Private Escapes Destinations Clubs Launches New Private Escapes Pinnacle

(FORT COLLINS, COLORADO) – August 21, 2006 – Private Escapes Destination Clubs announces today the launch of its new and most exclusive club offering: Private Escapes Pinnacle. With the company’s inception in 2003 and following the roll out of sister clubs Private Escapes Premiere and Private Escapes Platinum in 2004, the founding team created Private Escapes Pinnacle as the next logical step in offering members a selection of membership levels that best suit their needs.

“We have felt from the very origin of Private Escapes Destination Clubs that every member has unique interests, needs and resources, and that we should offer a choice to determine what is best for their individual circumstances,” said Richard Keith, president and CEO of Private Escapes Destination Clubs. “With the addition of Private Escapes Pinnacle, we offer the industry’s only multi-option portfolio where both existing and new members can choose exactly the right club level for them. This has been our plan since the company launched, and we’re thrilled to bring this option to the market.”

With nearly 300 members and 50 resort residences in its existing clubs, Private Escapes Destination Clubs has set itself apart from the competition by consistently introducing unique concepts to the market. Private Escapes Premiere is the first affordable destination club providing a sensible luxury experience, while Private Escapes Platinum is the first and only destination club to offer its members upside to their membership through annual club credits. Now, Private Escapes Pinnacle combines the best attributes of both clubs to offer virtually unlimited travel to the finest boutique resort residences—typically exceeding $3 million in value, incomparable concierge service and extraordinary benefits, making travel that much more seamless. Each club will ultimately provide their members access to 70 residences in 25 locations worldwide and plans to cap at 400 members.

Private Escapes Pinnacle’s fully-refundable membership entrance deposit is $350,000 with annual dues of $22,000 and nightly fees of $185. Additionally, founding members and a limited group of charter members will receive annual club credits based on the appreciation of the assets within the Private Escapes Pinnacle portfolio, which can be used to off-set a portion of annual dues or put towards greens fees, limousines or other activities, a benefit first executed through Private Escapes Platinum. Private Escapes Pinnacle will credit 10 percent of the appreciation pro-rata to eligible members.

Following the standard set forth by Private Escapes Premiere and Private Escapes Platinum, Private Escapes Pinnacle will offer its members the best in service and amenities, beginning with superior residences in extraordinary and unique resort destinations. The club will offer a compelling mix of locations including beach, alpine, golf and spa, metropolitan and European, helping to set the stage for memorable experiences in every property. Each Private Escapes member enjoys the finest home furnishings, linens and appliances, but those found at the Private Escapes Pinnacle level are in a league of their own. Every Pinnacle residence will be outfitted with an iHome clock radio/iPod docking station, linens from Peacock Alley’s new Virtuoso line, Christofle flatware, Riedel glassware, Bang & Olufsen electronics including a surround sound system, an illy espresso machine, two Xbox 360s, L’Occitane bath products, Alora reed diffusers and much more.

“Our goal for Private Escapes Pinnacle, quite simply, is to create a sense of dread in leaving the residence, as members become so completely content in the setting—that is how we will measure ourselves and the real estate acquired,” said Keith. “These marquis properties, which we know members will fall in love with, are ideally located in many of the world’s finest resort destinations and some off the beaten path as well.”

Private Escapes Pinnacle is launching with more than $15 million in real estate assets. Current residences available to Pinnacle members include a penthouse on the 25th floor at 1600 Broadway that overlooks the bustling action of New York City’s Times Square; an impeccably restored antebellum historic mansion in Charleston, South Carolina; an urban penthouse in Chicago’s landmark 1910 building, The Raffaello; the Caleton Estates in Cap Cana, Dominican Republic, part of the $500 million community; a mountain home in The Blue Sky Lodge at Deer Valley, Utah; and a stunning hacienda ideally located in Cabo del Sol, one of Los Cabos’ most exclusive communities.

“As a member of Private Escapes Platinum, I have been blown away by the caliber of residences my family has been able to enjoy as well as the personal service from our travel team,” said Paul McLean from Ontario, Canada. “Upgrading to Private Escapes Pinnacle provided the ideal opportunity to take our vacations to the next level and experience the most beautiful and exclusive properties available.”

Private Escapes Pinnacle takes ease of travel a step further by offering additional member benefits such as entrée to the clubs’ share of flight hours through its fractional jet provider partners and Cellar Advisors personal sommelier service.

With the current portfolio of high-end residences amassed through its sister clubs, members of Private Escapes Pinnacle not only have access to their specific residences, but will also be allotted seven nights per year to more than 50 residences through a three-way reciprocity structure between all clubs. These well-appointed homes are in locations as diverse as Punta Cana, Dominican Republic; Tuscany, Italy; Belize; Lake Las Vegas, Nevada; and Telluride, Colorado. Private Escapes Pinnacle members will be allotted 14 nights of reciprocity until six Pinnacle homes are open and available.

Created by the founding team of Richard Keith, Kären Siwek and Ed Powers, Private Escapes Destination Clubs has thrived under their leadership, which promotes unparalleled member satisfaction in tandem with stable growth and strong financial management. Private Escapes Destination Clubs follows a six-member to one-property ratio, providing a sensible and consistent growth track that ensures all residences are owned versus leased and all members receive the personal attention they deserve. The company’s strong adherence to this ratio with all clubs ensures annual occupancy levels of approximately 50 percent, resulting in availability throughout the portfolio, allowing members to travel wherever they want, whenever they want. Rather than grow membership at a breakneck pace, Private Escapes Destination Clubs remains focused on ensuring that all members are delighted with their experience, regardless of which club they belong to.

“Our team treats members not as No. 1,773, but as individuals with specific requests and desires, thus Private Escapes Destination Clubs is able to offer something other larger clubs lost several years ago: an intimate club environment where personal service exceeds member expectations,” said Powers, executive vice president of operations. “We know your name and who you are and we anticipate your unique needs and wishes.”

Private Escapes Destination Clubs prides itself on exceptional service, delivering stress-free vacations where all details are coordinated and special needs are encouraged. When a member books a vacation, an Escape Planner completes an “Escape Plan,” outlining the entire vacation, from airline reservations and ski passes to tee times, babysitters and more. Upon arrival at the destination, guests are greeted by the Local Host, an on-site concierge whose sole purpose is to make the vacation experience seamless.

This superior service is consistently verified through satisfaction surveys completed by members and a reputable third party. A study recently completed by leading research firm PeopleMetrics identified overall member satisfaction for Private Escapes Destination Clubs as “world class.” According to the survey, Private Escapes Destination Clubs’ member loyalty received an outstanding 96 percent rating in the categories of satisfaction, advocacy and retention. In addition, in June 2006 Private Escapes Destination Clubs self-administered member satisfaction scores reached a high of 4.72 out of a possible 5.0.

About Private Escapes Destination Clubs

Incorporated in October 2003, Private Escapes Destination Clubs includes independently owned and operated affiliates Private Escapes Premiere, Private Escapes Platinum and Private Escapes Pinnacle. Based in Fort Collins, Colorado, each club will ultimately own up to 70 properties in 25 destinations worldwide, and plans to membership at 400 each. A 2005 study conducted by independent, third party research firm PeopleMetrics identified overall member satisfaction for Private Escapes Destination Clubs as “world class”, citing 96 percent ratings in the categories of satisfaction, advocacy and retention. For more information on Private Escapes Destination Clubs, contact 866.536.4700 or visit www.privateescapes.com. For media inquires, please contact Aubrey Gordon at Aubrey@turnerpr.com or 303.333.1402.

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