Luxury Institute Survey: High Net-Worth Consumers Rank St. Regis Grand Residence Club and The Ritz-Carlton Club the Most Prestigious Fractional Clubs
NEW YORK, NY–(Marketwire – February 5, 2008) – High net-worth consumers rated St. Regis Grand Residence Club the most prestigious fractional club in the 2008 Luxury Brand Status Index (LBSI) survey from the independent New York-based Luxury Institute. The Ritz-Carlton Club finished a close second with the highest score for quality and tied for exclusivity, as well as receiving the highest score for willingness to recommend.
Respondents cited St. Regis Grand Club for “their great service and nice amenities,” “excellent quality” and for being “very upscale.”
“This is the first time that we have rated Private Residence Clubs, known as Luxury Fractional Clubs. We rated only hotel brands with multiple fractional destinations to see how they compare with their competitors,” said Milton Pedraza, CEO of the Luxury Institute. “Our impartial surveys are conducted with independent panels weighted to reflect national results, and the results are tabulated by external analytical experts to ensure objectivity. In a transparent world, where consumers define your brand, and you are simply a steward, these surveys provide quantitative metrics, as well as extensive consumer comments, as to why they will, or will not, recommend each brand.”
Following are the five fractional clubs that were rated (alphabetical order): Fairmont Heritage Place, Four Seasons Residence Club, Marriott Grand Residence Club, St. Regis Grand Residence Club, The Ritz-Carlton Club.
The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 513 wealthy American consumers, with an average income of $789K and average net worth of $15.1 million, was surveyed online. Survey results are weighted to match demographic and net worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.
About the Luxury Institute
The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world’s first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.LuxuryInstitute.com.