3RD HOME, the pioneering luxury home exchange, achieved another new milestone. On February 9, 2016, the portfolio of member homes passed the 5000 mark. The portfolio of luxury properties is unmatched in the luxury vacation home exchange industry, totalling over $11.2 Billion in value. The growth of the club is due to the trust and support of our members and affiliate partners.
Today, 3RD HOME, the pioneering luxury home exchange, achieved a new milestone. The portfolio of member homes passed the 4000 mark. The portfolio of luxury properties is unmatched in the home exchange industry, totalling over $9.1 Billion in value. The growth of the club is due to the trust and support of our members and affiliate partners.
Nashville, TN, April 22, 2014 – 3RD HOME, the premier reciprocal travel club for luxury second homeowners, and The Ritz-Carlton Destination Club® announced a unique affiliation that will allow both brands to expand the luxury travel options available to their respective members.
3RD HOME members will now be able to exchange time in their homes to visit The Ritz-Carlton Destination Club’s six luxury destinations across the United States and the Caribbean including: Aspen Highlands, CO, Jupiter, FL, Lake Tahoe, CA, San Francisco, CA, St. Thomas, U.S. Virgin Islands, and Vail, CO. Similarly, The Ritz-Carlton Destination Club Members will now gain access to the over 1,850 properties in 70 countries that are part of the 3RD HOME portfolio.
Wade Shealy, Founder and CEO of 3RD HOME comments: “Our commitment to partnering with the very best has never been more evident than it is today. The Ritz-Carlton® brand is synonymous with luxury. By providing access to The Ritz-Carlton Destination Club properties, we will significantly enhance the 3RD HOME member experience. We are looking forward to hearing our members’ stories of spectacular stays as well as welcoming The Ritz-Carlton Destination Club Members to join 3RD HOME.” Lee Cunningham, Executive Vice President & Chief Operating Officer of The Ritz-Carlton Destination Club comments: “We are thrilled to be collaborating with 3RD HOME, adding this exceptional portfolio of homes and destinations for our Members to enjoy.”
The Ritz-Carlton Destination Club joins an already expansive collection of global residences and award-winning 3RD HOME affiliates including Auberge Resorts and Trump International Hotel & Tower®, NYC.
Founded in 2010 by luxury real estate industry veteran Wade Shealy to fill an expressed need of second homeowners, 3RD HOME affords members a safe and trustworthy way to expand the use of their second homes and travel the world without the expense of renting.
3RD HOME currently features over 1,850 properties in 70 countries with an average value of $2.3 million (USD) per home and a portfolio value of over $4.5 billion.
For more information, please visit www.3rdhome.com
Steve Zacks, 3RD HOME
A leading website on loyalty intelligence, Colloquy, reports that the pooling of points with friends, family members and charities with a rewards program increases loyalty and usage. They quote “The Share the Love: 2014 Consumer Study” with statistics that proved the point. 70% of respondents would shop more often and 45% would spend more if sharing of their reward points were allowed. Citibank and JetBlue are cited as examples of companies that are allowing sharing. 3RD HOME was created to allow individuals to get more value from their vacation home investment by sharing it with others. We agree that sharing increases utility!
Steve Zacks, 3RD HOME
Hoteliers, in the news, commenting on the impact of the shared economy, have been debating whether such stays, including those by members of 3RD HOME the luxury vacation home exchange, are incremental trips, or replacing stays normally made at hotels. Based on the thousands of trips 3RD HOME has facilitated we can state with certainty that both are true.
Our members love the fact that they can exchange unused weeks in their luxury vacation homes for stays at similar accommodations around the world and save thousands per trip. The lower cost of travel makes our members more spontaneous and increases the number of vacations taken per year.
At the same time, the ability to stay in a home creates a different type of vacation experience that replaces a traditional hotel stay. The large shared spaces of a home, as compared to a hotel, make for great multi-family, multi-couple, and multi-generational trips. And many travelers enjoy the local experience that can be achieved by staying in a home. Many home owners will share their expert advice to allow their guests to truly live like locals. And the cost of a luxury home exchange via 3RD HOME barely dents the wallet compared to several hotel rooms at an equivalent resort.
Does the shared economy, and reciprocal travel clubs like 3RD HOME, increase travel occasions or simply replace trips that otherwise would have been taken? The answer is not one or the other, it is “both.”
Steve Zacks, 3RD HOME
I noted two very interesting findings in a recent study on Affluent Travelers by Google and Ipsos MediaCT.
First, 48% of affluent travelers plan to research or use peer-to-peer sharing alternatives to traditional hotels and or car rental services in the next year.
Second, the internet and family, friends and colleagues are the most important sources of inspiration for personal travel, with 76% and 75% respectively rating them as extremely or very important. At the same time, however, only 27% of this same affluent traveler group have posted a review of the places they have been.
Affluent travelers with luxury second homes can satisfy their interest in peer to peer sharing, stay at luxury residences around the world, and save thousands of dollars per trip, plus view unedited testimonials from other affluent travelers at 3rdhome.com.
Steve Zacks, 3RD HOME
If you thought airline fees were a nuisance, think again.
A recent USA TODAY article outlined the top five trends to watch out for in travel this year. It got me thinking about all those extra fees we now accept so openly when we fly—baggage fees, reservation changes, even the food.
Reports from that article indicate that airlines collected more than $900 million in baggage fees in the third quarter of 2012. They made another $600 million straight from fees to reservation changes.
Now, it is forecasted that hotels plan on following a similar pattern. We should expect hotels and other service industries like rental car companies and even cruise agencies to adopt “airline strategies” that will end up costing travelers more money. Plan ahead when you book your next vacation because some hotels have guests pay extra for re-stocking mini-bars, luggage storage, and room safes. If you think about it this starts to add up.
Home exchange programs save vacationers as much as several thousand dollars per trip. 3RD HOME, has saved its members more than $10 million in rental fees in just the past 2 years alone. There are no hidden or add-on fees. And nominal fees overall.
With 1325 properties in 67 countries with an average value of over $2.25 million, 3RD HOME properties are some of the most beautiful in the world rivaling any travel alternative for luxury second homeowners. You can learn more by visiting 3RD HOME.
Steve Zacks, CMO, 3RD HOME