• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

HICV is downsizing units from Silverleaf resorts [Merged threads]

adburks

Guest
Joined
May 25, 2023
Messages
6
Reaction score
0
Points
1
Resorts Owned
HICV Holiday Inn Club Vacations (formerly Silverleaf Resorts)
Received a letter in April regarding plans by HICV for several Silverleaf Resorts. Is there a class action or has there been anymore news on this? I have not called them yet. Don't trust whatever they have to say. Ours is paid for but would like to get out from under the dues if possible and rid of it altogether, if possible.
 

Happytravels

Tug Review Crew: Rookie
TUG Member
Joined
Jun 7, 2005
Messages
697
Reaction score
55
Points
389
Location
Texas
Resorts Owned
We are down to three!!
Received a letter in April regarding plans by HICV for several Silverleaf Resorts. Is there a class action or has there been anymore news on this? I have not called them yet. Don't trust whatever they have to say. Ours is paid for but would like to get out from under the dues if possible and rid of it altogether, if possible.
We got the letter also. Called right away to get what we wanted been waiting months. They called 2 weeks ago. We are waiting to see what the paperwork actually says because that's all that matters.


Sent from my Nokia XR20 using Tapatalk
 

adburks

Guest
Joined
May 25, 2023
Messages
6
Reaction score
0
Points
1
Resorts Owned
HICV Holiday Inn Club Vacations (formerly Silverleaf Resorts)
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.
Has anyone heard anything on a class-action?
 

adburks

Guest
Joined
May 25, 2023
Messages
6
Reaction score
0
Points
1
Resorts Owned
HICV Holiday Inn Club Vacations (formerly Silverleaf Resorts)
There has already been an extensive thread started on this subject.
Yes, I was just hoping there might be some updated info. We called and were transferred to the Horizons program but the office was already closed. We have to call back tomorrow. I assume they are a legitimate organization. We'll at least find out what our options are.
 

normalrog2

TUG Member
Joined
Oct 26, 2021
Messages
7
Reaction score
1
Points
63
Resorts Owned
Ft. Lauderdale Beach Resort, Cypress Pointe Orlando, Silverleaf Fox River (IL), Quarter House, Maison Pierre Lafitte
Hello TUG friends, I'm a weeks owner at Fox River and have not yet responded to the HIVC phone messages and emails. I would appreciate any first hand information from Fox River owners who have already contacted HIVC. Specifically, I'm interested in knowing what Fox River options were presented as available, were any other resorts proposed for a swap, and if so, which resorts, what are they suggesting happens if an owner chooses to do nothing, and are they offering a straight free deed-back, and the owner just walks away? Thanks in advance for any information; I'd like to be as informed as possible prior to contacting them.
 

skirin4

newbie
Joined
Jun 29, 2023
Messages
1
Reaction score
0
Points
1
Resorts Owned
HICV Holiday Inn Club Vacations (formerly Silverleaf Resorts)
Hello, anyone have any updates on this? I am a Fox River owner affected by this change and still holding out. Thanks!
 
Top