What are the key points of the new High Country Club Plan?
Cheng: The biggest news is the size of the High Country Club home portfolio. The club will trim 15 homes from its portfolio and keep 21 homes. Six of those homes leaving the portfolio are leased properties, so the club won’t get any equity from their exit. The shift will effectively increase the club’s member-to-home ratio to 10-to-1. Members should expect tight availability, especially during the peak travel seasons. Other leading destination clubs maintain a member to home ratio of 6-to-1 or lower. The club is also altering its resignation policy by bringing in free market forces. High Country Club, under a one-in, one-out policy, will allow members to set their own sales price for a plan. New member sales at High Country Club have dried up over the past 45 days. Rather than see the resignation list grow and stagnate, the club is giving more power to the member. Resigning members may appreciate that they have the authority to price the membership as they see fit—a strategy that may e
