Keith launches Lifestyle Asset Group

FORT COLLINS - The founder of a once-thriving luxury vacation club in Fort Collins that ultimately ended in bankruptcy is again taking the plunge into providing high-end vacation experiences. This time the business model focuses on members owning the assets.

Richard Keith, who eventually signed up 450 members of Private Escapes before the club merged with Florida-based Ultimate Resorts in 2007 to become Ultimate Escapes, has launched Lifestyle Asset Group.

Keith said the new company, located at 1200 S. College Ave., aims to avoid the pitfalls that eventually brought down Ultimate Escapes, mainly by replacing the club membership model with a member ownership model.

With Lifestyle Asset Group, Keith said, members are part of an LLC that buys and owns the vacation properties debt-free.

"Having a debt