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.
Large resort families who own several timeshare resorts may offer internal exchange programs wherein owners at one resort within the network are grated access to several of the resort family's properties. For example, ownership at a Hilton Grand Vacations Club timeshare in Las Vegas may also grant access to dozens of other great resorts in the Hilton Grand Vacations Club family.
Exchange may also refer to trades made outside of a family of resorts through a third-party exchange company like Resort Condominiums International (RCI). For more information on this type of exchange, please see "Exchange Company" below.