Rescind?

[Smclaugh99]

My point is that as long as the MF/pp are inexpensive, it will be commensurate with Vegas plat resales. Otherwise, if it falls, people like you will arbitrage, increase demand and pull the prices back up to that level.

Pick your poison with resales: Ebay (legitimacy risk, delays, scouring for deals), Realtor (higher closing costs, deed delays), Scotland (currency risk).

The $1000 premium risk is worth it to me to get Elite status, 10 month reservations and OS discounts/credits. We made an OS reservation recently and realized that we would save $255 on that reservation with elite vs. not having elite. Do that 3 more times and we break-even on any potential capital loss.

I second that. Despite having way more points than I need, I have used open season bookings for 2 night stays in Orlando. Elite premier gives you 30% off OS rates, which makes it much cheaper than the surrounding hotel options.

Sean

 

[Nowaker]

I’m just bummed they are closing the loophole about Scotland and Elite status.

I'm still not convinced this is actually happening. The latest Disclosure is still pretty clear:

> Elite Qualification. Hilton Grand Vacations Club currently affords three tiers of “Elite” recognition privileges to its qualifying Members who acquire vacation ownership interests directly from Hilton Grand Vacations or such other resort sellers determined by Hilton Grand Vacations Club in its sole discretion and who do not qualify for HGV Max benefits. ClubPoints acquired for a term of 25 years or less or if acquired through unrelated third parties do not qualify toward Elite.

Coylumbridge, the company IS Hilton Grand Vacations. Repaste from my previous post:

Their salespeople have @hgv.com email, the same as the US team. The seller is "Hilton Grand Vacations UK Limited (HGVUK)". Moreover "HGVUK is the owner of Hilton Grand Vacations Club at Coylumbridge Lodges (Resort)". Information directly from the purchase agreement.

As per UK corp registration information - https://find-and-update.company-information.service.gov.uk/company/08336462/officers - Mark Douglas Wang is the Director. Hint: same guy as the CEO of HGVC US.

Conclusion: this is handled by HGVC UK, a fully owned subsidiary of HGVC UK Holding, which in turn is a fully owned subsidiary of HGVC US, not a third party broker.

I think it may be red herring. Salesmen like salesmen, will say anything to get you buy from them and not from Scotland. We've yet to see someone who purchases Coylumbridge and is denied recognition of Elite by HGVCorp.

@HuskerATL Can you share the legal entity names from your purchase agreement? I'd like to validate whether they're a fully-owned HGV US subsidiary.

 

[HuskerATL]

They are the same. HGVUK and folks who work there have HGV email addresses. I heard about this through other channels, not HGVC and it isn't just Scotland but other affiliates also then verified with Scotland. According to Andrew, the rep in Scotland, they found out about the 15th deadline last week on a call with corporate. He told me this morning that they were not taking any new contracts after noon their time today for Elite benefits. This is after my contracts were done so he wasn't trying to sell me anything.

 

[HuskerATL]

They probably can sell retail with elite and Max benefits but closing the resale loophole.

 

[Nowaker]

He told me this morning that they were not taking any new contracts after noon their time today for Elite benefits.

Please note that the purchase agreement doesn't say anything about Elite recognition. They're just a seller and have nothing to say in that manner. They just pass the information they get from HGVCorp. My point still stands: We've yet to see someone who purchases Coylumbridge after the official cut-off date and is denied recognition of Elite by HGVCorp. I'm unconvinced anyone will be denied, given current wording in the Disclosure (which is a legally binding document).

 

[HuskerATL]

Mine is for Craigendarroch but they are both managed by HGVUK so they should be the same. I guess we can wait and see. The word is that this is for all resales from affiliates that were able to get elite but wouldn't affect elite for retail purchases from them.

Ok, we need a guinea pig. Somebody go buy one on Monday and let us know.

Sent from my Pixel 4a using Tapatalk

 

[HuskerATL]

Please note that the purchase agreement doesn't say anything about Elite recognition. They're just a seller and have nothing to say in that manner. They just pass the information they get from HGVCorp. My point still stands: We've yet to see someone who purchases Coylumbridge after the official cut-off date and is denied recognition of Elite by HGVCorp. I'm unconvinced anyone will be denied, given current wording in the Disclosure (which is a legally binding document).

He added "This purchase is HGVC elite credit eligible" to each of the contract signature pages. I decided to remove the image so that his signature isn't on a public page.

 

[HuskerATL]

Please note that the purchase agreement doesn't say anything about Elite recognition. They're just a seller and have nothing to say in that manner. They just pass the information they get from HGVCorp. My point still stands: We've yet to see someone who purchases Coylumbridge after the official cut-off date and is denied recognition of Elite by HGVCorp. I'm unconvinced anyone will be denied, given current wording in the Disclosure (which is a legally binding document).

And just to add, that legal language, to me, speaks to retail purchases not resale. I think the resale purchases from them has just been allowed because it isn't normal for HGVC to sell resales...they take resales as trade ins and sell them as retail again so these affiliate offices are allowed to do that for their owners and they are just closing that elite-eligible loophole but we will see when future resale purchases occur.

 

[CalGalTraveler]

MVC has also had lags in enforcing rules internationally. Owners were able to buy deeds to requal in Spain and a few other countries that were not possible in the USA. MVC honored them.

 

[Nowaker]

This is added to each of the contract signature pages:

I guess you specifically asked them to include this wording? This kind of wording on agreements has not been a standard.

 

[HuskerATL]

I guess you specifically asked them to include this wording? This kind of wording on agreements has not been a standard.

Nope. He added it. I think because it was close to the deadline and I had told him my interest in it.

 

[WORLD TRAVELER]

I guess you specifically asked them to include this wording? This kind of wording on agreements has not been a standard.

HGVC in the UK is also known as Hilton International Grand Vacation Club (HIGVC). The resales division standardly included wording in the purchase agreement that the properties being purchased are Elite Eligible for those people purchasing so that Corporate would know and tie the Elite status to the purchase on the backend.

It's too bad this option is being closed for the Scotland and South Florida properties. Hilton previously closed the option of resale qualifying properties in the rest of the USA back in 2006. Prior to 2006, one could purchase resale Vegas, Orlando and Hilton Hawaiian Village Lagoon Tower to qualify for Elite. Back then there was only one tier of Elite. Later Hilton added Elite Plus and Elite Premier.

 

[Grammarhero]

Just to come back to this, I did rescind the Kohala Suites "upgrade" and instead bought several Craigendarroch weeks before the deadline today. Today is the deadline for Scotland properties to count for elite. We will find out if they count for Max. It is interesting because in my mind they fall in two categories; HGVC-branded and Voluntary. If they fall under the "If you made a purchase at an HGV-branded Sales Center after April 4, 2022, you will automatically have access to HGV Max." category or the "Points associated with your voluntary Club membership are not eligible for HGV Max" category, then we won't. Technically, the Scotland office is a HGV-branded sales center but they are also voluntary.

Mind sharing how much you saved with rescission?

 

[HuskerATL]

Mind sharing how much you saved with rescission?

Well, I didn't spend the $25k that they wanted from me to trade in my two Blvds for the Kohala. Instead, I bought about 46k points from Craigendarroch for about $15k and still have the Blvds....so I saved about $10k and ended up with a bunch more points...and more MFs.

 

[WORLD TRAVELER]

Well, I didn't spend the $25k that they wanted from me to trade in my two Blvds for the Kohala. Instead, I bought about 46k points from Craigendarroch for about $15k and still have the Blvds....so I saved about $10k and ended up with a bunch more points...and more MFs.

You had the fortunate timing of being able to add the resale points, gain Elite Premier Status and with your previous retail purchase, be able to add Max in the future with the buy in option. Well done!

 

[HuskerATL]

You had the fortunate timing of being able to add the resale points, gain Elite Premier Status and with your previous retail purchase, be able to add Max in the future with the buy in option. Well done!

Thanks. That was the plan with the points/elite....now, I am crossing my fingers that they may toss in Max....

 

[HuskerATL]

You had the fortunate timing of being able to add the resale points, gain Elite Premier Status and with your previous retail purchase, be able to add Max in the future with the buy in option. Well done!

I didn't want to say too much until I knew, for sure, that it would happen but it finally came through. So, saved $10k compared to the other purchase, got many more points and Elite Premier. Now I am waiting for the Max Welcome Email....