One of the many vacation clubs that offered not only luxury vacation properties to members, but also jet services, world-class automobiles, and exclusive concierge services. This model has increasingly been marketed as a destination club despite some noticeable model differences.
Unlike more traditional clubs where the club owns the assets available to members, Elite Shares does not own any assets and instead enters into partnership agreements with various organizations to provide residences, jets, and exotic cars to members.
As referenced in the club's general information "Unlike most fractional ownership clubs specializing in either destination properties, jet charters or automobiles alone, an Elite Shares Club membership provides total access to all of the above luxury amenities programs and more, through our strategic partnerships with some of the most reputable vendors and global exchange networks available under one membership. Elite Shares provides its' membership with an intelligent combination of second home atmospheres in exotic settings with private jet charters and a multitude of additional luxury amenities without the maintenance worries and headaches associated with ownership."
This model allows the club to rapidly bring on new destinations and services and remove properties and services that do not meet the club or member's standards. In addition, the club only pays for these amenities when they are actually in use by members allowing for significantly lower monthly overhead costs.
Elite Shares offered two different membership plans; Premium and Lifestyle. Premium members paid an up front membership fee and annual dues and were provided preferential pricing on all of the amenities available through Elite Shares. Lifestyle membership functioned much like One Key World or Emperum Club, where members did not have a membership deposit but paid funds into an account that debited costs as the members accessed the club's amenities and services at a slightly higher rate than Premium's pricing.
Within the Premium membership plan were three distinct membership types: one specifically for individuals, one for corporations, and a final offering focused on publically traded companies. Called the "Common Stock Equity Fund Membership," approved CEOs, officers, or affiliates of publically traded companies listed on the New York Stock Exchange could deposit common stock within the Elite Shares Fund as their initial funds and annual dues.
MEMBERSHIP PLANS
Not a true destination club, Elite Shares is primarily a "membership club" that includes a luxury travel component, but also access to fractional jet services, automobiles, and concierge services.
Individual Membership
Requiring the membership's primary member must be present for any stays at any of the residences when the membership is accessed. Members pay a membership deposit and annual dues. Memberships are refundable equal to 100% of the original funds left on the deposit, although a "transfer fee may apply." Members are allowed to add additional funds to the membership as they please.
Corporate Membership
Nearly identical to the Individual Membership Plan, Elite Shares' Corporate Membership allows the primary member the ability to designate friends, employees, and family members to use the membership. As such, multiple properties or jets can be accessed on the same day.
Common Stock Equity Fund Membership
A unique offering in the destination club industry, Elite Shares has a membership specifically designed for "approved CEO's, officers, or affiliates of public companies listed on the New York Stock Exchange (NYSE) or NASDAQ Stock Exchange." For all intents and purposes, this membership allows a company representative to pay for their membership and/or annual dues with common stock.
Within these membership plans are two different types of membership: Premium and Lifestyle.
Premium
Members are guaranteed the best pricing on all club amenities, including luxury homes, jet charters, and cars. Members pay a membership deposit of $188,000 and annual dues of $12,000 per year.
Lifestyle
A "pay as you go" membership option, members do not have an upfront membership deposit to pay, but rather prepaid annual dues that are debited as the member uses the clubs amenities. Members pay $12,000 annually and contribute additional funds as needed. Unlike Premium members that are guaranteed the best pricing on club amenities, Lifestyle members pay a slightly higher cost for accomodations, jet hours, and other services.
MEMBERSHIP PRICING
With two different membership options, one requiring an up front membership deposit and one using a "pay as you go" system, Elite Shares Club offers two distinct pricing options, each with their own benefits and drawbacks.
Premium
For a membership deposit of $188,000 and annual dues, members are guaranteed the best pricing on all club amenities, including luxury homes, jet charters, and cars.
Lifestyle
There are various models used within the destination club industry.
ANNUAL DUES
Elite Shares Club offers two distinct membership types, one that functions similar to a destination club with a membership deposit and ongoing annual dues and another that functions as a "pay as you go membership," both with annual dues of $12,000 per year.
Premium
Premium members pay an up front membership deposit and annual dues of $12,000 and are guaranteed the best pricing available on all club amenities.
Lifestyle
Clubs such as Elite Shares have distinct advantages and drawbacks over the traditional destination club model.
PROPERTIES
Ranging between $2 million and $10 million in value, Elite Shares Club provide members access to luxury vacation homes in addition to jet charters and exotic automobiles.
According to Elite Shares' Documents, most residences "have at least three bedrooms and over three thousand square feet of living space."
U.S. Residences
- Aspen, Colorado
- San Diego, California
- Beverly Hills, California
- New York City, New York
International Residences
- St. Thomas
- Caribbean
- Mexico
- South Africa
USAGE
A spin on the traditional destination club model, Elite Shares provides members access to luxury residences, private jet charters, and exotic cars all under one membership.
Elite Shares' members have unlimited access to all of the club's amenities by paying a per diem fee when they access the club's amenities in addition to the costs associated with joining the club.
The club has multiple membership plans available to interested parties.
This type of model can be beneficial to select audiences. The vast majority of other destination clubs use other forms of models, and each has their own benefits and drawbacks.
MEMBERS
Like a number of other destination clubs based in Florida, Elite Shares would not only provide members with luxurious accommodations, but access to exotic automobiles, private jets, and watercraft. "The Elite Shares Club is the first luxury amenity membership club to provide high-net worth individuals and corporate executives with unlimited access to our portfolio of destination properties, private jet charters and exotic automobiles under a single membership," the club would write. "Unlike most fractional ownership clubs specializing in either destination properties, private jet charters or exotic automobiles alone, an Elite Shares Club membership will provide total access to all the above luxury amenities and more through our strategic partnerships with the top vendors in the luxury fractional industry."
Other clubs had tried similar structures, namely Grand Legacy Club and Vita Luxury, and all had failed to make any significant progress on the growth of their clubs.
No news has emerged from the club following an "exclusive charter membership offer" that would be limited to 400 members before June 30, 2009.
While Elite Shares likely was able to attract a small number of regional members near the club's base of operations, it came no where near the 400 member mark and the June 30, 2009 date would come and go without notice.
Some clubs continue to operate under similar structures, but many within the destination club debate whether this type of club design and usage structure fits in the generally definition of what is a destination club.
RESIGNATION
Implementing a "pay as you go" membership option, Elite Shares members can simply elect to not renew their membership once they have used all of their pre-paid funds.
Amongst their membership plans, Elite Shares also has an Individual Membership where if a member elects to resign their membership, they receive 100% of their unused funds back.
PARTNERSHIPS
Branded primarily as a "membership club" that provides members vacation residences, exotic automobiles, and private jet charters, Elite Shares has a significant partnership network.
While this type of model can be attractive to many, it is often debated whether it falls into the destination club category.
Barclays International Realty is a leader in luxury real estate in southeast Florida, specializing in leasing and the rental of real estate in Palm Beach on a seasonal and annual basis.
Also known as the Black Card, the Centurion Card is the most exclusive card in the American Express collection, providing a wide array of exclusive privileges.
Focused on international luxury real estate, Christie's also has a fine art auction house and a global network of luxury real estate brokerages available online.
Founded in 1744, Sotheby's was originally an auction house. In 1976, Sotheby's International Realty network was created to connect real estate companies to prestigious clientele.
PRESS RELEASES
A membership club that provides members access to luxury destination properties, but also automobiles and private jets, Elite Shares is still in its Charter Membership phase.
This type of membership structure is often debated as to whether it falls inside or outside the rather generic definition of a destination club, but still can be a superb value for certain individuals.
Elite Shares Club Announces First Visa Pre-Paid Debit Card
Date: May 8, 2008
Elite Shares, a membership club that provides access to luxury residences, private jets, and exotic cars, has announced a new branded Visa debit card that will provide members unlimted access to all of the club's amenities.
Elite Shares Club Announces "Go Green" Initiative for Member Jet Charters
Date: April 24, 2008
The exclusive luxury amenity club Elite Shares offering private jets, cars, and luxurious residences to members under one membership, has announced a "Green" initiative by selling empty charter jet seats to its members through its corporate jet partners.
Elite Shares Club Offers "Best of the Best" in Luxury Amenities
Date: April 7, 2008
Targeting high-net worth individuals and corporate executives, Elite Shares Club will offer unlimited access to a collection of luxury properties, exotic automobiles, and private jets, all under one membership.