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Shortly after the Bellevue, Washington–
based company started selling traditional
multiweek segments in its first Hawaii resort
in 1974, the founders noticed Europe’s
Hapimag was having success with a points-
based model. They decided to take the leap,
and became the first multisite points-based
club in North America.
In 2003, another major transition took
place when the club’s 30,000 member own-
ers’ association purchased the management
contract for VI resorts and VI–specific assets
from the prior management company,
launching a uniquely successful business
model.
Since then, the owners have managed
their club through an owner-elected board
and a large staff of club employees.
Leadership for the staff is provided by
Vacation Ownership Sales, Inc. (VOS), a pri-
vately held company that also provides
marketing and sales services. All club opera-
tions — including the reservations call center,
IT operations, accounting and financial man-
agement, on-site resort hospitality, and point
sales — are under the control of the board
and the VOS leadership team. The financial
rewards of running the resorts this way,
including all rental income, are used to main-
tain and improve the resort locations.
The results have been spectacular. After
the owners took the reins, the club grew
more than 25 percent in 10 years. With
40,500 voting owners, VI may be the largest
owner-controlled timeshare company in
North America.
Banking on Good Chemistry
“VI has a very complex and fascinating histo-
ry and has made huge strides throughout the
last 10 years, reshaping, re-energizing, and
securing a solid footprint in the industry,”
says Kate Britton, an owner who serves on
the HOA board. “Both the board and the
staff’s main focus is on our owners and their
vacations.”
Britton notes that VI operating costs have
remained at the same level for seven years.
“In addition, to be able to continue to priori-
tize and complete necessary refurbishments
throughout our resorts is very important to
our success and our owner’s satisfaction.”
“There’s a real buy-in that people make to
VI,” says Stuart Allen, general manager of VI
and president of VOS. “Our delinquency rate
is about half the industry average and our
owner utilization rate is higher than the indus-
try average. That tells us the club members
value their membership, because they’re
using it and finding it affordable.”
30
RESORTDEVELOPER.COM
vacation industry review
OCTOBER – DECEMBER 2015
VACATION
INTERNATIONALE
By Joyce Hadley Copeland
The Evolution of an
Industry Points
Pioneer
Vacation Internationale
(VI) has grown very comfortable going
against convention over the past 40 years.
SEA VILLAGE, KONA, HAWAII
OASIS, PALM SPRINGS, CALIFORNIA