One Key World Ceases Operations

By: Destination Club News
Date: January 19, 2009

One Key World, a destination club blending the shared travel experience with the fractional jet card model, has ceased operations as first reported by our friends at SherpaReport.

"One Key has ceased its operations and is conducting an orderly wind down of its business," said One Key World Founder Jay Sapovits to Nick Copley. "Like many other businesses and individuals, One Key was subject to a once-in-a lifetime economic crisis that has left few untouched."

Sapovits first conceived of the idea while an executive at Marquis Jets, who at the time was working on a partnership with Exclusive Resorts, the world's largest destination club. Sapovits would leave Marquis Jets in August of 2006 to begin working on the new hybrid model. Bringing his experience in fractional jet cards, where members pre-pay for hours of private jet access, the new club would offer members the opportunity to enjoy the destination club experience without paying a large, upfront membership fee as was the norm across the destination club industry.

"We wanted to offer a simple and flexible solution that allowed travelers to make the most use of their membership, without the considerable upfront capital or long-term commitment. We're not restricted to a pre-selected portfolio of homes and are focused solely on accommodating our membership," said Sapovits when the club launched. "Because there are no long-term commitments, we know we have only one opportunity to deliver an unforgettable vacation experience."

Calling the club "the next generation of destination club," Sapovits and One Key World would launch early in 2007 with a trip to Beaver Creek, Colorado. During the inaugural vacation, the mountain lost power, but One Key would deliver on their promise to cater to members' needs by visiting with flashlights, candles, and snacks for the children.

Just last month, One Key announced their 100th vacation and were "looking forward to continued growth in membership and continued vacation bookings for the 2009 year." Like many other destination clubs, it appears that sales have proven difficult in the current economic climate. The small Vita Luxury, who planned to use a very similar structure to One Key World where none of the assets would be owned by the club, ceased operations last year and High Country Club, one of the industry's largest club's have been attempting to restructure their club for several months without success.

Due to their unique club structure, hopefully the "wind down" process goes smoothly. Despite their closure, One Key has left an indelible mark on the destination club sector, with clubs like Elite Shares and The Discovery Club using similar club structures.

Evaluating clubs like One Key World or other low priced alternatives within the destination club sector still necessitates a significant amount of due diligence. If you would like assistance in your evaluation, a good place to start is requesting a free copy of our Destination Club Guide.