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Forget Max, new new thing is Trust Points

Eggrollcreative

Eggrollcreative

TUG Member
Joined
Jan 18, 2023
Messages
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185
Resorts Owned
Hilton Grand Vacations Elara, Worldmark, Seagull Beach Club, Vacation Internationale
Just did an update at Elara. Apparently they are pushing people to give up their deeds and just have “trust points.” I walked to the bathroom and heard “trustpoints” about a dozen times as I passed the tables. This feels ominous to me especially since a couple weeks ago guest services passed me on to corporate when I tried to give Redweek permission to confirm my home week and I got quite a tongue lashing for attempting to rent my home week which I read the fine print and it is not against their rules. I’m guessing they are moving everyone to points with carrots and sticks so the home week loop hole will be eliminated. I could be wrong. Also want to note regarding pool at Elara had not a scrap of free shade all day. I had to rent a cabana for $50. Would have been $300 if I weren’t an owner there. Even tables with umbrellas had to be rented. They also close it at 8pm due to Nevada law requiring more lighting. My husband replied hilariously “Im going to write a letter to Hilton that Elara isn’t lighting their pool area enough!” First time I got to use the pool since it’s always closed when we travel there due to the season. Bless their heart at least they do cool it so it was refreshing in the 110 degree heat.
 
Those would be DRI/HVC Trust points since HGVC and HC only have deeds so it sounds like they have a lot of unsold trust points in DRI/HVC that need sold. And to add, since they have a lot of DRI properties that need upgrades to be HVC, they are trying to raise money to pay for it.
 
When a developer liked Hilton or Marriott's improved their acquired substandard resorts to bring these resorts up to their high standards. Is this a tax write off ?

This is still cost effective for the developer.
They do not have to pay for the land cost or the new construction cost of building a whole brand new resort from the ground up. IMHO.
 
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I just had an update at Elara as well- they mentioned to me that the trust structure does indeed get rid of deeds and that the MFs on those would be .25 cents per point. He said trusts won’t be good for owners…but that they’re pushing the trusts because they’ve continued to have growth in membership, but it outpaces the amount of properties available. So, trusts are a way to continue to get customers without having to expand.
 
HaberHGV said:
I just had an update at Elara as well- they mentioned to me that the trust structure does indeed get rid of deeds and that the MFs on those would be .25 cents per point. He said trusts won’t be good for owners…but that they’re pushing the trusts because they’ve continued to have growth in membership, but it outpaces the amount of properties available. So, trusts are a way to continue to get customers without having to expand.
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They must really be pushing DRI/HVC then since there isn't a HGVC/HC trust. This slide is from the June HGV investor meeting, https://s27.q4cdn.com/757306400/files/doc_presentations/HGV-Overview-Deck-June-2023.pdf

1688937935899.png
 
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dioxide45 said:
Perhaps for owners of HVC/DRI that tour in Vegas, they push them on the DRI product?
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I think the 4th bullet on the DRI portion of the slide is the issue:

1688937882029.png
 
I have always been HGVC, not DRI. Sales rep indicated deeds would be turned in somehow. I’m not understanding it and maybe rep was confused. Just what I heard.
 
Eggrollcreative said:
I have always been HGVC, not DRI. Sales rep indicated deeds would be turned in somehow. I’m not understanding it and maybe rep was confused. Just what I heard.
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I am sure that they can take your HGVC deed and then sell you DRI/HVC Trust points.
 
HuskerATL said:
I think the 4th bullet on the DRI portion of the slide is the issue:

View attachment 78976
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Makes sense. More to unload and they can sell the HGVC access at six months with Max. I bet some people will be unhappy with trying to book certain HGVC resorts and seasons if they buy DRI/HGV with the intent of staying at HGVC resorts.
 
dioxide45 said:
Makes sense. More to unload and they can sell the HGVC access at six months with Max. I bet some people will be unhappy with trying to book certain HGVC resorts and seasons if they buy DRI/HGV with the intent of staying at HGVC resorts.
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oh yeah...especially any high demand places. Also, I think the trust points have higher MFs than many of the deeded weeks.
 
Let’s say someone was interested in trust points for some reason (not me). Is there a good, better,, best location for MF fees? Or would it mainly be Nevada/LV still? I noticed a lot of the HGV fees are quite high.
 
Zenichiro said:
Let’s say someone was interested in trust points for some reason (not me). Is there a good, better,, best location for MF fees? Or would it mainly be Nevada/LV still? I noticed a lot of the HGV fees are quite high.
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They aren't by individual property, they are by collection. So the US Collection, for example, they group them all together and I guess the MFs are the average of all of them in the collection and you don't have a homeweek. There is a Hawaii collection also but some of the DRI/HVC folks can explain it better than I can.
 
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HuskerATL said:
They aren't by individual property, they are buy collection. So the US Collection, for example, they group them all together and I guess the MFs are the average of all of them in the collection and you don't have a homeweek. There is a Hawaii collection also but some of the DRI/HVC folks can explain it better than I can.
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Ah okay. That makes some sense. I wondered how the came up with the fees.
 
Sad because they have hobbled the resale market with limitations so that DRI owners are trying to sell trust collection points for $1.00 on Redweek.

How do you exit if you cannot give it away?
 
CalGalTraveler said:
Sad because they have hobbled the resale market with limitations so that DRI owners are trying to sell trust collection points for $1.00 on Redweek.

How do you exit if you cannot give it away?
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true...they are in the marketplace for cheap and there is a whole discussion on HVC about buying dirty points and making the clean...
 
Eggrollcreative said:
Sales rep indicated deeds would be turned in somehow. I’m not understanding it and maybe rep was confused. Just what I heard.
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I think the sales rep is either misinformed or (more likely) trying to use a scare tactic to create an urgency that your deeds will somehow be "turned in", so you should buy trust points now. I'm sure the sales teams are being told to "push the trusts", since corporate has stated they have "significant excess developed inventory" on the HVC (old Diamond) side.

I'll believe official communication from corporate (like the slide from the investors call that @HuskerATL posted) over what a salesperson says any day of the week.

Kurt
 
Since my resale HGVC deeded points are 8 cents a point mf I'd laugh them out of the room if they tried to switch me to HVC trust points at 25 cents!

Oh, but it gets you MAX, hahahahahaha
 
It appears from DRI posts that DRI sales was very skilled at creating FOMO and convincing owners to trade in their deeds.

For many reasons, we will only buy deeds. If all that they can offer at sales preso is trust points, then that is a great reason to get out of a sales preso early. Sucks to be the sales person who has nothing to sell me. :) I will take my gift now please!
 
CalGalTraveler said:
It appears from DRI posts that DRI sales was very skilled at creating FOMO and convincing owners to trade in their deeds.

For many reasons, we will only buy deeds. If all that they can offer at sales preso is trust points, then that is a great reason to get out of a sales preso early. Sucks to be the sales person who has nothing to sell me.
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Corrina Chen has commented many times in the FB groups that she regrets turning in their deeds for the trust and regrets being talked into joining Max on the DRI side. She says that she has lost benefits from her platinum status. She is also EP on the HGVC side and has no interest in Max on this side.
 
CalGalTraveler said:
It appears from DRI posts that DRI sales was very skilled at creating FOMO and convincing owners to trade in their deeds.

For many reasons, we will only buy deeds. If all that they can offer at sales preso is trust points, then that is a great reason to get out of a sales preso early. Sucks to be the sales person who has nothing to sell me. :) I will take my gift now please!
Click to expand...

I've stayed at several AZ DRI resorts through Interval and GPX, talked to several owners around the hot tubs that were confused about trading in deeds. I would tell them that DRI is taking your deed and then selling it back to you as points because they were going to put it in the trust, why buy what you already own a second time?

DRI sales was indeed skilled at FUD and FOMO, apparently they have assimilated into the HGVC sales organization.
 
the trust angle was mentioned in my update today in Charleston, SC. the angle the rep gave was you can use those points to have earlier access to DRI sites. they also stated that the DRI properties upgraded to HGVC standards will still remain available to DRI folks, earlier than HGVC folks.

so, i'm really kicking myself for buying into the MAX upgrade option last year.
 
HaberHGV said:
I just had an update at Elara as well- they mentioned to me that the trust structure does indeed get rid of deeds and that the MFs on those would be .25 cents per point. He said trusts won’t be good for owners…but that they’re pushing the trusts because they’ve continued to have growth in membership, but it outpaces the amount of properties available. So, trusts are a way to continue to get customers without having to expand.
Click to expand...
We're the sales person's lips moving? We all know what that means. Sales folks will try and sell you whatever you do not have and swear it is essential and the best thing since sliced bread.
 
yodaDaenerys said:
the trust angle was mentioned in my update today in Charleston, SC. the angle the rep gave was you can use those points to have earlier access to DRI sites. they also stated that the DRI properties upgraded to HGVC standards will still remain available to DRI folks, earlier than HGVC folks.

so, i'm really kicking myself for buying into the MAX upgrade option last year.
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That means they were selling the DRI trust. That is why you would have the DRI booking windows but, if that is your only ownership, then only 6 months into HGVC.
 
HuskerATL said:
That means they were selling the DRI trust. That is why you would have the DRI booking windows but, if that is your only ownership, then only 6 months into HGVC.
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right, it was presented as having priority booking in both systems. but only with the applicable points. they didn't even put together a proposal.
 
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