2016 fee Schedule out yet? - Thread to track increases

[SmithOp]

Hilton has to recoup the cost of replacing Revolution...


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[Jason245]

Hilton has to recoup the cost of replacing Revolution...


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On the bright side. .now there will be three online reservation systems that probably don't work. .. and 7k point packages will probably only cost 1k or so in a couple of years. .

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[dsmrp]

Per a conversation I just had on the phone with HGVC, Fees for Phone changable reservation are going to be $107 (from $99) and web reservation $55 (from $52).

They also told me that the New site is supposed to be up in March (they said 2016... but given their history... I am guessing closer to 2026)

I made my first online reservation a couple of days ago for Sept 2016.
Can't quite remember, but I think they charged the $52 2015 fee.

Just found out the 2016 Activation fee will be $535, its currently $315.

I'm glad got my unit into network this year rather than waiting. I was afraid HGVC would change the rules, but wasn't thinking as much about the fees.

 

[onenotesamba]

So, I've got a sale pending, and the closing agent tells me that I'm likely to hear in the next couple of days on ROFR, but that after that it can take a few-to-maybe-several weeks for Hilton to make the transfer.

Does that mean that I'll have to pay a higher fee if Hilton drags their heels to process my purchase?

 

[night0wl]

Does anyone know Valdoro's fees now?

 

[GregT]

So....if we don't like the fee increases, we should sell. There really is no point in complaining about the (ever-increasing) fee increases.

I do not object to the fee increases noted thus far, as they are manageable and the HGVC timeshare system is very very valuable to me. So I understand if HGVC is looking at what the competitors are doing and pricing their system accordingly.

That's good business for them, and I understand it is costing me money.

So.....if we don't like the fee increases (or can't afford them), we should sell. I will continue to buy as I think HGVC is a fantastic system with great properties.

Best,

Greg

 

[Jason245]

So....if we don't like the fee increases, we should sell. There really is no point in complaining about the (ever-increasing) fee increases.

I do not object to the fee increases noted thus far, as they are manageable and the HGVC timeshare system is very very valuable to me. So I understand if HGVC is looking at what the competitors are doing and pricing their system accordingly.

That's good business for them, and I understand it is costing me money.

So.....if we don't like the fee increases (or can't afford them), we should sell. I will continue to buy as I think HGVC is a fantastic system with great properties.

Best,

Greg

If you don't voice your disatisfaction they will never know you are disatisfied.

I don't know if it makes sense to sell if you don't like the fee increases. . I think it is just important to be cognizant of them so that you can make good decisions.

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[presley]

So, I've got a sale pending, and the closing agent tells me that I'm likely to hear in the next couple of days on ROFR, but that after that it can take a few-to-maybe-several weeks for Hilton to make the transfer.

Does that mean that I'll have to pay a higher fee if Hilton drags their heels to process my purchase?

No. You won't pay anything additional. If Hilton exercises ROFR, you'll get all your money back.

 

[seagila]

No. You won't pay anything additional. If Hilton exercises ROFR, you'll get all your money back.

I think onenotesamba is asking whether a resale process that started in 2015 and is completed in 2016 will be charged the 2015 Activation Fee of $315 or the 2016 Activation Fee of $535. I'm curious to find out myself, although it would seem likely that HGVC charges the 2016 rate if they activate the interval in 2016.

 

[Helios]

I think onenotesamba is asking whether a resale process that started in 2015 and is completed in 2016 will be charged the 2015 Activation Fee of $315 or the 2016 Activation Fee of $535. I'm curious to find out myself, although it would seem likely that HGVC charges the 2016 rate if they activate the interval in 2016.

I am on the same boat. My process started in September, Hilton never cleared the mortgage lien from the previous owner and doing so is taking several weeks. Closing should happen anytime now. I am thinking they will get me with the new 2016 activation fee.

 

[SmithOp]

My agent is requesting they close escrow by Dec 30 before the fee goes up, we'll see if they are successful. I'm wiring the final payment amount on 17th.


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[onenotesamba]

So, I talked to the closers of my (first ever) purchase, and they acknowledged the increase in transfer fee, but said that until we get cleared on ROFL/estoppel, there's not a whole lot we can do to push it through.

Any thoughts about pushing back on the transfer fee increase, when the transaction was initiated in the prior year?

 

[brettskyg]

I am in contract to close on two separate deals. I am furious reading this as both deals advertised 315 with no contingencies made for a change in activation fee. feels like bait and switch to nearly double the activation fee, after i signed the contract. I told both of my sellers that they will have to pay the difference or I wont close.

 

[Jason245]

I am in contract to close on two separate deals. I am furious reading this as both deals advertised 315 with no contingencies made for a change in activation fee. feels like bait and switch to nearly double the activation fee, after i signed the contract. I told both of my sellers that they will have to pay the difference or I wont close.

Seriously? Did you not buy towards the end of the year knowing that hgvc new fee schedule comes out every year in January? How was the closing company supposed to know before they released that fees were going ? If you are mad about fee increases now..just wait till you see what is comming.

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[frank808]

I am in contract to close on two separate deals. I am furious reading this as both deals advertised 315 with no contingencies made for a change in activation fee. feels like bait and switch to nearly double the activation fee, after i signed the contract. I told both of my sellers that they will have to pay the difference or I wont close.

Another point is this money does not goto the seller. It is what HGVC is charging. There is no way that the seller would have known what the fee would be. Get used to fees going up everyear with hgvc.

 

[brettskyg]

Another point is this money does not goto the seller. It is what HGVC is charging. There is no way that the seller would have known what the fee would be. Get used to fees going up everyear with hgvc.

I understand, but they made a representation (in both cases) in both the advertisement and in the contract as per the activation fee. All they had to do was say this this an estimated value and is subject to change by Hilton.

The first one passes ROFR and the deed was being prepared yesterday. Maybe there is a chance I close before the end of the year. The 2nd one hasn't passed ROFR yet to my knowledge.

If the fee increase was a little bit, then ok I would deal with it, but this is robbery. Hell, I think a reservation fee is robbery too. I know that these are resorts with added amenities, but what is bothering me is the daily night stays on the hilton website seem to not give us too much of a discount in most cases based on all of our fees for staying there. Of course in theory paid stays should be used to keep the maintenance fees down as an offset but who the hell knows.

 

[brettskyg]

Another point is this money does not goto the seller. It is what HGVC is charging. There is no way that the seller would have known what the fee would be. Get used to fees going up everyear with hgvc.

Lets say they raised the fee to $100,000. Would that change your mind? They shouldn't subject contracts that have already submitted for ROFR to these new fees.

 

[frank808]

I would pay $100,000 if the purchase was worth it to me.
I definitely would not pay $100,000 for a $1000 purchase.

If not I would just lose my deposit and say goodbye to it. I would not expect the seller to pay for something out of their control though.

 

[SmithOp]

.



If the fee increase was a little bit, then ok I would deal with it, but this is robbery. Hell, I think a reservation fee is robbery too.

You should consider backing out of these purchases if it bothers you this much. Just wait until you are sitting by the pool at Hilton Hawaiian Village and they charge $12 for a cocktail after paying $35 to park your car.


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[presley]

I am in contract to close on two separate deals. I am furious reading this as both deals advertised 315 with no contingencies made for a change in activation fee. feels like bait and switch to nearly double the activation fee, after i signed the contract. I told both of my sellers that they will have to pay the difference or I wont close.

In that case, it sounds like you don't really want to own HGVC. Every contract going forward will carry the new fees. It is an expensive system to own. I always try to tell newbies about that before they buy. I think most of them don't believe me.

Like all non-necessities in life, you have to decide what things are worth to you. I don't put $ values on stuff like vacations. Either I enjoy my vacations or I don't. If it's a matter of you don't have the extra money for the closing process, consider yourself lucky to get out now. Timeshares are a money pit.

 

[brettskyg]

In that case, it sounds like you don't really want to own HGVC. Every contract going forward will carry the new fees. It is an expensive system to own. I always try to tell newbies about that before they buy. I think most of them don't believe me.

Like all non-necessities in life, you have to decide what things are worth to you. I don't put $ values on stuff like vacations. Either I enjoy my vacations or I don't. If it's a matter of you don't have the extra money for the closing process, consider yourself lucky to get out now. Timeshares are a money pit.

I understand what you are all saying, but at the same time it is inherently unfair to execute a contract submit it to Hilton, and then after it is submitted, and all parties agree to the deal, to then turn around and have one of those parties (hilton) change their fees. I can afford the added fee. However, don't you think that these fees should be published about 3 months prior to the end of the year so that potential new owners will be put on fair notice to make an educated decision regarding their purchase?

As far as parking fees, cocktail fees, etc, these are expected and known when you travel anywhere, not just within the hilton system. However when my contract clearly states a specific fee, and hilton has the contract in their hand, it is ridiculous to say that I should now be the one to eat it. Hilton should not be charging this to contracts that were sent to them for ROFL before Jan 1, period.

 

[SmithOp]

Hilton is not a party on your contract, its between buyer and seller. There should probably be a clause in the sales contract that covers unexpected fee increases.


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[Jason245]

I understand what you are all saying, but at the same time it is inherently unfair to execute a contract submit it to Hilton, and then after it is submitted, and all parties agree to the deal, to then turn around and have one of those parties (hilton) change their fees. I can afford the added fee. However, don't you think that these fees should be published about 3 months prior to the end of the year so that potential new owners will be put on fair notice to make an educated decision regarding their purchase?

As far as parking fees, cocktail fees, etc, these are expected and known when you travel anywhere, not just within the hilton system. However when my contract clearly states a specific fee, and hilton has the contract in their hand, it is ridiculous to say that I should now be the one to eat it. Hilton should not be charging this to contracts that were sent to them for ROFL before Jan 1, period.

Life isn't fair, santaclaus doesn't exist and those arnt jelly beans comming out of a rabbits rear end just cause it is Easter.

Do fee increases suck.. of course they do. You are in the midst of buying something for 10s of thousands less than the original owner paid. If that 250 makes the real difference in your transaction then you had a bad deal as soon as you signed on the dotted line. This is why I believe in paying next to nothing for my contracts..at that point 500 bucks becomes a sunk buy in fee and you accept it.

This is hgvc ploy to make money from resale transactions. It sux, helps to kill resale market, and keeps money in their hands.. I expect most contract values to drop another 300 bucks in value next year. Pretty soon those 7k contracts will be free on ebay with a 1k transfer. If you don't like that reality, buy DVC. .fees have been pretty consistent there..

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[brettskyg]

This is not a matter of life being fair. I am not sure how to make this any more clear. If Hilton unilaterally decided to destroy the possibility of a re-sale, and make the fee $1,000,000 after the contract was executed, would the purchaser be forced to lose their deposit? Shoudl the Seller bare the loss and return the deposit? For that matter is it right for a Seller who bought into this program with all expectations of being able to transfer his unit to another party to release his liability of MF's, now be stuck with it in perpetuity? Yes, I am being extreme, but it is the exact reason why I am upset. I am in the top 5% of earners in this country and I do it as a single person. I can afford the increased fee. What I have no tolerance for is a system that changes policies midway through the game.

Hilton could have released its new fee structure well in advance so re-sellers could have put purchasers on notice. OR they could say this new fee is not subject to contracts executed before a particular date. Now, as both of my Sellers have told me, they have a SHITSTORM of angry buyers trying to undo contracts and they are trying to accomodate. Yes, maybe the Seller would be best off not specifcying Hilton's fee in the contract which both of my Sellers did. And Yes the Sellers probably should state this fee is subject to change on January 1, but they did not.

In my case, 1 Seller said he will eat the fee, and the other Seller is splitting the fee with me. They are both trying to do the right thing and I highly commend them for a situation which is somewhat out of their control.

Doing this is like parking in a garage when the sign says $20. You come back to the car and they ask you for $50. You say why... the attendant tells you, after you left we changed the sign and you now owe us for the new price.

It is as clear as this. How many of you would still feel the same way that you do now if the Fee was 1M, and not 595?

Yes, we all get it, we are buying this at a mass discount. I would argue that we are paying market value and Hilton sells it at an extraordinary markup (as is their perogative) as a seller. I did not purchase this as a $30K unit, I purchased this as a $1k unit. Thereforew when you say that I shouldn't buy what I cannot afford... that is so disengenuous. I bought what I can afford, with MF's that work for me, at a destination that works for me.

If you still think Hilton is right in doing this, then you should go interview for a job in their PR department.

 

[presley]

If you still think Hilton is right in doing this, then you should go interview for a job in their PR department.

I don't know that anyone thinks this is right. I can tell you from my personal experience that this is par for the course with HGVC. They will always increase rates/fees without adequate notice and many times at amounts that are nothing less than shocking. It is what they do. That leaves us all a choice. We can do business with them or not.