One Key World
"The problem with other destination clubs is that you are forced to make a long term commitment for something that doesn't need a long term commitment. With One Key World, we ask you to take two to three trips with us. As a destination club member, you are locked and loaded. You are with that club and you rely on them to continue selling if you want your money back. If you want your money back, you are on a waiting list. With us, you just don't have to return our phone calls."
From the club's Founder and CEO, Jay Sapovits, the model used by One Key World was vastly different from the more traditional destination club design.
Rather than charging members large, up front membership deposits obligated to be repaid by the club upon resignation, One Key World members purchased pre-paid travel cards within the club. As the member traveled, nights were pulled from the card until it reached zero. Members could add more nights to their card if they wished or could simply travel until the card was depleted.
One Key World had three different membership plans, offering 15, 25, and 45 "One Key Nights" respectively. The reservations structure for the club functioned on a points based system, with the property selected and season of travel factored into the number of One Key Nights required to travel. "Now the annual family winter trip to a highly coveted destination like Cabo San Lucas for a week may cost ten One Key Nights, while a four-night getaway to New York City for a couple during the fall may only cost three One Key Nights," said Sapovits.
As such, each of the membership plans listed below could potentially provide for more or less actual nightly usage, but provided a general idea about how many nights a member could travel on their card.
15 Day Membership
The introductory level to One Key World, the last published price for the 15 Day Membership was $39,900, an increase from $34,900. Members did not have any annual dues payments, but as the member traveled, nights were debited from the card.
25 Day Membership
The middle tier in the One Key trio of membership plans, members were allowed 25 One Key Nights for $59,900, a $10,000 increase from the original launch price for the plan. Like the other memberships within the club, nights did not expire.
45 Day Membership
The highest level within the club, members had 45 One Key Nights available whenever they pleased. When the club launched, 45 Day Memberships were available for $84,900 but increased to $99,900 in 2008.
Unfortunately, just after the club announced their 100th reservation in December of 2008, the club ceased operations, citing the poor economic climate of 2008 that also claimed rivals High Country Club and The LUSSO Collection amongst others.
"One Key has ceased its operations and is conducting an orderly wind down of its business. Like many other businesses and individuals, One Key was subject to a once-in-a-lifetime economic crisis that has left few untouched," the club released.
Conducting a thorough due diligence review of any clubs you are considering is a requisite step in making the best decision possible regarding destination club membership. To receive a free overview of the destination club sector with contributions from executives, members, and industry insiders, request a copy of our Destination Club Guide.