Club Holdings, the parent company of luxury destination club, Quintess, The Leading Residences of the World, has received a $210 million equity commitment from an undisclosed private investor. The investment represents the largest infusion of capital to date for a luxury destination club, according to the firm.
The $210 million capital commitment in Quintess, which takes the country club model and applies it to luxury vacation homes, will be used in its ten-year financing strategy. “There are exceptional opportunities to develop and acquire luxury real estate in the world’s finest destinations on very favorable terms,” Pete Estler, Quintess chief executive said in a statement. The capital will be used for the development of new businesses, corporate mergers and acquisitions, and real estate development projects.
Investments in the leisure and hospitality property sector have been robust in recent months. The Kimpton Group, parent company of boutique hotel chain Kimpton Hotels, announced earlier this month the closing of its third real estate fund, Kimpton Hospitality Partners II, on $246 million (€157 million). With leverage, the vehicle would allow the hospitality investor to acquire more than $800 million of lodging assets over the next three years.