Best of the Best 2011: Vacation Homes: Private Residence Club: The Ritz-Carlton Destination Club
The line between destination clubs and fractional-ownership programs has become increasingly blurred in recent years. The Ritz-Carlton Destination Club is a prime example, combining elements of both vacation-home concepts in two equity-based membership models.
Introduced in 2009, the Ritz-Carlton club’s Portfolio Membership works much the same as Exclusive Resorts and other destination clubs, except that members acquire a deeded interest in a land trust. Pricing starts at $100,000 plus dues for 5,000 annual points, which can be redeemed for nights at the 10 Ritz-Carlton residence clubs and 69 Ritz-Carlton hotels worldwide. Point-redemption values vary based on factors including the destination, season, and unit type.
Predating the Portfolio option is the Home Club Membership, in which owners purchase a fractional share at a single residence-club destination. Home Club members can use a portion of their time at other residence-club locations, which include Maui, St. Thomas, Aspen, Colo., and more.
The latest Ritz-Carlton club property opened in December in Vail, Colo., just a few yards from the site of a planned new village and gondola. Home Club prices for the 45 residences (two to four bedrooms) start at $125,000 for a one-twelfth interest, or 21 days of usage.
The Ritz-Carlton Destination Club, 800.278.0121, www.ritzcarltonclub.com