"Recent economic events have emphasised the need to plan for retirement as early as possible."
Those words begin Golden Years Holidays sales literature, describing the destination club's approach and unique business model.
"GYH is a unique concept, which is more cost effective than any of the 'holidays for life' alternatives," said Chairman Bob Wilson. "Members are not restricted to self-catering holidays but are able to choose from an ever-changing variety of holidays, including fully servied apartments and villas, hotels, cruises, tours and specialist holidays throughout the world. Members also enjoy, depending on the holiday selected, a wide range of complimentary beneftis and, following a one-off purchase, there are no further charges ever."
Golden Years Holidays likens a membership in their club to an annuity. Instead of receiving an income like most annuities, by purchasing an Annual Holiday Entitlement, members are provided travel benefits for the rest of their life.
Aptly titled, Golden Years Holidays is designed exclusively for the 50 and over audience. The price of the Annual Holiday Entitlement directly correlates to the age when the member joins. The older you are, the less you pay to join. The club's unique concept is married to a unique resignation policy as well. If a member elects to resign their membership, they receive "the value of the membership amortised 40% in the first year and then in equal increments each year to the 69th year." If the members lives past their 69th birthday, they continue to receive the benefits of membership.
Unlike the more traditional destination club model, members don't pay annual dues per se, but rather a nominal administration fee associated with Cost of Living Index increases. Members receive an annual contribution of points that are used to make reservations. The points associated with each stay varies based on the season and property, and additional points can be purchased to augment each year's travels. As stated by Wilson, members have access to an assortment of travel options, including cruises, tours, villas, and apartments.
MEMBERSHIP PLANS
Starting at £8,000, Golden Years Holidays' members purchase "holidays for life" when they join the destination club dedicated to providing "a lifetime of exclusive excellence for the over 50s."
Unlike other destination clubs that have preset membership plans with a specific price and attached number of annual nights, Golden Years Holidays has a variable cost structure, based around the age at which the member joins and the number of nights they want to access the club's portfolio annually.
Like a growing number of destination clubs, notably the Ritz-Carlton Destination Club, Golden Years Holidays uses a points based system where members make reservations and access the club's portfolio of apartments, villas, cruises and other luxury travel options by debiting points from their annual allotment.
Members receive these annual points every year they remain a member and only have to pay a nominal "Annual Administration Fee." The redemption value of the membership goes down each year the member remains with the club. To learn more about this unique policy, please view our Golden Years Holidays' Resignation page.
Golden Years Holidays' also has a Golf Life Membership, similar to the standard Life Membership outlined above, but with higher point costs. Members receive free golf benefits for the life of their membership with up to eight rounds per week.
MEMBERSHIP PRICING
As opposed to other destination clubs that have predefined membership plans with a published price and attached number of annual nights, Golden Years Holidays has a variable cost structure, based around the age at which the member joins and the number of nights they want to access the club's portfolio annually.
Golden Years Holidays uses a points based system where members make reservations and access the club's portfolio of apartments, villas, cruises and other luxury travel options by debiting points from their annual allotment.
If you would like to learn more about Golden Years Holidays and receive a price quote based on your age and desired level of travel, please complete our contact sheet and we will be happy to provide you a personalized estimate.
ANNUAL DUES
"Members are not restricted to self-catering holidays but are able to choose from an ever-changing variety of holidays, including fully serviced apartments and villas, hotels, cruises, tours and specialist holidays throughout the world," writes Golden Years Holidays' member and Chairman Bob Wilson OBE. "Members also enjoy, depending on the holiday selected, a wide range of complimentary benefits and, following a one-off purchase, there are no further charges ever."
Members do pay an "Annual Administration Fee," currently set at £123.62 each year, a fractino of the annual cost of other destination clubs in the sector.
PROPERTIES
Segmenting the various travel options available to members, Golden Years Holidays' members have access to cruises, villas, apartments, and other luxury travel options.
Golden Years uses a distinct destination club model, catering exclusively to the over 50s audience. The closest comparison that the club most frequently uses when describing their structure is that of an annuity, where instead of receiving monetary payments, members receive luxurious vacations for the rest of their life.
Villas and Apartments
- Tobago - Palms Villa Resort
- Portugal - Campo Real
- Spain - El Lago
- Mallorca - Villa Carmen
- Mallorca - La Perla
- South Africa - Tranquility
- Crete - Elounda Gulf Villas
- France - Chalet Grassonnets
- England - The Landings
Hotels
- Turks & Caicos - Grace Bay Club
- Quebec - Ermitage du Lac
- Madeira - Casa Velha do Palheiro
- Madeira - Palheiro Estate
- Marrakech - La Sultana
- Crete - Elounda Golf Suites
- Scotland - Gleneagles
- Cumbria - The Samling
- Portugal - Monte do Casal
- Spain - Hacienda San Jose
- Mallorca - Sa Bassa Rotja
- France - L'Auberge, Chateau de Berne
- England - Tresanton
- England - Bovey Castle
- England - Chewton Glen
- Ireland - The Lodge, Doonbeg Golf Club
Specialist Holidays
- Kenya - Grand Safari
- Delhi - Splendours of India
- Cairo - Egypt Treasures and Pleasures
- Portugal - Lisbon and Douro River Cruise
- France - Canal du Midi
- Prague - Vienna Prague and Budapest
- California - California and the Golden West
- Canada - Rockies and Alaska Cruise
Cruises
- South Africa and The Indian Ocean
- European Odyssey
- Adriatic Aegean and Black Sea
- Norwegian Fjords
USAGE
Describing their destination club as a vacation annuity, members of Golden Years Holidays in effect get "holidays for life."
Members pay an up front membership fee when they join, with the price dependant upon the members age at which they join and the number of annual points they want to use at the Golden Years Holidays' portfolio of travel. Over the course of their time as a member with Golden Years Holidays, the refundable amount of the membership approaches £0. To learn more about how this structure works, please visit our Golden Years Holidays' Resignation page.
Members receive vacations for the rest of their life through the club. The club uses a points based system, where the number of points required for a vacation are based upon the property, the season, and the number of nights a member wishes to stay.
This type of structure has grown increasingly popular recently, with clubs such as the Ritz-Carlton Destination Club and the Discovery Club using similar structures.
A points based system has some significant advantages and disadvantages over the more traditional system that most destination clubs use, where each member knows the amount of nights they receive each year with each property and season counting equally.
HOLIDAY ACCESS
To be clear and not confuse the wording used on opposite sides of the pond, Golden Years Holidays markets the primary benefit of membership in their destination club as "holidays for life." While Golden Years Holidays members do have access to the peak holiday periods of Christmas, Easter, New Year's, and others, "holidays" refers to vacations.
An increasingly popular club structure, Golden Years Holidays uses a points based system for reservations throughout the year. Each property has a variable point total, based on the property itself and the season. Similar structures are beginning to gain momentum, like those used at the Discovery Club and the Ritz-Carlton Destination Club.
Members who wish to travel during the peak holiday seasons use more points during these highly accessed times than members who travel during non-peak seasons, even for the same property.
This type of reservation structure has some significant advantages and disadvantages over the more traditional system that most destination clubs use, where each member knows the amount of nights they receive each year with each property is equal despite the season.
MEMBERS
Targeting 3,000 members, Golden Years Holidays is the destination club crafted exclusively for members over 50 years of age.
Based on the their age and desired number of annual points used to access the Golden Years Holidays' properties, members pay a one-time fee for an "Annual Holiday Entitlement." For all intents and purposes, a vacation annuity that provides a member vacations for life.
Members have access to a global collection of vacation options, including luxury cruises, hotels, villas, apartments, and other specialty vacations.
Golden Years Holidays uses a resignation policy that factors in the age of the member when they join, the number of years before their 69th birthday, and an amortized schedule that brings the refundable portion of the member's entitlement to £0.
RESIGNATION
Golden Years Holidays accurately describes their unique offering as providing members "holidays for life." Designed exclusively for those over 50, Golden Years Holidays has created a new resignation and redemption structure that takes into account the members age when they join and an amortized annual draw as the member approaches their 69th birthday.
The amount required to join the club depends on the desired amount of annual points the member desires to use in the Golden Years Holidays' property portfolio and the age at which they join.
According to the club's literature, if a member elects to resign, they would receive "the value of the membership amortized 40% in the first year and then in equal increments each year to the 69th year." For each year the member remains with the club, the value of the membership refund approaches £0.
If a member passes away prior to their 69th birthday, the amount still on their membership will be refunded to the member's estate. For members who surpass the 69 year mark, members simply continue their travels.
EXECUTIVES
Designed exclusively for those 50 and over, Golden Years Holidays promises members "holidays for life," comparing their destination club model to a marriage of luxury vacations and an annuity.
The club not only has a seasoned team of professionals in their respective fields, but a Chairman who is also a member.
Bob Wilson OBE
Chairman and Golden Years Holidays Board Member
Doug Hardwick
Chief Executive Officer
Chris Gupwell
Golden Years Holidays Board Member
Jane Siddons
Golden Years Holidays Board Member
Lawrence Bamber
Golden Years Holidays Board Member
PRESS RELEASES
An intriguing club to emerge out of the United Kingdom, Golden Years Holidays would create a new model for the design of their new destination club.
Bringing an annuity type of structure to the destination club industry, membership at Golden Years Holidays is limited to those 55 and older. Based on the age at which they join, members pay a variable price to join and in return receive holidays for life.
"GYH is an annuity styled product, exclusively for the over 50s - a ‘21st century product’ that leaves the other ‘Holidays for Life’ alternatives, Timeshare, the Holiday Property Bond, Holiday Homes or Fractional Ownership, products of the 80’s, quite simply outdated."
"No other ‘holidays for life’ structure provides such a wide range of holiday options. A member may choose each holiday from an ever changing worldwide portfolio of Apartments, Villas, Hotels, Cruises, Escorted Tours, and Specialist holidays that is constantly being expanded and refreshed with new and exciting destinations replacing those that may no longer be so popular."
"A Life Member makes a one off purchase of an Annual Holiday Entitlement that provides …… instead of an income for life as with an annuity …… holidays for life, and …… again like an annuity …… the older an Life Member is when making an application for membership, the less is paid for the same benefits."
Despite receiving press coverage for this unique model, Golden Years Holidays has no press releases.