lusso collection

Lusso Collection In Bankruptcy

Just last August, my colleague Jared Paul Stern reported that the Lusso Collection, a luxury destination club, had assembled a portfolio of multi-million dollar residences and announced an exclusive new membership club to augment their existing offers. Now, the club is in financial trouble. The Lusso Collection filed for Chapter 11 bankruptcy protection last month, leaving many members and visitors wondering what this means for their vacations and their money. Members paid one-time, refundable enrollment fees of $325,000 to $445,000 and annual dues of $21,000 to $31,000 depending on the type of properties and amount of vacation time used.

The combination of the falling stock market and the depressed market led to both less membership sales and less value for Lusso's existing properties. Lusso has more than 150 members and homes in 16 locations around the world. It is currently reorganizing and members are still be able to book stays at the club properties. Lusso joins another luxury club Yellowstone, which filed Chapter 11 in November.

[via Minneapolis Star-Tribune]

Source

Tags: bankruptcy, chapter 11, Chapter11, lusso collection, LussoCollection

Lusso Collection Adds $5 Million Tuscan Villa

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Travel & Hotels

In August we reported that the Lusso Collection portfolio of multi-million dollar residences in the world's most desirable vacation spots was launching a new membership program. Now the company, whose properties - worth an average of $4 million each - are located in luxe spots such as Cabo San Lucas, Aspen, Miami, Hawaii and the Bahamas, has acquired a $5 million villa in Tuscany, its first European estate.

Located on the outskirts of picturesque Cortona, La Ripa (above) is a 500-year-old, 4,000-sq.-ft. fully-restored stone farmhouse with five bedroom suites, stone fireplaces, terracotta floors and brick archways. The estate's 27 landscaped acres include a privately situated swimming pool, lush gardens and olive and cypress groves. With 31 luxury properties in 17 destinations currently in its portfolio, the company plans to have 39 luxury residences in 21 destinations by year's end, with London and Paris coming next.

[via Affluent Page]

Tags: Italy, Lusso Collection, LussoCollection, Tuscany

Lusso Debuts New Multi-Million Dollar Residence Club

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Travel & Hotels

The Lusso Collection portfolio of multi-million dollar residences in the world's most desirable vacation spots has just announced an exclusive new membership club. The 30 properties in the Collection, worth an average of $4 million each, are located in luxe spots such as Cabo San Lucas, Aspen, Miami, Hawaii and the Bahamas (the Turks & Caicos property is pictured above). Each features an on-site concierge, pre-arrival grocery shopping and a chauffer service from the nearest airport. The new offering enables members to experience the properties for 21 days out of the year for a deposit of $325,000 and annual dues of $21,000. Only 50 of the Lusso 21 memberships are available. By year's end the company plans to expand its portfolio to 39 properties in 21 destinations, including Europe.

Gallery: The Lusso Collection