Royal Holiday not returning initial investment

[acc24]

I have owned my Royal holiday Silver membership for 28 years. My contract ended this December because I “accelerated” twice and it shortened my contract term by taking points from the last year each time. I have been trying for a month to get my initial investment of $9,975 back that I was being told was held in an Annuity and would be returned upon the completion of the contract. I was referred to a company called Granthix LTD who apparently handles this but they only reply to email, have no website or contact info. I am looking for help, advice or guidance in this matter. Thanks

 

[SmithOp]

You could try a complaint with the BBB, they seem to have a phone number for Granthix.

Granthix Capital Financial Services | BBB Business Profile | Better Business Bureau

Not BBB Accredited. Financial Services in Coral Gables, FL. See BBB rating, reviews, complaints, and more.

www.bbb.org

 

[dioxide45]

Ahhh, those timeshare annuities that someone was touting here a while ago. Let us know how it turns out. They have very strict rules and something tells me they will come up with just about any excuse not to pay. What are the real options for remedy? Not much because I suspect this was in Mexico?

 

[acc24]

You could try a complaint with the BBB, they seem to have a phone number for Granthix.

Granthix Capital Financial Services | BBB Business Profile | Better Business Bureau

Not BBB Accredited. Financial Services in Coral Gables, FL. See BBB rating, reviews, complaints, and more.

www.bbb.org

Thank you. I have seen hundreds of complaints with the BBB regarding Royal Holiday, hopefully I will get somewhere. I am so frustrated that it has come to this.

 

[acc24]

Ahhh, those timeshare annuities that someone was touting here a while ago. Let us know how it turns out. They have very strict rules and something tells me they will come up with just about any excuse not to pay. What are the real options for remedy? Not much because I suspect this was in Mexico?

Thank you for replying. Yes. I was living in Monterrey, Mexico at the time. Young and naive, plus they pursued us relentlessly for 3 days. Royal Holiday will not discuss the Annuity AT ALL. They refer to Granthix LTD who only can be reached by email. They are asking for a specific ‘certificate’ that I don’t have. I have my original contract and an Annuity coupon but they are saying I need another document. I have been divorced and moved 8 times in the last 28 years so I don’t know if I ever had the document they are asking for but it seems to me there should be record of my Annuity funds regardless. I held up my end of the contract through completion so hopefully I can get them to hold up theirs.

 

[geist1223]

I do not know but guess they will say you did not hold the Timeshare for the full term by your acceleration of a couple years.

 

[acc24]

Thank you. I have seen hundreds of complaints with the BBB regarding Royal Holiday, hopefully I will get somewhere. I am so frustrated that it has come to this.

I do not know but guess they will say you did not hold the Timeshare for the full term by your acceleration of a couple years.

No. I was given a Silver membership, typically reserved for seniors that allows for accelerating the contract by paying the annual dues in advance and using the points off the back end of the contract. I did this twice which took two years off the contract term. Royal Holiday terminated the contract on December 31, 2023.

 

[bnoble]

They might have a record of it. But, that probably doesn't matter, because in all likelihood, they never intended to pay this off, and have a variety of picky hoops that they can make you jump through (some of which are likely to be close-to-impossible) to remain eligible for the payoff. And that's if it is even possible.

 

[Fido Chuckwagon]

They might have a record of it. But, that probably doesn't matter, because in all likelihood, they never intended to pay this off, and have a variety of picky hoops that they can make you jump through (some of which are likely to be close-to-impossible) to remain eligible for the payoff. And that's if it is even possible.

Yeah, it’s this. These annuities are all scams. If this were a US based company you’d have more recourse (which is likely why we haven’t seen something this egregious in the US timeshare market). In Mexico? There’s no way you’re getting the Mexican authorities to go after them and good luck attempting to initiate a lawsuit for $9,800 in a Mexican Court.

 

[bnoble]

I suppose you could complain to PROFECO and see what happens, but I would not spend too much time on this.

https://consulmex.sre.gob.mx/montreal/index.php/en/foreigners/services-foreigners/318-consumer-protection

 

[Alison2009]

I have owned my Royal holiday Silver membership for 28 years. My contract ended this December because I “accelerated” twice and it shortened my contract term by taking points from the last year each time. I have been trying for a month to get my initial investment of $9,975 back that I was being told was held in an Annuity and would be returned upon the completion of the contract. I was referred to a company called Granthix LTD who apparently handles this but they only reply to email, have no website or contact info. I am looking for help, advice or guidance in this matter. Thanks

Hi, do you have an update? I am going through the same thing and I think that Granthix doesn't exist? Anything you learned would be helpful. Thank you

 

[Bhurt]

I have owned my Royal holiday Silver membership for 28 years. My contract ended this December because I “accelerated” twice and it shortened my contract term by taking points from the last year each time. I have been trying for a month to get my initial investment of $9,975 back that I was being told was held in an Annuity and would be returned upon the completion of the contract. I was referred to a company called Granthix LTD who apparently handles this but they only reply to email, have no website or contact info. I am looking for help, advice or guidance in this matter. Thanks

Did you get anywhere with this? I’ve had Royal holiday for 15 years. I’d like to get out of it. It’s paid off, but the maintenance fees are too high. Not sure what to do?

 

[LannyPC]

I’d like to get out of it. It’s paid off, but the maintenance fees are too high. Not sure what to do?

It's likely that this is just a club membership and not deeded property. If that is the case, your best way to "get out of it" is to just stop paying your membership fees and let the membership lapse. The downside is that you might face a bunch of annoying collection calls and letters put that is just a lot of bark and no bite.

 

[Bhurt]

It's likely that this is just a club membership and not deeded property. If that is the case, your best way to "get out of it" is to just stop paying your membership fees and let the membership lapse. The downside is that you might face a bunch of annoying collection calls and letters put that is just a lot of bark and no bite.

It is a membership. No deeds. Just 15,000 points a year.

 

[LannyPC]

It is a membership. No deeds.

Thanks for clarifying that. So again, the recommendation is to just stop making payments and let your membership lapse.

 

[blancoh1973]

Does anyone have any new information about Royal holiday Granthix certificates I been a member for 20 year the maintenance fees keep getting higher and higher every year,I been researching about Granthix I think it does not exist, is there way to sue this scammers?

 

[timeshare trader]

They might have a record of it. But, that probably doesn't matter, because in all likelihood, they never intended to pay this off, and have a variety of picky hoops that they can make you jump through (some of which are likely to be close-to-impossible) to remain eligible for the payoff. And that's if it is even possible.

Some of the gotcha's include 1. In event of a spouse passing you must notify the annuity company within ten days 2. If you change your name you must notify them in 10 days 3. If you divorce you must notify them 4. If you move you must notify them etc...