Timeshare Exchanges and Timeshare Exchange Companies such as RCI - How Do They Work?

Transcript:

Steve Luba - When we are talking about an exchange system, how does that really work?

Jason Tremblay - There's really two basic types of exchanges; one is through the internal resort brand or resort chain. Many, many resort properties: Marriott, Westin and many, many others- have multiple properties so most resort brands will offer an internal exchange program. For example, if you buy a timeshare at the Marriott Grande Vista, Marriott will offer different ways to trade that Marriott Grande Vista week in Orlando, Florida for a different week at a different Marriott property at a different venue. There is also what is called an external exchange. What that means is there are a number of actual exchange companies, the two biggest are RCI and Interval International. What they are able to do is if you purchase a membership at these exchange companies you can do what they call a space bank. You can deposit your week into their overall inventory of weeks and then exchange it for another week that somebody else has deposited. So let's say, for example, that you aren't going to use that Marriott Grande Vista timeshare in Orlando, you want to go to Europe, the cool thing is, somebody in Europe wants to go to Orlando. That's how it works, you deposit a week, they deposit a week, and then RCI or Interval International or one of the other smaller exchange companies will then facilitate that trade. If your favorite vacation destination is the Wisconsin Dells in the off season, because it's nice and quiet and relaxing, and you don't like to travel to other destinations, then you should purchase that timeshare. You will probably get a good deal on one. If your goal is to spend every other year at the Wisconsin Dells and then the years you don't spend there, travel to places like Paris or Maui, it's really not likely that you are going to have any trading power at all. So, that is something you need to consider.

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