Private Retreats
Resignation and Redemption

Widely known as the world's first destination club, Private Retreats would create many of the staples used across the industry, including the resignation and redemption policies used by many of today's leading clubs.

"We understand life can be unpredictable and schedules or circumstances may change at any time," the club wrote. "Which is why, unlike other destination clubs that offer less than a full refund, our Members may return their membership to the Club at any time for a complete refund of the original amount paid without deductions for transfer fees, registration fees or commissions. Our one-time, fully refundable Membership fee, along with our low annual dues and nominal daily fees, are additional advantages of Tanner & Haley Destination Clubs membership."

Private Retreats would refund resigning members on a three in, one out policy. Members looking to leave would be put on a waiting list, and wfor every three new members that joined the club, the member who had been on the waiting list the longest would be refunded.

In time, the success seen at Private Retreats would lead to the creation of companion clubs Distinctive Retreats, Distinctive Retreats II, and Legendary Retreats. Each of the four clubs would have their own property collection and members and would blend resignation structures.

Distinctive Retreats would follow the same redemption policies used by Private Retreats, but the other two offerings of Tanner & Haley would follow a different model.

"Tanner & Haley Destination Clubs has created a revolutionary financial structure in our two newest Clubs, Legendary Retreats and Distinctive Retreats II, that allow you to 'own' any appreciation of your Club deposit, less a small transfer fee if you should ever choose to leave the Club," the club's literature stated. "This superior financial structure is just another way of honoring our Members and trying to improve their lives in every little way that we can."

Unfortunately, as the world's first destination club, many of their policies proved to be unsustainable, leading to the industry's first major bankruptcy.

According to club documents, the requirement to enter into countless short term leases to adhere to their availability guarantee and low annual dues and nightly fees crippled the club, forcing for a Chapter 11 bankrupcty filing in 2006.

Ultimate Resort would eventually be selected to acquire the struggling club, with nearly 650 members from Tanner & Haley's three clubs electing to join with Ultimate. Going from a strong upstart club to the second largest destination club in the sector, Ultimate Resort would go on to acquire Ventures Equity Vacation Club and Private Escapes, enter into an agreement with Everlands, and absorb members from High Country Club to form their diverse membership base, now known as Ultimate Escapes.