Hey guys, we are new timeshare owners here. I think we got hustled by the sales team. We are not resort goers but bought because we thought we'd get good value at holiday inn hotels elsewhere. After doing more and more research, it looks like this is not so much the case.
Does anyone have advice on how to make the most of this? It looks like I'll get chump change if I try to sell at this point. I'm feeling kinda overwhelmed right now.
Lets start with the positive. The Holiday Inn Club Vacations has some great resorts and the cost of your yearly use (The maintenance fee) is very reasonable. Since your new I will assume you have a points membership. This is very flexible and allows you to use a few days or save them for a few weeks at a later date. We enjoy the HICV properties very much.
ReplyDeleteNow for a bit of reality. Most of the Time shares can be purchased at a much lower cost on the secondary market, something like e-bay and the like. The maintenance fee will be there in perpetuity, i.e. the rest of your life unless you can find someone else to purchase your interest.
In the future you will find that you do not want to go to one of the resorts and you will have a choice of saving the points for a longer vacation or selling your week on the open market. If you sell it you should be able to get your yearly fees back and maybe make a small profit.
If you have further questions please let me know. I am happy with my purchase and use it frequently, however, I purchased all of my weeks/points on the secondary market and paid for conversion to points.
Thanks for the advice! Yep, we have a points membership. I can say right off the bat, the resorts are not a good fit for us. We thought we'd be able to use this to accommodate our stays at different hotels as we travel around the US/international.
ReplyDeleteWhen you say 'sell your week', do you mean sell the timeshare altogether or sell off the annual allotment of points every year?
Does anyone else use their points to stay outside of the holiday inn resorts?
Do you know of any reputable sites to sell on? Is Ebay the best option?
Thanks again
Hi Raquel,
ReplyDeleteI was referring to selling your vacation points each year. Since you have points you can offer to rent out your time.
You can sell your vacation, however, the value is less than 10% of what you paid HIVC. When you sell your points I believe it reverts back to the deeded week which has less value than your points membership.
If you travel frequently you can covert them to IHG points.
Which location did you buy and what size and when is your deeded week?
Ah ok.
ReplyDeleteWe have a 1 bdrm at the Oak n Spruce resort in South Lee, Mass. Week 4.
See my cost analysis from 2014 on this benefit:
ReplyDeletehttps://plus.google.com/113661430919220897359/posts/Mcpzfd8BegX
We have converted our HICV points to Priority Club and stayed at an average of 9 hotel rooms a yr. The #of PC points needed per hotel stay have gone up so we don't get as many usually 7 nights. Seven nights at Orange Lake would be better but it was best for us at the time. We ended up getting Platinum status with PC so always got upgraded and priority parking. 😊
ReplyDelete