PARSIPPANY, N.J. - RCI, part of the Wyndham Worldwide family of brands, 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."