Under the parent organization of Compass Group International, a "specialized real estate marketing consultancy that provides services to developers in the world's premier second-home destinations," Compass Destination Clubs released their launch announcement late in 2008 with the official website due in Q1 of 2010.
Focused on Central America where Compass Group Internation is most experienced, the club will include popular destinations such as Costa Rica, Panama, and Belize. In the club's introductory press release, CEO and Founder of Compass Group International said "The Compass Destination Club offers members the same benefits of a private residence club but at a fraction of the cost and at 1/10 the cost of a regular timeshare. Destination clubs have only catered to High Net Worth individuals...why should the rich have all the fun!"
While the specifics of the club's membership plans have not been released, Compass will offer three different levels: Silver, Gold, and Platinum. Based on the membership plan, members would enjoy discounts at select properties ranging from studios to family homes.
As the club moves closer to their Q1 official launch, check back for additional information about Compass Destination Clubs.
MEMBERSHIP PLANS
Compass Destination Clubs offers three different membership plans when the club launches, differtiated by the types of residences available to members and how far in advance they can make their reservations.
Silver Membership
For a $2,000 one-time fee, members receive discounted stays at studios and one bedroom condos in participating Central American developments. Silver members can make their reservations up to three months in advance of their vacation.
Gold Membership
Gold members receive discounts on one and two bedroom condos and can make reservations up to six months in advance for a one-time fee of $3,000.
Platinum Membership
The club's highest membership plan, Platinum members receive discounts to three bedroom condos, penthouses, and single family homes for a $5,000 one-time fee.
At all three club levels, members receive two membership cards that can be used by immediate family members. Additional cards can be purchased for $200 to $400, depending on the membership level.
Compass plans to eventually expand their offering to include clubs for Europe, Asia, South America, and Mexico, with members being able to augment their membership by adding these destinations for a fee.
As the club launches, expect more news regarding pricing for annual dues and other costs and benefits associated with membership.
MEMBERSHIP PRICING
Compass Destination Clubs is one of a growing trend of destination clubs that procure luxury accommodations for members rather than owning the real estate themselves. This type of membership allows clubs to charge significantly lower initiation fees to join the club and Compass is no different.
Although the club has not officially launched, according to their introductory announcement, members will receive 50% discounts at residential developments at which they have partnerships, meaning that the cost of joining Compass is likely one of the lowest costs a members will incur during the course of their membership.
Silver Membership
For a $2,000 one-time fee, members receive discounted stays at studios and one bedroom condos with a three-month advance reservation.
Gold Membership
Gold members receive discounts on one and two bedroom condos with a six month reservation window for a one-time fee of $3,000.
Platinum Membership
The club's highest membership plan, Platinum members receive discounts to three bedroom condos, penthouses, and single family homes for a $5,000 one time fee.
As Compass Destination Clubs moves closer to their launch date, expect more information to emerge regarding the costs associated with membership.
ANNUAL DUES
As the club has yet to officially launch, the only published information about Compass Destination Club's annual dues come from the club's announcement press release. "With a one-time membership fee and low monthly dues, Compass Destination Club members will receive a discounted rate of 50% on nightly stays at residential developments in exotic vacation destinations like Belize, Costa Rica and Panama."
As the club moves forward, be sure to check back to find out what "low monthly dues" actually means.
PROPERTIES
Announced but not yet launched, Compass Destination Clubs looks to provide members access to residential developments throughout Central America.
While a popular destination choice, the focus on this region comes primarily from the executive team's experience in the area.
With no destinations specifically released, Compass did make mention of Belize, Costa Rica, and Panama in their press release announcement. According to the release, properties will average between $400,000 and $1 million for condos and single family homes available to members. These 900 to 1,200 square foot properties will typically have one or two bedrooms and are planned to have stainless steel appliances and granite countertops.
After the introduction of the Central American properties, Compass Destination Clubs plans to expand to Mexico, South America, Europe, and Asia.
USAGE
While the final usage rules and models have yet to be announced for Compass Destination Clubs, their model likely will allow for unlimited annual usage.
While other destination clubs across the industry have one centralized portfolio of properties, all owned and/or managed by the club, Compass Destinations Clubs works with residential developers and creates their portfolio by using unused occupancy at the developers' properties.
Members of Compass receive discounts at these properties, according to the club's introductory press release, 50% off the published rates.
As long as the developers have excess inventory, members would theoretically be able to travel on an unlimited basis, paying the nightly rate for each day they are in residence.
HOLIDAY ACCESS
While the granular details of the club offering, including how the club will handle peak periods of travel, have yet to be released, Compass Destinations Club's business structure provides a likely holiday travel policy.
Unlike other destination clubs that have a collection of luxury vacation properties made available exclusively to members, Compass works with residential developments for their portfolio of properties. A membership within Compass provides members discounts on these accommodations.
As such, the holiday rates and access would largely be determined by the residential developments that are available to Compass members, as they set the pricing and availability of their properties.
These are assumptions made by Destination Club News and doesn't not necessarily reflect the actual membership offering.
MEMBERS
Announced in December of 2008, Compass Destination Clubs has yet to officially launch and subsequently has no current members.
A spin on the traditional destination club model, Compass members will be given discounts at participating residential developments, focused primarily in Central America with later expansions planned in Europe, Asia, South America, and Mexico.
Joining a new destination club often can provide members additional benefits and superior pricing compared to members that join later.
RESIGNATION
Like many elements of the yet unlaunched destination club, the resignation and redemption policies that will be used by Compass Destination Clubs is not known.
The resignation model most likely used by Compass, although not disclosed by the club, will simply involve a discontinuation of annual dues payments.
Compass Destination Clubs' members receive discounts at participating residential developments in Central America. Members pay a one-time fee of between $2,000 and $5,000 to join and an unannounced monthy annual dues charge.
As the one-time fee to join is non-refundable, resigning a Compass membership likely will involve notifying the club of your intention to discontinue your membership and to no longer use the discounts available to you as a club member.
EXECUTIVES
The Compass Destination Clubs' staff may not have the most recognizable names, but might have the most recognizable faces. CEO Will Roadhouse has been on multiple episodes of HGTV's "House Hunters International" and President Dan Studebaker owned and operated two successful restaurants in the San Francisco area. Now both in the real estate field, specializing in Central America, the pair want to apply their experience to the destination club model with the creation of their new club.
Will Roadhouse
Chief Executive Officer
Dean Studebaker
President
PARTNERSHIPS
Still in advance of Compass Destination Clubs' launch, no partnerships have been officially announced for the club.
When the club does officially enter the destination club sector, members will receive discounts at participating residential developments. These one and two bedroom condos, penthouses, and single family homes will make up the club's property list and in effect, will be partners of the club.
PRESS RELEASES
Targeting a property list of Central American destinations, Compass Destination Clubs has announced their introduction to the destination club industry, but have yet to officially launch.
With the launch still pending, the specifics regarding the club and its membership structure are still vague, but the club has released some information regarding how their club has been designed and the benefits available to members.
Compass Group International Announces Destination Club
Date: December 5, 2008
Asking "Why should the rich have all the fun," Compass Destination Clubs has announced the pending launch of their new club, focused initially on the Central America, with plans to expand into Europe, Asia, South America, and Mexico in the near future.