barbados, London and Provence. The 145 members of this equity destination club are also the shareholders of the company which both owns and manages the homes.