Clubhouse: Pearl of the Continent
The Oyster Circle opens buying options for Europeans.
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ShareFebruary 1, 2008
From private resort communities to private residence clubs, options for vacation home ownership in Europe have not accelerated at the same rate as they have in the United States. And although many American-owned destination clubs now offer properties in Europe, they are not necessarily the kinds of properties that appeal to Europeans.When the five founders of Dublin’s Oyster Circle first began
researching the destination club industry, they discovered an opportunity to
create a club that would cater to how Europeans like to "holiday."
"There is definitely an appetite for destination clubs in
Europe, which until our company opened, was not being served," says Oyster
Circle’s chief executive, Paul Crowe. Since its inception in 2006, the club has
purchased 14 homes in places such as St. Tropez, Dubai and Spain to serve its 40
members. The club will top out at 400 members with 67 homes in 50 different
locations worldwide.
The Oyster Circle—which owns homes in South Africa and Portugal, places not normally sought out by American-owned destination clubs—carefully researched luxury travel trends to determine where its first locations should be. "We discovered that South Africa has become hugely popular as a winter sun destination for European travelers," says Crowe. Now that it is up and running, the company works closely with its current members to determine what other destinations should be added to the club’s portfolio. Homes in Marrakech, Aspen, Crete and the Swiss Alps are planned.
With more than $4 million allocated for each home, the Oyster
Circle has set strict standards for its properties. Villas and chalets must have
approximately 4,400 square feet of living space, mature gardens and a swimming
pool. City destinations must be in the 2,200-square-foot range. Up-to-date
technology, including flat-panel televisions and audio systems, and space for an
office with high-speed Internet access are also necessities. "We closely examine
the facilities and attractions within each destination, focusing on
available activities, cultural interests and local services such as
restaurants," says Crowe.
Oyster Circle’s homes are set up to operate like a five-star
hotel, without looking like one. Extras offered to members include daily
housekeeping, personal assistants, local concierge service, Egyptian cotton
linens and bath products from London fragrance house Jo Malone. "Our homes
reflect the destination in which they are sited," says Crowe. "We renovate every
one upon acquisition and use a different interior designer every time to avoid
repetition. This ensures that each home is unique."
The club offers three types of memberships. Individual
memberships require a €300,000 ($443,000) initiation fee and annual dues of
€20,000
($30,000) for 28 days or €24,000 ($35,400) for 35 days. A corporate membership requires
a €360,000
($532,000) initiation fee and annual dues of €28,800 ($42,500) for 35 days of use,
which grants rights to as many as five nominated people from a company or firm.
The Oyster Circle +353.1279.9525, www.theoystercircle.com
