Private Residence and Destination Clubs Not Familiar to Most of the Affluent in New Survey

    /24-7PressRelease/ - MIAMI, FL, May 29, 2007 - The American Affluence Research Center surveys focus on the wealthiest 10% of all U.S. households. These 11.2 million households average $256,000 in annual income and $3.1 million in net worth according to the latest Federal Reserve Board study. They account for 36% of total personal income and two-thirds of the personal wealth of all Americans.

The percentage of respondents indicating familiarity with private residence clubs was 33% and 26% for destination clubs. About 6 in 10 of the respondents indicated no familiarity with either concept. These results are generally consistent with a fall 2006 survey by PricewaterhouseCoopers in which 41% of their affluent respondents said they had "heard of" fractional ownership.

Among those indicating familiarity with the private residence club concept, half did not name a brand or company with which they are familiar. The other half named an average of 1.37 private residence club brands, with the hotel-affiliated brands the most frequently mentioned.

Among those indicating familiarity with the destination club concept, only one-third named a brand with which they are familiar.

Some brands/companies were incorrectly named as either a private residence club or destination club, thus indicating some confusion about the two concepts.

Among those indicating familiarity with the private residence club concept, about one in five did not check any of the nine (9) listed brands as one they had heard of.

Among those indicating familiarity with the destination club concept, over half did not check any of the nine (9) listed brands as one they had heard of.

Less than 1% of the respondents reported they would seriously consider the acquisition of either of the two concepts during the next 12 months. Projections of potential buyer interest over the next 12 months among the wealthiest 10% of Americans can be estimated at 1.1 million for full ownership of a second home, 78,000 for destination club memberships, and 56,000 for fractional home ownership units through private residence clubs.

Highlights of the national survey of 398 men and women in the wealthiest 10% of American households can be found on the American Affluence Research Center website, http://www.affluenceresearch.org The survey participants have an average income of $324,000 and an average net worth of $3.3 million.

The complete 27-page report containing 24 tables may be ordered by calling Ron Kurtz at 305-933-4887 or at [email protected]

The American Affluence Research Center provides marketing research, mailing lists, and consulting services that focus on the lifestyles, attitudes, and purchasing behavior of the most affluent segments of the population.

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