BelleHavens has become the fourth destination club with funding from a billionaire, joining Exclusive Resorts, Yellowstone Club World, and Ciel as destination clubs backed by a member of the Forbes 400 list.

Helium Report spoke with Bellehavens CEO and founder Darin Gilson (photo, right) to learn about his destination club’s latest round of financing. Gilson was pleased to announce an investment from Hunt Realty Corporation along with additional capital from existing investment partner Sentry Financial Corporation.

Hunt Realty is a subsidiary of Hunt Consolidated, Inc., a privately-owned energy and real estate empire managed by oil scion Ray L. Hunt (photo, below), #292 on the Forbes billionaire list.

Gilson said BelleHavens is not announcing the specific amount of the financing, but noted Hunt “doesn’t invest in lemonade stands” and confirmed a “several million dollar” investment. According to Gilson, the funds will be used for three purposes:

• Fund membership development efforts
• Acquire and build out portfolio of homes
• Invest in customer support structure

BelleHavens will increase its sales and marketing efforts in the new year as well as expand its portfolio to 15-20 fully-owned homes from its current 11 properties. Locations under consideration include London, Puerto Vallarta, Turks & Caicos, Bonaire, Whistler, B.C., Colorado, and Stowe, VT. (Click here to see a map of current locations).

Helium Report Perspective

BelleHavens recently adopted the term “member-owned” to describe their unique destination club concept. In the past, Helium Report analysts categorized BelleHavens’ model as a hybrid between a non-equity destination club and a REIT-model such as Crescendo.

Unlike most destination clubs, BelleHavens uses a higher member-to-home ratio (10:1 target) and acquires homes outright, rather than purchasing homes with a combination of debt and equity. The system is intended to provide deposit security to members, who become shared-owners of the real estate portfolio.

The additional infusion of capital from a well-respected and deep-pocketed real estate investment firm helps BelleHaven remain competitive in an industry that’s still in its early stages. Helium Report has covered six mergers in the last three months, in addition to significant announcements from industry leader Exclusive Resorts.

The options for consumers are narrowing, but the remaining players are showing an increased focus on fiscal transparency. BelleHavens’ model avoids issues with leased homes that tripped up industry pioneer Tanner & Haley. The “member-owned” structure and additional capital help assure prospective members and help BelleHavens distinguish itself from its peers. While a billionaire’s backing does not guarantee success, it certainly gives the destination club a solid financing foundation from which to grow.

CLARIFICATION (1/3/07): We spoke with Darin Gilson and Michelle Stevens (VP Marketing) of BelleHavens who provided an update on the member-to-home ratio we reported above. When factoring in both the homes owned by BelleHavens and those acquired by the development company Banyan Properties, “the current availability ratio is about 5:1 members per home,” they explained. Occupancy was a reported 25% in 2006, siginificantly lower than Helium Report’s 70-75% occupancy recommendation. To learn more about BelleHavens’ and Banyan Properties’ unique model, please request our Decision Guide to Destination Clubs.

Images courtesy BelleHavens.