Holiday inn vacation club owners update

[Sandy]

I'll slightly disagree with this part of your post:

HIVC has complete knowledge of any resale contracts in your Account. They have "Right of First Refusal" before any ownership is Transferred. So, whatever you own from a resale shows up in your Account as a resale.

We bought all three of our units on ebay. This was before the change over to HIVC HICV. Whenever we go to an update meeting (3x) the rep looks at our account and says something like, "Oh I see you paid $9,000. 14,000, and 6000 for your units." The first time this happened, I did not realize what was going on. The second time, I asked more questions and realized that they were referring to the original owner who bought the units years ago.

I corrected the rep, telling her that we bought resale. She made some notes in the record. However, this past June we got the same response - "Oh I see you paid $$$" I guess they tell the reps this because if it looks like we paid close to $30,000, it is not a big leap to buy a package for "only" $15,000 additional dollars, and the reps think that they have a chance with us.

Once they realize we paid pennies on the dollar, they stop their pitch and get real.

My only disagreement is that these were all resales but do not show up in our account as resales. They show up like we are the prior owners. Perhaps this is a unique situation on how the Summer Bay Desert Club came into several ownership hands before transferring over to HICV. I don't know.

 

[Tank]

So Johndeb have you been to a update since these points were added to your status?

 

[silentg]

So Johndeb have you been to a update since these points were added to your status?

We own a points based week at Orange Lake Orlando. We have 127,000 points per year. Have converted them to IHG and used some for trades into other HICV. Why is 300,00 points the magic number for you?
Silentg

 

[johndeb]

I'll slightly disagree with this part of your post:



We bought all three of our units on ebay. This was before the change over to HIVC HICV. Whenever we go to an update meeting (3x) the rep looks at our account and says something like, "Oh I see you paid $9,000. 14,000, and 6000 for your units." The first time this happened, I did not realize what was going on. The second time, I asked more questions and realized that they were referring to the original owner who bought the units years ago.

I corrected the rep, telling her that we bought resale. She made some notes in the record. However, this past June we got the same response - "Oh I see you paid $$$" I guess they tell the reps this because if it looks like we paid close to $30,000, it is not a big leap to buy a package for "only" $15,000 additional dollars, and the reps think that they have a chance with us.

Once they realize we paid pennies on the dollar, they stop their pitch and get real.

My only disagreement is that these were all resales but do not show up in our account as resales. They show up like we are the prior owners. Perhaps this is a unique situation on how the Summer Bay Desert Club came into several ownership hands before transferring over to HICV. I don't know.

Here is what I know...... if you purchased a resale that was part of HIVC, then a "Right of First Refusal" by HIVC is a requirement before the Transfer is processed by HIVC. HIVC has never used their "Right of First Refusal" but a copy of the sales contract is required to be included when the transfer request is submitted to HIVC. Whatever sales price is indicated on the Sales Agreement, is recorded by HIVC and it is noted as a resale on your HIVC Account. If a timeshare resale purchase occured at a resort prior to HIVC ownership, I have no idea how HIVC would ever know if you were the original purchaser or bought on resale.

 

[johndeb]

We own a points based week at Orange Lake Orlando. We have 127,000 points per year. Have converted them to IHG and used some for trades into other HICV. Why is 300,00 points the magic number for you?
Silentg

HIVC awards additional membership benefits depending on how many points you own. A "Preferred" level is 300,000 to 499,999, a "Premiere" level is 500,000 to 749,999, a "Prestige" level is 750,000 to 999,999, and an "Elite" level is 1,000,000 and above. If you are satisfied with 127,000 and that meets your timeshare vacation objectives, there is no reason to spend any more money to achieve a higher membership level. However, if you think at some point in the future you may want to increase your timeshare vacation objectives, it might be beneficial to review the membership benefits for each level to evaluate the cost and value of adding additional points that might help you achieve your goals. In my opinion, it's better to be conservative because every additional points contract you own comes with a lifetime maintenance fee.

 

[skotrla]

If you have an existing HIVC Account and buy a resale contract from South Beach Resort (Myrtle Beach), Smoky Mountain (Gatlinburg), or Lake Geneva (Wisconsin), these will transfer and be added to your Points Account. I don't think the resale Points are counted towards your membership level, but there are exceptions made if/when you upgrade something through HIVC. Also, who knows if/when this could change? I've been told a few times during an upgrade negotiation that "This is the last time you will be able to bring-in a resale contract" yet I was able to add another one recently.

It's not just if you already have an account - my initial Lake Geneva purchase created a new HICV points account.

-Scott
Owner, Google+ HICV Group

 

[skotrla]

Here is what I know...... if you purchased a resale that was part of HIVC, then a "Right of First Refusal" by HIVC is a requirement before the Transfer is processed by HIVC. HIVC has never used their "Right of First Refusal" but a copy of the sales contract is required to be included when the transfer request is submitted to HIVC. Whatever sales price is indicated on the Sales Agreement, is recorded by HIVC and it is noted as a resale on your HIVC Account. If a timeshare resale purchase occured at a resort prior to HIVC ownership, I have no idea how HIVC would ever know if you were the original purchaser or bought on resale.

The HICV/OLCC Deeding department has a copy of the deed that made you an owner, which shows who you bought the unit from.

-Scott
Owner, Google+ HICV Group

 

[skotrla]

Well, well, well... I mention in an earlier post about the two weeks I own that are now in the HIVC program, an original Ron Jon 2 BR and Studio I had to buy in order to convert my 2BR week into points.

So we just finished our 10 days at the Old Ron Jon and we did the owner update. I wanted to see if they would take my two weeks back and put me in something similar, maybe a little bigger for not too much and get me to the VIP 300,000 level.

The only thing they would consider was taking back the studio and the 49,000 points I get for that (which we normally NEVER do, but we will for you!!!) Right? and sell me 159,000 points.

Now in this transaction they would credit me back about $6,000 I paid last year and it would only cost me an additional $18,000!!!! Yes, $18,000 bucks, smacker, whatever!! I said, you have got to be kidding...

They were shocked that I am going to pass up on this deal and you don't know what you are doing!!! What's wrong with you....

Sorry, could not pull that trigger.... You will never get this many points for .13 cents again!!!!

Did I miss the boat??? Should I have bit on that deal??? Thoughts???

Reached back out to HICV in September and was offered $8K with closing for 68K odd unit with $707 maintenance in use year to bring over 1 owned unit and 3 units in next 60 days. Previous offer was $11K with closing for 45K annual unit with $267 maintenance.

You could pair either of these offers with a free fixed week off Ebay in the range of $800/year for 200K points.

-Scott
Owner, Google+ HICV Group

 

[dotnetnerd]

Here's our situation, it's very similar to bird20

-We have a Cape Canaveral HICV worth 175,000 points
-last year we bought a 1-bdrm EVEN at Orange Lake for $5000 (to get us "into the system")
worth 59,000

-yesterday we made this deal:
HICV bought back our Orange Lake and got us a Las Vegas unit worth 148,000 , Odd years only
Purchase price was $18000 but they bought back our OL for the $5000 we paid for a net of $13000

So we're only above 300,000 points every OTHER year - therefore not actually Preferred yet.

They're giving us a 2 year free Preferred status trial in hopes we'll later buy another week to push us into Preferred.

Bottom line, we're paying $18,000 for a Vegas unit worth 148000 points every OTHER year.

We're considering rescinding. The cost to get into Preferred (300,000+) just seems too steep.

 

[MagicMedic]

There is a legitimate and much cheaper way to achieve the Preferred status with HICV. Orange Lake resorts (OL), the owner of HICV, will let you convert properties bought on the resale market to HICV points IF you purchase a property from them also. I just did this to upgrade to Elite Status. Until this past November, a minimum purchase of $8500 from OL would permit you to convert up to two properties that you already own into HICV points. In November, the minimum purchase went up but I don't know by how much. The best way to get the status you want is to purchase a HICV property or two on the resale market and the buy one from OL. The KEY is to understand both the value (in points)of what you are purchasing on the resale market as well as the maintenance fee per 1000 HICV points. There are PLENTY of free or bargain basement HICV properties that people want to unload, but most of them have a high maintenance fee (MF) per 1000HICV POINTS. Do not allow yourself to be tempted by the low or zero purchase price. The lowest maintenance cost units are large units in diamond or platinum weeks (preferably signature collection units). There is a HUGE difference in maintenance cost per 1000 points. In my research the most expensive resale unit had a MF of $10.6 per 1000 points and the lowest cost was $3.6 per 1000 points. Highest cost is Williamsburg. Lowest is Marco Island. I just purchased a Marco unit worth 325,000 points for $3750. I have been doing extensive research and feel very good about my recent purchases. Also, I called OL and spoke to them directly. I told them what I intended to do, they said ok, and I had it verified by email. I was cautioned by my contact at OL there has been recent talk about closing the window of opportunity for converting resale units. I don't know if this will happen or not. Hope this helps.

 

[dotnetnerd]

Thanks Magic, that's very helpful.

I have the chance to pick up another Cape Canaveral 2 bdrm oceanside unit from a family member for free (175,000 pts).

I'll see if HICV will allow me to convert it to points.

 

[johndeb]

HIVC

There is a legitimate and much cheaper way to achieve the Preferred status with HICV. Orange Lake resorts (OL), the owner of HICV, will let you convert properties bought on the resale market to HICV points IF you purchase a property from them also. I just did this to upgrade to Elite Status. Until this past November, a minimum purchase of $8500 from OL would permit you to convert up to two properties that you already own into HICV points. In November, the minimum purchase went up but I don't know by how much. The best way to get the status you want is to purchase a HICV property or two on the resale market and the buy one from OL. The KEY is to understand both the value (in points)of what you are purchasing on the resale market as well as the maintenance fee per 1000 HICV points. There are PLENTY of free or bargain basement HICV properties that people want to unload, but most of them have a high maintenance fee (MF) per 1000HICV POINTS. Do not allow yourself to be tempted by the low or zero purchase price. The lowest maintenance cost units are large units in diamond or platinum weeks (preferably signature collection units). There is a HUGE difference in maintenance cost per 1000 points. In my research the most expensive resale unit had a MF of $10.6 per 1000 points and the lowest cost was $3.6 per 1000 points. Highest cost is Williamsburg. Lowest is Marco Island. I just purchased a Marco unit worth 325,000 points for $3750. I have been doing extensive research and feel very good about my recent purchases. Also, I called OL and spoke to them directly. I told them what I intended to do, they said ok, and I had it verified by email. I was cautioned by my contact at OL there has been recent talk about closing the window of opportunity for converting resale units. I don't know if this will happen or not. Hope this helps.

I've done some similar research and here's what I have found. Las Vegas Desert Club 2 bedroom lock-off Season 3 (Diamond) = 226,000 Points for $601.00 maintenance fee or $2.70/1000. River Island 3 bedroom Pool view lock-off (Holiday Season) = 353,000 Points for $1000 maintenance fee or $2.80/1000. Ascutney Mountain 3 bedroom lock-off (Diamond) = 356,000 Points for $1036 maintenance fee or $2.91/1000.

 

[tschwa2]

I've heard River Island holiday weeks are regularly taken by ROFR even some platinum weeks. It is easier to pass ROFR for 3 br holiday weeks in the other sections but they only get 244,000 points for around $950 in MF's.

 

[johndeb]

I've heard River Island holiday weeks are regularly taken by ROFR even some platinum weeks. It is easier to pass ROFR for 3 br holiday weeks in the other sections but they only get 244,000 points for around $950 in MF's.

I have never encountered a situation where HIVC excersized their ROFR on a resale, including the resale of a "Signature Collection"? If these were "regularly taken by ROFR", I think I would have encountered one that would have been taken, but it has not happened to me? In fact, a source at HIVC has informed me that they do not make a practice of using their ROFR?

 

[skotrla]

I have never encountered a situation where HIVC excersized their ROFR on a resale, including the resale of a "Signature Collection"? If these were "regularly taken by ROFR", I think I would have encountered one that would have been taken, but it has not happened to me? In fact, a source at HIVC has informed me that they do not make a practice of using their ROFR?

I can't imagine they would exercise ROFR on units at fixed week properties where they have a chance to upsell the buyer into HICV for $10K.

-Scott Kotrla
Owner, Google+ HICV Group

 

[tschwa2]

By exercising ROFR, they have that inventory to add to the points program and then can sell it for $$$. They have enough regular weeks so rarely exercise but some of the diamond holiday inventory would be something they would want to buy back in order to resell.

 

[got4boys]

I had a unit taken by Holiday Inn - ROFR - Holiday week - 52 at River Island.

I was not surprised that it was taken. I won it on ebay for $100.

 

[johndeb]

Were you a Holiday Inn Club owner when they exercised their ROFR? I am wondering if being an owner might make a difference?