Quintess, a Boulder-based luxury destination club, on Thursday announced its second major merger in four months – a partnership with The Leading Hotels of the World Ltd.
Quintess will add $24 million worth of resort properties to its portfolio, bringing it to 49 homes, each worth $4 million on average.
It also will gain roughly 40 members from Leading Hotels’ destination club, the Leading Residences. The deal, expected to close by the end of the month, will propel Quintess to nearly 300 members.
“It was very important to us to have a long-term strategic partnership with a hospitality company,” said Ben Addoms, Quintess executive vice president and managing member. “It builds a tremendous marketing alliance for us in terms of enhancing our brand recognition.”
The new entity will be called Quintess, The Leading Residences of the World.
In September, Quintess announced a $62 million merger with Greenwood Village-based Dream Catcher Retreats. Through the two mergers, the destination club has more than tripled its membership this year.
New York-based Leading Hotels is a luxury hospitality marketing organization that has 440 member hotels, resorts and spas worldwide, including the Hotel Jerome in Aspen and the Sonnenalp Resort in Vail.
The partnership also will give Quintess the exclusive right to develop residential properties at Leading Hotels resorts.
“I think it’s a perfect marriage,” local hotel consultant John Montgomery said. “Each brings something different to the table, but they have similar goals.”
Quintess membership plans start with a one-time deposit of at least $190,000, plus annual dues of $16,000 and up. The company plans to relocate its headquarters to Broomfield in February.
Staff writer Julie Dunn can be reached at 303-954-1592 or jdunn@denverpost.com.