At my education session one of the Owners asked “what does RCI stand for”??
Rich Charismatic Individual… Yes please.
There is just so much to know about RCI and so many little tips and pointers we discuss in our education sessions that I thought I would share some of the most important things.
What is RCI?
RCI actually stands for Resort Condominiums International – Great Name! But what does it actually mean?
It really is so important to understand what RCI actually is, to be successful using them.
So I repeat what is RCI? RCI is a Membership based timeshare exchange company. In a nutshell RCI has millions of members from all over the world, and they are all Timeshare owners of some description – RCI simply provides a platform for these timeshare owners to EXCHANGE with each other.
Do we all remember traditional timeshare? If you’ve never heard of it then I’ll explain: Traditional timeshare is a week’s based timeshare – Where you would own a specific week of time at a particular resort, and every year you would holiday for that week, at the same resort. Now as you can imagine there is the possibility that you might get a little bored of going to the same place at the same time, year after year.
And BAM! That’s where RCI comes in; they give members the opportunity to deposit their week of time into RCI’s system (known as the Spacebank) and then take someone else’s deposited week of time.
What does this mean for you?
Well firstly RCI has the largest exchange network in the World with around 4,600 affiliated properties in over 100 countries! That means the world is your oyster and you can use your credits as currency to pay for these properties, which is fantastic.
Another added benefit is that Privileges by Wyndham members get a complimentary RCI membership each year as one of their benefits.
Don’t worry if you’re not a Privileges member, you can still join RCI yourself and pay their yearly membership fee.
What else does this mean for you?
- When you are searching for availability with RCI, you are basically hoping someone is sick of their timeshare and will deposit it into RCI’s Spacebank so you can book it. If they don’t deposit it, then it won’t become available. The more options you have, the more likely you will be to find availability.
- RCI properties are nearly always going to be offered as a full week, and generally you will be checking in on a Friday or Saturday as that is how traditional timeshare was usually sold. Also the properties are only available for the specific week deposited. The broader your travel date range is, the more likely you will be to find availability.
- RCI properties can become available any time of any day from 2 years onwards– just because something is not available today, doesn’t mean it won’t be available tomorrow, or in a month, or in 6 months. The earlier you start searching the more likely you will be to find availability.
What should I keep in the back of my mind?
So when you are searching RCI properties it is important to know that you are staying at someone else’s timeshare property – RCI doesn’t have control over the standard, so research the property before you book it, by reading the reviews. You can then be comfortable knowing exactly what you are checking into.
RCI is a membership based company and relies on charging fee’s to run its business and make a profit, therefore there is an exchange fee for every exchange you make (Darn it!!). Currently it is $119 per week for a Pacific Exchange, $229 per week for an international exchange plus a housekeeping token or fee will apply to each booking as well. The housekeeping is your standard WorldMark fee.
Different countries have different fee structures surrounding their holiday accommodation, RCI will advise if there are any additional adhoc fee’s or charges when staying with them, such as electricity charges or additional cleaning fee’s.
RCI is just such a big subject – so keep your eyes peeled as I will post additional blogs covering more of the ins and outs of getting the most out of RCI. In the meantime here is a fantastic website you can look on to learn more about RCI and how it benefits you as a WorldMark South Pacific Club Owner.