Aug 26 2008
RCI Points benefits
RCI Points benefits
RCI introduced
the world’s first points-based global exchange program in 2000, a revolutionary
enhancement to traditional week-for-week exchange, offering vacationers additional
flexibility. From the length of a stay to how the points are applied (toward
accommodations or other travel products), points-based exchanges have given
owners an ever-expanding wealth of options.
As is customary for points based programs though, use of points for
timeshare lodging provides optimum value and most other use for points is best
utilized only when points would otherwise expire.
Why Points?
In 1974, RCI
introduced the RCI Weeks exchange program. This concept of week-for-week
timeshare exchange provided timeshare owners with the ability to trade one
vacation week for another. As of today, the program serves over 2.7 million
subscribing members worldwide, more than any vacation exchange program in the
industry.
Nevertheless, in
looking at changing lifestyles and demographics, RCI anticipated that there
would be growing demand for a more flexible exchange system as well. When
surveyed, many RCI subscribing members confirmed that they would like more
flexibility and greater ability to leverage the value of their timeshare
purchases.
The RCI Points
exchange program has grown quickly. Today, the program serves
more than 550,000 subscribing member families in North America; more than
660,000 worldwide. There are currently more than 900 RCI Points
affiliated resorts in destinations around the globe, from Mexico, the
Caribbean, South America and Europe to the Middle East, Asia, China, and the
Pacific region.
Key reasons to participate in RCI Points:
1: RCI Points offers flexibility. Unlike
traditional week-for-week exchange, the RCI Points program allows subscribing
members to stay a single night or longer at hundreds of RCI Points affiliated
resorts. RCI Points subscribing members can convert a one-week interval into
several vacations. This valuable feature can benefit subscribing members even
when returning to their home resorts. For example, the owner of a two-bedroom
unit who booked a studio during the same interval would use only the amount of
RCI Points needed for the studio and still have the RCI Points differential
“in the bank” for future vacations.
2: RCI Points can be saved and used in the
future. Because unused RCI Points can be saved for up to two years and
borrowed up to a year in advance, owners can “save up” to splurge on
a vacation they desire. Subscribing members who are shy a few RCI Points to
book their vacations might carry over some RCI Points from the previous year
and borrow from next year’s allotment.
3: RCI Points can be exchanged for
travel-related products. Choices include airfare, cruises, car rentals, and
hotel accommodations from leading travel service providers, including American
Airlines, Avis, Ramada, Hyatt and Carnival Cruise lines.
4: RCI Points subscribing members get access
to budget-friendly non-exchange vacation options. RCI’s non-exchange travel
benefits such as special rates on cruises, non-exchange resort stays and
last-minute getaways, long enjoyed by RCI Weeks subscribing members, are also
available to RCI Points subscribing members.
5: RCI Points subscribing members use their
ownerships more. With .92 annual exchanges per member (1), the RCI Points
program has one of the highest usage rate of any
global vacation ownership exchange program in the industry.
Getting Started
Owners at RCI
Points affiliated resorts have the option to become RCI Points subscribing
members. Once accepted, subscribing members can exchange within the RCI Points
system. Many existing RCI Weeks affiliated resorts have also joined the RCI
Points program. These affiliated resorts then can offer owners the option of
converting their ownerships to RCI Points for a fee. People whose resorts don’t
offer RCI Points conversions sometimes persuade their
boards to participate in the RCI Points program.
For RCI Points
subscribing members who also own vacation weeks at RCI Weeks affiliated resorts
which are not participating in the RCI Points program, RCI offers a
“Points for Deposit” program.. This allows RCI Points members to convert vacation weeks at RCI Weeks
affiliated resorts into RCI Points and deposit those RCI Points into their
account.
One question that
often arises is why affiliated resorts charge owners to convert from the RCI
Weeks program to the RCI Points program. One explanation provided is the operational costs resorts incur
in changing over systems from weekly to more frequent check-ins. Operating a
resort with varied check-in dates is also more expensive than a fixed-date
weekly turnover in terms of bookkeeping systems, front desk and housekeeping
services. The conversion costs and pricing to owners varies greatly from resort
to resort. But the primary reason is
that resorts want to offer new services and products which they can profit
by. If the initial reasons were truly
significant cost, those costs would be added to the timeshare owners’ annual
maintenance and the RCI exchange fees and thus the up front
fee has nothing to do with actual costs to manage the points
participation.
Assigning RCI Points values. Each purchased or
converted vacation week is assigned an RCI Points value. The RCI Points value
of a specific week is based on several factors, including the supply and demand
at that particular resort location, the season of ownership, the type and
location of the unit, and evaluations from members who’ve stayed there.
RCI and the
resorts allocate points at the beginning of each member’s Use Year and
subscribing members can view their RCI Points balances
and expiration dates at any time on RCI.com. On line, subscribing members will also find the
RCI Points values of resorts worldwide. Additionally, on-line booking is
available or in the works in most regions of the world.
Saving and borrowing. Each membership is based on a
Use Year, a recurring 12-month period. Use Years always start at the beginning
of a month and end on the last day of the previous month. For example, if a Use
Year begins on July 1, 2007, it ends on June 30,2008.
Unlike many
traditional exchange programs, the RCI Points exchange system allows owners to
save and borrow points. As long as some RCI Points are utilized within a Use
Year, the balance is “saved” and automatically carried into the next
Use Year. If a subscribing member does not utilize any RO Points in a Use Year,
those unused RCI Points can be extended for a fee. However, RO Points cannot be
saved indefinitely and can only be carried over for two Use Years.
RCI Points also
can be borrowed at no charge from the next Use Year as long as annual
subscribing membership fees are up to date through the next Use Year. For example:
a subscribing member and his or her RCI Guide have determined that a vacation
will require 40,000 RCI Points. The subscribing member has a balance of 34,000
RCI Points. So, the member is 6,000 RCI Points shy of what is needed. The
subscribing member can then borrow the 6,000 RCI Points from the next Use Year.
Planning Ahead. RCI Points Reservation
Windows make it easy for owners to plan in advance. Each type of reservation
has a different “window of opportunity” when home resort or home
group reservations can be requested with little competition from other RCI
subscribing members.
Easy exchanges. One of the big advantages
for RCI Points subscribing members is ease of use. Vacations are not limited to
a week and owners exchange their RCI Points only for the days they use. Owners
whose resorts are very desirable might leverage several vacations out of a
single week. On the other hand, owners of less desirable vacation weeks can
save and borrow points to upgrade their vacation experience.
RCI is always
looking at ways to better serve its affiliated resorts and their owners with
new options and enhanced services. In fact, RCI plans to make some enhancements
to RCI Points to make the program even better and more valuable for its
affiliated resorts and its subscribing members.
(1) With ..92 annual exchanges per member,
the RCI Points program has one of the best utilization rates of any vacation
ownership exchange program in the industry.
