|INDIANAPOLIS, April 5, 1999 - Resort Condominiums
International LLC, the world's leading vacation-exchange company, today
announced the release of its 1998 key operating statistics. The statistics
confirm another record-breaking year of growth for RCI. Globally, RCI achieved
increases over 1997 of six percent in resort affiliations and members and
more than three percent growth in vacation exchanges. The company expanded
its operations into new countries with the affiliation of its first resorts
in Pakistan, Sri Lanka, the United Arab Emirates, Syria, Lebanon and El
Salvador. In North America, RCI signed affiliation agreements with 80 new
resort clients, the most ever in a single year.
RCI Global 1998 Key Operating Statistics
(Audited by Deloitte Touche LLP)
RCI 1998 Key Operating Statistics
John Russell, RCI president and CEO of global operations, says, "This
year, as RCI celebrates its 25th anniversary, we feel a tremendous sense
of accomplishment and pride. RCI was incorporated in 1974.
In 1975, the company enrolled its first member and processed the industry's
first vacation exchange. Since then, every succeeding year in RCI's
history has been better than the last in terms of steady, continued growth
and international expansion."
RCI Regional Breakout
(Regional Statistics are Unaudited)
celebrating its 25th anniversary in 1999, is the world's leading timeshare-exchange
company with nearly 3,500 affiliated resorts in more than 90 countries.
In 1998, RCI booked more than 1.8 million exchanges, sending more than
6.5 million people on vacation. As a single-source provider of integrated
timeshare solutions, the company's services include feasibility analysis,
market research, technological support and lead-generation strategies along
with club development and operations. RCI is a subsidiary of Cendant Corp.
Cendant Corporation is a global provider of consumer and
business services. The Company operates in four principal divisions: Travel
Related Services, Real Estate Related Services, Alliance Marketing Related
Services and Other Consumer and Business Services. In Travel Related Services,
Cendant is the leading franchiser of hotels and rental car agencies worldwide;
the largest provider of vacation exchange services; and a leading fleet
management company. In Real Estate Related Services, Cendant is the world's
largest franchiser of residential real estate brokerage offices, a major
provider of mortgage services to consumers and a global leader in corporate
employee relocation. In Alliance Marketing Related Services, Cendant provides
access to insurance, travel, shopping, auto, and other services, primarily
through direct marketing to customers of its affinity partners. Other Consumer
and Business Services include Jackson Hewitt, a leading tax preparation
service franchise system in the US; NCP, the UK's largest private car park
operator; and Green Flag, a leading motorist assistance group in the UK.
Headquartered in New York, NY, the Company has more than 35,000 employees
and operates in over 100 countries.