News
Noted Hotelier Launches LaTour Signature Group
Business venture with ResortCom Elite will transform luxury resort vacation experience at fractional ownership properties
SAN FRANCISCO (March 5, 2007) -- After more than two decades of creating award-winning hotels and chef-driven restaurants for hospitality-leader Kimpton Hotels, Tom LaTour now plans to put his signature touch on the booming real estate market of small, elite fractional ownership resort properties.
LaTour, former chairman and CEO of Kimpton Hotel & Restaurants, announced today that he’s launching a new joint-venture business with ResortCom Elite, the luxury division of ResortCom International, that will transform luxury resort vacation experiences at fractional ownership properties throughout North America.
Much like he did with boutique properties around the U.S. and Canada, LaTour wants to revolutionize the burgeoning vacation home ownership industry by serving up an exceptional five-star vacation resort “lifestyle” experience to the developers and owners of new and existing properties in popular and emerging ski, golf, oceanfront and urban locations.
Two years ago while vacationing in Punta Mita, Mexico, LaTour had an epiphany that stirred his creative juices and jolted him out of semi-retirement. “I saw the beginnings of this smaller, more exclusive shared-ownership vacation travel category forming, and was intrigued at the possibility of influencing its evolution.”
With his past experiences and forward vision, the renowned executive wants to deliver on a brand promise that fractional buyers will get much more than just part-time accommodations. “At a LaTour Signature property, they’ll be getting an ownership lifestyle that includes superior service, luxury resort activities and amenities, monumental memories and long-lasting relationships.”
According to the veteran hotelier, LaTour Signature Group will achieve this by managing all aspects of fractional interest resort properties’ development and operations – from conceptual design to handling reservations, sales and marketing, and hiring, training and supervising staff.
“We intend to become the ultimate brand for smaller fractional properties,” says LaTour, who has the proven experience and burning passion to lead the explosive growth in this niche market.
Ragatz Associates is the industry’s preeminent consultancy company to the market and hosts an annual fractional interest symposium. Ragatz estimates that the fastest growing segment is the upper-tier, higher-priced fractional interest projects, that La Tour Signature Group will be targeting.
Under his business genius, his hand-picked executive group will focus on providing personalized vacation experiences and life-enhancing memories for owners at the highest end luxury properties with 100 units or less.
Similar to the distinctive upscale experiences he created for leisure guests at the 39 Kimpton hotels and restaurants throughout the U.S. and Canada, LaTour says initially he’ll work with the developers and ultimately, with owners of exclusive properties to provide such LaTour Signature Group “touch points” as hand-picked and exceptionally trained staff, personalized services and world-class amenities.
According to LaTour, the group expects to take on two fractional resort developments this year and then continue at that pace through the end of the decade.
In addition to LaTour, the ResortCom Elite principals involved in the new business endeavor include John E. Small, who has more than 27 years in the hospitality industry including key management positions at some of the world’s leading properties, and Jeff Healy, who brings extensive financial experience in the fractional, resort and timeshare industry. Small and LaTour were colleagues when they were Vice Presidents at Amfac Hotels in San Francisco in (year); they have remained friends since.
“This is an exciting time for us to be in this rapidly expanding fractional ownership resort industry,” Small says, explaining that his joint-venture partnership will offer the best of LaTour Signature touches upfront with ResortCom Elite providing the necessary behind-the-scenes infrastructure to support the top-notch resort services to developers and owner guests.
“This buyer generally has a very high income level, more discretionary income, more discriminating tastes and exceptional expectations,” says LaTour. “La Tour Signature Group will provide the ultimate vacation product that vastly exceeds anything now available.”
For more information about LaTour Signature Group, visit www.latoursignaturegroup.com or call (415) 568-2210.
About Thomas W. LaTour
The former Chairman and Chief Executive Officer of the Kimpton Hotel and Restaurant Group has more than 40 years of experience in the travel and hospitality industry. A graduate of Michigan State University, he worked for Amfac Hotels and American Airlines before joining Kimpton in 1983. After a 23-year career at Kimpton, during which his dedication and visionary leadership established it as the leader in the boutique/lifestyle hotel segment, he retired in 2006 and most recently launched LaTour Signature Group.
In addition to heading this new business venture, he remains on the board of directors for Kimpton, and along with his wife Barbara, owns and operates the 25-acre LaTour Vineyards in Napa Valley, producing barrel fermented Chardonnay and a luscious Syrah (www.latourvineyards.com).
About ResortCom Elite
Based in San Diego, ResortCom Elite, through its parent company, ResortCom International, provides financial services, club management and operational oversight to the vacation ownership and resort industry. Under the direction of Chairman John Small and President Jeff Healy, the company’s 600 employees in offices in California and Florida, provide exceptional services to over 50 clients worldwide and more than 200,000 satisfied owners at resorts in the Caribbean, Hawaii, Mexico and Park City, Utah.
