With the US dollar having strengthened recently, the Canadian and European based destination clubs are much better value. Over the last couple of years the dollar has gained 20% to 30% in value against the Euro and the Canadian dollar, making these clubs that much cheaper in US dollar terms.

For instance back in 2011 and 2012 the Canadian dollar was at parity with the US dollar. The B shares in M Private Residences give members 21 days of access to the clubs homes, and are priced at C$147,500. At the current exchange rate of 1.31C$ to 1 US$, you only need about US$112,000 to buy a share. In other words the price is $35,000 less than it was in 2012. And the annual dues for these 21 night B shares are under US$10,000.

"We have several US members already" said John Beckel, General Manager at M Private, "they are generally in the South West including Texas, Nevada and California." Most of the homes that M Private owns in the USA are also in the Southern and Western states of California, Nevada and Arizona. Plus it also has homes in Hawaii and Cabo San Lucas, Mexico. So it makes sense that the US members are concentrated in those states where they only have to travel a short distance, and are potentially even just a car drive away.

The other advantage for US members is that some of their holiday patterns are out of sync with the main Canadian members. For instance Garry Leitch, VP Sales at M Private said that many of the Canadian members want to head South in the winter to escape the cold and enjoy some sun and warmth. So they head to the homes in California, Arizona and Cabo. The winter months are therefore some of the busiest travel times for the Canadian members.

The pricing advantage also works for Rocksure's Capital fund, which is buying apartments in 10 leading European cities. The fund is priced in Euros, with a full unit investment which provides 14-18 nights use each year, priced at Euro 125,000. The current exchange rate is 1 US$ equals Euro 0.91, but back in 2011 the rate briefly went below Euros 0.70. So today you would need about US$137,000 to buy a full share, but at those earlier exchange rates it would have cost over US$175,000.