December 13, 2024
Dear fellow Seawatch owners,
Finally, we are able to offer some clarification on the lack of credits to the owner maintenance fee billings for the weeks beginning July 1, 2024. For the duration of the building closure, through June 30, 2024, HGV credited maintenance fees back to owner accounts within 60 days of the end of each calendar quarter. These credits were being posted as a good faith gesture by HGV IN ADVANCE of receiving the business interruption claims reimbursed to our accounts by the insurance carriers. We were notified that beginning with weeks July 1, 2024, that HGV would NOT credit these fees unless and until they received the claim proceeds from the insurance carriers. HGV made this decision because they received information that it was possible that business interruption claim coverage may discontinue sometime between July 1, 2024, and our re-opening date. Contrary to most other resorts in our group, our Board of Directors voted unanimously to continue to apply the credits to the year-end billing statements for the time being, anticipating a prompt resolution to these claims. When we discovered that the fee credits were not applied to the billing statements as we directed, we notified HGV. This is to advise that the credits will be applied to your accounts, hopefully on or about December 16, 2024. HGV has submitted all lost weeks to the insurance carriers, up to the building reopening date of November 16, 2024, and, if necessary, will exhaust all avenues of appeal for any adverse decision against any affected unit-week owners July 1, 2024 through November 15, 2024. As a result of these circumstances, HGV and the Board reserve all rights to re-bill you for the fee credits to unit week owners July 1, 2024 through November 15, 2024 should the insurance carriers fail to timely render a payment to us for any or all of these weeks or decline to continue the coverage for any or all of these weeks. Thank you for your understanding as we navigate through this uncertain situation. Tim