Is there a word which means that ownership rotates or moves around a known set of options? For example, the Olympics is host by a different nation each time, or it is ____?____.

The only thing I can think of is something derived from ["round-robin" which is a way of rotating ownership of tasks for scheduling in Computer Science][1],
 but I don't think that is a universally understood term.

  [1]: http://en.wikipedia.org/wiki/Round-robin_scheduling