Fractional Destination Clubs & Private Residence Clubs

Fractional Destination Clubs operate on a similar basis to the membership model of a private country club, the difference being that they have exclusive access to a selection of properties in several locations or destinations. Normally as with Private Residence Clubs, this model tends to be directed towards high net-worth individuals where memberships can cost between £200,000 and £400,000, which acts like an advance deposit on the membership which is normally limited to a thirty year period. Members pay annual service fees and normally receive a 75% refund of the membership fee when they leave the Club.

Private Residence Clubs [or PRCs as they are often referred to] are designed to meet the needs of high-net-worth individuals who are looking for luxury, flexibility and a high level of personal service akin to that of a 6 star hotel or exclusive private members' club. PRCs have many of the characteristics of Shared Ownership, however, members of a PRC will usually own an interest in a portfolio* of luxurious properties around the world, with the emphasis being on privacy, personal concierge service and first class facilities.

Citadel has the experience and skills to help a developer in the setting-up of Fractional Destination Clubs and Private Residence Clubs and give the ongoing support necessary to ensure that the members' rights to a share of the Club's assets remain protected throughout the Club's life and, where applicable, that these assets are properly distributed to the members in the case where the properties are eventually sold. By appointing Citadel to undertake this role, you can be sure that your project will be set up in the most efficient and cost-effective way and that you will be consulted at every stage to ensure that all of your specific requirements are taken into account.

* Whilst this tends to be the norm, should the developer wish, or if legislation dictates, membership can be linked directly to a specific property