DENVER, CO (May 22, 2012) –– Confirming its status as the fastest growing new entrant in the luxury hospitality space, PorticoTM by Exclusive Resorts® (www.porticoclub.com) has announced the appointment of former HomeAway executive Justin Halloran as Chief Executive Officer, a new website with direct booking capability, and the introduction of more than 10 new destinations in the past two weeks alone. These latest milestones cap an exceptionally strong pre-launch phase during which Portico welcomed more than 1,600 members, assembled a growing collection of more than 150 luxury vacation homes targeted across 50 of the world’s best destinations, and entered into a $16.5 million equity financing to accelerate its rapid expansion.
Mr. Halloran was formerly Vice President for Global Initiatives at vacation home giant HomeAway, where he launched HomeAway’s flagship global template website across 12 countries. He also served as Senior Vice President for Corporate Development at WhaleShark Media, and spent six years at eBay, where he spearheaded the expansion and growth of eBay’s $4 billion vehicles and parts business outside of North America.
“Since beginning our pre-launch phase just 90 days ago, we have established an entirely new way for consumers to enjoy luxury vacations, emphasizing variety, highly personalized service, and great value,” said Portico Chairman Philippe Bourguignon. “With Justin Halloran’s appointment as CEO, plus our new website and funding, we have now taken steps to scale our business even more quickly. In particular, Justin’s deep experience in the vacation space and expertise in driving bookings make him uniquely qualified to lead Portico to the next level.”
“I am excited to join Portico as it continues to build momentum, welcoming more and more luxury travelers as members,” commented Halloran. “By combining the best of vacation homes with the convenience and flexibility of world-class resorts, all at value you cannot obtain on your own, Portico represents the most compelling new offering within today’s luxury hospitality market. Better still, by leveraging the expertise of Exclusive Resorts, it provides a distinctive vacation experience no one else can match.”
To reach an even wider audience, Portico has unveiled a new website that encourages visitors to immerse within its wide variety of destinations around the world. The site makes it easy for members to search availability and book their vacations directly, complementing the expert guidance they receive from their personal “Escapist” service professionals. With gorgeous photography and a distinctive storytelling voice, the new site reflects the sense of discovery and imagination that makes Portico vacations so very unique. It also highlights the many new destinations Portico has introduced over the past two weeks, which include Provence, Paris, Newport Beach, New York, Croatia, Chicago, and more. Upcoming destinations include Viceroy Anguilla, Turks & Caicos and the Riviera Maya.
The company’s recent equity financing, which maintains Portico as a majority-owned subsidiary of Exclusive Resorts, was led by Revolution Places. The new funds will be used to add more vacation choices for Portico members, raise awareness of the new club’s unique offering, and continue the company’s rapid growth.
Portico is currently offering a limited number of Discovery memberships for a one-time initiation fee of $7,500, plus an annual membership fee of $2,500, which provides access to the club’s entire portfolio of luxury homes at irresistible, members-only nightly rates. For example, the following Portico vacations are available this summer at 30% to 50% below market price: a four-bedroom home in Vail, Colorado for as little as $395 per night; a four-bedroom villa with private pool in Los Cabos for as little as $595 per night; and a spacious three-bedroom residence overlooking the Pacific in Southern California for as little as $895 per night.
Portico members have the flexibility to travel as much or as little as they like, including prime holiday weeks, paying only for the nights they use. At the end of each membership year, they can renew by paying the annual membership fee, or walk away with no ongoing commitment. Every Portico vacation includes exceptional personal service from start to finish. Members enjoy comprehensive assistance from a team of Exclusive Resorts-trained staff, including expert Escapiststo provide travel recommendations and pre-trip planning, experienced onsite staff to handle all the details, and daily housekeeping, all at no additional cost.
Portico by Exclusive Resorts is a new private club that provides access to a growing portfolio ofmore than 150 luxury vacation homes targeted across more than 50 of the world’s best destinations, combined with personalized pre-trip planning and expert concierge service, all atmembers-only, below-market rates. Portico leverages the scale, long-term relationships, and operational experience of industry-leader Exclusive Resorts to bring proven expertise and reliable branded excellence to the $85 billion worldwide vacation rental market. For more information about Portico, visit www.porticoclub.com, call (866) 864-3518, and follow Portico on Facebook and Twitter. For more information about Exclusive Resorts, visit www.exclusiveresorts.com, call (866) 863-2688, and follow Exclusive Resorts on Facebook and Twitter.