One Key started in 2006, but in January 2009 announced it was closing operations due to the economy.

This luxury travel club had a different model to the destination clubs in that it didn''t own any of its homes. This means that members did not need to pay a large initial membership fee (which the other clubs use to buy their homes). Instead the club operated similar to a prepaid jet card, so members bought an initial membership level which gives them a certain number of points (called "One Key Nights"). The club then provides access to a variety of homes which have different points values depending on season, location, size and amenities of the home.

The club also provided various pre-trip and during trip services and amenities for its members.

The club had three membership levels:

•   45 One Key nights for $99,900
•   25 One Key nights for $59,900
•   15 One Key nights for $39,900

Members could use their points over any time period and unused points did not expire.

The club was headquartered in Mansfield, MA.