Life After Work: What's Wrong With This Club?

Destination clubs, in which you plunk down a sizable deposit and pay an annual fee for access to luxury resort homes around the world, aren't the bargains they once were. Many are raising fees and dues, and some are shedding properties and initiating stricter reservation systems. And in the wake of a July bankruptcy filing by Tanner & Haley, the industry pioneer, the possibility of losing your privileges and your entire deposit has come front and center.

There are some 20 destination clubs, with a total of 4,000 members--a number that is expected to grow tenfold in the next few years....

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