So instead of a traditional timeshare set-up where you buy a week or two at a resort, we buy a number of points. You get that many points each year to use to book nights of your choice where you would like to stay.
Each room-type / category at a resort will “cost” so many points per night depending on when you go.
A 1-bed lake view at BLT may cost 35 points a night in July or 50 points a night over New Year. A studio, same category may cost 18 points in July and 26 points over New Year. The bungalows at the Poly cost a gazillion points for any night.
You can book at your ‘home resort’ at 11 months out, or wait until 7 months out and use your points at any other resort.