A term referring to booking at a resort within your resort network, that does not incur a trading fee because a trading company is not utilized.
A good example of internal exchange would be with HGVC, you utilize points to reserve vacation time at other resorts that are affiliated with HGVC even though you are deeded to a home resort. You won’t pay any trading fee to book outside of your home resort your deeded season, but there may be limitations to booking. Hilton allows owners to book their home resort 13 months in advance, but other resorts in the network 9 months in advance. Keep in mind, all vacation clubs operate differently.
This concept has gained popularity in recent years has become a common way for points-based ownerships to offer more flexibility than just being deeded to one week number at one resort.