Press Release
October 12, 2001
PARSIPPANY, NJ -- Resort Condominiums International, LLC (RCI) and The Geo Group, one of Canada's largest timeshare
developers, yesterday announced an agreement to affiliate GeoHoliday, The Geo Group's multi-destination points-based
vacation club, with RCI Points, RCI's worldwide points-based exchange system.
An RCI affiliate since 1988, GeoHoliday is a timeshare vacation club in which consumers pay a one-time fee to purchase
"credits" that are made available each year for a term of 45 years, as compared with traditional timeshare
where consumers typically purchase deeded weeklong ownership interests in resorts. GeoHoliday credits can be redeemed
each year for a variety of vacation choices providing consumers with tremendous flexibility in the selection of
resorts, types of accommodations, time of year and length of stay within the GeoHoliday resort network.
Through this agreement, in addition to the many benefits offered by the GeoHoliday club, its members will now have
the option to upgrade their external exchange service from RCI Weeks to RCI Points, and enjoy greater flexibility
and an expanded selection of resorts, types of accommodations and length of stay. RCI Points can also be exchanged
for airfare, rental cars, hotel stays, cruises, golf outings and European country cottages. Members of RCI Points
who own at other resorts will now be able to use their points to vacation at some of The Geo Group's outstanding
resorts, many of which have earned RCI Gold Crown status representing the highest in resort quality.
"Our mission, as Canada's premiere vacation ownership club, is always to strive to exceed our customers expectations,"
said Alex E. Burstein, CEO of The Geo Group. "We believe our GeoHoliday club members will be delighted with
the added flexibility and products with RCI Points as our external exchange program."
"The Geo Group's beautiful resorts and world-class amenities will be immediately popular with RCI Points members,"
said Steven C. Marks, president, RCI Canada. "We are thrilled to be able to offer the only worldwide points-based
exchange system to their club members."
Four RCI Gold Crown Resorts are included among the properties that The Geo Group currently provides its members:
Scottsdale Camelback Resort, Scottsdale, Arizona; Club GeoPremiere, St. Hippolyte, Quebec; Grangefield Oasis Club,
Mijas Costa, Spain; and Trenython Manor and Country Club, Cornwall, England. In addition, RCI Points has added
two RCI Resorts of International Distinction: Guana Bay Beach, St. Marteen and Tahoe Summit Village, Lake Tahoe,
Nevada. World-class GeoGroup resorts offered in other regions include: Turtle Reef Club, Jensen Beach, Florida;
Wynnwood Townhomes, San Antonio, Texas; Pueblo Real, Costa Rica; Playa Suites, Acapulco, Mexico; Piramides Cancún
Beach Resort, Cancún, Mexico; Hever Golf and Country Club Hotel, Kent, England; and Ubin Lagoon Resort,
Singapore.
What sets GeoHoliday apart is its unique Holiday Credits System that successfully combines simplicity, flexibility,
choice and value. The Club automatically deposits a pre-determined quantity of GeoHoliday Credits into the member's
account each year (based on the level of membership purchased). The member then simply withdraws the quantity of
credits required to access the vacations they desire. The credit values assigned to each vacation experience are
all pre-determined by the elected and appointed member's committee and are based on the size of accommodations
they request, the location of the property and the seasonal demand for the accommodations.
About The Geo Group
The Geo Group of Companies is a multi-faceted organization dedicated to providing a comprehensive range of products
and services to its international consumer base. Primarily involved in the development, management and sale of
leisure products and properties, 17 years of award-winning success have encouraged The Geo Group to continue its
expansion into finance, marketing infrastructures and international trade sectors.
Geo was one of the first organizations in the world to embrace the 'vacation club' system and is widely recognized
as one of the leaders in the global vacation ownership industry. The Geo Group and its marketing partners have
successfully introduced over 10,000 member families to its program and now facilitates over 50,000 vacations per
year. All Geo members' vacations are custom-designed and personally arranged by a team of professional vacation
counselors utilizing the industry's most sophisticated computer network.
About RCI
Resort Condominiums International, LLC (RCI) is the world's leading global provider of products and services to
the timeshare industry, with more than 3,700 affiliated resorts in 100 countries. In pursuit of its mission to
be the market maker in global travel and leisure, RCI offers the world's leading timeshare exchange services through
RCI Points, the first worldwide points-based exchange system, and RCI Weeks, RCI's traditional week-for-week exchange
system. Last year, more than 2 million exchanges were confirmed through RCI, sending an estimated 7.5 million people
on vacation. RCI provides integrated timeshare solutions in addition to exchange through RCI Market Links, including
consulting, travel agency and technological support. To learn more, please visit our Web site at RCI.com <http://www.RCI.com>. RCI is owned by Cendant Corporation (NYSE: CD), a global
provider of business and consumer services.
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Media Contact:
Inna Shamis 973-496-7021 inna.shamis@cendant.com