Ragatz Associates, the leading feasibility study and market research company in the resort real estate industry since 1974, has conducted an international survey in order to quantify the potential demand for Chelsea Bank's revolutionary new product. Chelsea Bank, the world's first travel bank, is soon to introduce its ground-breaking Certificate of Deposit which offers depositors the dual benefit of receiving a competitive annual interest rate and free luxury property use of the Bank's portfolio of breathtaking luxury villas and city penthouses. Chelsea Bank has brought together a team of leading international experts in the fields of banking and finance, short term rentals, luxury realty and luxury travel services, in order to be at the forefront of the industries it is looking to disrupt- conventional banking and luxury travel.
In order to qualify to take the survey, respondents were required to have a minimum annual household income of $300,000 and a minimum net worth (excluding their primary home) of $1 million. Ragatz Associates conducted 750 surveys in the United States, 250 in Canada, 250 in Germany and 250 in the United Kingdom. Thus, a total of 1,500 fully completed surveys were provided. Due to the extensive number of high income/wealth respondents, the relative consistency of the answers, and the extensive prior experience of Ragatz Associates in conducting comparable surveys, results are felt to be very reliable.
The consumer survey has shown "overwhelmingly positive results with a proportion of more than twice found in the 40 year experience of Ragatz Associates". This demonstrates a readiness and anticipation for the launch of the revolutionary product of Chelsea Bank. The survey created an extensive waiting list awaiting the product launch. Chelsea Bank will only accept accredited individuals as members after background checks and referrals, as it will be building a truly exclusive luxury portfolio of properties available to a select community of high acclaim.