100% of These New Residences are Company-Owned
DENVER and WASHINGTON, August 14, 2006 – Exclusive Resorts, the worlds leading destination club, today announced that it plans to open 30 new luxury residences for its members before the end of this year, at an average rate of two new residences for members each week. All of these new residences are owned by Exclusive Resorts, further strengthening the industrys largest real estate asset base, which is currently valued at over $800 million.
These new residences will complement the clubs existing portfolio of 300 luxury residences open today in 35 of the worlds most desirable destinations. In addition to these 30 new residences opening in 2006, Exclusive Resorts is also under construction on another 100 residences in seven new resort developments that are scheduled to open in 2007 and 2008.
These 30 new residences provide Exclusive Resorts members more vacation options in the following destinations:
St. Regis Resort, Ft. Lauderdale;
The Bath Club, Miami;
Abaco Club, Bahamas;
Real del Mar; Mexico;
Kiawah Island, South Carolina;
Park Avenue Place, New York City;
Little Dix Bay, A Rosewood Resort, British Virgin Islands; and
Poro Poro, Peninsula Papagayo, Costa Rica.
“We are delighted to open these additional luxury residences for our members over the next five months, which will add to the Clubs already expansive portfolio of destinations and residences,” said Donn Davis, CEO of Exclusive Resorts. “Exclusive Resorts has never been in a stronger position, with record new membership sales, the largest owned portfolio of real estate in the industry, and extremely high member satisfaction. As the undisputed blue-chip choice in the luxury destination club industry, we continue to earn our reputation by delivering on our promises to our members each and every time.”
Chief among the new residences opening in 2006 are the first 10 of 20 dramatic glass-front homes in the members-only Exclusive Resorts Poro Poro development in Costa Rica, sited on 20 acres of lush, cliff-side terrain on Peninsula Papagayo. Each four-bedroom, 4,000-square foot residence is an architectural masterpiece, featuring arching rooflines, private infinity-edge pools, every imaginable luxury and unobstructed views of the ocean from every room in the residence.
As previously announced to members, Exclusive Resorts has an additional 100 luxury residences under construction in seven new custom-designed resort developments. Each project was carefully selected by Exclusive Resorts management and will further expand the companys asset base. Scheduled to open in 2007 and 2008, the seven developments are: Kapalua Bay, Maui; Hoolei, Wailea, Maui; The Arrabelle at Vail Square, Vail, Colorado; Viceroy Resort, Anguilla, British West Indies; Exclusive Resorts Private Enclave at Ritz Carlton, Grand Cayman; as well as continued expansion in Castello di Casole, Tuscany, Italy; and Poro Poro, Peninsula Papagayo, Costa Rica.
About Exclusive Resorts:
Exclusive Resorts is the leader in the new consumer segment of luxury residence clubs. Exclusive Resorts offers its members unprecedented access to a portfolio of hundreds of the finest luxury vacation residences in dozens of the worlds most desirable destinations. With an average value of approximately $3.0 million, each residence combines the spaciousness and elegance of a private home with the services, amenities and conveniences of a five star resort. Membership in Exclusive Resorts eliminates the burdens of owning a second home, the limitations of fractional real estate, and the uncertainties of renting a villa. Members of Exclusive Resorts pay a one-time membership fee that is 80 percent refundable upon resignation, plus annual dues. Exclusive Resorts is the partner of choice in the luxury residence club segment, with strategic alliances with leading companies including American Express, Neiman Marcus, Merrill Lynch, and Marquis Jet, the fleet provided by NetJets. The Company is based in Denver, Colorado and Washington, D.C. Membership is subject to the terms and conditions of the club membership agreement with Exclusive Resorts. For more information on membership, please call 800.447.8988 or visit www.exclusiveresorts.com.
FOR FURTHER INFORMATION
Corporate Contact
Exclusive Resorts, LLC
Rachel Neumann
Director of Communications
1530 16th Street, Suite 500
Denver, CO 80202
Telephone: 303.493.6106
Fax: 303.474.7910
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