"Our estates are tailored to those who want some equity for their money and who return year after year to certain vacation destinations for longer periods of time."
Created by CEO Stan Dobrin, a Harvard MBA and former real estate developer and mortgage banker, Destinations was virtually a one man show to begin. Dorbin plotted out the model, purchased the lots, and hired the architects that were so crucial to Dobrin's vision, so much so that the Destinations Private Resorts website had its own architecture page.
"The goal is simple -- create a series of luxuriously appointed and painstakingly crafted single-family vacation homes where absolutely no amenity is overlooked and no corner cut. Homes will boast everything from high-tech entertainment and exercise equipment to the high-touch elegance of an on-site concierge."
A true equity offering, members purchased one-eighth interests in the clubs properties. While prudent, the club's 2003 launch put Destinations Private Resorts in one of the most competitve eras of the destination club industry as several new clubs were jockeying for position and marketing low annual dues and membership deposits to join, making Destinations $384,000 price tag look exceedingly high.
Late in 2006, Crescendo Residences, one of the industry's leading equity destination clubs, absorbed Destinations into their club. Destinations Private Resorts' members were offered the opportunity to join Crescendo as investors and just a handful elected to join.
Ultimately, Crescendo Residences was acquired by Abercrombie & Kent along with another equity destination club BelleHavens. The combined clubs helped A&K launch their new venture, Abercrombie & Kent Residence Club, one of the industry's leading destination clubs.
MEMBERSHIP PLANS
A true equity ownership destination club, interests began at $384,000. The club planned to increase prices by four to five percent every time a new property was added to the collection. Despite the fact the club only had one home, they eventually ended at $419,000 before the club merged with Crescendo Residences.
MEMBERSHIP PRICING
Focusing on a tiered membership pricing structure, members purchased a one-eighth interest in a property for $384,000 with increases of four to five percent for every new property added to the club's portfolio. The club eventually increased pricing to $419,000 but never progressed past their first property before merging with Crescendo Residences.
ANNUAL DUES
Annual dues for Destinations Private Resorts membership were approximately $12,000 per annum.
A small club during their tenure within the destination club industry, Destinations Private Resorts would eventually merge with Crescendo Residences. Once the the merger with Crescendo Residences took place, the collected club introduced three membership plans that a handful of Destinations Private Resorts' members joined.
PROPERTIES
Every destination club makes acquiring luxurious vacation homes one of their primary concerns, but Destinations Private Resorts stressed this importance to a new degree.
"The goal is simple - create a series of luxuriously appointed and painstakingly crafted single-family vacation homes where absolutely no amenity is overlooked an no corner cut," said CEO Stan Dobrin. "Homes will boast everything from high-tech enterntainment and exercise equipment to the high-touch elegance of an on-site concierge."
The "series" of homes that Dobrin and Destinations Private Resorts planned to acquire never happened as the club failed to grow past their first property in Fountain Hills, Arizona.
The club said that properties in Vail, Colorado and Naples, Florida were "under development" and counted Palm Springs, California and Steamboat Springs, Colorado as identified future building sites.
The prototype of Destinations Private Resorts' properties would include:
- Four bedrooms, each with walk in closet
- Four bathrooms
- Fully equipped kitchen with top-of-the-line appliances
- Exercise room with club equipment
- Wet bar
- Three car garage
- Private apartment for resident concierge
- Luxury vehicle
- Home theatre system
- Swimming pool
- Spa
- Sauna and/or steam room
- Original art collection
The Fountain Hills home was able for purchase by Crescendo Residences, but the club did not pick up the option.
MEMBERS
A true equity offering, Destinations Private Resorts sold one-eighth ownership interests in the club's portfolio of luxury vacation properties.
Launched during the peak of the destination club industry, Destinations competed against numerous non-equity clubs that had established reputations and property portfolios and quickly fell behind the pace set by these clubs.
The small Destinations Private Resorts would join with Crescendo Residences late in 2006 with a handful of Destinations' members electing to join Crescendo.
Crescendo would go on to be acquired with BelleHavens by Abercrombie & Kent to form the foundation for the Abercrombie & Kent Residence Club.
RESIGNATION
Destinations Private Resorts was one of the destination club industry's first true equity based clubs. Members would have access to a collection of luxury vacation homes and share the ownership and the benefits attached.
Acquired by Crescendo Residences late in 2006, the resignation and redemption policies of Destinations were never publicly published, but as the club members co-owned the club's properties, each with a one-eighth interest, it is likely that members could sell their membership interest with the club having right of first refusal.
EXECUTIVES
"No one is doing what I am doing - because I am doing it for the love of it, not for great profits. That's why my project is taking time!" Stan Dobrin, the President, Founder, and CEO of Destinations Private Resorts, told our friend Susan Kime.
A true equity destination club, Destinations Private Resorts would sell one-eighth interest in the club's properties. "Our estates are tailored to those who want some equity for their money and who return year after year to certain vacation destinations for longer periods of time," Dobrin would say.
The equity destination club would launch in 2003 with a property in Fountain Hills, Arizona and plans to expand to Palm Springs, California and Steamboat Springs, Colorado.
Unfortunately, like other equity destination clubs, Destinations Private Resorts was unable to enjoy the same marketing privileges that non-equity clubs had and would quickly fall behind clubs like Exclusive Resorts and Private Escapes.
In 2006, Destinations Private Resorts would be acquired by Crescendo Residences, another leading equity destination club. Crescendo Residences would later be acquired themselves to help create the foundation for the Abercrombie & Kent Residence Club.
Predominantly a one man operation, Destinations Private Resorts' executive list is limited.
Stan Dobrin
Founder, President, and CEO
NOTES FROM THE CLUB
Acquired by Crescendo Residences late in 2006, Destinations Private Resorts was a true equity offering within the destination club industry. Each member was a one-eighth owner in one of the club's properties. Unfortunately, due to an abundance of competition within the destination club sector, Destinations was unable to grow past their initial property in Arizona.
Crescendo absorbed a handful of the club's members and was eventually acquired by Abercrombie & Kent when the travel giant made their introduction to the destination club industry with the creation of the Abercrombie & Kent Residence Club.
If you are looking for comments from the final destination of the Destinations Private Resorts' club, please visit our Abercrombie & Kent Residence Club Notes From The Club page.
PARTNERSHIPS
A true equity offering where each members was a one-eighth owner in a club property, Destinations Private Resorts launched during one of the most competitive eras in the destination club industry.
The club managed to obtain only a handful of members and the club never grew larger than their first property before merging with a much stronger equity club, Crescendo Residences.
Prior to the club's acquisition, Destinations Private Resorts did not publish any partnerships.
Crescendo would also be acquired, with a small amount of Destinations Private Resorts' members still part of the membership base, by Abercrombie & Kent. The acquisition of Crescendo and another equity destination club, BelleHavens, created the foundation for the Abercrombie & Kent Residence Club, one of the leaders in the destination club industry.
PRESS RELEASES
Like many other equity destination clubs, Destinations Private Resorts did not have any public press releases, gaining new members primarily through word-of-mouth referrals.
Destinations Private Resorts would merge with Crescendo Residences late in 2006, with a handful of members joining the Crescendo family.
Crescendo would also go through an acquisition when they were acquired by Abercrombie & Kent. Crescendo and BelleHavens, another leading equity destination club acquired by A&K, would help create the foundation for the Abercrombie & Kent Residence Club, one of the leaders in the destination club sector.