ThirdHome is redefining travel one luxury property at a time, thanks to American entrepreneur Wade Shealy. Through the company, members offer their vacation homes for bookings of three to seven nights—similar to private global exchanges for beachfront villas, ski chalets, and mountain retreats—and earn “keys” that act as travel credits for staying at other members’ homes.
Shealy had the idea for ThirdHome when he was working in resort real estate at Hilton Head, South Carolina, in the 1980s. Over time, he saw how clients bought vacation homes and grew bored returning to them year after year. “They loved their homes but felt tied down by them,” he explains. “That contradiction sparked a realisation: what if their second home could act as a passport to other luxurious destinations?”
Since launching in 2010, ThirdHome has grown into the largest private network of luxury second homes in the world. Its portfolio consists of more than 20,000 properties in over 100 countries, with property values ranging from US$500,000 (S$642,636) to US$50 million. To date, more than 1,600 members have completed over 50,000 home exchanges.
Shealy’s sights are now set on Southeast Asia, where luxury travel is projected to grow at an annual average of 9.8 percent from 2025 to 2033. Adding to his optimism is the fact that second-home ownership is on the rise in the region. According to a recent report by Bangkok-based analyst C9 Hotelworks, luxury-branded residences, including those led by The Ritz-Carlton Hotel Company, make up 32 percent of new residential supply in Asia.
“Southeast Asia represents an exciting growth frontier for ThirdHome because it combines several key factors that align with what our members value: rich cultural heritage, breathtaking landscapes, and a fast-developing luxury infrastructure,” says Shealy.
What standards guide your property curation across Southeast Asia, and how does that range let members move between city stays and beach retreats?
We curate properties according to strict standards in luxury and comfort, whether they are sleek apartments in Singapore or secluded beachfront villas in the Philippines. With our wide range of properties, members can switch between urban adventures and quiet retreats.
What are the most popular Asian destinations among your members?
For Europeans and Australasians: Thailand, Bali and Japan’s ski regions. For US members: Niseko and Hokkaido dominate. We’re actively looking to bring more homes to these areas.
From door-to-door sales to luxury real estate, your journey has been fascinating. How have these experiences influenced your leadership style?
Our members trust us with one of their most valuable and meaningful assets. A second home isn’t just a property; it’s where memories are made with family and friends. I don’t take that lightly. ThirdHome is a private vetted community with a shared understanding of respect and care. This trust holds the ecosystem together, and I carry this trust into the way I lead. So much of leadership comes down to relationships. You can have the best strategy in the world, but if you don’t have trust, you don’t have much.
What do you do to ensure quality and trust among your members and their homes?
Each home undergoes a thorough vetting process that looks at everything from the location and design to amenities and overall presentation. With an average home value of US$2.4 million, we maintain a consistently high standard. We also have a two-way review system, where both guests and hosts can leave feedback after each stay. In this way, we maintain standards, resolve any issues quickly, and make sure members respect each other’s homes.
What is your favourite exchange story?
After a couple of bottles of wine with her friends, one of my members browsed ThirdHome and booked a stunning coastal home in Ecuador. She called me the next morning, panicking and asking me to cancel. It felt too remote and out of her comfort zone.
I hadn’t been there myself, but I knew the home and the area well enough to be confident she’d love it. I didn’t want her to miss out on a once-in-a-lifetime experience, so I told her I couldn’t cancel. I even promised to reimburse her travel credits if she didn’t enjoy it.
She and her friends went and fell completely in love with Ecuador. Now, they get together every year for their “drink and book” ritual: enjoy a few glasses of wine and browse ThirdHome for the wildest, most unexpected trip they can take.
