Everlands
Resignation and Redemption

Like the vast majority of other destination clubs, Everlands used a three in, one out resignation policy that required three new members to join the club to redeem one exiting member.

Everlands used a slightly different membership model than most other destination clubs. Memberships were available by invitation only for $1 million, $475,000 for Founding Members. Members were only required to pay 15% of their membership deposit when they joined, with the remaining 85% due once the club reached 100 members.

According to the club's launch press release, the refundable aspect of this initial 15% was tied to initial sales marks. "To minimize financial risk for Members, a 15 percent deposit is required by each Member at the time of commitment, which will be returned with interest if initial Membership goals are not achieved."

The young club made positive strides towards their 100 member goal until Lehman Brothers, a major financier and investor in the club, filed for bankruptcy. Not only did the filing send the Dow Jones to a near 300 point tailspin, but also stopped the momentum of Everlands.

In February of 2009, the club ceased new membership sales and discontinued their marketing efforts and began searching for "a partner who had a proven and solid financial track record, as well as an impressive management team in place, to provide Everlands' members with a compelling offer for a comparable lifetime of extraordinary club experiences."

In October of 2009, Everlands and Ultimate Escapes had announced a strategic partnership that would allow members of Everlands the opportunity to join Ultimate Escapes with preferred membership terms.