Several destination clubs have already announced price rises this year and effective August 15, 2007, Ultimate Resort will increase its membership plan prices by $20,000.
Ultimate Resort has two luxury destination clubs. The original Ultimate Resort offers homes with an average value of $2m and Ultimate Resort Elite has homes with an average value of $3.5m. In total the two clubs have over 100 homes in 25 locations. Each club also has five different membership levels, 4 individual plans providing from 14 to 42 nights of usage and a corporate plan providing members with 35 nights. The 14 night plan for Ultimate Resort is currently $125,000 for the initial membership fee and $10,000 in annual dues.
Using our Destination Club cost per night model, we estimate that for someone joining the Ultimate Resort 14 night plan, the increase will add approximately $140 to the effective cost per night. You can download the cost per night spreadsheet from the link above and run the cost per night for other plans.
Ultimate Resorts membership fee refund policy is to refund 80% of the current value of the membership fee when a member leaves. So increases in the initial fee mean that current members will see a larger refund should they resign.
Many of the destination clubs are increasing their prices this summer. Quintess, Exclusive Resorts and BelleHavens have all announced price rises over the last couple of months.