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2010year in review

dear members gatHering room, steamboat springs, co

a world of opportunity Exclusive Resorts began 2010 with two clear goals: deliver the best possible

In 2011, we again have two goals: remain the best way for members to vacation with

service and vacations for our Club members, and complete the first half of our

family and friends, and solidify a platform for future growth by completing our path

two-year path to financial breakeven. Looking back, we believe that with your help

to profitability. We have a comprehensive, achievable plan to get us there. We must

we executed well on both objectives, ending the year a strong and more stable

match our 2010 retention and new membership sales results, while continuing to add

company, well positioned for the future.

new benefits for existing members. We must rebalance our inventory, containing

After more than 120,000 vacations, with overall trip satisfaction exceeding 90% for eight straight years, the Club is in a class by itself as the proven way to enjoy consistently exceptional travel experiences with world-class personalized service. With vacations in over 50 destinations across all seven continents, including a new collection of unique Once in a Lifetime trips every year, our members always have somewhere new to discover.

costs while maximizing your enjoyment of the Club. And we must weather cyclical fluctuations in the value of our residence portfolio, which have no direct impact on our operations, as the luxury real estate market recovers from a historic recession. Everything we do reflects our determination to be a Club you always feel delighted to have joined, and excited to tell others about. One of the best parts of membership is knowing that, no matter where or when

We surpassed $100 million in annual revenue in 2010, retained 95% of our members, and increased membership sales and upgrades by more than 50% to $66 million. Many of our new member families joined with your help through our Share Your World referral program – we greatly appreciate your support. Our 2010 results, combined with ongoing cost reductions, helped keep us on track to reach breakeven,

you travel with us, the service, residence, and experience will always be consistent and great. Today we are a vibrant, disciplined Club, well prepared to deliver on that promise for many years to come. Thank you for sharing our confidence in the bright future for Exclusive Resorts. With sincere appreciation,

which we believe is the key to unlocking a new world of opportunity for the Club and our members.



club experience once in a lifetime, australia: sydney and tHe great barrier reef

a dynamic community, a smart choice Club members


Exclusive Resorts has approximately 3,300 dues-paying members. Half of

and YouTube, and introduced our new Discover blog. Thousands of

them benefited from another member’s input in their decision to join the

members and their families embraced these new ways to connect, sharing

Club. The membership is as diverse as ever, coming from 50 states and 23

their Exclusive Resorts experiences with each other and the world. On

countries. As in past years, two-thirds have school-aged children, and one-

tap for 2011? A convenient tool on ER Compass to help you plan onsite

third are empty nesters. Members continue to prioritize traveling in larger

activities with other member families.

groups, and through the now-standard family sharing benefit, they can all enjoy treating extended family to Club vacations of their own. To showcase the rich Exclusive Resorts experience, this Year in Review features more photos of members on Club vacations than ever before.

Club Value Over the years many members have told us why they believe the Club is a better, smarter choice for consistently exceptional vacations. Luxury resorts? Cramped guestrooms, no kitchens, minimal privacy. Villa rentals?

Club Community

Unpredictable accommodations, spotty service, limited amenities. And

Our dynamic member community is united by shared values: a commitment

second homes? In addition to the costs, why buy one vacation home to

to quality time with family and friends, an appreciation of the good things

use just a few weeks a year in a single destination, when you can enjoy

in life, and a belief that any vacation spent worrying about details is a

hundreds all around the world, each with the Club’s unmatched service? We

wasted opportunity. To enhance our sense of community, this year we

recognize our members have many choices, so we will never stop improving

launched a full suite of social media initiatives on Facebook, Twitter, Club

to ensure we offer the best luxury travel experiences, at the best value.



personalized service greg, residence manager • vail


& beaver creek onsite concierge team



great service is the key to great experiences why is exclusive resorts better?

your onsite experts

Exclusive Resorts offers hundreds of spacious luxury residences in

Our Onsite Concierge staff is always available to handle basics like

dozens of the most sought-after destinations in the world, paired

reserving tee times, making spa appointments, arranging private chefs,

with resort amenities. But that’s not the main reason members

and even assisting with family reunions or other special events. But

love the Club. They love it because we take care of everything —

their favorite part of their job is coordinating all the special details that

planning, reservations, grocery shopping, daily housekeeping, onsite

make each trip unforgettable. This includes using their unmatched

experiences, kids activities — from the moment they decide to

local expertise to guide you to your very own “best of the best”

take a trip until the moment they return home. Our expert service

in every destination, ensuring a customized experience wherever

professionals give you exactly what you are looking for on each

you travel. We are proud to have maintained our standard of one

vacation: complete peace of mind, with time that is all your own to do

concierge on average for every four residences, unlike a typical five-

as much (or as little) as you please.

star resort that may have one concierge desk for 200 or more rooms.

your personal guides

a case study

For a remarkable eighth year in a row, overall member satisfaction with

To appreciate just how uniquely exceptional the Club’s service really

our Member Services Managers (MSMs) exceeded 95%. How does

is, consider this “case study” from Vail, CO. Two years after opening

our team do it, year after year? By cultivating personal bonds at every

the destination, we took over the concierge role for our members

opportunity, and using their ever-growing knowledge of members’

from our resort partner, applying all we have learned about fulfilling

individual interests and preferences to craft customized vacation

your high standards and expectations. Expanding our existing Onsite

experiences. Many members have benefited from the consistent

Concierge staff in nearby Beaver Creek, we made enhancements

assistance of the same MSM for over five years, resulting in a deep

that increased overall member satisfaction in Vail to 99% — a truly

rapport that helps us add personalized touches to surprise and delight

incredible accomplishment for our dedicated team (pictured on the

on every trip.

facing page). Just one more indication of how, when it comes to personalized service, we do things better at Exclusive Resorts.



member satisfaction miraval arizona, tucson, az real del mar, puerto vallarta, mexico

exceptional vacations, trip after trip Member Satisfaction We believe consistently exceptional vacations and service — trip after

planners and last-minute travelers, with about 40% of trips taken with

trip, year after year — are why we have exceeded 90% in member

Advanced Reservations, and 60% made on a Space Available basis.

satisfaction with Club travel for eight straight years. It is also why, even as overall luxury spending declined worldwide, more than 400 members have upgraded their memberships since the beginning of 2008. Every member experience starts with our commitment to make it the best vacation we have ever delivered, and ends with a post-trip survey to gather immediate feedback on things that worked well and ways we can do better. Two areas we are focused on for 2011 are improving our “Likelihood to Recommend” score, which increased steadily during the year, and expanding our program of members-only travel benefits and privileges.

Club Availability Our surveys tell us how important availability is to our members, and while demand will always spike for certain destinations at selected times, we work constantly in this area to maximize your enjoyment of the Club. Residences were occupied by members 66% in 2010, or about 240 days a year, and 67% in 2009, compared with our longstanding 70% target residence occupancy rate. We continue to use seasonal leases and our Once in a Lifetime program to provide “burst” inventory for high-demand periods, and innovate our release processes on ER Compass to make obtaining reservations easier and

Club usage

more convenient. As we start the year, members have more than

Members continue to use the Club for all types of vacations, from

13,200 reservations in place for future trips, or about four vacations

weekend getaways to week-long family trips to special events and

each, with approximately 2,200 trips (of four days or more) in 34

celebrations. Over the course of 23,100 vacations and 97,800 total

destinations still available over the next 120 days. Looking ahead,

days travelled in 2010, 85% of members averaged 95% use of their

78% of total Club inventory remains available for 2012. Based on

membership days. The typical member again took about seven trips

more than 18,000 cancellations in 2010, thousands more trips are

with us, underscoring how we make traveling easy and convenient.

guaranteed to become available over time through the Cancellation

Similar to past years, the Club was easy to use for both advance

Watch List.



destinations and residences tuscany, italy tuscany, italy

an incredible array of choices Exclusive Resorts offers an unparalleled way to travel the world in style. With

adjusted to respond to member demand and growth, including seasonal leases

vacations in 50 destinations, including a new collection of Once in a Lifetime

that often make better economic sense for high demand periods than adding

experiences each year, members have constant variety in where they can travel

incremental homes. As of December 31, 2010, the Club owned 85% of all

with the Club. Our 370 luxury residences, with space to host family and friends,

residences and leased the remaining 15%, higher than our target mix of 75%

mean members never have to stay in the same place twice — though many

owned and 25% leased.

enjoy returning to favorite homes again and again. With such an incredible array of choices, our typical member has visited only a third of our destinations.

We continued to rebalance the portfolio to meet our members’ needs, while avoiding unnecessary expenses associated with carrying underutilized properties — always managing to our long-standing target 70% residence

Despite the challenging economy, we added 15 new residences in two

occupancy rate. With occupancy indicating a surplus of homes, we sold 31

destinations in 2010, restructuring transactions to ensure we added only

residences during the year, emphasizing destinations with lower member

what we needed, on terms reflecting market conditions. We opened five

usage and higher operating costs. We plan to follow a similar strategy in 2011.

four-bedroom homes at the base of the gondola at One Steamboat Place in

In addition, we continued our seasonal adjustment program, managing our

Steamboat Springs, CO and 10 corner residences at the Vdara Hotel & Spa in

inventory to better match low-demand periods in Scottsdale, AZ;

Las Vegas, NV. Member satisfaction with vacations in these new residences

Bovey Castle, England; and other selected destinations.

averaged 93% last year.

Looking ahead, we believe becoming profitable will generate increased

To preserve depth and variety within our portfolio, we maintained four popular

momentum for new membership sales. The resulting growth should create

destinations by renewing leases in Paris, London, Laguna Beach, and Megève.

opportunities to add new destinations, residences, and experiences for all

We use leased residences as flexible inventory that in most cases can be easily

members to enjoy.



activities and amenities costa rica

wHistler, bc

big island, Hi

lake taHoe, ca

where and what will you try next? of every detail. The result? With Exclusive Resorts, you don’t just visit a

new places to explore with the Club. They also have access to an incredible

destination, you experience it as never before. Here are just a few of the

variety of customized activities and amenities everywhere they go, all easily

hundreds of exciting activities members and their families enjoy across our

arranged with a single phone call to their Onsite Concierge, who takes care

portfolio, creating unforgettable memories together:

• Big Island, Hawaii: Ski and Surf the Same Day. Ski 14,000 foot-high

• Sea Island, GA: World-Class Golf. Enjoy tee times on the famous

Mauna Kea in the morning, then surf Hapuna Beach on the sunny Kohala

Seaside Course at this legendary beachfront resort, one of more than 100

Coast the same afternoon.

championship golf courses available throughout our portfolio.

• Real del Mar, Mexico: Dolphin Trainer. Interact with a family of

• French Alps: Canyoning Adventure. Explore the stunning Belle au Bois

Pacific bottlenose dolphins alongside a professional trainer in a safe,

waterfall on a private hiking, rappelling, and swimming excursion just

humane environment.

outside Megève.

• Whistler, British Columbia: Heli-Skiing. Take a helicopter to discover

• Bovey Castle, Devon, England: Falconry Class. Enjoy a falconry class

untracked powder over endless terrain, where wide-open glaciers and

with a world-renowned falconer, taking the birds of prey on your arm and

pristine tree runs await.

learning how they track their prey.

• Miraval Arizona: Equine Experience. Embrace a journey of self-

• Once in a Lifetime Tanzania: Freshwater Lake Diving. Leap into

discovery at this top-rated spa resort, marveling as horses reveal your

Tanzania’s Lake Tanganyika, the world’s second largest freshwater lake, to

personal patterns of learned behavior.

view hundreds of unique species of fish.

• Abaco, Bahamas: Bonefishing. Cast your line into crystal clear Caribbean

• Costa Rica: Zipline Canopy Tour. Fly across the top of the dense

waters with an expert private guide in the best bonefishing destination in

rainforest canopy, whizzing through the air in a harness suspended from

the world.

cables high in the treetops.


With 50 vacation destinations to choose from, members always have exciting


destination portfolio

Whistler, BC

Jackson Hole, WY Lake Tahoe, CA Deer Valley, UT San Francisco, CA Laguna Beach, CA

Las Vegas, NV

Steamboat Springs, CO Vail & Beaver Creek, CO Snowmass, CO Telluride, CO

Chicago, IL

Sailing aboard The World Kiawah Island, SC

Scottsdale, AZ

Sea Island, GA

Tucson, AZ

Bonita Beach, FL Los Cabos, Mexico

Carnegie Abbey Club, Newport, RI New York, NY

Real del Mar, Puerto Vallarta, Mexico

Ft. Lauderdale, FL

Miami Beach, FL

Turks & Caicos Grand Cayman, Cayman Islands

Kapalua Bay, Maui, HI Wailea, Maui, HI Kohala Coast, Big Island, HI

The Abaco Club, Bahamas

Peninsula Papagayo, Costa Rica

Rosewood Little Dix Bay, British Virgin Islands

Bovey Castle, Devon, England

London, England Paris, France



Peninsula Papagayo, Costa Rica

Vail & Beaver Creek, CO

Sea Island, GA

Deer Valley, UT

Grand Cayman, Cayman Islands

Snowmass, CO

Rosewood Little Dix Bay, British Virgin Islands

Whistler, British Columbia

Ft. Lauderdale, FL

Jackson Hole, WY

Bonita Beach, FL

French Alps

The Abaco Club, Bahamas

Telluride, CO

Turks & Caicos

Lake Tahoe, CA

Real del Mar, Puerto Vallarta, Mexico

Steamboat Springs, CO

Los Cabos, Mexico

French Alps, France Tuscany, Italy

Laguna Beach, CA


Miami Beach, FL

New York, NY

Kiawah Island, SC

Paris, France

Kohala Coast, Big Island, HI

Chicago, IL

Wailea, Maui, HI

Las Vegas, NV

Kapalua Bay, Maui, HI

San Francisco, CA London, England

leisure Tuscany, Italy Miraval Arizona, Tucson, AZ Bovey Castle, Devon, England

2010 once in a lifetime experiences • Australia: Sydney and the Great Barrier Reef • French Countryside: Authentic Villa Escapes

Carnegie Abbey Club, Newport, RI Scottsdale, AZ Sailing aboard The World

• Northern Europe: Scandinavia & Russia by Sea • Peru: Machu Picchu, Cusco, and the Sacred Valley • Rocky Mountains: Family Dude Ranch Experience • South Africa: Cape Town and Kruger National Park


• Fiji: Wakaya Club & Spa


once in a lifetime frencH countryside

soutH africa

macHu piccHu


bringing members the world Seven continents. 26 countries. 28 experiences. 92%

Our 2012 experiences will include trips to six countries we

satisfaction rating. These are the numbers for our Once in a

have never offered before — including Brazil, New Zealand,

Lifetime program as it approaches its fifth year of combining

and Vietnam — again with the full comfort and convenience

unique trips around the world with the expert itinerary

of Exclusive Resorts behind every journey.

planning and personalized service for which Exclusive Resorts is known. In 2010, more than 2,000 members and their guests traveled with us on Once in a Lifetime journeys. These trips represented approximately 4,700 days, or about 3% of total available days. Among many highlights from our 2010 experiences, one merits special mention: a trip with members to Australia for a memorable week exploring Sydney and the

2011 experiences • Galapagos: Family Expedition at Sea • Mediterranean Cruise: Istanbul to Athens • Patagonia: Authentic Andean Villa Retreats • French Countryside: Authentic Villa Escapes • Fiji: Wakaya Club & Spa • Tanzania: Ngorongoro, the Serengeti and Lupita Island

Great Barrier Reef, during which Exclusive Resorts touched

2012 experiences

down on the seventh continent.

• Vancouver & The Gulf Islands: A Family Expedition

In addition to serving as a constant source of new variety for Club travel, Once in a Lifetime trips are a powerful tool for enhancing availability. Members who take them experience far corners of the world in true Exclusive Resorts style, and those who do not have more access to our core destinations — including during holiday weeks and other peak demand

• Brazil: Rio de Janeiro, Iguaçu Falls & The Amazon • Italian Cruise: Food & Wine • Southeast Asia: Vietnam, Cambodia & Laos • Fiji: Wakaya Club & Spa • New Zealand: A Family Adventure • Namibia: The Namib Desert & Ongava Safaris

periods, when we strategically schedule selected trips.



member connections member golf tournament

wine tour member event

first tracks member event

game fisHing member event

every vacation should be an event MEMBER EVENTS Our Member Events program has welcomed more than 1,200 members

Inspired by feedback from members on the importance of making

and their guests over the years, treating them to VIP experiences nearly

membership more accessible for their referrals, we introduced a new

impossible to enjoy outside the Club. At our “First Tracks” event in Vail,

flexible program to help grow the Club. The program allows prospective

CO, members not only went up the mountain with private guides, they

members to pay a portion of the Membership Fee upfront and the balance

rode the lifts a full hour before any other skiers, for a one-of-a-kind fresh

over time — up to four years — much like the payment flexibility consumers

powder experience. At our sixth annual Golf Tournament, held last year

have come to expect when purchasing other luxury items. Because a lower

at the Sea Island Golf Club, members enjoyed exclusive access to the

upfront payment enables new members to join the Club sooner, without

famous Seaside Course, site of the PGA TOUR’s newest event. Looking

the need for significant immediate liquidity, we believe this program

ahead, our slate of 2011 events may be our most exciting ever, with never-

is one reason we continue to grow despite the challenging economic

before-offered, members-only experiences at the Kentucky Derby and the

environment. Approximately 30% of our new membership sales in 2010

Masters Golf Tournament in Augusta, GA.

were through this program.


We continued our Club Sponsored Guest (CSG) program as a way

We launched our Share Your World member referral program in 2010

to give member referrals and families considering joining the Club a

to make it more convenient and worthwhile than ever for members to

chance to experience Exclusive Resorts, to confirm that membership is

help grow the Club, which helps us provide the best possible variety of

right for them. Approximately 350 CSG trips took place during the year,

residences and destinations. More than 700 members participated in the

contributing to 35 new membership sales. The program is factored into our

program’s first year, referring over 1,000 potential new members. As a

overall portfolio planning, and emphasizes trips during shoulder seasons

result, almost half of our new membership sales during the year involved

in a limited number of destinations where we have significant depth. As a

a referral, earning many members their choice among several valuable

result, we believe it has minimal impact on member use (1% of total days),

program rewards.

yet provides a very valuable “try before you buy” tool. We are exploring


ways to make it an even more effective part of our growth plans in 2011.


miraval arizona

financial strengtH and stability

the path to breakeven CLUB INFORMATION


In 2010 we successfully executed on the first half of our two-year plan to reach

The Club continued to remain in compliance with all three tests set out in our

financial breakeven. We remain on track to achieve this goal by the end of 2011,

member agreements. First, we were within the 50% secured debt-to-property value

which we believe will strengthen our long-term foundation and create a solid platform

ratio. As of December 31, 2010, our $360 million of bank debt was approximately 44%

for growth. We encourage members who are interested in additional details on the

of the $812 million value of our owned real estate portfolio. Second, the Club again

Club’s financial operations to refer to the “Letters from the Club” section of our ER Compass website.

met the requirement that refundable Membership Deposits be used exclusively for

CLUB MEMBERSHIP We increased sales of new memberships and membership upgrades by more than 50% in 2010. Of our 204 new members, 78 joined in the fourth quarter, our strongest three months since mid-2008. As of December 31, 2010, we had approximately

real estate–related purposes (or held in cash or cash equivalents), meaning that every dollar of Membership Deposits we have collected has been invested directly into real estate (or held in cash or cash equivalents). Third, the member-to-property ratio as of December 31, 2010 was 5.4-to-1, compared to 5.5-to-1 in 2009, well below our 6-to-1 requirement.

3,300 dues-paying members, with 95% of members retaining their membership


during the year. Importantly, we exceeded our goal of 100,000 days sold. Average

The Net Asset Test is an internal analysis the Club uses as a measure of the current

monthly resignations returned to our pre-recession historical rate, with a total of 161

value of our assets relative to our obligations, including repaying all refundable

resignations for the year (approximately 5% of members). As of December 31, 2010,

Membership Deposits under the terms of our member agreements. To calculate this

there were 495 members on the resignation list, or 13% of the total membership, of

test, we add the appraised fair market value of our owned real estate portfolio plus

which about half continue to pay Annual Dues and travel. In addition to selling new

our cash holdings, and then subtract all secured debt and refundable Membership

memberships, we continue to explore other ways to reduce the resignation list.

Deposits. The numbers used in calculating the Net Asset Test are audited or

A COMPREHENSIVE PLAN We have put together what we believe is a comprehensive and achievable plan for 2011 to reach our breakeven goal and all the benefits it will bring for the Club and our members. The plan is designed to succeed by repeating the results we achieved in 2010: sell 200 new memberships, retain 100,000 total days, improve our overall member satisfaction and “Likelihood to Recommend” survey scores, realize additional cost reductions, and maintain the right number of residences by targeting 8–10% of giving us confidence we can achieve our plan goals and open a new world of growth and opportunity for Exclusive Resorts.

market value of our real estate plus our cash holdings represented 75% of our secured debt and refundable Membership Deposits, compared with 95% at the end of 2009. This decrease results primarily from reappraisals of 80% of our real estate portfolio in 2010, and has no direct impact on our day-to-day operations. As a long-term holder of real estate, we believe the decline is cyclical and temporary, driven predominantly by the historic recession, and we expect the value of our owned residences to rebound, particularly because our homes have held about 90% of the value of their original cost basis.


our owned homes for disposition. We see positive indicators as we begin the year,

determined by expert, independent third parties. As of December 31, 2010, the fair


new york, ny

operating excellence

best practices, for better results spending less, doing more From 2008 through 2010, we achieved significant gains in

Christmas and New Year’s holiday week release on ER Compass

efficiency across all three of our major operating cost areas.

our smoothest ever. In 2011, we will release all of our upcoming

We lowered corporate overhead by 25%, with changes to

Once in a Lifetime experiences together on the same day, so

Annual Dues payment options set to save an additional

members can rank their requests more effectively and prioritize

$2 million in credit card fees in 2011. We cut overall member

the trips they most want to take.

acquisition costs by 50%, due in part to better efficiencies in our sales structure. We reduced property costs by more than $3 million, despite increases in third-party expenses, while continuing to prioritize the member experience. During this same period, our EBITDA swung from a $4.6 million loss to positive $3.2 million — and overall member satisfaction with Club travel increased from 93% to 95%.

MEMBER communication Some members just want to enjoy Club vacations, others like more detailed information about Club operations. We strive to deliver a useful level of communication for all members. To keep you up-to-date on our operations, we completed our first full year of quarterly member updates. To take advantage of your ideas and suggestions, we held regular meetings with the member-elected Member Advisory Committee. As part

Making the Club easier for members to use is a constant priority.

of our commitment to improve transparency, we continued to

In 2010 we embarked on an intensive program to improve

provide members summary and audited financial information.

tools for reserving high-demand inventory. We conducted a

To strengthen our core communication channels, we added

special survey to gather member feedback, developed a “pilot

video and expanded member-generated content to our

program” release of selected summer 2012 inventory modeled

monthly Exclusive Living newsletter, and streamlined our ER

on our highly successful Residence Allocation System, and

Compass destination pages to make them more informative

implemented enhancements that helped make our recent

and convenient to use.


convenient new tools


on tHe Horizon kapalua, maui, Hi

a near-term goal, a long-range view opening the door

closing in on a decade

We believe reaching our breakeven goal will result in an even better

We are now in our ninth year operating a global world-class luxury

Club for our members, opening the door to new destinations,

hospitality business, always striving to execute on our promise to

residences, and experiences. As a profitable company, we should

provide you a uniquely special way to travel with family and friends.

see greater sales momentum, access to capital, and more favorable

We have learned a lot, making significant enhancements along the

opportunities in all we do. In anticipation, we are carefully monitoring

way, and today membership is an even more compelling way to travel

real estate and hospitality markets to identify the most effective ways

the world than it was just a few short years ago. It has taken sustained

to enhance the member experience in the future.

energy and determination from our employees to realize this vision, as

a platform for growth For the longer-term, profitability will also create a platform for Exclusive Resorts to explore new opportunities within the luxury travel market. We have the assets and expertise to expand our presence

well as the passion and support of our members. As we draw closer to a decade of serving you, we renew our commitment to provide consistently exceptional luxury vacations that you simply cannot experience anywhere else.

and reach: a respected brand, a proven and scalable service model and team, great member advocates, and deep relationships within the luxury hospitality industry. By growing our offerings and brand recognition, we can explore new ways to bring you even more of the world.



lake taHoe, ca

inside tHe numbers

inside the numbers Members Love Club vacations

the club’s personalized service is second to none

• Members take an average of seven trips per year with the Club

• Member satisfaction with their Member Services Managers (MSMs) was 98% in 2010

• 85% of members averaged 95% use of their membership days

• Many members have had the assistance of the same MSM for over five years

• The Club has exceeded 90% in member trip satisfaction eight years in a row

• The Club averages one Onsite Concierge for every four residences

• Over 400 members have upgraded their membership since the start of 2008

• We have reviewed 45,000 post-trip surveys in fine-tuning the member experience

members enjoy great Choice and Variety

club travel is easy and flexible

• The Club offers travel to 50 worldwide destinations, including new

• 45% of reservations during Christmas 2009/New Year’s 2010 were Space Available

Once in a Lifetime experiences each year

• 2,200 trips in 34 destinations are available for travel in the next 120 days

• Members enjoy 370 private luxury residences, with room to host family and friends

• 78% of total Club inventory is still available to book for travel in 2012

• The Club has brought members to all seven continents around the world

• Each year the Cancellation Watch List gives every member on average the chance

• The average Club member has not yet visited 66% of the residence portfolio

to book two vacations that were not initially available

2010 was a strong year for the club

the club has a strong and stable foundation

• The Club retained 95% of its members

• There are 3,300 dues-paying members in the Club

• New membership sales and upgrades totaled $66 million

• The Club owns more than 300 of the residences in its geographically diverse portfolio

• Total vacation days sold exceeded 100,000

• Over eight years, the Club has delivered more than 120,000 vacations for members

• Annual revenue surpassed $100 million

• Total new membership sales and upgrades since the Club’s founding exceed $1 billion



Except as otherwise specified herein, information is current as of 12.31.10. This 2010 Year in Review contains forward looking statements that reflect the Club’s best judgment as of the date they were made. Such statements are made as of 12.31.10 based on then-current facts and reasonable assumptions and are subject to change. Our company financials have certain differences compared to GAAP-prepared statements and have not been audited. Aggregate market value of properties described herein is based on good faith estimates as of 12.31.10. Current Club destinations and residences subject to change. Membership, including refundability of a portion of the Membership Fee, is subject to terms and conditions of Club Membership Agreement. Different terms and conditions apply to different Membership Plans. See for details, including list of Club destinations, residences, Once in a Lifetime experiences, and other information. Exclusive Resorts, the Exclusive Resorts flower logo, and “There’s no place like together.” are registered service marks of Exclusive Resorts, LLC. ©2011, Exclusive Resorts, LLC. All rights reserved.

15151515 Arapahoe Arapahoe Street Street • Tower • Tower 3, Suite 3, Suite 300 • Denver, 300 • Denver, CO 80202 CO •80202 866.863.2688 • 866.863.2688 • •

2010 Year in Review  

Exclusive Resorts - 2010 Year in Review

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