Experience adding resale units to HIC membership

[Jimster]

I think I know the answer to this question but i am interested in other’s experiences. Has anyone been successful in buying resale HIC units to their account to increase their point total? This would include adding Silverleaf units or Orange Lake units. In part the ROFR would limit or virtually eliminate this practice. Then there is the matter of the trust.

 

[Sandy VDH]

See this thread. Most resales in HICV lose there points and revert back to weeks on resale.

https://www.tugbbs.com/forums/index...ch-resorts-keep-their-point-as-points.283719/

 

[Jimster]

See this thread. Most resales in HICV lose there points and revert back to weeks on resale.

https://www.tugbbs.com/forums/index...ch-resorts-keep-their-point-as-points.283719/

Ok. So if i buy one of those 3 resorts by resale which stay as points, do the points add to my account total and move up my status? Is this automatic or do i have to buy something with HIC to include those units? Is this true since the trust?

 

[Sandy VDH]

Ok. So if i buy one of those 3 resorts by resale which stay as points, do the points add to my account total and move up my status? Is this automatic or do i have to buy something with HIC to include those units? Is this true since the trust?

i have not done this myself, but that is my understanding, you purchase resale only.

Since the trust? Don't know what you mean by that statement.

 

[Jimster]

Within the last year or two, HIVC has established a trust to hold the units. My understanding is that this has changed the ballgame.

 

[Sandy VDH]

Within the last year or two, HIVC has established a trust to hold the units. My understanding is that this has changed the ballgame.

No idea, perhaps others with knowledge will comment.

 

[tschwa2]

Resale points at the 3 mandatory points resorts will increase your points but will not increase your status. It may temporarily bump you up but as soon as they audit your account you will lose any increased status due to resale points. In the past resale points have increased status but in the last 2 years they have been pretty good going through audits so it is unlikely to increase status for more than a few months if at all.

 

[Sandy VDH]

I had to go research the Trust, I have no idea.

I have never once been to an HICV sales presentation. My one week in HICV is a vegas week, that through several ownership changes has morphed into an HI. All for a unit that a bought a decade ago for $100. Then paid $100 more to make it HICV points, when I was offered. But since I never intend to buy points from a developer ever again, I really don't care about status and levels of HICV ownership.

I see that the Trust is basically a pooling of available weeks: either new builds or acquitions, unsold existing inventory, or deed back units to HICV. Does HICV have ROFR?

The trust then is taking all those sources of points and putting into a pool and the MF and any SA are averaged over the points. It is the only way to make off season weeks sustainable, palatable for consumption and thus sell-able. So some owners do better by owned deeded weeks, other might do better with Trust points.

I own Wyndham and know Wyndham well. They have been doing this for many years now, it is a product that they call Club Wyndham Access (CWA). In Wyndham world resales of CWA retain points when resold.

I do not know what happens in the HICV world. Has any newly purchased Trust sales ended back up in resales yet?

 

[tschwa2]

I do not know what happens in the HICV world. Has any newly purchased Trust sales ended back up in resales yet?

I don't think so but HICV wrote the trust to be very restrictive for resales. HICV trust resales do have access to trust inventory at 6 months (not 10 like everyone else) with resale but not full access to all HICV inventory. You also can't give a week to anyone. Owners are the only ones able to check in on a resale trust reservation. You also have no ability to bank or borrow if you own trust resale. I believe there is also a fairly high fee to transfer a resale trust.

Basically HICV did everything they could to make it as unattractive as possible to use once resold. The only way to get the full value is to purchase these direct from HICV.