Resort Condominiums International
Encyclopedia
RCI is a division of the firm Wyndham Worldwide
(spin-off from Cendant
).
Founded in 1974 by Jon and Christel DeHaan, it has grown to become one of the larger brokers of timeshare
trades. RCI has over 4,700 affiliated resorts in over 100 countries around the world. Its membership base is approximately 3.6 million members worldwide. RCI operates two main exchange programs - RCI Weeks and RCI Points.
, and its European membership office is in Kettering
, England, with several satellite servicing offices in places such as Mexico City
; Cork, Ireland
; Manila, Philippines; Bangalore, India; Singapore
; Dubai, United Arab Emirates; and Montevideo, Uruguay.
Currently, RCI's biggest competitors in the timeshare market are Interval International
and Trading Places International
.
In July 2007, RCI was merged with Holiday Cottages Group, another of Wyndham Worldwide's subsidiaries. The two would still retain their individual names but operate under the parent name GroupRCI until 2010, when the two companies changed the name to Wyndham Exchange and Rentals.
Customers who buy a timeshare with an RCI-affiliated developer have the option to become a paid member of RCI. Such membership entitles them to exchange (swap) their timeshare with other members. RCI facilitates and fulfills the exchange. More information about the Points and Weeks programs that RCI sells can be found on the company's website. Also Wyndham Worldwide, RCI's parent company does develop and sell timeshares having several resorts around US which are listed in RCI's resort directory.
RCI has resort affiliates in over 100 countries around the world on every continent. The company recently announced a few relationships with the Huangshan Grandview Resorts Hotel in Huangshan, China.
Wyndham Worldwide
Wyndham Worldwide is the holding company for Wyndham Hotels & Resorts, Group RCI and other lodging brands. It was spun off from Cendant Corporation in July 2006....
(spin-off from Cendant
Cendant
Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, Cendant broke up and spun off or sold its constituent businesses...
).
Founded in 1974 by Jon and Christel DeHaan, it has grown to become one of the larger brokers of timeshare
Timeshare
A timeshare is a form of ownership or right to the use of a property, or the term used to describe such properties. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time in which they may use...
trades. RCI has over 4,700 affiliated resorts in over 100 countries around the world. Its membership base is approximately 3.6 million members worldwide. RCI operates two main exchange programs - RCI Weeks and RCI Points.
Corporate structure
RCI's CEO and president is Geoffrey A. Ballotti. RCI's corporate headquarters is in Parsippany, New Jersey. Its North American membership office is in Indianapolis, IndianaIndianapolis, Indiana
Indianapolis is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. As of the 2010 United States Census, the city's population is 839,489. It is by far Indiana's largest city and, as of the 2010 U.S...
, and its European membership office is in Kettering
Kettering
Kettering is a market town in the Borough of Kettering, Northamptonshire, England. It is situated about from London. Kettering is mainly situated on the west side of the River Ise, a tributary of the River Nene which meets at Wellingborough...
, England, with several satellite servicing offices in places such as Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
; Cork, Ireland
Cork (city)
Cork is the second largest city in the Republic of Ireland and the island of Ireland's third most populous city. It is the principal city and administrative centre of County Cork and the largest city in the province of Munster. Cork has a population of 119,418, while the addition of the suburban...
; Manila, Philippines; Bangalore, India; Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
; Dubai, United Arab Emirates; and Montevideo, Uruguay.
Currently, RCI's biggest competitors in the timeshare market are Interval International
Interval International
Interval International is a publicly traded company and former subsidiary of the corporation IAC/InterActiveCorp and is headquartered in Miami, Florida, USA. The CEO is Craig Nash.-Background:...
and Trading Places International
Trading Places International
Trading Places International is a corporation located in Laguna Niguel, California. TPI provides a full spectrum of vacation services to vacation interval owners, resort associations and resort developers. They rank third worldwide in independent vacation exchanges confirmed annually at hundreds...
.
In July 2007, RCI was merged with Holiday Cottages Group, another of Wyndham Worldwide's subsidiaries. The two would still retain their individual names but operate under the parent name GroupRCI until 2010, when the two companies changed the name to Wyndham Exchange and Rentals.
Business model
Timeshare exchange is often confused with timeshare sales. RCI is in the business of timeshare exchanges. It does not develop or sell timeshares, although it does sell a Points Program and a Weeks Program to use in the RCI affiliate resorts network. In the Points program, members receive an allotment of points that can be applied to different factors, such as room type, resort quality, location, and time of year. In the Weeks program, members may exchange their property's shared time for another week at an equivalent or lower value property. Members may join one program or the other, but not both. Annual memberships are required.Customers who buy a timeshare with an RCI-affiliated developer have the option to become a paid member of RCI. Such membership entitles them to exchange (swap) their timeshare with other members. RCI facilitates and fulfills the exchange. More information about the Points and Weeks programs that RCI sells can be found on the company's website. Also Wyndham Worldwide, RCI's parent company does develop and sell timeshares having several resorts around US which are listed in RCI's resort directory.
RCI has resort affiliates in over 100 countries around the world on every continent. The company recently announced a few relationships with the Huangshan Grandview Resorts Hotel in Huangshan, China.
Litigation
A class action lawsuit against RCI was pursued by Green Welling LLP on behalf of RCI Weeks Program members in New Jersey of 2006. The Plaintiff alleged that RCI actually rents out the most desirable and highly demanded vacation weeks from the spacebank, thus depleting the most desirable options available to Weeks Program members who seek exchanges. The lawsuit was settled in favor of the plaintiff. Benefits for RCI members would have begun on January 11, 2010 but one or more appeals of the entry of the final judgment were filed. Thus the Effective Date began July 28, 2010 when all appeals were resolved.Philanthropy
RCI co-founder Christel DeHaan has opened five schools — known as Christel House — in Bangalore, India; Mexico City, Mexico; Cape Town, South Africa; Caracas, Venezuela; and, Indianapolis, Indiana, USA. The schools are designed to provide an education to poor children around the world.Awards
- Jeff Parker, on behalf of Group RCI, won the "ACE" employee award in 2007 from the American Resort Development Association.
- In 2011, 2010, and 2009, RCI was named one of the Best Places to Work in Indiana by the Indiana Chamber of Commerce.
- In 2009, RCI (Grupo RCI Mexico) was named to the 2009 List of Best Companies to Work for in Latin America.
- In 2009, RCI (Grupo RCI Mexico) was named to the 2009 Best Places to Work for in Mexico.