Posts Tagged ‘Points’
Reposted By: Global Exchange Vacation Club
Buying a Timeshare – RCI Points vs RCI Weeks Author: shinyumi
Since RCI Points are the standard for timeshare vacations when it comes to the point system, lets take a look at points versus timeshare weeks. First, lets look at the primary benefit of timeshare points which is the flexibility. With points, you are not limited to a timeshare pass in the same place apiece year and at the same time apiece year.
RCI Weeks owners have their timeshare unit and week and that is where they will be apiece and apiece year, unless they decide to do an exchange to another resort. There is a lot to be stated for knowing where you will be and not having to waste even an hour of your pass time getting oriented apiece year. If your Weeks timeshare is the perfect spot for you and you dont want any surprises, then RCI Weeks is the place to be.
RCI Points also offer flexibility is unit size. Perhaps you always like to pass with the same number of people. For instance, you might be a couple whose kids have grown and gone and you like your special getaway with just apiece other apiece year. If you have a RCI Weeks one-bedroom unit, then you have the perfect excuse for not inviting people to come and pass with you as you take a second (or third or fourth) honeymoon.
However, with a RCI Points system, you can select any unit size that your Points grant and if you want more than your Points grant you can rent or purchase more Points. Global Exchange Vacation Club offers RCI Points.
Almost always, RCI Weeks owners have to use their entire week annually. There is the option of banking the week though an exchange company. RCI Points members can book their getaways one night at a time. If they have the Points, they can even book an entire month. Another benefit that Points have over Weeks is that you can book your Points pass any time of the year.
The only limitation is availability.
If you have a Weeks pass at a high demand time of the year you are assured that your space will be available. With RCI Points, you have to plan ahead as the pass spots are allocated on a first-come first-served basis. While you will have a priority window between 11 and 13 months out at your home resort, if you are looking to travel somewhere else or just can’t commit that far in advance, it is doable that you won’t be healthy to book your first choice resort during high demand holidays.
Your lifestyle will likely have a lot to do with which plan appeals to you. RCI Points offer perks that Weeks do not such as being healthy to exchange them for airfare or automobile rentals or cruises. Also, they grant for great last minute deals when there are Points sales. If you have a flexible lifestyle and can go on pass with very short notice, then Points are for you. If you like the set time and place so that you can plan ahead and anticipate, then Weeks are for you.
About GEVC Vacation Exchange Club: A leader in the pass exchange club industry, Global Exchange Vacation Club (GEVC) has been branded by RCI. Vacations through our alliance with RCI points offers a variety of flexible getaway opportunities that await our pass exchange club members. Your global pass ownership will open the door to a flexible reservation system offering first class accommodations, travel and recreation!
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Hilton Grand Vacations Company, LLC markets and operates the Club, which is a points-based pass ownership and exchange system that is a wholly owned subsidiary of Hilton Worldwide, formerly known as Hilton Hotels Corp. HGVC also provides property management services to Club and Affiliate resorts. At the date of publish, there are 50 HGVC affiliated resorts worldwide!
Hilton Worldwide was bought in July 2007 by the Blackstone Group LP (stock ticker symbol BX) in a deal valued at Billion. Blackstone also owns a number of other well known companies including Universal Studios Parks, Legoland, Madame Tussauds, Houghton Mifflin Harcourt Publishing, Allied Waste, Pinnacle Foods, and even the Weather Channel!
Early History of the Brand:
In 1919 Conrad Hilton went to Texas to take advantage of the oil boom. When he arrived, he found the local hotels so overbooked that he could not secure a room! One hotel owner told him that he wanted to sell. Within a week, Conrad had place together an investment group and bought the Mobley Hotel in Cisco, Texas. Business continued to boom and the next year Conrad bought two more Texas properties, the Melba Hotel in Fort Worth and a hotel in metropolis titled after the famous Waldorf. Thirty years later, Conrad came full circle when he
bought the lease on the actual Waldorf-Astoria!
Conrad’s ambition and business savvy created an empire of wealth so vast that even the legendary spending of his second wife Zsa Zsa physicist and great granddaughter Paris Hilton haven’t prefabricated a dent in the family fortune! Today, this behemoth brand owns, manages, and franchises thousands of hotels and the Hilton study continues to be one of the most recognizable in the world.
The Timeshare Resorts:
HGVC destinations offer both developed and affiliated resorts. Most people don’t realize, but only a few timeshare resorts have actually been built and developed by the Hilton brand. The majority of Hilton Grand Vacation Club properties are actually affiliate resorts. These resorts were developed by other companies, and then later entered into an affiliation agreement to participate in the Club. HGVC manages many of the affiliated resorts, but not all of them. Regardless of the original developer, you can be assured that all affiliated resorts conform to the high standards and renowned luxury of the Hilton brand, earning numerous honor designations such as RCI’s coveted Gold Crown rating!
Affiliation and reciprocal usage agreements are always subject to future change, but at the time of writing this article the HGVC pass destinations include:
Grand Pacific Marbrisa
Grand Pacific Palisades
Carlsbad SeaPointe Resort
Palm Desert, California:
Club Intrawest Palm Desert
Valdoro Mountain Lodge
HGV Club at SeaWorld International Center
HGV Club on International Drive
Parc Soleil by Hilton Grand Vacations
Miami Beach, Florida:
HGV Club at South Beach
Plantation Beach Club at Indian River Plantation Resort
Captiva Island, Florida:
The Cottages at South Seas Island Resort
Harbourview Villas at South Seas Island Resort
Plantation Bay Villas at South Seas Island Resort
Plantation Beach Club at South Seas Island Resort
Plantation Home at South Seas Island Resort
South Seas Club at South Seas Island Resort
Fort Myers, Florida:
SeaWatch on the Beach Resort
Marco Island, Florida:
The Charter Club of Marco Beach
Club Regency of Marco Island
Eagle’s Nest Beach Resort
Sunset Cove Resort
The Surf Club of Marco
Sanibel Island, Florida:
Casa Ybel Resort
Hurricane Home Resort
Sanibel Cottages Resort
Shell Island Beach Club Resort
Tortuga Beach Club Resort
Club Intrawest Sandestin
Island of Oahu, Hawaii:
Hilton Hawaiian Village- Kalia Tower
Hilton Hawaiian Village- Lagoon Tower
Huge Island of Hawaii, Hawaii:
HGV Club at Waikoloa Beach Resort
King’s Land by Hilton Grand Vacations
Bay Club at Waikoloa Beach Resort
Las Vegas, Nevada:
HGVC at the Flamingo
Hilton Grand Vacations Club Las Vegas
HGVC on the Las Vegas Strip
New York City, New York:
The Hilton Club New York
West 57th Street by Hilton Club
British Columbia, Canada:
Club Intrawest Whistler
Club Intrawest Tremblant
Fiesta Americana Villas Cancun
Fiesta Americana Villas Acapulco
Los Cabos, Mexico:
Fiesta Americana Villas Los Cabos
Yucatan Peninsula, Mexico:
The Explorean Kohunlich
Club Intrawest Zihuatanejo
Hilton Vilamoura Vacation Club
Introduction to Ownership, System Rules, and Usage Strategies:
The First Rule of Timeshare is that ownership should never be considered a financial investment in real estate. Timeshare properties do not generally appreciate over time. Often, the only true gauge of a timeshare’s value is your usage and enjoyment of the property, and in the pictures and memories of your astounding vacations!
The Club is in reality just a point based reservation system. Club members receive a point allotment based on the villa type and season they own (or have reserved in some cases) at their home resort. As with any point system, proper planning can greatly enhance your usage and satisfaction. It’s important to comprehend the different ownership types available, the benefits of ownership, the basic rules of the system, as well as some strategies that current owners utilize to maximize their usage and enjoyment.
When learning about this system, the distinction between HGVC developed resorts and HGVC affiliated resorts becomes important. The ownership and usage rules might be quite different depending on which home resort you own. For example, some of the affiliated resorts located in the southwest region of Florida were originally sold as fixed week timeshares. For fixed and event week ownerships, the home week is automatically reserved apiece year unless the owner cancels the reservation. Most HGVC developed and built resorts are all sold as floating week timeshares. The underlying ownership is always based on the home resort. Because of this, usage strategies will vary slightly based on your home resort.
The deed itself might also vary from resort to resort. Some ownership documents show a specific week and unit, even if they are just used for inventory purposes. HGVC at Seaworld is an example of this type of deed. Other ownership deeds don’t have an assigned week and unit, but instead show a usage type in a specific villa size. HGVC on International Drive uses this second type of deed format.
Finally, when you think about the international affiliates Fiesta Americana resorts in Mexico- these properties are sold as non-deeded right to use leaseholds with a specific expiration date when your usage will end. Also, it’s very important to comprehend that Elite Status designation can't be obtained via resale buys and that not all affiliate resorts grant the Club membership rights to transfer on the resale market. For example, the Carlsbad affiliates do not grant the HGVC point usage to transfer to a buyer but the Fiesta Americana contracts do grant the point usage to transfer. Another distinction is that some affiliates require a 9. reconversion fee be paid to Hilton after the transfer deed is recorded, in order for the new owner to be enrolled into the Club and have the capability to convert their week into Club points.
If you are not sure what type of ownership exists at a specific resort, consulting with an experienced real estate broker or associate is something that you need to do before you buy! Contact us with any questions you might have.
Generally, there are four main season obloquy that are used by HGVC: Platinum, Gold, Silver and Bronze. The particular weeks that start within these seasons will vary depending on the resort. Some locations will have all four seasons, while others might only be divided into two or three seasons. The real confusion begins with a few of the affiliates. Some affiliate resorts were originally sold with different season designations than those used by Hilton. Also, a few of these resorts might have a float season that encompasses weeks which start into different HGVC season designations. It’s doable that an owner might have the capability to reserve a week in part of the platinum and also the gold season. For these ownerships, the amount of Club points the owner receives might actually vary from year to year depending on the actual week that is reserved. The good news is that this example is the exception rather than the rule.
The Club Point values for the weeks, seasons, and unit sizes for apiece Club resort can be found in
the published Member’s Guide http://www.hiltongrandvacations.com/mg/. Most resale buyers tend to focus on the Hilton built properties, to refrain confusion and ensure they receive a consistent number of Club points apiece year.
There are different ways to exchange your ownership week for another resort. The easiest way is often simply using the Club points to reserve at another Club affiliate. To go outside the Club, a third celebration exchange system must be used such as RCI, Interval International, or a smaller system such as SFX Resorts. Your home resort will determine which exchange systems you have access to as an owner.
Maintenance fees are determined apiece year based on the overall operating budget of the home resort. Fees can vary widely from one resort to another, and these assessments will vary from year to year. Maintenance fees will increase over the years. You should always think about maintenance fees before making a decision to purchase, and should compare fees between several resorts as part of your research. In some cases, the annual fee can actually be more important over time that the negotiated purchase price! You can find additional information about the variation of fees HERE.
Generally, the unit type and size determines the base maintenance fee amount, not the point allotment. A one bedroom villa in the platinum season will be assessed the same base maintenance fee as a one bedroom in the silver season. Only the property tax is likely to vary because of the season, so the tax assessment does create a slight difference between the one bedroom platinum and the one bedroom silver. It’s often a good buyer strategy to purchase a 1 bedroom platinum season ownership rather than a 2 bedroom lower season week, even if the 1br
villa has a higher purchase price! Your brokerage can help you compare different scenarios to determine which property ideal meets your needs and your budget.
There can also be some differences in when fees are paid from resort to resort. A good example of this is can be seen in ownerships at the Bay Club at Waikoloa. For a Bay Club owner to borrow points from a future usage year, they will have to prepay an estimated amount for the next year’s maintenance fees (any difference from the estimate is paid or credited at the time the fees are actually billed). International owners at Craigendarroch can't prepay, so are unable to borrow from a future allotment. An owner at HGVC at SeaWorld can borrow next year’s points without paying the equivalent annual dues as long as their statement is current at the time of reservation.
Club dues must also be paid apiece year. For most resort, members living in the US and Canada are currently charged . while members living outside the US or Canada are currently charged 9. (West 57th owners are charged 7. and 2. respectively). Members who own a US resort and also an international resort might be required to pay Club dues for apiece statement as the two systems might not be healthy to be combined into a single billing account. This is very rare and seems to be a system glitch rather than intentional.
Finally, point systems also have incidental fees that might be charged for various services and transactions such as making club reservations, point rescue, changeable option reservations, guest certificates, and RCI exchange system deposits. It also is a good intent to ask about resort specific fees such as parking fees and tourist taxes prior to confirming a reservation. If you aren’t aware prior to arrival, parking fees at destinations like New York and South Beach can be quite a surprise!
Hilton Grand Vacations Club has five reservation types.
Home Week Reservations are a full seven night stay in the exact unit type and season owned at your home resort. Reservation can be from nine months up to one year out of your check in day. The required check in day varies from resort to resort. Because owners get a longer reservation window at their home resort, it’s often a good intent to purchase at the resort you believe you will use most often, in the unit and season that ideal meets your future plans. Home week reservations have the greatest opportunity at finding availability, other than fixed and event week ownerships.
Home Resort Reservations are currently only acquirable to owners of the West 57th by Hilton Club resort in New York City. There is no minimum stay stipulation for these reservations, but the reservation must be prefabricated at the West 57th resort. These reservations might be prefabricated from 45 days up to nine months in advance of the check out date.
Club Reservations can be prefabricated up to nine months prior to the requested check out date at most resorts. Club reservations must be for three days or greater in duration. Reservations can be prefabricated at most resorts during this period (West 57th in New York for example, only grants Club Reservations to be prefabricated up to 44 days prior to the check out date) and all points owners have an equal opportunity to get reservations. You can reserve any type of villa, and in any season- only being restricted by the number of points that you own!
Open Season Reservations can be prefabricated at most resorts (West 57th is excluded) up to 30 days prior to your date of check out and require only a two day minimum stay. These reservations are paid for with cash, but at rates that are heavily discounted! Currently, the 1br open season reservation rate is /night for Sun-Thurs and 0/night for Fri-Sat reservations.
Hilton Honors Reservations are reservations prefabricated via the Hilton Honors system. All HGVC members are given Silver VIP privileges in the Hilton Honors program. Owners can select to deposit their ownership week into the Honors program in return for Honors points which can be used for a variety of services and hotel accommodations into affiliated Hilton brands. These deposits must be prefabricated more no later than December 31st of the year prior to receiving the points. (In other words, the points for the 2010 use year would have to be deposited prior to Dec.
31, 2009). Trading your timeshare ownership week for hotel stays is not generally a strategy that is recommended, but many owners find this perk to be beneficial.
Please review the Member’s Guide http://www.hiltongrandvacations.com/mg/ for the latest point charts and season calendars.
About The Author: Richard Marquette is the editor of the free online entrepot http://vacationtimes.
org which focuses on the timeshare and pass ownership industry.