Holding Account

Posted on by A Timeshare Broker, Inc.
 
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Think of a holding account as a temporary “parking space” for vacation points from a reservation that was modified or canceled on a date that is close to your reserved check-in date. Restrictions are placed on the points that are returned to the owner as a result modifying or cancelling a reservation close to your check-in date by placing the points in a holding account that places limitations on how the points can be used that vary by the timeshare developer’s rules.

These restrictions, and how far out you have to cancel or modify your reservation varies based on the timeshare developer’s rules for the vacation club you own.

Marriott Vacation Club Holding Accounts

For Marriott Vacation Club owners, in the event that you are canceling within a range of 60 to 1 days prior to your reserved check-in date, any points used for the reservation will be placed into a holding account. If you are modifying a reservation 60 to 1 days prior to your reserved check-in date, any points not used for the new reservation will be put into a holding account.

You can see the various cancellation / modification deadlines in the chart below:

MVC Holding Account Chart
Cancellation / Modification Date
(prior to check-in)		 Penalty Holding Account
61+ Days No penalty No – points used for a cancelled reservation are returned to your account and any points not used for a reservation modification are returned to your account
60 – 1 Days No penalty Yes – points used for a cancelled reservation will be put into a holding account and any points not used for a reservation modification will be put into a holding account
On Check-In Day Forfeiture of
all points		 All points used for the reservation are forfeited and are not returned

Disney Vacation Club Holding Accounts

For Disney Vacation Club owners, in the event that you are canceling within a range of 30 to 1 days prior to your reserved check-in date, any points used for the reservation will be placed into a holding account. If you are modifying a reservation 30 to 1 days prior to your reserved check-in date, any points not used for the new reservation will be put into a holding account.

You can see the various cancellation / modification deadlines in the chart below:

DVC Holding Account Chart
Cancellation / Modification Date
(prior to check-in)		 Penalty Holding Account
31+ Days No penalty No – points used for a cancelled reservation are returned to your account and any points not used for a reservation modification are returned to your account
30 – 1 Days No penalty Yes – points used for a cancelled reservation will be put into a holding account and any points not used for a reservation modification will be put into a holding account
On Check-In Day Forfeiture of
all points		 All points used for the reservation are forfeited and are not returned

Hilton Grand Vacations – No Use Of Holding Accounts

For Hilton Grand Vacations owners, in the event that you are canceling within a range of 31 to 1 days prior to your reserved check-in date, Hilton introduces a penalty that comes in the form of forfeiting your HGV Club Points. You can see the penalties in the chart below.

Resort Cancellation Chart
Cancellation 31+ Days 30 – 16 Days 15 Days or Less
Home Week Priority
(Including Fixed/
Event Weeks)		 No penalty Forfeiture of 50%
of Points used		 Forfeiture of 100%
of Points used
Home Resort Priority Reservations Forfeiture of
reservation fee		 Forfeiture of
reservation fee and
50% of Points used		 Forfeiture of
reservation fee and
100% of Points used
Hilton Club Priority
Reservations		 Forfeiture of
reservation fee		 Forfeiture of
reservation fee and
50% of Points used		 Forfeiture of
reservation fee and
100% of Points used
ClubSeason Reservations Forfeiture of
reservation fee		 Forfeiture of
reservation fee and
50% of Points used		 Forfeiture of
reservation fee and
100% of Points used
Open Season
Rental		 N/A Forfeiture of
50% of rental rate paid		 Forfeiture of 100%
of rental rate paid
 
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