to book rooms via the Marriot.com website and retaining integration with the Marriott Bonvoy loyalty program. In 2016, Marriott Vacation Club introduced the Marriott Vacation Club Pulse brand. These properties, set in urban locations, are designed for shorter stays. The brand launched with locations in New York City, San Diego, South Beach, Washington, DC and Boston. As of 2018, Marriott Vacation Club is one of 4 brands that includes Marriott Vacation Club Pulse, The Ritz-Carlton Destination Club and Grand Residences by Marriott. There are around 70 Marriott Vacation Club branded resorts throughout the world, including three resorts in Spain (Costa del Sol, Mallorca and Marbella) one in France (near Paris) and three in Thailand (one in Bangkok and two in Phuket). Owners are able to exchange into other locations through the use of Interval International, a timeshare exchange company with over 3,000 resorts. Uniquely, owners may also exchange their ownership week into Marriott Rewards Points which then may be redeemed for stays at Marriott hotel properties or for travel activities such as cruises and guided tours with affiliated partners. Structure Originally, Marriott Vacation Club properties were sold as weeks. A "fixed week" granted the owner the right to use their villa during a specific week each year (such as week 52, which includes New Year's Eve), or the right to use their villa during a specific "season" (defined on a per-resort basis), which granted the owner the right to reserve their villa for any available week within that season. Weeks at some properties could be split, enabling a non-consecutive four-night stay and three-night stay. Weeks could be exchanged for Marriott Rewards (now Marriott Bonvoy) points. Finally, owners of multi-room villas, such as a two-bedroom lockoff, could split the unit itself and book each half as a separate reservation. Notably, owners cannot reserve villas at other properties without exchanging them through Interval International (II). "Weeks owners," as they are called, pay annual maintenance fees that cover maintenance and refurbishment at the resort. The Marriott Vacation Club Destinations program changed this structure. Owners now purchase points at a particular property, which can be "spent" to reserve a villa for a given number of nights during a given season. Villa "pricing," in points, differs based on the size of the unit and the season. Points can also be used to reserve villas at other properties, without having to exchange through II. "Points owners,"