Points Clubs
Karma Points are a unit of currency which helps purchasers buy stays at Karma resorts, estates and retreats worldwide. A Karma Group points member subscribes to a membership by purchasing a certain number of points specified in the Purchase Agreement, that entitles the member to the “right to use” the resorts (accommodation and facilities therein) forming part of the relevant Points Club (subject to the terms of the Club Rules). The agreement between Karma and the member includes the duration of stay each year or every alternate year, the number of nights dependent on the unit size, season and resort category chosen. The membership is valid for the number of years stated in the agreement and subject to payment of the applicable annual management charges and member fees.
Hutchinson safeguards the Karma Group members’ interests by legally ring fencing the units of accommodation at the resorts which guards against the possibility of any of the parties involved getting into financial difficulties, however unlikely that may seem. This ensures that the benefits of the rights of occupation are exclusively reserved for members, for the entire period of their membership.
The Deed of Trust between the Karma Group and Hutchinson Asia, along with the Club Rules, governs the role of the trustee. An example of one trust structure currently in place at Karma Group resorts in India sees the original title deeds of these resorts held under the control of Hutchinson Asia with the legal rights to such resorts documented in a Memorandum of Deposit of Title Deeds.
Karma Points are a unit of currency which helps purchasers buy stays at Karma resorts, estates and retreats worldwide. A Karma Group points member subscribes to a membership by purchasing a certain number of points specified in the Purchase Agreement, that entitles the member to the “right to use” the resorts (holiday accommodation and facilities therein) forming part of the relevant Points Club (subject to the terms of the Club Rules). The agreement between Karma and the member includes the duration of stay each year or every alternate year, the number of nights dependent on the unit size, season and resort category chosen. The membership is valid for the number of years stated in the agreement and subject to payment of the applicable annual management charges and member fees.
Hutchinson Asia safeguards the Karma Group members’ interests by legally ring fencing the units of holiday accommodation at the resorts which guards against the possibility of any of the parties involved getting into financial difficulties, however unlikely that may seem. This ensures that the benefits of the rights of occupation are exclusively reserved for members, for the entire period of their holiday membership.
The Deed of Trust between the Karma Group and Hutchinson Asia, along with the Club Rules, governs the role of the trustee. An example of one trust structure currently in place at Karma Group resorts in India sees the original title deeds of these resorts held under the control of Hutchinson Asia with the legal rights to such resorts documented in a Memorandum of Deposit of Title Deeds.
