Better Value For Destination Club Members

The 5,000 rich people who hold "destination club" memberships will be thrilled to hear they will soon have a bigger choice of destination vacation homes to visit. Two of the largest clubs -- Private Escapes, based in Colorado, and Ultimate Resorts, based in Florida, are merging. Together, they will create a company that becomes No. 2 in this field. The biggest is Esclusive Resorts, based in Denver, with 3,000 members. The combined new entity will have with $200 million in assets, 1,200 members and about 120 employees.