http://www.businesswire.com/news/ho...rand-Vacations-Purchases-Sunrise-Lodge-Hilton
Guess up until now it was just leasing/managing the property?
Guess up until now it was just leasing/managing the property?
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HGVC buys sunrise lodge
- Thread starter TUGBrian
- Start date
alwysonvac
TUG Lifetime Member
- Joined
- Sep 11, 2005
- Messages
- 17,097
- Reaction score
- 4,773
- Location
- New Jersey
- Resorts Owned
- WORLDMARK, HGVC, VISTANA
SOLD (DVC, FSRC)
Yes back in 2012 HGVC was selected by developer Resort Finance America to manage the property and to provide timeshare sales and marketing services.
http://archive.utahbusiness.com/dev/articles/view/hilton_grand_vacations_establishes_brand_presence
http://www.businesswire.com/news/ho...and-Vacations-Establishes-Brand-Presence-Park
- Joined
- Apr 28, 2011
- Messages
- 1,689
- Reaction score
- 875
- Location
- Sacramento, CA
- Resorts Owned
- Vacation Internationale, HGVC - NYC, Worldmark, Shell Vacations, Sedona Pines, RCI Points, Starwood (Avon, CO)
I'm a little confused. Since the units and common areas are owned by the timeshare owners what was left to buy? Unsold inventory?
- Joined
- May 30, 2016
- Messages
- 5,534
- Reaction score
- 4,051
- Location
- Gig City in Tennessee
- Resorts Owned
- Legacy HGVC
FAVC-Cabo
HGVC didn't own Sunrise Lodge until this purchase is finalized, they only managed the property and timeshare sales.
- Joined
- Apr 28, 2011
- Messages
- 1,689
- Reaction score
- 875
- Location
- Sacramento, CA
- Resorts Owned
- Vacation Internationale, HGVC - NYC, Worldmark, Shell Vacations, Sedona Pines, RCI Points, Starwood (Avon, CO)
That doesn't answer my question. They can't "own" Sunrise Lodge because it is a timeshare owned by the timeshare owners. As such, I'm trying to clarify what was available to buy. I'm assuming it is unsold inventory and perhaps some retail space?
Am I missing something?
- Joined
- Jul 4, 2007
- Messages
- 17,897
- Reaction score
- 7,763
- Resorts Owned
- HGVC & GTS
The gist is that HGVC is "upgrading" it's level of control over the resort by taking it "in house" so to speak.
HGVC uses a variety of devices to hold HGVC resorts captive. They include (1) unsold inventory and (2) HOA control, but primarily, (3) limits on owner access thru "club rules." Since owners access to the system depends on adherence to booking rules set by HGVC. Thus, while HGVC members may have a deed, that doesn't really mean anything. You are buying into the club -- not your TS.
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