rci

[manutd2465]

My mother in law has just come back from Cyprus, she is going on about a company called RCI, ho operate a holiday club, it is similar to the ill fated time share operation, was wondering if anyone has had any dealings with them, and if everything is as good as it seems.

[buildersmate]

RCI is a holiday exchange company - a big American one. It does not, so far as I know, operate timeshare resorts itself. What it does operate is the global exchange mechanism by which timeshare owners can exchange their resort for another. When the market started to falter about ten years ago it then 'invented' RCI Points - a device where you purchased a right to occupy a resort on procurement of a number of points, for which you pay an annual maintenance fee - even though you do not own any bricks and mortar anywhere. Do not, I repeat, do not, consider buying NEW timeshare anywhere. There is a glut of the stuff and if you really want timeshare then buy a secondhand Unit at rock-bottom prices. But I don't even recommend doing that. Buying it commits you long term to paying some form of maintenance cost, over which most resort owners have little control of the costs.
It is possible to make timeshare work for you (and I consider myself one of those who has done just that over the years). But the market has reached the end of its golden period.

[dzug]

One definition of a Holiday Club is a scheme whereby you pay megabucks up front plus an annual fee for the right to buy holidays at a greater price than you could find them in a travel agent.

RCI are perhaps more reputable than most (but it depends how you buy in - there are many rogues peddling RCI) but it isn't really the good idea it sounds.

[welshlibranr]

I agree with the previous posts, I have experience of the way RCI operate......don't do it!!!

[KARL]

RCI is a business and not a league of angels. That said, in my opinion they are perfectly reasonable so long as you ensure you understand how they operate to the rules they lay down quite openly before you join. The description by buildersmate is correct and the advice given is sound. Pure points are the worst option going, a timeshare slot based on property (preferably largely in control of the timeshare owners collectively) is however well worth it - provided you buy at current re-sale (second hand) market value. Use your timeshare to join RCI either on weeks or on points (your choice, do your research). Yes, you have to pay maintenance for that unit every year, but you don't have to take an annual holiday, just on average every year without losing any of your paid for time. consider it like Christmas club savings in nature except the basic unit is always there as the core "investment" and the holidays are the paid up dividend. You can take very cheap extra holidays offered from time to time so long as you are available to go as offered. Nothing is free and you can't have everything your way to your whim - you need to think well ahead. But you can have good accommodation and facilities in lots of locations for what amounts to a good price - not for free, and only as far as availability goes. Is that not enough to consider it ? It is true there are rogues aplenty leeching off this market as unfortunately almost at every turn in life - just be sensible and careful. Don't be rushed into anything, there is no such thing as last chance to make your decision in this area, unless your money is about to evaporate or spontaneously combust. There are bad car salesmen and there are bad timeshare salesmen.

[KARL]

Just to clarify something: RCI do not run any resorts but they actually buy into them in the same way as you or I might, except on a much bigger scale. They own unit-week-rights in blocks in many resorts worldwide and make them available to exchangees, etc. - that is part of the inventory they have access to in order to facilitate variety for members. As for points, RCI were certainly not the first to introduce the concept which has some interesting merits but is not a utopian solution. Points were for example in use in South Africa quite a few years before RCI rolled their scheme out, by which time RCI had bought a South African points company. It might perhaps be argued that they stole the idea, but not that they initiated it.