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A&K

Kagehitokiri2

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pretty impressive.

edit - ah, people who havent "upgraded" dont have access.
 
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NeilGoBlue

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Very cool.

At a member meeting a couple years ago, somebody was asking Goeffrey Kent about the recession...

His response was something like.. Recession? We've dealt with governments being overthrown, SARS, Airline Strikes, Volacanoes, wars, etc. You think we can't handle a recession?

I was like, "Good Point!"
 

Kagehitokiri2

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1. are you limited to 24 villas after exchanging for AK credit?

2. does the wording re RC mean that future partners will be partners with both RC and AK?
 
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NeilGoBlue

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Yes, I believe you are limited to the 24 villas (but I could be wrong)

Technically AK has a relationship with the Lion and Crown Club. This is the club that the ritz puts 'weeks/residences' into. I think the intention is for the Lion and Crown club to enroll more partners. Thereby having more potential residences.
 
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Just as an FYI, last week, A&K did a short member call. Annual member call to report financials and club numbers to follow in May.

It was a very succinct call, but a few points that I took away from the call:

2010 expenses were under budget by 200K
Very positive feedback from Ritz Carlton exchange
>90% again received first or second choice in last PBWs (holiday drawings)
Standardized IT (computers, printers, 24 hour technical support) in all houses
TV programming standardization to the extent available (DVRs, movie channels, and pay-per-view movies included to the extent available in destination)
Did refreshes/renovations of something like 5 houses in 2010
Have scheduled the same for about 5 houses in 2011
Refreshes/renovations paid for by capital expenditure reserve account (5% of dues IIRC)
Increased equity buy-ins some
Reduced dues (possible b/c no debt to service)
 
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A few additional A&K related news items:

Flexjet becomes A&K partner:

http://www.abercrombiekent.com/news...nt-Announce-Exclusive-Alliance.cfm?&bcid=1575

A&K Villas added Mustique

http://www.cntraveller.com/news/2011/march/abercrombie--kent-mustique

Official press release on lowering dues and new travel benefits:

"Abercrombie & Kent Residence Club Expands Travel Benefits and Lowers Annual Dues

DOWNERS GROVE, IL – March 22, 2011 … The Abercrombie & Kent Residence Club, the largest equity-based destination club in the industry, announced expanded A&K travel benefits exclusively for Club members, along with a 20% reduction in annual dues.

“Our members realize the benefit of joining a destination club managed by a worldwide luxury travel leader which gives them access to inspiring experiences around the world,” says Abercrombie & Kent Founder and Executive Chairman Geoffrey Kent. In 2010, 15% of the membership traded nights for A&K travel to a wide range of destinations, including safaris in East and Southern Africa, Israel & Egypt, Indochina, Argentina, Peru, Australia, Turkey, Canada and countries throughout Europe.

“While we joined A&K Residence Club to travel to beautiful destinations and stay in beautiful homes, we have been blown away at the way A&K has helped make our vacations memorable,” says member Drew Quartapella. “By taking advantage of A&K’s resources, our family has had some amazing experiences, including a gladiator school and a private Vatican tour in Rome; swimming with dolphins and horse-backing on the beach in the Dominican Republic; deep sea fishing in Cabo San Lucas; bike tours around the walled city of Lucca; and unbelievable gourmet meals provided by personal chefs in the comfort of our private home away-from-home. We continue to be impressed by the efforts of A&K to make our trips great! “

In response to member demand, the Abercrombie & Kent Residence Club has also recently added a new “Universal Plus” 60-night membership for larger families and business use. Membership pricing also changed, with an increase in member capital contributions which reflects the upswing in the real estate market, and a 20% reduction in annual dues made possible by the fact that the Club has no debt service, unlike clubs built on a real estate model.

MEMBERSHIP PLAN HEMISPHERE GLOBAL UNIVERSAL UNIVERSAL PLUS
Nights Included 15 30 45 60
Nightly Dues $865 $800 $755 $715
Access to Abercrombie & Kent Travel, Villas Yes Yes Yes Yes
Capital Contribution $175,000 $300,000 $375,000 $475,000


Perhaps most compelling to prospective members is the Club’s equity membership model. Members own the Club and the Club owns the properties, debt-free. “Most destination clubs are built on a real estate model,” says Kent. “The Abercrombie & Kent Residence Club was founded on a fundamentally different, more conservative ‘equity’ model where capital contributions are secured by the Club’s assets. This provides a measure of security and peace of mind.”

The Abercrombie & Kent Residence Club offers members exclusive use of private residences in beach, mountain and golf destinations, in addition to hundreds of A&K travel experiences. A Global Experience Manager coordinates the travel arrangements with an on-site Destination Host to insure a memorable and stress-free vacation. Members may visit a new destination every time they travel, enjoying all the comforts of home, without the maintenance responsibilities of ownership.

The Club also arranges special access to events such as the Sundance Film Festival in Deer Valley, the U.S. Open in New York City and the PGA U.S. Open on Kiawah Island.

In addition to stays at Club-owned properties, Abercrombie & Kent Residence Club equity members may trade Club nights for access to ten different Ritz-Carlton® Club locations:

Abaco, Bahamas
Aspen Highlands, Colorado
Bachelor Gulch, Colorado
Vail, Colorado
Kapalua Bay, Maui
Kauai Lagoons, Hawaii
North Lake Tahoe, California
San Francisco, California
St. Thomas, Virgin Islands
Jupiter, Florida

More information on the benefits of membership in the Abercrombie & Kent Residence Club can be found at: www.akresidenceclub.com"
 
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While I was pretty much bored out of my mind with the royal wedding stuff, I did think it was neat seeing a fairly long clip of Geoffrey Kent of A&K going into Westminster Abbey on NBC. I do suspect that he got more air time than most because of his quite attractive date. ;)
 

Kirbyson

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Preferred Pricing

The preferred pricing applies to at least the A&K tours. I haven't looked into what this discount might be but believe that it varies.
 

Kirbyson

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A&K Experience - First Year

Based in part on the information shared here and extensive (easily 70 hours, including external legal review) research into the legal and financial information my family joined the A&K club early this year. We met with A&K management in person at their offices after several phone conversations including with the CFO. Our concern was centered on the financial sustainability of the program and its legal structure. The rest of the proposition was something we knew we wanted, essentially a quality product in a few ski and sun destinations and no debt.

We have found that the club absolutely meets our high expectations in terms of hard and soft product, and thus far we've gotten what we need and want from membership. We've also gotten our first choice of houses for holiday periods, including last-minute access to skiing during spring break and to Kiawah for Easter. Initially I had thought that the Ritz exchange program was meaningless to us, but we tried the exchange for the Ritz in Vail Village (1 A&K night got us 2 Ritz nights in a large 3 bedroom in June) and now think it is good to have that option as well. I'm sure we'll return to that property or try another Ritz location.

As part of our research I also looked into every other competitor out there of which I am aware and spoke to each of them. There were one or more reasons that each of them failed our requirements for transparency, security (what happens to your money and what are the prospects that you'll ever get it back?), general business model and/or, in the case of Inspirato, the newness of the business and the fact that the best reason they came up with for why I should sign a check for $10,000 or $15,000 is that the CEO is a good guy. I do think that model has a good chance, however.

All told, we spent over a year casually looking into options, and several months of part-time work to get the best possible understanding of this industry and the options that may look the same but, as everyone here knows, certainly are not. I think we're aware of the major types of risk in the A&K business, and are prepared to accept those risks. Thank you to the many people who helped along the way.
 

travelguy

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Based in part on the information shared here and extensive (easily 70 hours, including external legal review) ...... I think we're aware of the major types of risk in the A&K business, and are prepared to accept those risks. Thank you to the many people who helped along the way.

Glad you are having a good experience with A&K. It's nice to hear about a happy DC customer instead of reading about the hardships of the industry!
 

NeilGoBlue

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Based in part on the information shared here and extensive (easily 70 hours, including external legal review) research into the legal and financial information my family joined the A&K club early this year. We met with A&K management in person at their offices after several phone conversations including with the CFO. Our concern was centered on the financial sustainability of the program and its legal structure. The rest of the proposition was something we knew we wanted, essentially a quality product in a few ski and sun destinations and no debt.

We have found that the club absolutely meets our high expectations in terms of hard and soft product, and thus far we've gotten what we need and want from membership. We've also gotten our first choice of houses for holiday periods, including last-minute access to skiing during spring break and to Kiawah for Easter. Initially I had thought that the Ritz exchange program was meaningless to us, but we tried the exchange for the Ritz in Vail Village (1 A&K night got us 2 Ritz nights in a large 3 bedroom in June) and now think it is good to have that option as well. I'm sure we'll return to that property or try another Ritz location.

As part of our research I also looked into every other competitor out there of which I am aware and spoke to each of them. There were one or more reasons that each of them failed our requirements for transparency, security (what happens to your money and what are the prospects that you'll ever get it back?), general business model and/or, in the case of Inspirato, the newness of the business and the fact that the best reason they came up with for why I should sign a check for $10,000 or $15,000 is that the CEO is a good guy. I do think that model has a good chance, however.

All told, we spent over a year casually looking into options, and several months of part-time work to get the best possible understanding of this industry and the options that may look the same but, as everyone here knows, certainly are not. I think we're aware of the major types of risk in the A&K business, and are prepared to accept those risks. Thank you to the many people who helped along the way.

Welcome to the club!
 
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i presume AK has offered this to members before now?

http://www.akairportconcierge.com/

Yes and no. We've had it for a while as a member perk in Punta Cana (just like owners in Punta Cana), and for select trips, the destination host has effectively provided some of those services. Additionally, they've previously talked about expanding that to all Club destinations to the extent permissible (presumbably in connection with the A&K program), but it has not been rolled out to my knowledge. However, I'm sure the member representative could add that service if a member wanted it.
 
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