Following the acquisition of Diamond Resorts by Hilton Grand Vacations the first noticeable difference has been announced in the form of an adjustment to the points required for HGV members to book into former Diamond resorts.
In essence this is just an accounting exercise in order to bring the numerical Hilton points in line with Diamond. Hilton has gone to lengths to explain that the Dollar value of their points remains the same but in pure numerical terms the number has increased. By way of example, below we look at the two ex Diamond Scottish resorts. The lower figure is the original HGV point requirement, the higher figure is the new point requirement:
For the mathematicians amongst you will see a multiplication factor of 1.6, this appears to be the case across all former Diamond resorts, all very complicated! Quite whether this mathematical puzzle will take place across the board or whether there will be a two tier points system dependent on using a HGV property as against a former Diamond resort is unclear. Logic dictates that a single system would be preferable for all concerned, but when has the timeshare industry ever been logical?
From what we gather and by using a hypothetical example, if a single HGV point was worth $1 then 7,000 would be worth $7,000. Under the new regime the price per point would fall to 62.5 Cents, but when multiplying 62.5 Cents by 11,200 the figure reaches the same $7,000 result.
Our comment
Borrowing the title of a 1970 hit by the Temptations, the whole thing is a “Ball of confusion”. How to use your timeshare effectively is confusing enough, this move just adds one more layer. Apart from internal system changes, one is to assume that the exchange platforms will have to adjust their point value to come into line. How many owners will completely misunderstand what is happening, you had 7,000 points now you have 11,200 so you can get better holidays? Wrong, although the number has changed the value hasn’t.
It doesn’t stop with HGV; Club la Costa (CLC) announced an “operational partnership” with Wyndham. CLC use points as do Wyndham, pound to a penny there is no parity between them. A CLC owner wants to trade with Wyndham or vice versa, how is that going to work and so on.
We suppose in an ideal world all developers would band together and create a universal timeshare currency in order for every owner to know exactly what they own, how much in holidaying or trading terms its worth, will this ever happen? Not a chance.
Life is so much easier if you decide where and when you want to go, research the internet to find the best deal, book your accommodation, flights etc and off you go. No upfront “buying in” costs, no annual maintenance, no entering into a Dutch auction or lucky dip as to where or when you end up. Add in the fact that you can also book most timeshare resorts as a non owner on line it becomes pretty obvious that whatever “tweaks” the timeshare industry makes doesn’t change the fact that the whole concept is yesterday’s story.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk