RCI Announces Agreement to Acquire DAE
PARSIPPANY, N.J., Aug. 8, 2017 /PRNewswire/ — RCI, part of the Wyndham Worldwide family of brands (NYSE: WYN), has reached an agreement with vacation group Beneficium to acquire DAE Global Pty Ltd. (DAE), operator of Dial An Exchange, a leading timeshare exchange company headquartered in Australia, and @Work International, a software company also based in Australia. The deal is subject to customary conditions precedent, including receipt of applicable regulatory approval. DAE’s offices in Australia, New Zealand, US and Egypt will become part of RCI upon completion of the acquisition. The addition of DAE will complement RCI’s existing business, broaden its appeal to a new base of travelers and strengthen its position as a leader within the global alternative holiday accommodation sector.
«Since first pioneering the vacation exchange concept more than 40 years ago, RCI has continually found new ways to evolve and grow its own business while also propelling the exchange industry forward,» said Gordon Gurnik, president of RCI. «Through this acquisition we will expand the exchange and holiday options we offer travelers, increase the technology capabilities we provide to our resort partners and strengthen our footprint in key growth markets across the globe.»
As part of the RCI family of brands, DAE will benefit from the core competencies RCI has developed over the past four decades as the leader in vacation exchange, including inventory management, member marketing and analytics. The company will also enjoy the added resources that come with being part of a global hospitality leader. DAE, which has established a strong loyal consumer base, will continue to run as an independent brand and be marketed separately from RCI. However, the similarities among these exchange-oriented businesses will allow for greater collaboration between the companies to foster growth.
Founded in 1997 and celebrating its 20th anniversary, DAE offers a direct-to-member exchange model globally through a combination of corporate-owned operations, joint ventures and licensed entities. The acquisition of DAE will expand RCI’s exchange offerings to reach a new pool of timeshare owners. The addition of @Work International, which develops exchange management and reservation management software programs, will allow RCI to bolster the technology solutions it can offer its Homeowner Association (HOA) and affiliated resort partners.
DAE will continue to be led by co-founder Francis Taylor as managing director while Peter Vanderhorst will continue to serve as managing director and lead @Work.
«This will provide DAE with the resources it needs to fulfill its ultimate potential,» said Taylor. «It’s a great opportunity for the company and its dedicated staff around the world.»
RCI is the worldwide leader in vacation exchange with over 4,300 affiliated resorts in nearly 110 countries. RCI pioneered the concept of vacation exchange in 1974, offering members increased flexibility and versatility with their vacation ownership experience. Today, through the RCI Weeks® program, the week-for-week exchange system, and the RCI Points® program, the industry’s first global points-based exchange system, RCI provides flexible vacation options to its 3.8 million RCI® subscribing members each year. RCI’s luxury exchange program, The Registry Collection® program, is the world’s largest program of its kind with approximately 200 affiliated properties either accessible for exchange or under development on six continents. RCI is part of Wyndham Destination Network and the Wyndham Worldwide family of brands (NYSE: WYN). For additional information visit our media center or rciaffiliates.com. RCI also can be found on Facebook, Instagram, YouTube and Twitter.
Founded in Australia in 1997, DAE has been the pioneer of the direct-to-consumer model of vacation exchange. Today, it is the largest global operator in this field worldwide, with 11 offices located across North America, UK, Europe, Asia Pacific, South Africa and the Middle East.
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