By going into NEW businesses (adjacent, please) The example you give is exactly that. But, your original comment:
Ok, then lets take Fujifilm - they saw film was undergoing such a secular decline but realized that photagraphy wasn't and so focused on their camera business. Kodak invented digital cameras but decided to milk film to going out of business. They both were huge in film and cameras.
If we take a step back, RCI is owned by Travel & Leisure (formerly Wyndham Destinations or whatever name they were using), which owns Club Wyndham, Club Wyndham South Pacific, and manages Worldmark, amongst others, all of which operate mini systems. Similarly, Interval International is owned by Marriott Vacations Worldwide, which owns Marriott Vacation Club, Hyatt Vacation Club, Vistana, Ritz-Carlton Destination Club, and St Regis Residence Club, all of which operate mini systems. The extent to which either is incentivized to grow their membership by making more people want to use RCI or II is balanced by the need to make those mini systems more attractive in order to sell ownerships within the mini systems. That motivation is why we see Hilton Grand Vacations acquiring Diamond and Bluegreen, then initiating an expanded mini system (HGVMax) alongside the exchange system that came with Diamond (DeX). With Hilton, I see the HGVMax mini system being pushed more than DeX; I'd personally prefer it the other way around because of the economics of it and the wider availability in DeX as an exchange but don't expect that any time soon.
Yea, I didn't go there because I was figuring that they were still running the exchanges as separate companies, and don't show any signs they're winding either of them down. It's always hard for me to read how much of "independent" but owned companies are run as independent. I.e. - does Wyndham run RCI specifically to improve Wyndham sales, or to take income off the profits, or how does it mix?
I can't say I've found any that do that - I think I joined one random one that never has anything much in it. Long term it seems like maybe TUG direct exchanges might be best, but I'm not really sure as I haven't tried it. Not really sure how it'd work with many/most of my TS as they're in the Mini systems so I guess I'd have to exchange a club booking. Maybe not 100% kosher with them, but on the order of one or two a year I also kinda doubt they'd crack down on it.
My current favorite one is ThirdHome; all vacation homes typically rented via Airbnb as well as mostly higher-end timeshares/fractional ownerships. TUG direct exchanges have potential but don't seem to have a high enough volume to rely on - I've done one but don't regularly check there. I have exchanged contact info with vacation home owners I've booked through ThirdHome and hope to do some direct exchanges with some of them in the future.
Ahh, I don't think that really competes with RCI though in that it's not (in my understanding, I've never used it) exactly TS / resort focused - it seems more about vacation homes, and the exchange fee makes RCI look like a bargain (I've heard $1,000). I have no idea how much the membership is either. Of course, looking at some of the AirB&B stuff, it still might be a deal if your MFs are low enough.
No, they didn't. They diversified away from PHOTOGRAPHY. A "camera business" wasn't even the issue, either before or after. They made $$ off FILM, not cameras.
Kodak did make the mistake of trying to "milk film". They didn't diversify as quickly or as well as Fujifilm did. I'm not sure what you think you're saying, because Kodak, in fact, poured tons of money into the digital camera world. They had a large market share in that for a short time. But they always lost money in it. 2 problems:
Well, you never really see anything except what you want to see. Of all the S O A P around here, yours has the most extreme case of CONFIRMATION BIAS.
OMG. I did not say TIMESHARES are in secular decline. I said you might want to think about whether RCI's BUSINESS OF EXCHANGING is in secular decline. Notice the 2 differences? Probably not.
LMAO. Wrong again. do you know that both RCI and II are parts of public companies, and big enough parts that they get quantified in 10Qs & 10Ks? Probably not. Nor do you care. You just say what you feel like saying. You just drop the S O A P. Over & over.
Welcome to being wrong again. From MVC's 10Q & 10Ks
I swear you live in a different world.
And they were't even easier and more available in the film world? Come on. Everyone and their brother had film cameras because they were easy to make. And you just outsourced the "hard part" to the film vendors. Sound familiar to your "digital world"? Kodak came up historically on film and cameras. They had the brownie FFS. You're right, they decided to not make any cameras with a competitive moat or ecosystem, relying on film. The closest they came was a very early clone of a Nikon that flopped for various reasons. That was my point. Fujifilm made a number of DSLRs and then MILCs, advancing from their medium format film ones to both the X series cameras and the GFX medium format ones. But sure, tell me Fujifilm isn't in the camera business. I'm hallucinating this page: https://www.fujifilm-x.com/en-us/products/cameras/
Yes, for the mass market. But look up Canon, Sony, Nikon, Fuji - who all make cameras for enthusiasts and pros. My point is that there are different markets, and that Timeshares aren't mass market and never were. Exchanges were less so. As a fricken analogy, one niche market to another seems apt to me.
I don't know why you are so mad about misunderstanding what I'm saying. Kodak made film and cameras. Fujifilm made film and cameras. If you dispute that history IDK what to tell you. Fuji seemed to see that film was dying, and one way they re-aligned their business was making the digital cameras an area to invest in and focus on over film. Kodak did the opposite. I'm saying that sometimes you don't need to create a whole new business if you've got multiple lines of business already.
You don't know what to tell anybody. I didn't dispute it. I said they made money on FILM, not on cameras. I said the analysis has to center on FILM, but you go on and on about cameras.
Wrong. Kodak poured a ton of money into cameras. As I said, they made their PROFITS off the film. Disposable cameras? Just another way to ship you FILM. Go look up Kodaks mkt share in low-end cameras in the late '90s / early '00s. Go look up Kodak's mkt sh in the early days of digital cameras. Kodak sold a huge # of digital cameras, which was a mistake. They lost money on every one.
And yet, Fujifilm DID create multiple "whole new businesses", as std strategy theory says they should. Do some research. Go read the quotes of Fujifilm's CEO, etc
It is as if you're claiming that what saved Fujifilm was making CAMERAS.
Hey AI, what you say bout that?We are too. But getting there thru HGVC as the OP said he is, they are basically either AI or not good.
If timeshares aren't in a secular decline, why would RCIs business be in one? I don't mean RCI doing a bad job of doing business, or having a flawed business model, I mean exchanging timeshares. If you're saying exchanging timeshares is in a secular decline, then as I understand it, HGVC, HGV Max, Wyndham CWS, Wyndham Club Pass, Abound, CV, basically all points systems or mini-systems are in the same market. They're all methods of exchanging timeshares to go to different locations than the one you own at. If that were the case, I'd think ARDA and others would show those systems, or TS in general trending downward as well. I'm excluding trust based systems as those could be argued to be a different business model. I'd bring them back in though because they're all in service of the trend of people wanting to not buy a TS locked in to a specific location, unit and week.
Why would I care about stock market stuff? I know plenty of successful businesses that aren't listed on the stock market. What does that have to do with "there's no business in exchanging Timeshares anymore"? Show me something that says people don't want more options with their TS. Explain why all the sales pitches on "dots on a map" are wrong.
Yes, II isn't getting as many exchanges - but to me all that says is their current model isn't working well. This would be like looking at Audi's and Alfa Romearos SUVs sales and deciding that SUVs (or heck, passenger vehicles) are in a secular decline.Welcome to being wrong again. From MVC's 10Q & 10Ks
1Half2025: Interval International management and exchange revenues declined $4 million, or 5%, primarily due to 10% lower exchange transaction volume, partially offset by a 4% increase in average exchange fees.
2024: Interval International management and exchange revenues declined $11 million, or 6%, as a result of 7% lower exchange transaction volume, partially offset by a 4% increase in average exchange fees
2023: Interval International management and exchange revenues declined $5 million or 3%. Exchange transaction volume declined 5% and average revenue per member decreased 1% compared to the prior year
because you're discussing a piece of a public company and "stock mkt stuff" PROVES YOU WRONG. IDK. Maybe that? But at least you're honest about not caring about being accurate. I gotta give you a 
for thatVidanta has started doing bulk deposits into ThirdHome again, where the resort fees are only $42 per day. If you are interested in going to one of those resorts, that’s a better avenue than RCI. You can establish a ThirdHome account with some HGVC resort ownerships, but it is independent and you have to do it on your own separately.