The young destination club Exclusive Resorts managed to acquire 25 members just a few short months in the sector. While a tremendous success at the time for the new club selling a new product in the market, the growth the club saw in its initial months would look miniscule compared to the growth the club would see in the coming months and years.
Exclusive Resorts would be contacted by Steve Case, the Co-Founder and former CEO and Chairman of America Online in May of 2003. Case already owned three vacation homes but never felt they were accessed enough to justify their purchase and was looking for second home alternatives.
Within days, Case had not only become a member, but was so wowed with the concept that he would become 50% owner of the club and the wheels of the club's rapid growth to market supremacy had been put into motion.
By July, the club had tripled their membership base and were receiving 400 inquiries weekly. Case would become an 80% owner of the club in November of 2003. A year later, the club had passed the 1,000 mark.
Late in 2006, Exclusive Resorts passed 2,500 members and had more members than the rest of the destination club industry combined. The club's growth was so rampant, that they would be forced to implement a waiting list to join the club in order to bring new properties online fast enough to meet demand.
This demand led the club to surpass the $1 billion mark in real estate holdings in 2007.
Without question, Exclusive Resorts is the largest destination club in the world and has no plans to relinquish that position any time soon.