Luxury clubs Quintess, Dream Catcher Retreats merge

BOULDER ? A pair of Colorado-based luxury destination clubs, Quintess and Dream Catcher Retreats, have merged to create Quintess, Catch the Dream.

The combined company has 230 members who can access 38 homes in 24 destinations and one yacht, The Essence.

At the time of the merger each company was valued at $31 million.

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?This was a merger of equals,? said Pete Estler, chief executive of Boulder-based Quintess, who founded the company along with Leon Allsup and Ben Addoms.

Estler said the two companies share core values centered on a commitment to delight members and focus on luxurious, private freestanding homes.

Estler will be CEO of the new company, and Greenwood Village-based Dream Catcher CEO Scott Anderson will serve as vice chairman. Bruce Barnet will serve as the chairman of the board. The new company will have 53 employees, Estler said.

Quintess will close its office on Pearl Street in Boulder, and Dream Catcher will close its office in Greenwood Village in 60 to 90 days when a new headquarters is secured. Estler is looking for a location along U.S. 36 between Denver and Boulder.

?We wanted a more central location to serve people in Boulder and Denver,? he said.

The clubs raised $2 million of new investment capital Sept. 1, the day the deal closed. Estler said that was the first $2 million of $10 million in investment capital the company is attempting to raise.

The consolidation of the two companies yields a combined real estate portfolio, including properties under development, with an estimated fair market value of $110 million. Estler said the company always is looking to add to its portfolio, and it currently is looking closely at property in the Bahamas and London, he said.

?This is a classic merger, by combining both clubs, we are leveraging our collective strengths in luxury hospitality, superb resort real estate and marketing to create the premier luxury destination club,? Anderson said.