Yes, a "reef club" is often a type of yacht club
, or at least heavily features yachting/boating as a core activity, like the
Ocean Reef Yacht Club or
Coral Reef Yacht Club, which focus on boating, racing, fishing, and social events, though some, like the big
Ocean Reef Clubin Key Largo, are much larger exclusive communities that
contain a yacht club and extensive other luxury amenities (golf, airport, spa). So, it's a specific name for clubs centered around marine life/reefs and boating.
As Zi said, you should quit while you are still behind.