Group RCI
Group RCI (formerly, Resort Condominiums International) is a division of the firm Wyndham Worldwide (previously 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 4,000 affiliated resorts in over 100 countries around the world [1]. Its membership base is approximately 3.6 million members worldwide. RCI operates two main exchange programs - RCI Weeks and RCI Points.
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[edit] Corporate structure
RCI's CEO and president is Geoffrey A. Ballotti. RCI's corporate headquarters is located in Parsippany, New Jersey. Its North American membership office is located in Indianapolis, Indiana and European membership office is located in Kettering, England, with several satellite servicing offices around world (i.e. Saint John, Mexico City, Cork, Ireland, Manila, Philippines , Bangalore, India, Singapore, Singapore, Dubai, United Arab Emirates, Montevideo, Uruguay) etc.
Currently, RCI's biggest competitors in the timeshare market are Interval International [2] and Trading Places International [3].
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.
[edit] 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. 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.
Although RCI does not develop or sell timehares, it does sell Points Program to use in the RCI affiliate resorts network. More information about the Points 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.
[edit] Litigation
A class action lawsuit is currently pending against RCI, being led by Green Welling LLP. The Plaintiff alleges 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.[4]
[edit] Awards
Jeff Parker, on behalf of Group RCI, won the "ACE" employee award in 2007 from the American Resort Development Association.[5]
[edit] References
[edit] External links
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