PRCs with added benefits
A number of clubs are challenging the Destination Club model by offering reciprocal trade programmes that allow one to swap weeks at their chosen property with others within the company portfolio or selected partners. This offers an opportunity to enjoy both access to a variety of private resorts and a deeded real estate interest.
Castello di Casole is one of the more recent offerings with their Timbers Resorts Reciprocity Programme allowing Tuscan home owners to ‘trade’ weeks and experiences at any of the other six Timbers Collection properties
David Burden Founder and CEO of Timbers Resorts commented “Timbers Collection owners value the special and intimate luxury experience that has been created at their own Timbers’ developed resort. They want to experience those same benefits from time to time at other Timbers' properties while ensuring that the same respect and care occurs at each exchanged property."
Ritz-Carlton Club also offers deeded, fractional ownership at a Ritz-Carlton Club property alongside a reciprocal use basis at their other locations. Service levels are consistent with those of a Ritz-Carlton hotel. Members enjoy the convenience of a dedicated concierge staff providing services above and beyond customary concierge duties, such as airport pick-up, pre-arrival provisioning of the residence, unpacking and pressing pre-sent garments, arranging a complete itinerary and having personal items placed in their residence according to each Member’s specifications. At most properties, personal chefs are also available upon request. Furthermore, amenities include access to the private members’ lounge, as well as privileges at other Ritz-Carlton Club locations as space allows. www.ritzcarltonclub.com
Reciprocal programmes are not the only value-added benefits on offer. The Island Gardens development Miami offers fractional ownership of both a home and the yacht as a single package. Slated for completion in 2010 the 100 residences will be situated atop the Shangri-La Hotel and both property and yacht will be sold in one-eight fractions. www.islandgardens.com