A new private club makes luxury vacations more affordable

The economic recession appears to have hit luxury vacations as well. Steve Case’s Exclusive Resorts have downgraded their services and are now offering Portico, a new travel service. Portico is a private club that allows the members to make use of their vacation properties at unbelievably low prices while still accessing world-class luxuries. Earlier Exclusive Resorts would charge its members a $175,000 initiation fee and $1,045 per day for travel. With Portico, the members-only have to pay a $10,000 initiation fee and an annual fee of $2,500. It doesn’t sound like a bad deal, does it? This exclusive membership includes a choice of below-market price vacation homes anywhere globally with fully personalized service comparable to a five-star living.

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In his interview, Philippe Bourguignon, the CEO of Exclusive Resorts, felt it was time to create a new market. He said, “Today if you want to go on a luxury vacation, you have basically two choices. You can go to a hotel, and you know what you will get. Most hotel brands have a wide selection of destinations, but they basically all offer the same service. Your other choice is renting a vacation home, where you obviously have more space for yourself and your family, but you don’t have the service that you would find at a hotel.
You might have a housekeeper; you might not. It’s not predictable and consistent. We strongly believe in a market in the middle where so many people want to have that consistent and more predictable experience with better service. Portico gives you hotel experience in a big nice luxury villa”.
[Porticoclub via – Fortune]

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