Premier Destinations, a new destination club that launched last year with plans for a portfolio of 20 multi-million dollar homes and a unique member deposit refund system, has apparently stopped selling new memberships. The status of the destination club is unclear and CEO Vicki Vorhees did not respond to repeated requests for comment.

The Premier Destinations website is down and the toll-free phone number has been disconnected.

Earlier this week we reported on the struggles of another start up destination club, My Global Playground. Getting new clubs off the ground remains a tough proposition, as clubs need to simultaneously build up their inventory of homes as well as their membership numbers. New homes attract new members, but it is the membership deposits that fuel the purchase of new homes.

When we first profiled Premier Destinations in the summer of 2006, Vorhees outlined the plan to launch 20 homes to members by the end of 2006. Members would enjoy perks like an SUV at most properties and a private chef prepared meal served upon arrival. The first property in Rancho Santa Fe was to be followed by nine other west coast homes. The club then planned to expand eastward.

Membership, at a $490,000 entry fee, came at a premium, but Vorhees stressed the club’s unique approach to refunding member deposits. While many clubs require that a new member join in order for a current member to exit, Premier Destinations had no such requirement. Instead it promised that members would be able to get back 85 percent of the future value of their deposit, refunded within three business days. The club would hold a portion of deposits in a reserve account in order to fund refunds.

We’re continuing to keep tabs on the destination club industry as a whole and closely watching the progress of new clubs entering the market. For more information on choosing a destination club and for a list of due diligence questions to ask before joining any club, regardless of its size, download Halogen Guides’ Decision Guide to Destination Clubs.

Archived screenshot (07/07/2006) below