I Purchased a timeshare at The Ridge at Tahoe approximately 15 years ago. Holiday Inn vacation club purchased the resort from resorts West about five years ago. Every time I stay at the resort, they want me to sit for a an owner’s briefing about all the new upgrades added to the resort. During this presentation, they try to sell membership into the club. They claim my unit is currently worth 180,000 points. Their asking $10000 to convert my 180000 points it to a club membership along with an additional 40000 points. Does this seem reasonable?
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Conversion of time share into holiday inn vacation club membership.
- Thread starter Jdabigsky
- Start date
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- Dec 19, 2008
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- Maryland
- Resorts Owned
- A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
Do you want to regularly stay at other HICV properties? if you do, you would have more reliable inventory if you are willing to book at 10 months plus more overall inventory closer in vs rci. The booking fee would be something like $65 vs the $309 exchange fee through rci or the $239 through interval. I am not sure if you currently use rci or II. Your MF's are going to go up about $500 for those extra 40,000 points plus you will have an annual membership dues. I don't know what they are but I am going to guess around $200. I don't think it would be worth it for single week stay somewhere but you could probably do 12-15 weekday stay broken into 3 or 4 separate bookings and can bank and borrow. You would be gaining flexiblity but only you can say if that is worth it to you. If you really don't like or the other hicv locations aren't convenient then I would definately not pay to convert. Also are they taking your unit back and then giving you 210,000 trust points. If that is the case vs converting your unit and selling you an additional 40k package, your MF's could increase significantly.
They claim I would keep the deed, I currently have and would receive approximately 220,000 points annually. They also claim that these points are good with RCI and II properties. Do you think the $10,000 for this club membershipis worth it. Thanks for the response.
- Joined
- Dec 19, 2008
- Messages
- 16,243
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- 4,827
- Location
- Maryland
- Resorts Owned
- A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
I do not but mainly because I don't have a burning desire to regularly exchange into HICV resorts. If you did then it might be worth it for you.
Did you buy and are deciding whether to keep it or just thinking about it? It doesn't matter what they claim, if you are purchasing it matters what the contract says. What do you currently pay for your annual MF's?
Did you buy and are deciding whether to keep it or just thinking about it? It doesn't matter what they claim, if you are purchasing it matters what the contract says. What do you currently pay for your annual MF's?
$1800 annually. He had the RCI books and interval internationals. He stated I could use my points to book anything in there by paying a small fee for the exchange.
- Joined
- Dec 19, 2008
- Messages
- 16,243
- Reaction score
- 4,827
- Location
- Maryland
- Resorts Owned
- A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
That isn't the way exchanges work. Do you belong to II or rci now? The small exchange fee if what you want is available and you have enough points is $309 for the week. With Interval it is $239 for the week if you have enough points and if the unit you want is available. There are some resorts in the those books that may get a dozen deposits per year and 2000+ requests. There are some resorts in that book that haven't had any deposits most years.
Which section and which week/season and unit type do you own. I don't see any that are listed as 180k in the member guide.
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im not sure holiday inn sells anything worth paying 10,000 upfront for.
you can still buy hicv points on the resale market at the 3 resorts where those points transfer to the resale buyer for FAR less money!
tell them youd be happy to convert your legacy week to 220k annual points as long as it doesnt cost you any money! (assuming you both want to get rid of your ridge tahoe timeshare, AND own hicv points)
you can still buy hicv points on the resale market at the 3 resorts where those points transfer to the resale buyer for FAR less money!
tell them youd be happy to convert your legacy week to 220k annual points as long as it doesnt cost you any money! (assuming you both want to get rid of your ridge tahoe timeshare, AND own hicv points)