These two luxury travel and property companies have formed a partnership so that their respective members can use each others luxury vacation homes.

The FOLIO Collection includes the Isle de France Club, a private beachfront enclave on Flamands Bay on St. Barth, with an award winning restaurant and a Molton Brown Spa. The new resort at Pond Bay, St. John, U.S.V.I, opens its doors in 2009 and will have 50 luxurious villas and cottages spread across 15 acres on a secluded bay.

Ultimate Escapes is one of the worlds largest destination clubs, with three levels of homes around the world. Under this partnership, FOLIO owners can now enjoy vacations at 21Ultimate Escapes worldwide destinations, including skiing in Deer Valley, Utah, boutique shopping in Paris, exploring wine country in Tuscany, golfing in Scottsdale, or surfing in Maui.

Bob Emmett, Co-founder and Managing Director, FOLIO Collection said, “This is a wonderful opportunity for both of our brands. To be able to provide added value to our much valued FOLIO owners by creating access to Ultimate Escape’s global portfolio of properties is the best of both worlds.”

“Ultimate Escapes continues to foster creative alliances with luxury resort developers such as FOLIO, to bring increased value to our members and an exciting enhancement to vacation home real estate ownership. Both St. Barth and St. John, known for their tranquil beauty and their secluded locations, are highly sought after destinations for our members and the Isle de France and Pond Bay resorts are second to none,” said Jim Tousignant, President and CEO of Ultimate Escapes. “Our brands complement each other in ways that present growth opportunities for both companies among discerning global travelers.”

I spoke to Bill Orwig, the Director of Sales at Pond Bay. Bill explained that Pond Bay owners have four pre-planned weeks each year, and can take some of this and put it into the reciprocity program to be treated as an Ultimate Escapes members. While the owners may love their home in St John, many will still want to travel to other places and in Bills words “this agreement adds huge value to an ownership at Pond Bay.” The only cost to owners is a small transaction fee of a few hundred dollars for any reciprocity trip they take.

Ultimate Escapes announced a similar reciprocity partnership with Capella Pedregal just a few weeks ago. The FOLIO Collection also has other reciprocity and exchange agreements in the works. Overall these work well for all sides, providing more luxury travel destinations to each of the respective members.