HICV Conversion of Fixed Weeks to Points

I recently found out from HICV Owner Services that you can only get status when you do a retail purchase - if this is correct, then buying additional units at points resorts would be no better than trading units at RCI Weeks resorts for points through the HICV version of Points for Deposit. As in many timeshare cases, it would all come down to the total maintenance and fee cost of the points.

Since I am interested in Elite status, I've started to think about purchasing 5 fixed weeks worth 200K points each and then doing a retail purchase to convert.

Finally received a call back from HICV regarding bulk conversion - she quoted $8K for 45K points as a "deal" for existing weeks owners ($180/1K points) compared to retail price of $260/1K points. However, she said that you can only convert one fixed week you already own through this process per purchase (updated policy within the last couple of years), and then anything else you purchase in the next 60 days.

If this is the case (can anyone confirm?) seems like the best bet would be to put one fixed week in the name of the main HICV account holder any anything else you want to convert into a family member's name - then you'd have to do deed transfers into your main account after retail purchase.

You' d have to pay an extra set of resort transfer fees, but this seems to be the only way you'd be able to purchase multiple fixed weeks with low maintenance fees on the cheap in a short time and do a single conversion.

-Scott

I don't think this will work. You would need to get the 60 day after sale premise in writing. Additionally it can take more than 60 days to transfer or Holiday Inn could exercise ROFR and take the other deed. It sounds like they aren't going to let you get status through resale without an additional $5000+ for each unit you are bringing in. Tricks that worked in the past may not still apply. Rather than buy several off season studios with fairly high MF/point ratios you might want to see if there are any other options. Without being lucky enough to have purchased resale at a resort that HICV subsequently acquires and offers full conversion for free or at a low cost, the cost to attain status will be in the $25,000-$40,000 range and that includes bring resale purchases in.

The other way I would interpret the 60 days after quote would be that an additional retail purchase within 60 days of the first one would not allow you to bring in any additional units. Basically you can only retro a single unit with a single retail purchase no more than every 60 days.

The lady in sales said that you do get a resale letter valid for 60 days and that they were somewhat flexible on dates if the property transfer hadn't fully completed. I wouldn't really want to test it, but my impression is that as long as you get the paperwork to HICV within 60 days, it didn't have to be fully processed. With 30 days for ROFR, closing within 30 days between me and my wife shouldn't be a big problem.

I thought about ROFR risk, but I don't think it's that big of a deal, since it can be addressed with correct pricing - if I am transferring 5 units for $8K, that's an average transfer cost of $1.6K each. As long as I price my internal sales between me and my wife at $1.6K above what the timeshares cost, HICV can buy them all from me and I come out ahead - I'll just convert 1 for $1600 instead of 5 for $8000, which is what I'd rather do anyway. As long as the initial unit converted has the best maintenance, I'm all set.

I would want to make sure I am understanding correctly and get the details in writing before proceeding, but at a high level, it seems like it would work.

-Scott