Portofino

Launched in 2003, the Portofino Club managed to attract over 100 members during the course of their time in operation, but ultimately ran low on cash, and like other undercapitalized destination clubs, declared bankruptcy in 2008. The firm listed no assets in the bankruptcy filing, and seemed to be running a leasing-style destination club where members paid higher dues to offset the higher leasing expenses of the club residences.

One Key World operated successfully under this model for quite some time, but Portofino was sued by several investors who were told that their investments would be used to acquire real estate for the club.

For more information about Portofino or any other destination club, please contact The Veras Group.

Portofino News Articles