Here you'll find answers to many of the most frequently asked questions about The Reefs Club and private residence clubs.

What is The Reefs Club?

The Reefs Club is a private, member-owned, private residence club comprising elegant two- and three-bedroom residences in the heart of Southampton, Bermuda. The Reefs Club has an enviable oceanfront location and offers owners a wide variety of amenities and services, provides worry-free ownership to ensure hassle-free vacations.

If I purchase at The Reefs Club, do I own real estate?

Yes. Ownership is evidenced by a real estate deed. Each Club Owner is conveyed a 1/10th undivided, deeded interest in one of the Club's fully furnished residences, and has flexible access to all residences within their residence category (two- or three-bedroom). Like other real estate, ownership may be sold, willed or transferred at any time.

How many ownerships will be sold?

The Reefs Club will offer only ten ownerships for each Club residence. There will be a total of 19 residences, allowing for 190 owners.

What are the advantages of private residence club ownership?

Residence club ownership is designed to provide owners with generous and flexible vacation use and remove the worries typically associated with foreign- home ownership. Residence clubs also significantly reduce the financial burden through shared ownership.

Have private residence clubs been developed at other prestigious resorts?

Yes. Since the early 1990's this ownership concept has been enthusiastically embraced by affluent buyers at premier resorts such as Aspen, Vail, Telluride, and Steamboat Springs, Colorado; Deer Valley, Utah; Napa Valley and Lake Tahoe, California; and Cabo San Lucas, Mexico.

There is also a luxurious equity residence club in Manhattan. Each of these residence clubs is owned and operated much like The Reefs Club. Similar residence clubs are in development in a variety of other prestigious beach, golf, mountain and urban destinations.

As an owner, how often may I vacation at my Club?

As often as you wish, subject only to the Club's innovative Reservation Privileges and Bermuda Government policy. As a Club Owner, you have the flexibility of reserving vacations five different ways - well in advance and on a space-available or short-notice basis. Additionally, owners may exchange vacations among themselves and consider other destinations through the Club's participation in The Elite Alliance exchange. If some owners visit their Club less often, other owners can visit more. You pay only the published housekeeping fees anytime you vacation at your Club.

Is The Reefs Club a typical timeshare development?

No. The Club offers real estate ownership and is enjoyed much like a private equity golf country club. Timesharing typically provides "points" or the right to use only a specific week and lodging is limited to a specific unit. Club owners have access to all Club residences of their ownership category (two- or three-bedroom) with flexible usage, subject to the reservations procedures and availability.

How to owners reserve Club lodging?

The Reefs Club Reservation Privileges allow owners to reserve visits well in advance, while also accommodating space-available and short-notice vacations.

What if the number of owners wishing to stay exceeds the number of residences available?

The Club is designed to equitably allocate peak-period planned and space-available vacations when demand for lodging may exceed supply. A Rotating Priority System ensures all owners will have equal access to the peak-period vacations over the years. This system has proved fair and equitable for over 15 years.

Will Club Owners always stay in the same residence?

No. To provide greater flexibility and availability, owners have equal access to all Club residences of their residence category. Special requests will be granted when possible.

Can Club Owners reserve more than one residence during the same time period?

Yes. Because Club Owners are not restricted to a particular residence, they can reserve more than one residence at any given time, if sufficient residences are available.

Do Club Owners have guest privileges?

Yes. Owners may invite guests to stay with them during their vacations and they may also invite unaccompanied guests to use any of their confirmed Planned Vacations without a guest fee.

What is the quality of construction, furniture and accessories at The Reefs Club?

Construction will be of the highest quality and is comparable to other luxury Bermuda vacation residences. Vision Design of Dallas, Texas, will ensure that each room is fully furnished and sophisticated.

Do owners pay annual fees?

Yes. Club Owners pay annual fees for the professional management, operation and maintenance of all Club residence and facilities. These fees are significantly lower and are more comprehensive than those of a wholly-owned vacation home. Included in these annual fees are funds for property taxes, insurance, utilities, administrative salaries, supplies, maintenance, trash removal, legal/accounting, transportation, and reserves for the replacement and/or refurbishing of Club facilities. Please call 1-866-399-9568 to request a Financial Information sheet for current estimated annual fees.

Who establishes the dues and controls the affairs of the Club?

An owner-elected Board of Directors will establish budges and fees on an annual basis when the owners take control of the Club as prescribed by Club documents.

Will The Reefs Club be open to the public?

When fully subscribed, the Club will be operated for the exclusive use and benefit of the owners and their guests. Prior to full subscription, limited public use will be permitted for marketing purposes. This type of use will not diminish availability for owners.

Do owners pay any lodging charges when they stay at their Club?

No. Owners do not pay for use of the Club residences. You only pay for housekeeping while in residence and any additional requested services, like room services or spa treatments.

If I purchase, when will I begin enjoying vacations at The Reefs Club?

The Reefs Club is scheduled for occupancy in the spring of 2009.

What if I have more questions?

If you have any additional questions about owning at The Reefs Club you may contact Chrissy Frith or Cheryl Trott toll-free 1-866-399-9568 or in Bermuda at 441-239-0190. We would be happy to set up a conference call so both you and your spouse can participate. You may also email questions to Chrissy or Cheryl through the Contact Us Page.

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