The agreement between the Network Administrator and a timeshare resort or club pursuant to which that resort or club becomes an Affiliated Resort.
A resort, resort group, vacation club, vacation plan or other legal entity with which RCI has a contractual agreement to offer the RCI Exchange Program.
Depositing a week of timeshare into an exchange system or inventory pool.
Depositing a week of timeshare into an exchange system or inventory pool.
Use of a vaction week every other year. Owners are often referred to as either "odd" or "even" year owners.
Vacation Time that is less highly demanded by RCI Subscribing Members than White Time or Red Time. (See: Seasonal Designations).
Bonus Weeks are generally low-demand weeks which are often offered by timeshare developers or exchange companies as incentives to buyers or current owners. Bonus Weeks are generally the lowest-value, off-season resort weeks. In addition to being offered as incentives, they can also be purchased from the resort as unsold developer owned weeks. When Bonus Weeks are offered by exchange companies- owners of high-demand resort weeks receive them in exchange for the deposit of their more valuable timeshare week.
If you are an owner who is unable to use your timeshare, trading it for a Bonus Week through your exchange company is preferable to losing it entirely. These Bonus Weeks are sometimes referred to as "Getaway" weeks or "Vacation Escape" weeks, and are often made available for purchase by members of the specific exchange company for a nominal fee, because they are considered "excess inventory" and are likely to go unsold. Many Bonus Weeks come with specific restrictions according to location, season and holiday, and many have expiration dates.
Fee charged to RCI Weeks Members who cancel confirmed exchanges pursuant to the "Canceling a Confirmation" section of the RCI Weeks Disclosure Guide.
The day/date on which your confirmed vacation begins.
Consumers join to obtain all aspects of their vacation needs, including travel as well as lodging for a finite term. It may or may not be tied to real estate ownership, provides the use of accommodations in multiple locations and may offer other benefits.
A form of membership where members of a resort or vacation club have the privilege of using a resort's facilities year-round; not just during their allocated week. This arrangement often comes with the purchase of timeshare, and is regulated on a space-available basis. This is currently the most popular form or vacation property ownership in the United Kingdom, and is quickly gaining popularity across the globe. Club/Trust Memberships are associated with Right-to-Use timeshare agreements, which are licensed to owners by trustees whose membership is often (but not always) backed by a deed of ownership.
This card is sent to RCI Members to obtain feedback about the vacation experience they had while staying at their host resorts. A resort's Comment Card scores play a role in determining the Trading Power for owners at that resort.
We provide you with a written document (by direct mail or email) that confirms your RCI vacation, which explains in detail the resort accommodations reserved for you.
The Vacation Week and unit that you agree to accept from RCI in exchange for the Week you deposited into RCI's SPACEBANK® system.
Agreement to purchase timeshare, which is a lifetime ownership represented by a deed.
Recurring week(s), or parts thereof, purchased or deposited into the RCI SPACEBANK® system, whether owned as a real estate interest or as a right to use interest.
An RCI Weeks Member who deposits Vacation Time into the RCI SPACEBANK® system.
The company owning the resort. Responsible for constructing the accommodations on-site and selling the product.
An RCI publication containing information regarding an exchange program.
RCI's official member magazine, published five times a year. RCI benefits are obtained only via a subscription to the Endless Vacation® magazine. Use of the term "membership" is intended to denote subscription to Endless Vacation® magazine.
One of the biggest benefits of timeshares is their inherent flexibility. One of the ways this flexibility manifests itself is in the option to exchange. Owners can choose to trade their time at one resort for time at another resort within a particular network, or for time at the same resort during a different season. It is estimated that some 80% of timeshare owners take advantage of this benefit. Exchange policies vary according to resort or exchange company, so it is important to be sure of the particulars before you decide to buy timeshare.
Exchange Companies are NOT timeshares. Exchange companies allow owners to trade their time at their "home resort" (the resort which is deeded or contracted to them) for time at any resort within the company's extensive, international network. The process works as per following:
The system that allows timeshare owners to trade the accommodations they own for comparable accommodations for travel-related services. Most resort companies are affiliated with an exchange company. Many resort companies offer an internal exchange mechanism that allows owners to exchange to resorts within their company's portfolio of resorts.
The written notice informing you that your RCI Weeks vacation has been confirmed and that resort accommodations have been reserved for your use.
RCI Points® subscribing members can use their Points to go to a Weeks resort. The Point value needed will depend on the RCI Weeks exchange grid. The number of points needed to make an RCI Weeks reservation will be based on the season, unit size and resort recognition status of the resort that is being confirmed as well as the region in which the resort is located. Once you access your Points account online and go to the area to search for a Weeks reservation, the Value Grid or Exchange Grid will be a listed option above the areas in which you indicate your search parameters.
The exchange of Vacation Time by an RCI Points ® . Subscribing Member through the External Exchange Program, RCI Weeks.
A request of resort or region choices from which RCI attempts to locate a resort unit, which has comparable Trading Power.
This is the timeshare ownership system that a resort developer may use to permanently assign the unit and/or Week during each year of your vacation ownership.
Fixed Unit ensure its timeshare owner a certain room, view or living arrangement. For example, if you've paid for an ocean-view suite with a large balcony, you'll want to ensure that you'll be given the same room every time you visit, to be sure you're getting the appropriate value for your investment. Fixed Units may also be preferable if you or a family-member needs specific accommodations or if you're looking for lodging that can accommodate your pet.
A type of timeshare ownership in which usage rights attach to a specific week of the year each year in perpetuity.
A type of timeshare ownership where the use rights are subject to the owner reserving his or her week within a season purchased (winter, summer, etc.) or sometimes throughout the year. A year-round "float" is most often found in resorts with similar seasons, like Hawaii or the Caribbean.
This is the timeshare ownership system for resort developers who give ownership flexibility through a variable unit and/or Week assignment during each year of your vacation ownership. A year-round "float" is most often found in resorts with similar seasons, like Hawaii or the Caribbean.
The selling of resort real estate in intervals of more than one week and less than whole ownership
Leisure real estate sold in intervals of more than one week and less than whole ownership. Fractionals are usually associated with the luxury segment of vacation ownership, offering greater services and amenities.
Fractional shares are also generally much larger than traditional vacation property shares. Fractionals generally vary from one-thirteenth share (1/13) to one half share (1/2). That means that, depending on the number of divisions, fractional owners can visit their vacation home anywhere from 4 to 26 weeks per year. For example, if the title is broken into 13 shares, or 1/4 of the number of weeks in each year, then each owner is entitled to one week per quarter, or 4 weeks per year.
Kitchen facilities that include a standard refrigerator, sink, range and a conventional oven.
RCI's resort recognition program honors resorts that consistently offer superior vacation experiences. The Gold Crown award requires resorts to meet more stringent standards in these areas. Additionally, Gold Crown resorts are rated highly in the areas of resort amenities, unit amenities, and guest services. Although the Gold Crown distinction is a higher award, owners at Silver Crown resorts or even standard resorts can still trade into properties with the designation.
A Gold Crown Resort is the highest rated resort category that Resort Condominiums International (RCI) designates. Gold Crown Resorts have the highest trade power within the RCI network, which means that owners of Gold Crown Resorts will have more options when exchanging their property.
The trading power of your resort is based on a number of factors including the supply of resorts in RCI's current inventory, the demand for time at that resort, the desirability of the specific week, geographic location, as well as the levels of quality and service at the resort you deposit (which will be determined by the resort rating). Gold Crown Resorts also glean a greater number of points in RCI's point-exchange program. You can expect a Gold Crown Resort to represent the epitome of luxury, quality and service.
Guest Certificates allow owners to send a friend or family member on vacation and to lodge at their timeshare unit. The Guest Certificate documentation is provided by the exchange company and is usually affiliated with a resort. Guest Certificates are just another way that timeshares are more flexible than other vacation accommodation options. With deeded timeshares, your usage time each year can be given as a gift or rented to others to cover your maintenance fees, for example.
For owners who won't be able to use their week for whatever reason, members can gift their actual week or number of points to a guest along with a Guest Certificate, legitimizing the transfer.
An RCI Member benefit that enables you to give an exchange confirmation to non-member friends or family members age 21 or older, for an additional fee. Some restrictions may apply.
Rather than offering a unit of usage time at a particular resort or property, Holiday Clubs and Vacation Clubs are programs that offer timeshare weeks at a number of (oftentimes international) resorts within a particular network.
Many vacation clubs utilize a points program, which, rather than assigning owners a specific week and resort that they may use each year, assigns owners a certain number of points. These points can then be used to "purchase" time at one of the in-network properties each year. Owners can choose to visit a different in-network resort each time their points renew, or they can "bank" or save up points to vacation at more luxurious or highly-desirable resorts, or during more desirable travel seasons. Not all vacation clubs work off a points program; some allow for straight week-to-week exchange, so it's important to consult with your resort or timeshare reseller to determine which method your club uses.
Popular examples of Holiday or Vacation Clubs include Hilton Grand Vacations Club, Worldmark by Wyndham and Hyatt. Ownership with a property within one of these clubs generally grants access to many of their other resorts, but it is important to be clear on your arrangement. It's important to discern individual resort policies, especially those regarding resale, before you buy timeshare with a Holiday Club or Vacation Club.
The group of resorts affiliated with your Home Resort in the RCI Points ® program.
The window within RCI Points ® where you may reserve a unit within your Home Group of resorts without competition from individuals that own outside your Home Group. You may make this type of reservation between 304 and 334 days (approximately 10 and 11 months) before your check-in day.
The resort location where a new purchaser owns his or her week or designated as the home resort in a club or points-based program. Ownership is usually tied to this home resort and generally involves priority reservation rights in that location.
The resort at which you own your Vacation Week or a resort at which you are assigned a Week to deposit for the purpose of exchange.
This is the reservation window within RCI Points ® where you may reserve a unit at your Home Resort between 335 and 365 days (approximately 11 and 12 months) before your check-in day.
The group of owners that administer the rules and regulations of a resort. Creation of an HOA is often required by state laws.
A group of RCI-affiliated resorts which are under common ownership, control or contractual arrangement with the RCI Weeks Member's Home Resort.
This is the reservation window within RCI Points where you may reserve the specific week and unit that you own at your Home Resort without competition from other RCI Points Members. You may make this type of reservation between 366 and 396 days (approximately12 and 13 months) before your check-in day. This priority period is for owners of Fixed Time.
The Hospitality Award is given to resorts that have consistently achieved high remarks in the areas of check-in/check-out and hospitality by RCI members. The Hospitality Award can be recognized by the icon with the gold box with a pyramid of people inside.
That exchange which occurs when the Vacation Week owned by an RCI Weeks Member is exchanged for a Week in the same Home Resort or same Home Resort Group.
Many resort families, such as Hilton Grand Vacations Club and Wyndham allow for Internal Exchange of owners' timeshare weeks. What this means is that ownership at one resort will allow owners to trade for time at other resorts in the resort family. Internal Exchange is just one of the ways timesharing is an increasingly flexible way to vacation. Many resort families have locations all over the world, and ownership at one often grants access to their many international resorts as well.
The week number of the vacation owned (i.e. week number 1, 2, 3, etc...)
Vacation ownership as measured by a set number of days and nights of annual use, usually one week.
A type of timeshare unit consisting of multiple living and sleeping quarters designed to function as two discrete units for purposes of occupancy and exchange. The unit can be combined to form one large unit or can be split or "locked-off" into two or more separate units, allowing the owner to split the vacation into multiple stays or bank all or a portion for exchange purposes.
A fee that timeshare owners are required to pay, usually on an annual basis, to cover the costs of running the resort, including daily management, upkeep, and improvements. Maintenance fees vary from resort to resort and will vary according to the type and size of the unit purchased. As such, the cost of resort operation is spread out among owners. This fee must also build up reserves to pay for non-recurring costs that need periodic replacement, and other capital costs as normal deterioration occurs.
This Management Company is usually contracted by the Home-Owners Association or the Property Owners Association, to carry out all the day-to-day management of the resort. Frequently the resort developer will have a controlling interest in the company contracted to manage the resort. Management fees usually take the form of a yearly charge which will be divided among owners and, generally, included with the annual or biennial maintenance fees.
The maximum number of persons that a resort unit may accommodate.
Kitchen facilities that feature the basic appliances found in a full kitchen, although they may be smaller than standard size.
myRCI is a free, stand-alone software application that delivers live updates from RCI directly to your desktop. This eliminates the need to open your browser or check your e-mail. When myRCI is installed, running, and connected on your PC (computer), myRCI will automatically contact our servers periodically to check for your latest account information and offers and then deliver them to you via the myRCI application.
Kitchen facilities that do not feature all of the basic appliances found in a full kitchen.
A symbolic measurement related to a timeshare ownership that is used to establish value for seasons, unit sizes, and resort locations. Points are used by developers for both internal and external exchange.
A "currency" that represents timeshare ownership and is used to establish value for seasons, unit sizes, and resort locations. Points are used by some developers for both internal and external exchange.
An offering whereby owners of a timeshare interval(s) pay(s) a fee to convert their interval for the equivalent in points.
RCI Points ® subscribing members who also own at Weeks resorts can choose to receive points for their Weeks deposits via the RCI Points for Deposit program for a small fee, (for non-commercial use only) even if that resort is not participating in RCI Points. The Weeks ownership is not actually being "converted"; however, those deposits can be converted to additional points. The member decides which weeks to convert and which to leave in Weeks, one deposit at a time (up to four weeks a year). If the member chooses to take the points, that deposit is moved to RCI Points inventory and instead of confirming an "exchange", the member will reserve RCI Points resorts or RCI Points Partner services. To take advantage of this opportunity, and to determine how many Points you can receive, call 1-877-968-7476. Please note that some resort ownerships may not be eligible for the Points-for-Deposit program, depending on the individual resort's policy.
The number of guests a unit will accommodate, allowing for two adults per separate sleeping area with a private bathroom.
This is the vacation time and unit you agree to accept from RCI Points ® in exchange for the Points from your membership account.
A Reservation of Vacation Time that is less than or greater than seven (7) nights.
The online tool that allows Points members to determine how many points are required for a Home Resort, Home Group, Standard, or RCI Weeks reservation.
RCI Points® is a points-based program that offers participants the flexibility of using points for shorter vacations, as well as travel-related products, including airfare, cruises, car rental, and hotel reservations. Many vacation clubs may also offer a points or credits based program but participate in the RCI Weeks program instead, not RCI Points.
A person who during the relevant period has Deposited Vacation Time in the Network Depository and whose Network Participation Agreement has been accepted by the Network Administrator.
RCI Points® is a points-based exchange program that offers participants the flexibility of using points for shorter vacations, as well as travel-related products, including airfare, cruises, car rental, and hotel reservations. Many vacation clubs may also offer a points or credits based program but participate in the RCI Weeks program instead, not RCI Points.
Our providers offering non-timeshare vacation options that you may book with RCI Points ® . Examples include airlines, cruise lines, hotels, car rentals and more.
This is the annual fee charged for participation in RCI Points ®. The current rate per year is $124 USD and $131CAD.
If you do not use your points for your current Use Year, they will be auto-saved into your next Use Year. It is important to mention that if you have not made any transactions for your current Use Year, there will be a $26 USD/$27 CD auto-save administration fee. Once your points have been auto-saved into the next Use Year, they will expire at the end of that Use Year.
Your personal ambassador to the world of vacation opportunities with RCI Points. Each RCI Guide is a well-trained, service professional whose goal is to help coach you through the vacation planning process.
RCI's full-service travel agency that operates exclusively for RCI Members.
The timeshare exchange program owned and operated by RCI, that allows members of RCI to exchange their Vacation Time via the RCI SPACEBANK® system. RCI Weeks is the traditional week-for-week timeshare exchange program.
RCI Weeks is the traditional week-for-week timeshare exchange program.
Vacation Time that is most highly demanded by RCI Members. (See: Seasonal Designations)
RCI Points ® members can rent additional points to complete a reservation. Point rentals are currently $.02 per point. Members may currently rent up to 50% of their current Use Year point allotment to complete a reservation. Rented RCI Points may only be used in the current Use Year and cannot be saved or transferred. Rental of RCI Points is on a first-come, first-served basis, if available. Rented Points must be used in the year rented and do not establish or provide for any recurring use.
A vacation ownership interest that is sold on the secondary market by the original purchaser to a third party.
Sometimes called a "cancellation" or "cooling off" period. A period of time during which a consumer has the right to cancel a purchase contract and obtain a full refund of his/her deposit with no penalty. Dictated by state statute and company policy, rescission periods vary from state to state, but range on average from 5 to 7 days. This is another example of the strong consumer protections built into timeshare sales.
The written contract governing the relationship between RCI and an Affiliated Resort.
Information that is sent to you upon confirmation of your vacation exchange to a host resort. These information sheets include important details such as directions to the resort, resort amenities, unit amenities, and area attractions you may wish to visit while on vacation there.
A timeshare owner’s right to occupy a unit at a resort for a specified number of years and having no real estate interest conveyed.
A timeshare owner's right to occupy a unit at a resort for a specified number of years.
When you move Points from the current Use Year to the next Use Year. Points previously saved from one Use Year to the next may not be saved into a third Use Year unless you pay for an extension.
The reservation window of one day to 303 days (approximately 10 months) before your check-in day when you may make a reservation at any available RCI Points ® Resort.
The seasonal periods into which deposited Vacation Time is divided, based upon demand. Red Time = high demand, White Time = medium demand, Blue Time = low demand.
RCI's resort recognition program honors resorts that consistently offer superior vacation experiences. The RCI Silver Crown® requires resorts to meet established standards, based on member comment card ratings, in the areas of unit housekeeping, unit maintenance, resort maintenance, hospitality, and check-in/check-out procedures.
Each resort will have different seasons. This will have a significant impact on the desirability and therefore the demand of any timeshare property. Because demand affects price and trading power within an exchange company, seasonal fluctuation is an important consideration to factor into your decision to buy, sell or rent timeshare property.
RCI has similar ways of measuring a timeshares value and demand for exchange purposes. RCI designates its High Season Weeks as Red, its Mid Season Weeks as White, and its Low Season Weeks as Blue.
A fraction of a resort's management fee that is allocated specifically to ensure that the facilities and furnishings are kept in "like new" condition.
Space Banking is synonymous with "banking," and is just another reason that timeshares are more flexible than other vacation properties. If timeshare owners can't use their week one year, or if they want to trade their time at their home resort for time at another resort within the exchange network, they may Space Bank their week.
Essentially, they are putting their week into the exchange company's inventory to be stored until next year, or to be traded for time elsewhere. It is important for owners to understand that once they've banked a week, the occupancy rights for that week now belong to the exchange company. Someone else will be booked into that time slot, and it will no longer be available for use during that year.
The inventory of Vacation Time from which RCI Weeks Exchange Requests and other demand needs are confirmed.
The day/date on which Vacation Time begins.
The annual fee for subscribing to Endless Vacation® magazine, which includes all of your RCI exchange privileges and benefits. Your subscription fee must be paid through the dates of any deposit you wish to make or any vacation exchange you wish to request.
A term used to describe a method of use and/or shared ownership of vacation real estate where purchasers acquire a period of time (often one week) in a condominium, apartment or other type of vacation accommodation. The cost of a timeshare unit is divided between multiple owners, thereby making it possible for owners to vacation at an elegant resort for far less money than it would cost to purchase a unit outright, lease a property, or rent a hotel room for an extended period of time or on an annual basis. Timeshares also make available the option to exchange time at an owner's given resort for time at other resort locations around the world.
Timeshare units also tend to be larger and more luxuriously appointed than hotel or motel rooms. That's because there are so many owner's "pitching in" on the amenities and service. Timeshare is also known as "vacation ownership."
Demand is generally based on season, and different seasons and locations will, of course, garner different levels of demand. For example, timeshares in tropical locations with a pleasant year-round climate can boast high-demand, and therefore higher rates, throughout the year. However, timeshares in seasonal locations like Cape-Cod may have high-demand seasons during the summer, and low-demand seasons during the winter months. In areas with a rainy or hurricane season, these weeks will generally be of low demand and therefore lower cost.
Exchange companies and many timeshare management companies now use color-coded classifications to determine the Time Division, demand and desirability of a particular interval week. For more information, see "Season".
A product offered after the initial sales tour consisting of travel-related products and services packaged with an opportunity to experience the resort developer’s primary vacation ownership product within a defined period. Sometimes called a "sampler" program.
Where timeshares are concerned, Trustees are a financial institution (such as a bank or a trust company) or group of individuals who hold timeshare properties and leisure facilities in trust on behalf of the owners. A timeshare buyer's right to use agreement is granted through the Trustees through a license or a Certificate of Ownership. Some trustees may have added responsibilities such as ensuring the continuity of the Owners Club.
The value assigned to deposited Vacation Time and to the related exchange request. Trading Power is the basis upon which the system searches on the RCI SPACEBANK® system for comparable Vacation Time. The value assigned to your Vacation Time is based on these factors: supply and demand, RCI Comment Card scores for your Home Resort, your unit type, the seasonal designation of your Vacation Time, and how early you deposited it in the RCI SPACEBANK® system.
A term used for the value assigned for exchange purposes to a member’s deposited vacation time. Trading Power is based on a number of factors such as: season, week type, usage type, unit type and resort quality (in terms of amenities, reputation and rating). A week's Trading Power is also based heavily on supply and demand. For example, a high-demand week at a luxury resort could be traded for two weeks at the same resort during the off season, or for two weeks at a lower-demand facility during a peak season. By the same token, if you're trading within a points program, an interval week with high Trading Power will naturally glean a greater number of points.
The starting and ending dates of a vacation exchange.
The basic configuration of a resort unit, such as "studio," "1-bedroom," "2-bedroom," etc.
The annually recurring 12-month period during which you must use Points from your RCI Points ® Membership. Points that remain unused at the end of the Use Year are auto-saved unless they have previously been saved. Points are made available to the member at the beginning of a Use Year and are valid for one year.
A term used to describe various types of timesharing and usually involving use or access to more than one resort location and other vacation and travel services. However, the term is used for many different purposes, including "clubs" which may have nothing to do with timesharing.
A person (including a corporate participant) that has purchased Vacation Time.
A term often used to describe resort timesharing.
Recurring week(s), or parts thereof, purchased or deposited into the RCI SPACEBANK® system, whether owned as a real estate interest or as a right to use interest.
Vacation Time that is less highly demanded by RCI Members than Red Time and more highly demanded than Blue Time (See: Seasonal Designations).
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