Quintess, Catch the Dream recently added six new homes in five locations. This brings the club up to 230 members with 38 homes in 24 destinations. Quintess added the following homes, most of them 3-5 bedroom, freestanding residences.

• Vail, Colorado – 2 Homes, one has 5br 5ba, 5,089 sq ft, outdoor spa, ski-in/ski-out. Second home is in the Lionshead Village, ski-in/ski-out, size not listed yet

• La Quinta, California – 4br 4ba, 4,375 sq ft, golf courses, swimming pool,
• New York, New York – 2br 2ba, 1,629 sq ft, Times Square location, rooftop deck
• Kohala Coast, Hawaii – 3br 3ba, 3,763 sq ft, ocean view, pool and spa
• Paris, France – 3br 2ba, 2,077 sq ft, Golden Triangle district, view of Eiffel Tower

We have seen lately that some clubs, particularly Exclusive Resorts, are downsizing their properties in high-cost real estate areas such as Hawaii. It seems that at least for Hawaii, Quintess has also shrunk that home a little to a three bedroom, yet in Vail their new home is 5br 5ba and 5,089 sq ft., and Paris is also one bedroom larger than most club city-location homes. We expect the clubs to start to vary the size of what they buy based on the economics of the location, availability and resale value. Do not expect that the “4 bedroom in resorts, 2 bedrooms in cities” will be adhered to in all locations, as clubs learn how to balance member needs with making money. Quintess is also offering six new membership plans for a total of 12 plans at varying price points. Membership plans will now vary from 15 to 60 days and deposit amounts will range from $175,000 to $690,000. The prices quoted here reflect the company’s price increase, effective December 1, 2006. Prices are increasing by $10,000 to $80,000 per deposit, according to level and $2,000 to $10,000 for annual dues, according to level.

Quintess merged with Dream Catcher Retreats this past August in a $62 million dollar deal – the biggest consolidation in the industry at that point. The combined club properties span locations from Mexico, Costa Rica, Europe, the Bahamas and across the U.S. The homes have an average value of nearly $4 million dollars.

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