It's not so much that the Abound Exchange Program "can be likened" to an external exchange program as it is that Marriott/Vistana has laid out the eligibility requirements and use of it as an external exchange program in the latest revision to the Vistana Network Rules in the recently released document entitled "Vistana Signature Network Disclosure Guide For Mandatory Members of the Vistana Signature Network," Network Guide R-19 (Mandatory Resorts). I've copied the pertinent section below. To me the bottom line is that Marriott/Vistana as the Network Operator can amend the Network Rules without input from the members at any time, but when it does, as the Network Operator, Marriott/Vistana currently has the obligation under those Network Rules to provide notice of the amendment. There are probably some legal aspects of this as a disclosure guide for how the VSN works and how it interacts with the Abound Exchange Program, but Marriott/Vistana say Abound is an external exchange program that each Network Member has access to. Other parts of the disclosure guide cover what it takes to become a Network Member, but none of those parts include the August 9, 2022, date that was announced by email. There is discussion of an enrollment fee and the ability to restrict a Network Member that did not buy from an Approved Broker from having access to "special benefits," but they made the choice to categorize access to Abound as an external exchange program rather than as a special benefit.
I completely agree that Marriott/Vistana is not mandated to implement rules and entitlements for exchange companies. The part that I have trouble with is that they did so voluntarily and they should have to follow the rules and entitlements that they have officially promulgated in a disclosure to the public. They continue to have the right to change those rules and entitlements, but I think they could run afoul of some legal requirements as well as consumer expectations if they try to do so in closely guarded rules or something like that, particularly when they contradict what they have disclosed.
V. External Exchange Programs
In order to increase the range of options available to Network Members, Network Operator has made arrangements for each Network Member to have access to the following External Exchange Programs: Interval International (“Interval Exchange Program”) and the Abound Exchange Program. All external exchange requests will be handled by Network Operator and the applicable External Exchange Company provider. A Network Member who is interested in an external exchange must contact Owner Services and indicate the Network Member’s preference for an exchange.
a. For exchanges through the Abound Exchange Program, Owners must follow the Abound Exchange Program Exchange Procedures and exchange Vacation Periods in 7-consecutive evening increments for Exchange Points (as defined in such Exchange Procedures) by the applicable deadlines. Owners of Points-based VOIs in the Flex Vacations Ownership Plan, the Flex Collection Vacation Ownership Plan or the Aventuras Vacation Ownership Plan are able to elect all Home Options assigned to their VOI or may elect in increments of 20,000 Home Options to receive Exchange Points. However, for certain single site points-based plans such as Coral Vista Vacation Ownership Plan, Sunset Bay Vacation Ownership Plan and Nanea Ocean Villas Vacation Ownership Plan, the entire Home Option amount assigned to each VOI must be elected to receive Exchange Points. For exchanges through the Interval Exchange Program, a Network Member may make an external exchange request up to one year in advance of the Network Member’s VOI Use Year, or at any time prior to the end of the Network Member’s Use Year, subject to the limitations in Section 4.7 above. Following verification of the identity of the Network Member and verification that the Network Member is a Network Member In Good Standing, an Owner Services representative will note the Network Member’s desired exchange request including specific time, destination, and type of room type along with any other special requests. The Network Member may also be asked to designate more than one alternative set of exchange requests, in order to increase the Network Member’s chances of getting a desired exchange. Confirmed exchange requests are final transactions. Confirmed Network Member participation in either the Interval Exchange Program or the Abound Exchange Program will be governed by the terms and conditions of the respective External Exchange Program and the following:
(1) In identifying the Network Member’s VOI being assigned for external exchange, the Network Member acknowledges that he/she has relinquished all other use rights for that particular VOI or the designated number of StarOptions or Ownership Points allocated to the VOI.
(2) All rules and regulations that apply to the use of Units and Network facilities by Network Members also will apply to users of such Units and facilities through the External Exchange Program.
(3) Network Members participate in a customized exchange method that is offered by the External Exchange Company to Network Members. As a result, there may be differences in the way Network Members access external exchange benefits from the standard exchange methods that may be generally published by the External Exchange Company to non-Network Members.
(4) With the exception of Vacation Periods reserved at the Home Resort, Network Members are prohibited from renting to a third party any accommodation reserved through the Network’s exchange program, including accommodations of the External Exchange Program.
(5) Availability of accommodations within the External Exchange Program is dependent on the vacation ownership interests from various External Exchange Program member resorts that are deposited into it by other members of the External Exchange Program from time to time. A Network Member can have no assurance that an External Exchange Company will be able to provide the Network Member with an accommodation that meets the Network Member’s needs and desires when the Network Member wants it or at a particular time. The exchange accommodation received may or may not be comparable in size, layout, furnishings, services, or amenities to those in Network Resorts.
b. Network Member participation in the Interval Exchange Program will also be governed by the following:
(1) If a Network Member intends to assign a current or future use year to the Interval Exchange Program, the Network Operator may require the Network Member to pay in advance, at the time of assignment, the Network Member’s total estimated maintenance fees, taxes, and Club Dues for the Use Year being assigned provided that Network Operator shall be obligated to remit such estimated maintenance fees, taxes, and Club Dues to the Home Resort if required by applicable law.
(2) The Interval Exchange Program will charge a Network Member an exchange fee for each confirmed exchange through the Interval Exchange Program.
(3) Each Use Year, a Network Member shall be permitted to request an Interval Exchange Program assignment for each eligible VOI owned by the Network Member, regardless of the number of Vacation Periods such Member may be entitled to reserve in the Network through the use of StarOptions. A Network Member owning a VOI in a Lock-Off Unit may request an exchange assignment for one or both portions of the Lock-Off Unit with the Interval Exchange Program and shall be permitted one external exchange per exchange assignment requested. Reservation requests for any remaining unassigned portion of the Lock-Off Unit will continue to be subject to the Network Reservation Window priorities.
(4) External exchange assignments to the Interval Exchange Program are valid for travel for up to 36 months from January of the Use Year of the assignment. As an example, a Network Member requesting an external exchange assignment in January 2022 may travel on the deposit through December 31, 2024. A Network Member requesting an external exchange assignment in August 2023 may travel on the deposit through December 31, 2025.
(5) External exchange assignments to the Interval Exchange Program may be cancelled no later than December 1st of the occupancy year. A Network Member’s use right will be reinstated based on availability at the time the exchange assignment is cancelled, and a Network Member is not guaranteed availability at the Home Resort or a Network Resort.