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Holiday Inn Club Vacation - Did I Get A Good Deal?

csxjohn

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OP seems to have never come back to respond or thank for the helpful thoughts.
In this case I wouldn't read too much into that. A week or more off to digest isn't too bad and this poster sounds as if they have a grip on what's being told.

We shall see but it they did keep the unit, I know I won't feel bad that they didn't take our advice. All we can do is give it and hope they weigh all their options and act accordingly.
 

skotrla

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I bought my points on ebay and I have over 300,000. My "status" is Preferred. Is this what you are asking?
Yes, that's what I was asking. The official HICV policy is that you shouldn't have status and they reserve the right to take it away at any time.

-Scott
Owner, HICV Google+ Group
 

silentg

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I have a points based week at Orange Lake in Kissimmee. We have converted our point to IHG which has made it helpful in making trips to Europe. We are also using IHG this year to book hotels on our way to Hawaiian vacation. DH travels and uses IHG approved hotels so we have been able to make good use of our HICV. OP may be trying to do the same, we have also stayed at HICV in Mrytile Beach and Cape Canaveral. If you need more info OP
Send me a private message.
Silentg
 

TamaraQT

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Hello everyone....I too have questions about HICV purchase. I am a fellow TUG member and I visited HICV Orange Lake Orlando last August. My family loved it and I was considering buying resale on Ebay. I thought about it too long and missed out on a Holiday Week #26 a couple of months ago. So here I am considering it again. There is a Christmas week #51 available on Ebay. I came across this thread looking for info on what type of flexibility HICV gives to trade a holiday week for a summer week? I visited the owners website and I see where the weeks are given point value. So if I own a holiday week would it be easy for me to trade my week for a summer week at the same resort? Or should I look for a week I would like to travel every year? I was hoping owning a holiday week would give me more flexibility. If I need to start a new thread for this, please advise. Thanks in advance for any help and guidance anyone is willing to give. :)
 

tschwa2

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If you buy a week at orange lake, even if the previous owner had points, it will revert back to a deeded fixed week. The points mean nothing for a fixed week owner. It will cost a minimum of a new purchase of $8000 to convert a deeded week to points with HICV. If you want summer there you need to buy summer there and it will still be a fixed week. Any other time you want to go you would need to use an exchange company like RCI. With RCI it would be easy to exchange a week 51 for a summer week but it would cost an additional
$239 for the exchange.

HICV does have 3 resorts that retain points upon resale: Lake Geneva, WI, Gatlinburg, TN, and Myrtle Beach, SC. Those are the only 3 that resale locations that would allow you to use points through HICV without that $8000 plus purchase. Also keep in mind that if you have a HICV points week there is an additional HICV annual fee which I believe is around $150 on top of MF's.
 

TamaraQT

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If you buy a week at orange lake, even if the previous owner had points, it will revert back to a deeded fixed week. The points mean nothing for a fixed week owner. It will cost a minimum of a new purchase of $8000 to convert a deeded week to points with HICV. If you want summer there you need to buy summer there and it will still be a fixed week. Any other time you want to go you would need to use an exchange company like RCI. With RCI it would be easy to exchange a week 51 for a summer week but it would cost an additional
$239 for the exchange.

HICV does have 3 resorts that retain points upon resale: Lake Geneva, WI, Gatlinburg, TN, and Myrtle Beach, SC. Those are the only 3 that resale locations that would allow you to use points through HICV without that $8000 plus purchase. Also keep in mind that if you have a HICV points week there is an additional HICV annual fee which I believe is around $150 on top of MF's.
 

TamaraQT

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Thanks for clearing that up for me. I will STOP looking at this point and just continue to "rent " from owners. I was hoping it would have been worth it, but there is no need to buy a 'fixed week' and pay Maintenance fees that are higher than renting a week. Thanks so much for taking the time to explain it more clearly for me.
 

KevinQC

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I advertise 5 nights $500 Sunday thru thursday in Orlando if enough advanced warning yet others will do better.

Your right $59 reservation fee, but I always take out the $35 point saver fee so if you, or friends cancel the vacation, you get your points back. this is the $94

I have not seen points increase for my weeks owned. You can buy After market HIVC Gatlinburg, Myrtle beach, and Lake Geneva and be automatically in HIVC point system and be able to book Orlando and all the other HIVC resorts with points.
They say you just can't go up a level with after market buying, but your 190,000 points get you no level anyway. 300,000 points is the first real level above general owner.

I would think that you would have "rights to use" in florida with this after market membership. I can't say for sure on this my membership is thru Orange lake.

when I had my 332,000 points , I could rent 50% of the 332,000 extra points for a 10 to 1 ratio
100,000 points cost $1000
To borrow from next years 332,000 was a 4 to 1 ratio $400 for the same 100,000 points but those points were gone for next year.

190,500 you talk about would cost $1,905.00 to rent extra,
borrowing those points from next years vacation would be $762

I love the HIVC system, happy I have it. I have found a way to make it work for me. It is the only system I know.

I wish I found TUG like you just did, reading over all the systems and finding the best system to purchase to give you what you really want.

If you owned three or four after market units @ HIVC , and you went to the presentation you just did, they would have incorporated ALL of the units into the point system catapulting you to a level that could really do you some good for that same money.

My opinion only , your outcome could be different
Hi,
We just got 50,000 point/ year no longer than yesterday. I am curious to know where do you manage to sell your points. My goal is to pay that cost as soon as possible to save the interest. Once you sell them, how are they transferred to the people you sold them?
 

DrQ

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Hi,
We just got 50,000 point/ year no longer than yesterday. I am curious to know where do you manage to sell your points. My goal is to pay that cost as soon as possible to save the interest. Once you sell them, how are they transferred to the people you sold them?
Did you just buy a contract?
 

DrQ

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If you bought from a developer, your chances of recouping your costs are nil -1.

If you don't mind, could you provide the details of your purchase? (Date of purchase, cost, resort, fixed/float, maintenance fees)
 

KevinQC

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If you bought from a developer, your chances of recouping your costs are nil -1.

If you don't mind, could you provide the details of your purchase? (Date of purchase, cost, resort, fixed/float, maintenance fees)
I purchased from IHG orange lake resort through IHG directly. I think as they all seemed to be IHG staff and was done at the resort. Purchased yesterday for 11,000 at orange lake resort but you also get access to other hotels for different point ratio. Maintenance fees are 390 per year. Fixed or float i am not sure what you mean by there?

Did i just get scammed, any way i can break the contract before giving them any funds? I did mention i had concerns with the maintenance costs going up but they mention that wouldn’t change in a near future.
 

DrQ

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Yes.

If you want to get into Timeshares there are quite a few good people here that can make your money go much further that 50000 HICV points.
 

KevinQC

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We travel at least 2 weeks a year and would rent in Holiday inn hotels at 100-150$ per night. Quick calculations told me it wasn’t really worth the first years you are paying off the initial cost but since it is good for lifetime and transferable to your kids i felt like it became worth It later. Wouldn’t you agree?

14 days would cost me minimum 1,400$ and continue costing more with inflation.
1,400$ - 390 formaintenance fees - 200$ per period i stay would mean I’m saving abouy 800$ per year is how i saw it.
 

DrQ

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If you read the thread I provided, 50000 points will not get you a 2BR in prime season. You will need ~150000/yr and for that the MF (Maintenance fees) are currently ~$1500/yr.

You have the right idea, but you need to go about it a different way.
 

KevinQC

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Thanks, your insight is much appreciated really. I will read that thread more in detail. Seems like i have 10 days to rescind I’m florida.
 

dayooper

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Thanks, your insight is much appreciated really. I will read that thread more in detail. Seems like i have 10 days to rescind I’m florida.
Please recind. Timeshares can be great. You can find great deals resale and work the system to your advantage.
 

Bmatrose

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50,000 points is not enough to do anything meaningful with. Its just to get you in the door so they can sell you more later.
 

KevinQC

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Please recind. Timeshares can be great. You can find great deals resale and work the system to your advantage.
Just mailed my rescind letter with a copy of the contract by mail with request for signature at reception. Sent two copied in case one gets lost. Hopefully this works out! I’ll keep you posted
 

tschwa2

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The rescission days are based on when you signed and received copies of the contract. It has nothing to do with when you make any payments (first or last).
 

LannyPC

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Just mailed my rescind letter with a copy of the contract by mail with request for signature at reception. Sent two copied in case one gets lost. Hopefully this works out! I’ll keep you posted
I might be a little late to chime in on this but...one thing to watch out for is phone calls coming your way. You might get phone calls from the resort or the sales people trying to convince you to reverse your decision to rescind. Be careful about answering such calls.

Remember, they legally can take up to 45 days to refund your money. It usually does not take that long, though. Just don't go panicking if you don't see your refund right away and start calling the resort asking for updates. If you sent in your rescission letter according to the instructions, the developer is required to refund you every penny, no questions asked.
 

KevinQC

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I sent the letter and saw they received it but haven’t heard back from them since monday which concerns me a bit. I keep wondering if there is anything in my letter that could make it invalid.
 
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