HICV is downsizing units from Silverleaf resorts [Merged threads]

[DrQ]

https://holidayinnclub.com/silverleaf-project?contactID=0031I00000aUegzQAC&utm_source=awareness&utm_medium=email&utm_campaign=Mockingjay%20Non-Impacted%20Owners&utm_content=micrositeurl&

Slated to be removed:

• The entire properties at Holly Lake Resort, Lake o’ the Woods Resort, and Ozark Mountain Resort.
• Select buildings and units at Fox River Resort, Hill Country Resort, Piney Shores Resort, and Villages Resort – see chart

 

[amycurl]

How would this even work? Are they selling these units? Are they just not renewing the management contract?

 

[tschwa2]

How would this even work? Are they selling these units? Are they just not renewing the management contract?

Silver leaf resorts are traditional multi buildings with several units in each building. I image they are selling off full buildings that can either than be marketed as full time live in condo's or sold to another timeshare developer or hotel operator.

 

[amycurl]

After I posted, I went back and actually read the information on the page that was originally linked. In the FAQs there, they said that in the event of a sale it *would not* be to another timeshare developer. So, maybe whole ownership or hotel only as options? Or just knock 'em down? Also in the FAQs, they mention the resorts that are just losing some units quite a bit. But not much at all to what happens to the three whole resorts whose owners are SOL. How do they "reassign their interest?" If they don't want another resort, it looks like it is too bad, so sad for them. But there also isn't a mention that these three whole resorts wouldn't be sold to another timeshare developer.
I have no skin in this game. Just fascinated in general. #timesharenerd

 

[tschwa2]

After I posted, I went back and actually read the information on the page that was originally linked. In the FAQs there, they said that in the event of a sale it *would not* be to another timeshare developer. So, maybe whole ownership or hotel only as options? Or just knock 'em down? Also in the FAQs, they mention the resorts that are just losing some units quite a bit. But not much at all to what happens to the three whole resorts whose owners are SOL. How do they "reassign their interest?" If they don't want another resort, it looks like it is too bad, so sad for them. But there also isn't a mention that these three whole resorts wouldn't be sold to another timeshare developer.
I have no skin in this game. Just fascinated in general. #timesharenerd

If they don't want another resort, they could probably do a deed back and not have to pay the $1200 horizons fee so at least it would be an easy out. I doubt HICV would be making enough money that the owner could try to refuse and negotiate a buy back but you never know it might be possible.

 

[T-Dot-Traveller]

Hi @DrQ ,
I appreciate your posting . I know you were a Silverleaf week owner / now HICV points owner.

I have family near to the HICV -Oak & Spruce ( nee Silverleaf ) in Mass. & have considered it for future area visits - so I am glad that property was not listed for downsizing.

 

[DrQ]

Hi @DrQ ,
I appreciate your posting . I know you were a Silverleaf week owner / now HICV points owner.

I have family near to the HICV -Oak & Spruce ( nee Silverleaf ) in Mass. & have considered it for future area visits - so I am glad that property was not listed for downsizing.

After the sale was announced, I suspected that Holly Lake Resort, Lake o’ the Woods Resort, and Ozark Mountain Resort were not long for HICV.

I would like to see unit maps of the other resorts to see how many retired units will be the crappy 4 unit lodges. I suspect that may be the case with The Villages and Piney Shores.

IDK what units they are retiring at Fox River or Hill Country. With Hill Country it looks like they may be retiring some of the 12 unit Lodge buildings unless they renumbered the smaller 4-plex Lodges, but I thought they were numbered 00-99. Anybody have a recent map of Hill Country Resort?

 

[Sandy VDH]

I have maps of the most of the TX resorts.

The Hill Country are the 6 Lodge units located North of 306 that have direct Hwy access and are already separate from the rest of the resort. These are the ones that are located to the east of the Presidential and Ambassador units.

 

[Sandy VDH]

Ironically these are the newest lodge units built, however from a dividing units off from the rest of the resort, these make the most sense.

 

[DrQ]

I have maps of the most of the TX resorts.

The Hill Country are the 6 Lodge units located North of 306 that have direct Hwy access and are already separate from the rest of the resort. These are the ones that are located to the east of the Presidential and Ambassador units.

Thanks Sandy! I keep on forgetting about those Lodge units.

 

[Happytravels]

I have some of the other maps too if anyone is interested, We are owners and this is just sad.

 

[Happytravels]

After the sale was announced, I suspected that Holly Lake Resort, Lake o’ the Woods Resort, and Ozark Mountain Resort were not long for HICV.

I would like to see unit maps of the other resorts to see how many retired units will be the crappy 4 unit lodges. I suspect that may be the case with The Villages and Piney Shores.

IDK what units they are retiring at Fox River or Hill Country. With Hill Country it looks like they may be retiring some of the 12 unit Lodge buildings unless they renumbered the smaller 4-plex Lodges, but I thought they were numbered 00-99. Anybody have a recent map of Hill Country Resort?

 

[Sandy VDH]

Maybe there are a lot of units still owned by the developer, and perhaps even a significant number in default as well. SL MFs were not all that cheap to begin with.

The unlimited free bonus time was a situation that likely had unintended consequences. People who used that bonus time, just had different behaviors they always booked at the last minute never in advance, and given that there was likely a large number of available units this was a strategy that worked for them. Pay 1 MF and get 4 or 5 weeks use of out in, plus have free day use even is not staying there. I believe both of those things are not sustainable. Units during SL time were often not in very good shape.

Just look at inventory available in RCI to give you some idea of who much availability is out there.

But I feel sorry for those who bought into SL because of those promises.

 

[missyrcrews]

Glad that Timber Creek isn't on this list. We stay there every summer when we visit my parents in Missouri. We love that property!

 

[lundberry]

I guess my question would be are they going to convert resale fixed weeks into trust points for people?

 

[tschwa2]

I guess my question would be are they going to convert resale fixed weeks into trust points for people?

are you specifically asking about affected silverleaf fixed weeks that are affected by this or just HICV resale fixed weeks in general?

 

[jbprstx]

I guess my question would be are they going to convert resale fixed weeks into trust points for people?

I am a Holly Lake Resort weeks owner and they didn't offer that. They did tell me that I had to move my timeshare to one of these resorts listed below. Reading the FAQ's if I don't change to one of these it basically says I won't be able to use my week anymore which in my mind they are telling me that they will void my contract. They may not see it that way lol. I haven't decided on what I'm doing yet. I did have a woman contact me about turning my deeded week into points but I'm sure I am not interested in going that direction.

• Holiday Hills
• Fox River
• Piney Shores
• The Villages
• Hill Country

 

[lundberry]

are you specifically asking about affected silverleaf fixed weeks that are affected by this or just HICV resale fixed weeks in general?

I know the units normally would be stuck as fixed weeks so I assume there would be something having to be done for people whose fixed weeks were no longer effective.

 

[tschwa2]

I know the units normally would be stuck as fixed weeks so I assume there would be something having to be done for people whose fixed weeks were no longer effective.

The option for those with a deed affected (either their building) or the whole resort is not to allow them to join HICV for free but to exchange their deed for a different silverleaf deed that is not affected. Presumably if that is not acceptable they can just do a deed back and then be out completely.

 

[DrQ]

I am a Holly Lake Resort weeks owner and they didn't offer that. They did tell me that I had to move my timeshare to one of these resorts listed below. Reading the FAQ's if I don't change to one of these it basically says I won't be able to use my week anymore which in my mind they are telling me that they will void my contract. They may not see it that way lol.

• Holiday Hills
• Fox River
• Piney Shores
• The Villages
• Hill Country

What happens if an owner does not reassign their vacation ownership interest?
If an owner does not reassign their vacation ownership interest to a comparable interest, their interest will be terminated if the owners eligible to vote confirm that the units and buildings are obsolete or under-utilized, resulting in those units’ termination from the HICV network. This means the owner can no longer use their vacation ownership interest.

Here is what I suspect:
Fact: You own a deed to that property recorded in the county of the location of the property.

While they cannot evict you from your ownership, they CAN make it expensive for you to keep it by either raising the yearly fees or making a special assessment, or both. This is what happened to us at our property at Inverness by the Sea by giving us a SA of $6K per owned week if we wanted to keep our chips in the game. With millions of $ in losses, I didn't want to plunk down $12K to essentially become a shareholder in the consortium on the sale of ALL units as apartments. It was better to be rid of thing for $0.

I still see a class action brewing. If you have a July 4 week, I bet that you WILL NOT be able to replace it in one of the other resorts dollar for dollar.

 

[DrQ]

... I haven't decided on what I'm doing yet. I did have a woman contact me about turning my deeded week into points but I'm sure I am not interested in going that direction.

IF you can convert to HICV points at no cost in the resort that you want (Not some crappy Orange Lake resort), then that might be your best play. As pointed out above, there will most likely be a class action lawsuit and that could keep you out as a participant.

You may want to talk to a lawyer.

 

[Happytravels]

What happens if an owner does not reassign their vacation ownership interest?
If an owner does not reassign their vacation ownership interest to a comparable interest, their interest will be terminated if the owners eligible to vote confirm that the units and buildings are obsolete or under-utilized, resulting in those units’ termination from the HICV network. This means the owner can no longer use their vacation ownership interest.

Here is what I suspect:
Fact: You own a deed to that property recorded in the county of the location of the property.

While they cannot evict you from your ownership, they CAN make it expensive for you to keep it by either raising the yearly fees or making a special assessment, or both. This is what happened to us at our property at Inverness by the Sea by giving us a SA of $6K per owned week if we wanted to keep our chips in the game. With millions of $ in losses, I didn't want to plunk down $12K to essentially become a shareholder in the consortium on the sale of ALL units as apartments. It was better to be rid of thing for $0.

I still see a class action brewing. If you have a July 4 week, I bet that you WILL NOT be able to replace it in one of the other resorts dollar for dollar.

We own week 25 at lake o the woods. We told them only weeks 25 26 or 27 would work. We would like Piney Shores but they want to give us the villages.

Sent from my Nokia XR20 using Tapatalk

 

[gerena]

We are presently staying at Ozark Mountain Resort. It is beautiful. They have closed off the older units and only booking Presidentials. The condos are wonderful and we have a view if the mountains. We stayed here once in the fall and it was so pleasant. It is out of the busy area of Branson and easy access to points in NW Arkansas.

When we checked in I told the gal at the desk I was so appreciative she assigned an easy access unit for my 90 year old friend. She lamented that the end was coming. I shared that I had read it on TUG. She indicated she has no clue what was happening but that she might have to transfer to Holiday Hills which was further from her home.

So sad for the owners here and others who wish to transfer thru RCI. I could see it being made into privately owned properties as there are some just off property.

I’m saddened for all.

 

[jbprstx]

We are presently staying at Ozark Mountain Resort. It is beautiful. They have closed off the older units and only booking Presidentials. The condos are wonderful and we have a view if the mountains. We stayed here once in the fall and it was so pleasant. It is out of the busy area of Branson and easy access to points in NW Arkansas.

When we checked in I told the gal at the desk I was so appreciative she assigned an easy access unit for my 90 year old friend. She lamented that the end was coming. I shared that I had read it on TUG. She indicated she has no clue what was happening but that she might have to transfer to Holiday Hills which was further from her home.

So sad for the owners here and others who wish to transfer thru RCI. I could see it being made into privately owned properties as there are some just off property.

I’m saddened for all.

I've been to Ozark Mountain several times and loved it. I only stayed in a presidential once the other 2 times was in lodges but was just as happy but I'm a country boy and love the woods. I had looked into buying into that resort once because we loved it so much. I told my wife if they would sell the lodge units individually i would definitely buy one.

 

[Happytravels]

UPDATE: We were called last week my Orange Lake and they are deeding us at Piney shores resort with our original week 25. That is the good news the not so good news is they are deeding us in one of the cabins we don't like. I tried to get them to change that to no avail, but I guess we will see how it goes when we get the paperwork in 4-6 weeks.