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Affordable luxury resort residences for the Baby Boomers

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dc.contributor.advisor John Kennedy. en_US Boyer, Mark Valdez en_US
dc.contributor.other Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. en_US 2006-06-20T12:54:55Z 2006-06-20T12:54:55Z 2005 en_US 2005 en_US
dc.description Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2005. en_US
dc.description This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. en_US
dc.description Includes bibliographical references. en_US
dc.description.abstract The purpose of this thesis is to determine the business viability of Oasis Destination Club, the first destination club designed entirely for the upper middle income baby boomer. The baby boomer generation is the largest demographic group in the United States, numbering 78 million individuals, between the ages of 41 and 59. As this demographic group ages and nears retirement they are seeking out ways to spend their vacation time. Many are considering vacation housing products; however, there are several key issues surrounding vacation home ownership that are not addressed by the current vacation housing products. These key issues include: 1) overall cost, 2) lack of variety in destinations, 3) illiquidity of investment, 4) inflexible use models, and 5) lack of services. To address these key issues destination clubs were developed. Club members are granted use rights in a portfolio of residences located in different destinations around the world. Each residence is large enough to accommodate a family or group and services are on a par with a well run hotel. In recent years destination clubs have experienced very strong growth in the upper income or high net worth market. en_US
dc.description.abstract (cont.) Oasis Destination Club plans to be the first destination to target the upper middle income market, while also addressing the five key issues of vacation home ownership, thereby, becoming the premier brand name in the upper middle income market. In simple comparison terms Oasis Destination Club plans to become the Marriot in an industry where only the Ritz Carlton and Four Seasons exist. The market study indicated that an Oasis Destination Club has a potential market size between 35,000 and 70,000 households. This market has a price point of $75,000 with annual dues between $15,000 and $8,500. For these fees Oasis Destination Club plans to provide use rights in a portfolio of $1,000,000 residences around the world, which are large enough to accommodate family and group vacationing. Consistent service that removes the hassle and worry from second home ownership or villa/hotel rental would also be provided. Financial projections for Oasis Destination Club indicate that the business would break even in the second year and would require $1.7 million of start up funding at the company level with an additional $2 million in TIC 1031 backed funding to purchase the initial property portfolio. en_US
dc.description.statementofresponsibility by Mark Valdez Boyer. en_US
dc.format.extent 129 leaves en_US
dc.format.extent 581596 bytes
dc.format.extent 581400 bytes
dc.format.mimetype application/pdf
dc.format.mimetype application/pdf
dc.language.iso eng en_US
dc.publisher Massachusetts Institute of Technology en_US
dc.rights M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. en_US
dc.subject Urban Studies and Planning. en_US
dc.title Affordable luxury resort residences for the Baby Boomers en_US
dc.type Thesis en_US S.M. en_US
dc.contributor.department Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. en_US
dc.identifier.oclc 65470869 en_US

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