As of December 2008, it seems a preliminary settlement has been agreed upon regarding the class action lawsuit - Murillo vs. RCI.  For background on this lawsuit please read the post RCI Class Action Lawsuit, Murillo vs. RCI.  Below you will find the terms and conditions of the settlement benefits in their latest form, which are subject to change.  I will keep this post updated regarding any changes or development in the settlement, and what exactly this could mean for RCI members.  Please scroll to the end of the post to explore how this settlement could effect you, or to post comments regarding this impending legal action.
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1. Direct Exchange

The most basic, and cost-effective, way of exchanging timeshare is owner to owner. This requires finding another timeshare owner willing to exchange their week for yours.  Once an agreement has been made between both parties, you would each notify the resort and obtain a guest pass for the party staying in the timeshare during your scheduled week.  The best ways to find parties interested in direct timeshare exchanges is by using websites like Craigslist, Timex and Timeshare Forums, or using your own personal social networks.

Some resorts offer an exchange program within their particular group of resorts.  There are a number of smaller, independent resorts that take part in this type of program, although it is not always advertised.  Many timeshare management companies will offer this benefit as part of there management services in order to avoid a high turnover rate within their resort.  The fees associated with this type of exchange are usually minimal because you are staying within a select group of accommodations, and tend to cost less than a timeshare exchange company’s fees.

3. Timeshare Exchange Company

Timeshare exchange companies allow you to “bank” your week with them, and in exchange you get to choose from their inventory of weeks that other timeshare owners have banked.  You also have the opportunity to use points within this system, being able to stay at certain locations based on the amount of points you own.  Also, outside resorts will bank there unsold timeshare weeks with exchange companies to increase their inventory. Your week and room size will determine your trading power with the exchange company. The most popular exchange companies are II (Interval International, RCI (Resort Condominiums International), Marriott and Disney.

One way to get the most out of your timeshare is to take advantage of the many special offers your time share exchange company makes available to owners. A great way to get the most for your money is to utilize your exchange group’s available last-minute trip deals. The downside to these deals is that travel can not usually be booked more than a month or two in advance, but the upside is that you will stay in gold star resorts, in amazing locations, for a fraction of the regular cost. Interested in making your timeshare work for you? See the checklist below for more information on booking RCI Escapes.
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Founded in 1974, RCI has been a pioneer of the concept of timeshare exchange vacations. RCI has more than three million members worldwide, who enjoy vacations at RCI’s over 3,700 affiliated resorts. R.C.I. time share owners and resorts are a unique community of travel enthusiasts that value timesharing as a great way to get their money’s worth while traveling. RCI members benefit from the knowledge, experience and resources of RCI’s Guides, who provide assistance in the planning of exchange vacations. RCI provides the opportunity for exchange vacations, which allow members to discover new places and enjoy the freedom of resort vacationing all over the world. RCI is considered within the timeshare industry as the global leader in vacation exchange.
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Many timeshare owners and potential buyers are given misinformation regarding what exactly a timeshare exchange company does for its members, and the benefits of taking part in a traditional exchange program. For example, did you know that as a timeshare owner you have the right to go with any exchange company that deals with your resort? Did you know that there are many small exchange companies out there offering no enrollment dues or exchange fees? I have spoken with many timeshare owners that believed because they signed up for a Resort Condominiums International membership when they first purchased your timeshare, that they needed to conduct all of their future trades through RCI. While I am sure it is lucrative for RCI to convince its members that they need to continue to renew their membership with them, it simply is not true. It is time to separate the facts from fiction and find out the truth about timeshare exchange companies.
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