In an unexpected move, J. Joe Ricketts (photo, right), founder of ultra-luxury club Ciel, has trumped Ultimate Resort’s $98 million offer for Tanner & Haley’s real estate assets with a $108 million cash bid.

Michael Corkery of The Wall Street Journal reports (sub req’d) Preeminent Global Experience LP, a firm led by billionaire Ricketts, submitted a counter-offer to buy the 60+ homes that Ultimate Resort founder Jim Tousignant expected to acquire in a deal announced last Wednesday.

Ultimate Resort:

• $98 million offer for 60+ homes
• Commits to short-term leases to offer travel through holidays
• 90-member destination club with 10 homes averaging $2 million in value
• Needs at least 400 Tanner & Haley members to join for deal to occur
• Plans to position new homes in an luxury-tier portfolio called Ultimate Resort Elite
• Founded by entrepreneur and multi-millionaire Jim Tousignant

Ciel / Preeminent Global Experience:

• $108 million offer for 60+ homes
• New ultra-luxury club launched in October
• Invitation-only destination club; recently initiated marketing efforts
• Intends to charge $17,500 annual dues to Tanner & Haley members
• Will use homes to launch a “mid-range complement” according to WSJ
• Headed by chairman of TD Ameritrade and billionaire J. Joe Ricketts

It’s mano-a-mano now as two successful entrepreneurs compete to secure the #2 position in the destination club industry by acquiring the assets members of bankrupt Tanner & Haley. The unsecured creditor’s committee is reviewing Ricketts’ offer and the final deal must be approved by the bankruptcy judge.

Last year, Ricketts himself was on the other end of an unsolicited bid when E*Trade made a $6 billion offer to acquire discount broker Ameritrade, the firm he founded. Ameritrade later acquired TD Waterhouse in a $1.7 billion deal.

If Ricketts is successful, could the next transaction involve fellow billionaire Steve Case? Helium Report predicts Case and his team at Exclusive Resorts will soon announce the first billion dollar real estate portfolio for a destination club. At ten times the value of the Tanner & Haley’s assets, it’s unlikely the luxury vacation homes are for sale, but who knows what the new year could bring after today’s surprise offer…