Travel Wallet is part of Innovative Holiday Club (IHC) by Club Wyndham, an innovative new vacation club launched in 2020.
The club itself is backed by Wyndham Destinations, the world’s largest vacation ownership and exchange company. It is unique amongst in the vacation ownership market as a club with a 20-year term, meaning members have the opportunity to secure their holidays in the long-term but also secure a beneficial interest once the club has wound up.
The club has been launched in Indonesia, Thailand, China and Japan to date and, despite being new to the market, offers its members thousands of options globally for travel. This is achieved through a series of agreements with:
• Wyndham Destinations clubs, enabling access to more than 150 high quality resorts in Club Wyndham South Pacific, Club Wyndham Asia and WorldMark, The Club in North America
• Exchange giant RCI, offering members a three-year membership included
• Greenland Kang Young Health retreats, providing access to properties across 11 provinces in China
• Wyndham Rewards, enabling members to exchange IHC vacation points for Wyndham Rewards points to use hotel and resort properties worldwide
One of the innovative features of this new vacation club is Travel Wallet, a system exclusively for IHC members giving bonus Travel Cash so they can enhance their membership experience. It works in the same way as a virtual wallet – Travel Cash is deposited into it as a reward and the member can spend it how they choose on services within the club or benefits provided by the club developer.
IHC members can earn Travel Cash for their Travel Wallet by fulfilling some functions as a club member and by helping support the Developer’s sales and marketing efforts. At present, IHC members are rewarded with Travel Cash when they make their first booking – which is designed to drive members to use their vacation ownership – as well as referring friends, telling a story about their experiences for public consumption or for donating books to IHC’s nominated charity. Money is provided in US dollars and rewards can be generous – for example, US$20 for sharing a story of a maximum four paragraphs and US40 for making a first reservation.
Travel Cash can be used to pay for expenses that a member would incur while utilizing their membership, including:
• RCI Exchange fees
• RCI Cash Bonus weeks
• RCI Holiday Rentals
• Future RCI membership fees
• Stays at Greenland resorts
• Levy payments
• Instalment payments
• Wyndham Rewards exchange fees
• At-resort experiences (for example, day spa treatments or dining)
Travel Cash is available for use within two years of issue, after which time it will automatically be used to pay the member’s club levies – meaning it is never lost. It also offers members plenty of flexibility, as it can be transferred to another member or utilized by a member’s guest.
Travel Wallet is a straightforward, innovative feature of the IHC product that offers members a readily understood benefit. Its denomination, Travel Cash, has automatic appeal in that it can be redeemed against fees or expenses that all vacation club members will incur (for example, annual levies). This relevance contrasts with some vacation clubs, where the incentives offered are obscure or outside the bounds of the club product. Travel Cash has the benefit of encouraging consumption of additional services or features within the club, which can help generate more revenue for the club or developer, as well as enhance a member’s appreciation of their membership.
Given the many ways that it can be redeemed, Travel Cash remains relevant across the life of the club term and provides an incentive for any member to promote the club. It is a practical bonus that can appeal to everyone.
Members can see their travel balance in their online account and can easily use the Travel Cash they have by calling Member Services. Incentive values can change and incentives can be provided in exchange for additional functions.
Both IHC and its Travel Wallet feature are innovations in the industry and herald an exciting transformation of vacation ownership products in the marketplace.