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Article: Equity residence clubs, pioneered in Utah growing in popularity nationwide
- Article from:
- The Enterprise
- Article date:
- April 9, 2007
- Author:
CopyrightCopyright Enterprise Business Newspaper Inc. Apr 09, 2007. Provided by ProQuest LLC. (Hide copyright information)
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With the Baby Boom generation entering its prime spending years, second home and vacation home ownership is increasingly common - and increasingly expensive. Equity residence clubs are emerging around the country, and the world, as a lower-cost, higherservice alternative.
The equity residence club, or fractional ownership, market has enjoyed phenomena] growth, with the number of fractional interest projects and private residence clubs in North America up from 188 in 2005 to 254 last year. The industry was pioneered by Park Citybased DCP International, which opened the Deer Valley Club in 1992, "and really invented the modem day concept of residence clubs," said Jeff Heilbrun, vice president ...