Resort Residences

Resort Residences

The new brand brings top locations, upscale design and a luxury lifestyle to the Asia Pacific region with a “best of all worlds” product

The Resort Residences Collection will feature properties within established luxury lifestyle destinations in Australia and Asia where there is a high barrier to entry because of supply and price constraints and areas that have high tourist visitor numbers and are within easy access of major metropolitan populations. Properties will feature exceptional quality and design standards associated with bespoke luxury properties. Design will be timeless and timely and showcase sustainability and technological benchmarks.

“The Asia Pacific region has an outstanding selection of destinations and lifestyle experiences,” says Founder and Managing Director Jeremy De Zylva. “Many individual houses and apartments in established holiday destinations have co-ownership potential, and the Resort Residences Group is actively sourcing recently completed resort developments and individual holiday houses and apartments in leading Australian holiday destinations such as Noosa Heads, Byron Bay, Port Douglas and Hamilton Island. Overseas expansion plans will also target Queenstown in New Zealand, Bali and Phuket.”

Melbourne-based Resort Residences Group will target properties within established integrated branded resorts that offer a range of resort facilities and hotels services, and where properties cannot be sourced within an established resort, the focus will be on properties within an established holiday destination that has extensive external amenities and experienced service providers.

Resort Residences Group is keen to talk to developers and owners of luxury property who may be interested in co-ownership and opportunities to work together. The company plans to market and manage the Resort Residences Collection, a portfolio of luxury co-owned resort real estate in Australia, New Zealand, South East Asia and the Pacific located in premier island, beach, ski, golf and country destinations. The properties will be marketed and sold as shares in a co-ownership scheme registered with the Australian Securities & Investments Commission as a Managed Investment Scheme, giving each purchaser a freehold title which is held as tenants-in-common. [member]

In adapting the co-ownership concept for the local market, Resort Residences Group decided to position the product as close to single ownership as possible. This means that they intend to sell shares in individual properties, which will typically be sold down in 4 to 8 shares giving each co-owner between six to 12 weeks of exclusive use per year. Owners will also enjoy exchange privileges and a range of lifestyle experiences and benefits.

The company believes the co-ownership model will provide them with a competitive advantage in the marketplace in the following ways:

• Ownership Structure – Resort Residences Group is selling real estate. Their buyers are buying real estate, not a membership or a share in a company. They receive a freehold title held as tenants-in-common.

• Risk Profile – Resort Residences Group is selling a share in a single property asset. As buyers are buying a share in a single asset, their investment is not subject to company failure or multiple-asset risk.

• Exit Strategy – Resort Residences Group is able to give buyers a clear exit strategy and a capital return feature that is transparent and deliverable.

• Marketability – Resort Residences Group will be operating in a new market and, therefore, expect that positioning their product as closely as possible to single ownership will contribute to sales success with early adopters.

This hybrid business model combines the best attributes of current shared-ownership products, including the multiple property/multiple location attributes of a destination club, the legal title structure of a fractional and the services of a private residence club. Whereas, shared ownership in general already presents the “best of both worlds” in regards to hassle-free holidaying, the Resort Residences product offers the “best of all worlds,” so to speak.

“There have already been several high profile business failures in the destination club space and we anticipate further challenges to several widely held operating assumptions of the different business models,” says De Zylva. “It is partly with this in mind that the hybrid business model has been adopted by Resort Residences Group.”

De Zylva goes on to say that “not all shared ownership schemes are created equal. We believe the business model adopted by Resort Residences Group will give it a competitive edge in the marketplace because it will operate as close as possible to the single-ownership market and as far away as possible from the timeshare and destination club models.”

The Value Proposition
The problem with owning a holiday home, De Zylva says, is that the average holiday home owner in Australia only uses their property for 6 to 8 weeks per year yet carries 100% of the burden of maintenance and holding costs. He says the solution is co-ownership, which allows the owners to match their level of ownership with their usage and to purchase higher quality real estate. “Co-ownership is a rational alternative way to own and enjoy a holiday home,” states De Zylva.

The target customers for the co-ownership that Resort Residences Group offers will be underpinned primarily by two groups: 50- to 60-year-old Baby Boomers and 35- to 50-year-old aspirational Gen X’ers. De Zylva says the Resort Residences product will have global appeal and in particular demand can be expected to come from major Asian countries such as Singapore, Hong Kong and Japan where there is an established track record of investment in Australian property, as well as the ever growing Australian expatriate market.

Part of the appeal will be because of a solid package of benefits and services to complement the resort product, including various exchange options, concierge services, and rental and resales programs. Resort Residences will look to establish an affiliation with external exchange companies such as The Registry Collection (, particularly in the initial years of operation. The Resort Residences Collection will also have an internal exchange program whereby owners of Resort Residences shares will be able to exchange weeks within the portfolio, and Resort Residences Group will also target business-to-business exchange programs, such as the Banyan Tree Collection, Hideaways Club, and Exclusive Resorts.

One of the distinguishing features of successful high-end co-ownership schemes and businesses are the value-add services such as concierge services and travel planners. Resort Residences Group will through a combination of internal head office and appointed external contractors, provide concierge services to its co-owners. The suite of services will be administered on a userpays philosophy so that fixed annual owner fees are kept as low as possible.

Resort Residences Group will develop and implement a rental program to assist owners with renting out unused annual week entitlements. This is considered to be an important element to the investment decision making process of buyers, particularly those in the 35-49 age bracket. The company also will develop and implement a resales strategy which will be established upfront to give certainty to prospective owners in relation to available exit strategies.

Resort Residences at Byron Bay
Resort Residences Group is proud to unveil its first co-ownership opportunity in Australia, Resort Residences at Byron Bay. Located within the beachfront Kiah Beach Houses resort, Beach House 11 is a 3 bedroom, two-level, fully furnished residence featuring private outdoor entertaining space and elevated views to the beach.

Resort Residences Group is in ongoing discussions with several developers of resort properties in Australia as well as individual property owners, and expects to make an announcement on several further deals in the next two to three months. These deals will be structured as marketing & management agreements and joint ventures with the property owners.

“Overall, our vision for Resort Residences Group is to become Australia’s leading investment manager and marketer of luxury co-owned resort real estate built on a foundation of core values of integrity, teamwork, creativity and excellence,” says De Zylva. “We are convinced that co-ownership is a rational, alternative way to own and enjoy resort real estate which significantly reduces the capital expense of purchasing a holiday home and eliminates the maintenance hassles, making the investment a compelling value proposition. In the current market, it also provides a mechanism to grow the target market of a resort project by reducing the sales price point and importantly matching a purchaser’s spend with their level of usage.”

For further details please contact Jeremy De Zylva, managing director, on +61 408 375004 or, or visit

Resort Residences Group – Background and Capability
Resort Residences Group Managing Director Jeremy De Zylva was first introduced to the co-ownership concept in 2004 when he was Victorian State Manager of Medallist Developments, a joint venture between Macquarie Bank and Greg Norman, which specialised in residential golf resorts and master planned communities. Over the years since leaving Macquarie, De Zylva completed his own residential development projects in Melbourne and South East Queensland, and in 2009 founded Resort Residences Group.

“Over the past two years we have undertaken detailed research in the U.S where co-ownership is an established concept and the market is proven,” De Zylva notes. “We have analysed the business model options including destination clubs (company equity share and membership), fractionals and private residence clubs (freehold title/tenants-in-common) in terms of ownership structure, risk profile, exit strategy and marketability. We have also obtained detailed legal advice from industry specialists Baker & McKenzie, on the regulatory framework in Australia for managing and selling co-ownership property.”

Resort Residences Group recently completed strategic planning and the company now has an articulated strategy for an innovative business coupled with a highly skilled and motivated management team experienced in leisure real estate, development, finance, property acquisition and marketing & sales. In addition to De Zylva, the team includes:

• Frazer East, real estate director – East holds a bachelor’s of business (property economics) and has more than 10 years of property experience ranging from valuation and development management through to marketing and sales, working for companies such as CRI Australia, Prudentia and Preston Rowe Paterson. He is also licensed agent in Victoria and Queensland.

• Todd Solomon, finance director – Solomon has more than 16 years of experience in the property and investment banking sectors, having worked with employers such as Salomon Brothers, Macquarie Bank, Becton and Valad. He has worked on funding major projects and as development manager of large-scale residential developments in Sydney and Melbourne.

The management team is backed by an advisory board and a team of leading industry consultants in Australia and the U.S. [/member]

More in Articles

Hotel Resorts: The Health Revolution

Christine OkoyeJanuary 1, 2016

The Heart Of The Matter

Christine OkoyeNovember 1, 2015

Shared Ownership In Cuba, The Next Frontier

Christine OkoyeNovember 1, 2015

How Tourism In Mexico Is Providing Social Change

Christine OkoyeOctober 28, 2015

Travel Trends: Canada

Christine OkoyeAugust 1, 2015

A Wave of New Resorts for Unlimited Vacation Club Members

Christine OkoyeJuly 6, 2015

Travel Trends: Mexico

Christine OkoyeJuly 1, 2015

Sky’s the Limit for Emirates Vacation Club

Christine OkoyeJune 7, 2015

Vacations For A Cause

Christine OkoyeJune 2, 2015

Breckenridge Grand Vacations: Providing Dream Vacations and Dream Career Opportunities

Christine OkoyeApril 8, 2015

Breckenridge Grand Vacations: Providing Dream Vacations and Dream Career Opportunities

Christine OkoyeMarch 15, 2015

Major Revamp For Accor Mercure Gold Coast

Christine OkoyeJanuary 29, 2015

Copyright © 2014 Perspective Group