Choice Escapes Resignation and Redemption
Choice Escapes always had a "one in, one out" resignation policy that simply required one new member to join the club for the one exiting member to be redeemed. Early in 2007, the club transitioned away from fully refunding membership deposits. One of the club's leading competitors Private Escapes had also done so early in the year and Choice Escapes began to refund a predetermined dollar amount to exiting members, between 68% and 76% of the total membership fee, depending on the membership plan.
A one in, out out resignation policy is rarely seen in the destination club industry.
|