Illegal contract
Don’t buy, or refund ASAP. Holiday Systems International is a high pressure sales outfit that then SLAMS the door closed if you have second thoughts. We purchased a 15 year lease with 25 weeks for $4075 in Playa del Carmen, Mexico. We were staying at the The Reef Playacar, in the Mexican Riviera. We own a timeshare at The Grandview Las Vegas, and maintain a membership with RCI.
I understand that buying a timeshare can be a scary prospect, and the industry has resorted to sales tactics that border on kidnapping, but we have fully enjoyed our RCI timeshare. My wife doesn’t like to camp, so I like to compare costs as equivalent to owning an RV. The cost of gas to haul, insure, store, and maintain an RV is actually higher than the annual fees on our timeshare. And the good news is a timeshare is real property that generally doesn’t depreciate like an RV.
Now Holiday Systems International (HSI) is a different story. After we bought, I did a lot of internet research. My overall impression is it is “timeshare-lite” without the equity. More like a destination club. It’s a privately owned company without stock traded in any stock exchange that I could find. Origin 1993. Joined BBB of Nevada in 1995. Has A- rating last I checked, but has accumulated complaints. $6.6 million in annual sales per a business website. Employ about 100 to 200 people. Not that big a company in my opinion. HSI has sponsored ARDA events and a bicycle racing team, Team Pro Cyclery. A little unsettling to think that its possible they could close their doors tomorrow.
The specifics of our case reads much like others. When we called HSI in Nevada, we were directed back to the resort. Numerous phone calls later, I was able to reach a sales representative once. The “front-man” of the operation told me to call back (the office was closed, which was true), but he claimed he didn’t know the fax number there. How lame. Good way of blocking a cancellation letter though! Further calls were made the next day, messages left at least four to five total, but no call backs. A total joke of an operation. Nevertheless, we have now disputed the charges with the credit card company. The contract was illegal. Did not allow 5 business days to rescind as stipulated by Mexican law and PROFECO. This is a right that can not be waived. Our attempts to cancel were on the fourth and fifth business days. HSI will not be allowed to do this to us, and shouldn't be allowed to do it to anyone else!