The concept of a destination club was introduced in 1998, when Rob McGrath, a veteran of the luxury timeshare development business, launched Private Retreats. Since then, more than 30 companies have launched clubs targeting affluent families that want the benefits of second home ownership, but with more flexibility and choice in where they vacation each year. Inspirato with American Express is the world's largest destination club. By joining a destination club, a member gains access to a collection of vacation homes in various locations around the world in exchange for a one-time membership fee and annual membership dues. Consistent with other vacation options, inventory can be booked based on availability. Some clubs allow members to purchase different membership-types which offer different levels of reservation priority, personalized services and resort amenities such as beach clubs, luxury spas and private chefs. What is included Benefits and access privileges vary by club. Here is a list of those offered by most clubs: Access to private homes, town homes, condominiums or hotel units, typically on resort properties or near iconic resort locations. Usage rules vary between restricted travel (10–60 days) of home usage to unrestricted travel by club members. The ability to book homes in advance and on a “space available” basis, as well as a system to handle the demand for holiday or peak periods. High service levels including: pre-trip planning, on-location concierge services, and daily housekeeping service. Luxury furnishings and audio-visual equipment Additional membership privileges and benefits, including special club events, and access to resort amenities, spas and fitness centers. Membership model While there are several variations, the basic choices are between equity, non-equity and next-generation clubs that defy the standard models. This is similar to the membership model choices at country clubs. In all models, club members provide an up-front sum and an annual fee though the exact amounts vary significantly by club-type. Non-Equity Club Model - In non-equity clubs, members enjoy the hospitality benefits of the club, but don’t own an interest in the homes and so are not impacted by the real estate appreciation or losses of the club's residence portfolio. The up-front payment is a deposit, and traditionally when they resign from the club, members receive 75% to 100% of that deposit back. However, in recent years, non-equity clubs have gotten away from refunds. Exclusive Resorts (launched in 2002) is an example of this model. Members pay a