Kagehitokiri

exclusive resorts for example has some units that have rental values of up to and above ~$6K, which if you get them for ~$1K or less (annually), thats a pretty good deal. (85% off) (or it becomes one after a few years)

(Little Dix Bay, Regent Palms Turks & Caicos, Raffles Canouan. the first 2 properties' units are not even available through hotel reservations.)

edit - raffles canouan is quintess, my bad.
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banyan tree private collection is another, IIRC the seychelles 2BR is $7K a night over XMAS/NYE, or $49K/wk. the cost of membership is $120K down and $3K a year for 1 week use. (95% off) making it "profitable" very fast depending on usage restrictions if there are any.
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Luxury Vacation Cabo San Lucas, Mexico
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Villa Amanda - Corridor - Villa Rentals in Cabo San Lucas & San Jose Del Cabo: Resorts
5BR as opposed to solstice's 4BR
can save ~$1K/nt through one key

some of the properties like Four Seasons Las Vegas Presidential Suite actually run $5K per night if you booked direct. (save ~$3K)
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edit - some updated / actual numbers for ER >

- $7371 - 4BR villa @ little dix bay (1/3/09 - 4/14/09)
(XMAS/NYE rates not published)

- $7800 - 3BR OF PH @ regent palms (12/20/07 - 1/2/08)
(4BR not bookable, current rates not published)

x $18900 - 3BR estate @ four seasons costa rica (12/20/08 - 1/4/09)
(3/4BR no longer available)

TarheelTraveler

While DC dues are not cheap, it is in my experience a good bit less than renting comparable properties. First, it is often difficult to find comparable properties, then rental properties don't have the same level of furnishings and services typically (e.g., concierge service, every imaginable kitchen appliance and tool, in house chef cooked breakfast in some houses). However, it still works out to be cheaper, even ignoring any potential appreciation you might get with an equity DC or a club which provides for appreciation of the refundable deposit. For example, I'm in Punta Mita, Mexico right now and the comparable per night cost is in the $2,500-$3,000 range versus dues of about $700/night and assuming no appreciation, in the $1,200/night range.