hared vacation ownership is a fast-growing industry. Platinum Destinations’ exclusive destination club, offers luxury properties in exotic locations, attractive refund options and bespoke membership.
Platinum Destinations, an exclusive destination club for fractions, launched recently in South Africa adding over 100 international luxury properties to its base. Platinum Destinations fulfils the needs and desires of its members by offering prestigious and exotic destinations with innovative membership options. This sets it apart from any other destination club worldwide.
Bespoke membership
Sarah de Bue, CEO, with 18 years’ experience in the shared vacation ownership industry has observed and studied the pitfalls and benefits of various shared vacation ownership models and schemes with the end-user in mind.
‘Platinum Destinations has been created exclusively with the member in mind and has been structured so that existing fractional owners or potential members can join and structure their membership in a fashion that suits their individual lifestyle needs, while enjoying flexibility and financial peace of mind’.
Capital refund option
One aspect of the innovative product options is the Capital Refund Option (CRO). The CRO is unique in that an existing fractional owner, or potential member, can determine what portion of the original purchase price will be refunded to them after ten years – 50% or 100%. The product is open for membership to existing fractional owners and those contemplating fractional ownership. ‘Both new and existing shared ownership properties can benefit from this unique feature,’ says de Bue.
Owner flexibility
‘Fractional owners are bound to get tired of travelling to the same location every year, admits de Bue. ‘Our product permits the owner to capitalise on the CRO and simultaneously use his fraction or exchange some of the unused time with alternative properties. A further inclusion in the membership offering is our association with Leisure Link, which enables us to outsource the rental of unused time, on behalf of the owner, to over 220,000 travel agents and 50 million consumers in the USA alone.’
Reduced investment risk
Today’s prospective purchaser of a fraction is educated about shared vacation ownership. Although the concept has gained substantial global momentum, there are ‘bridges’ to be overcome by the majority of fractional ownership offerings. Platinum Destinations’ membership structure addresses every need while giving members the additional security of knowing the purchase price will be refunded at 50% or 100%.
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 Developer benefits
Platinum Destinations offers a host of financial options, which reduces investment risk into all its locations, while maximising use and enjoyment. ‘Having recently launched in South Africa, we have been inundated with enquiries from developers wishing to subscribe their new fractional developments to our organisation,’ reveals de Bue. ‘It is thus crucial that we are highly selective by offering our members the most exclusive geographical locations with the right selection of activities.’
The key benefits for developers are a global exchange network, the association with Leisure Link, with its wide market exposure for rental income on unused fractions, and an original capital refund option. These elements are highly appealing to investors and are inciting great momentum within the market.
Worldwide growth
Platinum Destinations plans to expand its membership to Australia, New Zealand and Europe within the next two months. This is a natural growth phase based on the number of developments worldwide that are embracing the product. ‘It is imperative that Platinum Destinations is prepared for the environments within which it operates,’ stresses de Bue. ‘Exceptional value, diversity and delivery are the key offerings to our members.’
Further information
Platinum Destinations
Website: www.platinumdestinations.co.za
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