Exclusive Resorts, a Denver-based luxury destination club, has raised $20 million in new funding led by majority owner, and AOL co-founder, Steve Case.
Exclusive Resorts, the world’s leading luxury destination club, today announced that Revolution LLC Founder and AOL Co-Founder Steve Case has become Chairman of its Board of Directors, increasing his personal involvement in the Club’s strategic planning. Mr. Case has served on the company’s Board since first investing in Exclusive Resorts in 2003. He acquired majority ownership in 2004. Additionally, Mr. Case is leading a $20 million round of new equity financing to further strengthen Exclusive Resorts’ financial position, and the company recently expanded its industry leadership status by becoming the first destination club to reach the 100,000th vacation milestone.
“We believe we provide more vacations each year – 24,000 in 2009 – than the other destination clubs put together. Although we’re excited to have reached this significant milestone, our focus as we look ahead is on making our members’ next 100,000 trips even better.”
“I’ve increased my commitment to Exclusive Resorts because I believe in the company’s tremendous growth potential,” said Mr. Case. “The experiences we provide our members are one-of-a-kind, combining the best resort destinations throughout the world with luxurious residences, exceptional personalized service, and a dynamic club community. With more and more families focused on making the most of their time together, they are sure to recognize what our members have discovered – Exclusive Resorts is simply a better way to vacation.”
To celebrate its 100,000th vacation, Chief Executive Officer Jeff Potter personally welcomed members KC and Kelly Gallagher to the club’s Scottsdale, AZ destination. The Gallagher’s trip to Scottsdale was their 49th club vacation since joining Exclusive Resorts in 2004. Mr. Potter noted that Exclusive Resorts has created a luxury vacation product so exceptional that its 3,000+ members on average each take seven club vacations per year.
“Being the first club to reach 100,000 vacations, combined with seven consecutive years of member satisfaction with club travel exceeding 90%, demonstrates Exclusive Resorts’ unique scale, success and leadership position within the luxury destination club market,” said Mr. Potter. “We believe we provide more vacations each year – 24,000 in 2009 – than the other destination clubs put together. Although we’re excited to have reached this significant milestone, our focus as we look ahead is on making our members’ next 100,000 trips even better.”
Exclusive Resorts membership now offers more variety and flexibility than ever before. Over the past year, the club added 49 new residences in four of the top luxury destinations in the world: Lake Tahoe, CA; Sea Island, GA; Miraval Arizona; and Kapalua Bay, Maui. The club also enhanced the value of membership with the addition of five new benefits, including family sharing privileges that let members send extended family on their own club vacations, and simultaneous use of two homes to make large gatherings with loved ones even easier.
About Exclusive Resorts
“There’s No Place Like Together.” The world’s leading luxury destination club, Exclusive Resorts is committed to providing its members with rich and rewarding vacations shared with family and friends. Exclusive Resorts combines the best of luxury resorts with the spaciousness and elegance of private residences, offering its members hundreds of homes in dozens of the most sought-after vacation destinations, along with access to world-class resort amenities and exceptional personalized service. Additionally, the club offers its members a variety of unique, private Once in a Lifetime experiences, taking them to fascinating destinations in more than 25 countries on all seven continents. Exclusive Resorts has more than 3,000 members and a real estate portfolio valued at over $1 billion. The Denver-based club was founded in 2002 and began operations in 2003. For more information, visit www.exclusiveresorts.com, call (800) 447-8988, and follow Exclusive Resorts on Facebook and Twitter.