One Key World
Resignation and Redemption

One of the primary draws of joining One Key World was that there was no resignation or redemption for a member to go through.

"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," said Founder and Chief Executive Officer Jay Sapovits. "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."

To understand how One Key World operated, you must understand how their competitors functioned. In the traditional destination club model, members pay a refundable membership deposit when they join the club. These funds are used to purchase real estate for club members to access. Members are also obligated to pay annual dues that are used to maintain the club properties and for the other costs the club incurs. If a member elected to leave the club, they would be typically be placed on a "resignation list." For every three new members that joined the club, one member would be redeemed from the resignation list and repaid their refundable membership deposit.

In this structure, the club must continue to sell new memberships to purge the resignation list of exiting members.

One Key World did not have a refundable membership deposit nor annual dues, instead selling pre-paid travel cards that members used to access club properties. Instead of owning the properties available to members, One Key would lease residences as members needed them.

Selling 15, 25, and 45 night membership plans, members of One Key could travel until their cards were depleted. At any point during their time with the club, they could add more nights to their card to enjoy and these "One Key Nights" never expired.

If a member did wish to "resign" their membership, they would simply continue traveling with the club until they reached zero and not replenish their travel card. Members did not need to wait for more members to join the club or pay annual dues.

In January of 2009, One Key announced that they would close, citing the economic climate of 2008 and 2009. "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."

That same economic climate would claim other destination clubs, including The LUSSO Collection, High Country Club, and Solstice Collection.

Understanding your rights as a member during the resignation process and how a member exits the club is one of the most important portions of the evaluation process. To learn more about the destination club model and to receive a free list of suggested due diligence questions pertaining to resigning a destination club membership, request a copy of our Destination Club Guide.