Destination clubs have been increasing in popularity over the past few years. They provide a good alternative to luxury vacation homes, in fact some destination club owners have sold their second homes when they join a club. But, there are pros and cons on both sides. If you're thinking of buying a vacation home or joining a destination club read through the factors below before making your choice.

With its successful acquisition of Tanner & Haley properties Ultimate Resort has introduced Ultimate Resort ELITE. Members in this club enjoy luxury homes with an average value of $3.5m. Approximately half of Ultimates overall 105 homes are part of the ELITE portfolio.

When we first mentioned The Hideaways Club two months ago, they were still getting ready to launch. Now with them officially launched and accepting members and their first properties opening in May this year, it's time for an update on this European equity based destination club.

In a new move among Destination Clubs, Exclusive Resorts has just opened its own members-only resort at Peninsula Papagayo on the north Pacific coast of Costa Rica. This exclusive peninsula offers a wealth of luxury amenities and access to Costa Rica's amazing wildlife.

Exclusive Resorts just announced an enhanced collection of services for its members. The services include travel assistance, premier rental car and air transportation access and medical advisory services.

The most popular article on the Wall Street Journal yesterday was the write up on the amicable split of Tim and Edra Blixseth. One afternoon, over a bottle of wine, they mutually agreed on who got what.

The Hideaways Club has just raised £15m ($29m) and is looking to purchase its initial properties across Europe. The locations under review include Spain, France, Italy, Morocco, Switzerland, Greece, Cyprus, and Crete. The plan is to buy properties in the $1.5m to $2m range.

With the announcement yesterday BelleHavens follows the trend in the Destination Club industry of having backing from a billionaire. In this case the funding comes from Ray L. Hunt and his Hunt Realty Corporation.

The continued consolidation in the Destination Club industry saw another merger last week, when Quintess combined with The Leading Residences of the World, to create a club with nearly 300 members and 49 homes in 26 destinations.

For new members who join before the end of 2006, BelleHavens is offering complimentary lifetime "Friends and Family Passport". The Passport allows members to offer their membership days to any friends and family, without the member being present and without any restrictions to immediate family members.

The membership levels being offered are shown in the table below:

Just when it looked like Tanner & Haley's members and properties were going to join up with Ultimate Resorts, along comes Joe Ricketts (founder of Ciel and Ameritrade) with a $108m offer. This is $10m more than last weeks offer from Ultimate Resorts. So it's going to be interesting to see where Tanner & Haley ends up.

Preeminent Global Experience, LP (PGE), the parent company for Ciel, is offering all Tanner & Haley members the opportunity to join Ciel, with Legendary Retreat Members receiving a membership with no membership deposit. PGE will also form a New Club for all the other T&H members.

These two clubs announced their merger today and have 10 homes valued at an average of $6 million each, plus a luxurious 90-foot motor yacht. They are very much at the super luxurious end of the Destination Club industry.

American Express cardmembers can now get up to one million membership rewards points when they join Exclusive Resorts. This recently announced special promotion runs through 31st January 2007 and the number of points varies with the membership level that you purchase. The one million level is awarded for an Elite Membership.