PICKENS, SC -- Drawing on his extensive experience in luxury resort real estate, Eric Pierce today announced the formation of Pierce Group, LLC, a new firm specializing in the design, sales and marketing of Private Residence Clubs and fractional ownership developments.
Pierce Group was recently engaged by West Paces Hotel Group, which operates the ultra-luxury Capella and Solis brands, and has provided services for club program, design, sales and marketing at multiple planned properties. The Atlanta-based hotel group was founded by former Ritz-Carlton CEO Horst Schulze.
"In today's second-home market, creating sales is the only true measure of success," said Pierce, a former senior vice president for DCP International, a global leader in the Private Resident Club segment. "We provide developers with a better, more saleable product and the expertise to market their new products and unsold inventory."
As one of the few growth sectors in today's North American real estate market, luxury second home properties are becoming a mainstream product for those who want to own valuable real estate in resort destinations, said Pierce.
According to the "2008 Annual Fractional Interest Report" by NorthCourse® Leisure Real Estate Solutions, in the U.S., Canada and the Caribbean, high-end luxury fractional real estate sales surpassed $1.9 billion in 2007, up 18 percent from 2006.
"This unique real estate niche can be extremely advantageous to the developer," said Pierce. "Fractional ownership properties are highly attractive to buyers in a down market because of their lower costs. However, developers must create the right product in the right location in order to achieve their sales objectives."
Pierce added that the firm's philosophy of "focus and adapt" emphasizes the unique location, economic climate, seasonality and demand in second-home markets - factors that must be considered when designing and marketing successful product.
To assist developers, Pierce Group utilizes its founder's experience in sales, marketing and operational programs, along with strategic alliances with high-end U.S. and international real estate marketing companies. "We put particular emphasis on owner referral programs," added Pierce. "For example, our firm offers Pierce Group Quality Assurance to increase referral percentages by ensuring those extremely important early owner experiences are perfect."
Prior to launching his new firm, Pierce was responsible for all aspects of Private Residence Club development for DCP International. Working side by side with developers, he focused on club design, budgeting, pricing, sales, marketing, hospitality management and legal registration. Pierce also has an in-depth knowledge of the Destination Club industry. He helped Exclusive Resorts, LLC grow from a small start-up company to an industry leader in this sector. He also served as real estate director for The Leading Residences of the World before its merger with Quintess. Pierce is a member of the Urban Land Institute.
"There are many square pegs and round holes in the fractional real estate business," Pierce said. "Without the expertise to recognize them, a great potential can be squandered on the wrong fit. Many enthusiastic developers have paid dearly for their marketing and sales missteps."
Pierce Group offers free introductory project assessments, and a special, limited-time offer to conduct a comprehensive feasibility study for developers at a discounted price. For more information, contact Pierce at 864.878.6622 or visit www.PierceGroupConsulting.com.
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