Vacation-bound Europeans can find a wider selection of resorts at Britain's Thos. Cook & Sons, fancier accommodations at Hilton hotels, or lower prices at youth hostels and campsites. The competition is intense, but even so, the Paris-based Club Mediterranee has prospered. For its 700,000 members, who pay $10 each in annual dues, Mediterranee has a unique attraction—the away-from-it-all ambiance of the 47 "vacation villages" that it maintains in 13 countries on five continents. Founded in 1950, the club has been increasing its revenues by 25% a year; in 1968 it took in...
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