Despite the success of destination clubs, they’ve remained, for the most part, an American phenomenon. In the last few years though, we’ve seen the emergence of a number of European clubs hoping to import the model to the continent. U.K.-based Botiga is the latest to join the bunch, as it looks to put an old world touch on a New World vacation concept.

We spoke to Botiga’s managing director Kit Harrison as the club prepares for its launch. Harrison and his management team will draw on their experience running Descent International, an operator of luxury chalets and villas in the Alps and Cote d’Azur. Harrison said the club has 20 members, with one new member joining each day in the last week. He credits the general appeal of the destination club concept, along with his firm’s understanding of the European demographic, for this early success.

“We have an in-depth knowledge of high net worth individuals in Europe that American-based clubs simply do not possess,” said Harrison. He also points to the differences in vacation habits between American and European travelers, and even the challenge of navigating the regulatory and legal strictures of the European Union, as factors that may give his club a leg up against U.S.-based destination clubs.

Equity as the model

Botiga is following an equity model, similar to the one previously employed by U.S.-based Crescendo (now a part of Abercrombie & Kent Residence Club). Club members will actually own the properties through the purchase of shares in an offshore investment fund established on the island of Jersey, off the coast of northern France. Botiga acts as a management company for the fund, directing the acquisition and upkeep of properties, as well as overseeing reservations. When members leave a club, they cash in their shares and the club takes a “performance fee” equal to 10 percent of the share’s appreciation.

Botiga is currently assembling its property portfolio, with an eye towards established luxury vacation destinations favored by Europeans. The first property is a residence in Morocco, with homes in Tuscany and the Spanish islands of Ibiza and Mallorca, set to follow. Botiga will also acquire private hotels built around adventure travel (think a game lodge in Kenya) and city retreats. Residences are expected to have an average value around £4 million (or around $8 million).

Membership, which is priced in Euros, is available in three tiers. Plans for the club’s founding 30 members run from €183,000 to €550,000 per share. Annual dues range from €17,500 to €35,000, but founding members are exempt from paying dues for the first two years of membership. Once the club reaches 30 members, plan prices will rise 14 percent.

Points for reservations

The club uses a points systems for reservations. Members are alloted a set number of points depending on the plan level. The lowest price Affiliate-level plan allows for only off-peak travel. One week stays at properties are assigned a number of points based on demand. Within 100 days of travel, point values for unbooked residences decrease one percent every day, akin to a Dutch auction. In effect, if a traveler is willing to risk it, it might pay to book a vacation at the last-minute. The reservation system may seem slightly confusing at first, but Harrison insists the point system works because it’s “transparent, simple, and fair.”

While Botiga crafts its plans to enter the European market, some U.S.-based clubs are eyeing it as well. Rumors have been circulating that Quintess, with its $210 million equity influx may pursue a European-based club of its own. Abercrombie & Kent meanwhile has expressed an interest in cashing in on its brand recognition on the continent, as the luxury tour operator seeks to establish its residence club as a global proposition.