Residence price

[Cyberc]

So we went to an update this week in NYC. They tried to sell us the new residence on the 44th floor.

The price for 7.200 points was 54.900$. They would trade in our 6.200 points in vegas for 27.000$ more than 5times what we paid. Then we would be elite (they said). So our final price would be 27.900$

Since we owned already they would give us an additional 5% discount. The rep also said we would get a lot of bonus points if we signed.

Seems Hilton don't care that much about resales being used towards elite status anymore.

Since we like New York we were tempted to buy but didn't. Maybe in 5+ years we buy NYC. But let's see.

Regards

 

[Tamaradarann]

So we went to an update this week in NYC. They tried to sell us the new residence on the 44th floor.

The price for 7.200 points was 54.900$. They would trade in our 6.200 points in vegas for 27.000$ more than 5times what we paid. Then we would be elite (they said). So our final price would be 27.900$

Since we owned already they would give us an additional 5% discount. The rep also said we would get a lot of bonus points if we signed.

Seems Hilton don't care that much about resales being used towards elite status anymore.

Since we like New York we were tempted to buy but didn't. Maybe in 5+ years we buy NYC. But let's see.

Regards

So I can understand the offer better; they were going to give you $27,000 credit for the Hilton you own in Vegas that you bought resale toward the purchase of the 7200 Point NYC property so you would only have to pay $27,900. If you traded in the 6200 point Vegas property that you bought resale, do you own another Hilton Timeshare that you bought resale?

 

[CalGalTraveler]

So if I understand this correctly they are asking you to pay $27,900 for 1000 more points, preferential reservation access to NYC and elite status - that's $27 per point.

FYI I was in NYC for business earlier this week and stayed at the Hilton midtown hotel on the 43rd floor (1 floor below). As a hotel Diamond I was upgraded to a corner room which was nice. The executive lounge in the lobby was also quite nice. Is this the same lounge that the HGVC Residence Owners use?

 

[GT75]

7.200 points was 54.900$. They would trade in our 6.200 points in vegas for 27.000$ more than 5times what we paid. Then we would be elite (they said).

Are points in The Hilton Club worth the same as in Hilton Grand Vacation Club (HGVC)?

 

[Cyberc]

So I can understand the offer better; they were going to give you $27,000 credit for the Hilton you own in Vegas that you bought resale toward the purchase of the 7200 Point NYC property so you would only have to pay $27,900. If you traded in the 6200 point Vegas property that you bought resale, do you own another Hilton Timeshare that you bought resale?

Yes they would credit me 27.000$ for my resale purchase in vegas. I also own another hgvc in portugal which would also count towards elite.

Regards

 

[Cyberc]

So if I understand this correctly they are asking you to pay $27,900 for 1000 more points, preferential reservation access to NYC and elite status - that's $27 per point.

FYI I was in NYC for business earlier this week and stayed at the Hilton midtown hotel on the 43rd floor (1 floor below). As a hotel Diamond I was upgraded to a corner room which was nice. The executive lounge in the lobby was also quite nice. Is this the same lounge that the HGVC Residence Owners use?

Basically That's correct but we would get access to new York inventory which we normally wouldn't.

The executive lounge is the one on ground floor and that is not the same as the one which the New York club owners use. The New residence owner will have a completely new lounge located on the 44th floor with penthouse view.

Regards

 

[Cyberc]

Are points in The Hilton Club worth the same as in Hilton Grand Vacation Club (HGVC)?

I would say it depends. Depends on if you have no intention of going to NYC then they are worth the same.

If you wish to go to NYC you need west57, residence or New York club points and then your points are not worth the same as you can't book those places. West57 can be book 45 days out but that's only the leftovers.

The New York club and west57 can also be booked through Rci BUT and that's a big but you need to book approx 10 months out and only what's available, and only one booking per day per resort(in total for all Rci'ers). So if I book one stay then no one can book anything else that day. The next day a new arrival day is available. This limits the fame quite a bit.

Regards

 

[thare]

Personally, I always use free nights from a credit cards/hotel points to stay in NYC. Totally not worth it to pay cash or buy a timeshare in my opinion.

 

[Cyberc]

Personally, I always use free nights from a credit cards/hotel points to stay in NYC. Totally not worth it to pay cash or buy a timeshare in my opinion.

We don't travel enough to have points for that. When we do travel it's always with our timeshares. Regards

 

[Tamaradarann]

Yes they would credit me 27.000$ for my resale purchase in vegas. I also own another hgvc in portugal which would also count towards elite.

Regards

Is the HGVC in Portugal a resale? If so I don't think you would get Elite anyway if you made the deal. Furthermore, as most will advise in TUG, buying from the developer to get Elite Status is not worth the extra that you pay than buying resale.

 

[thare]

We don't travel enough to have points for that. When we do travel it's always with our timeshares. Regards

IHG card gives 1 free night every year at any IHG/Intercontinental (2 when you sign up). Hilton (if you spend $10K) gives you a free weekend night every year (+2 when you sign up). With you and your spouse, should be easy 2-4 nights per year at a pricey hotel. Obviously a timeshare is much nicer for a family, but there are some decent cheaper options out there. I say this having had several dozen free nights at hotels across the world.

 

[HC831]

So we went to an update this week in NYC. They tried to sell us the new residence on the 44th floor.

The price for 7.200 points was 54.900$. They would trade in our 6.200 points in vegas for 27.000$ more than 5times what we paid. Then we would be elite (they said). So our final price would be 27.900$

Since we owned already they would give us an additional 5% discount. The rep also said we would get a lot of bonus points if we signed.

Seems Hilton don't care that much about resales being used towards elite status anymore.

Since we like New York we were tempted to buy but didn't. Maybe in 5+ years we buy NYC. But let's see.

Regards

I know everyone says buy resale, and generally that is true, however I made the decision to buy @ Residences direct from developer. Same points level as your offer, but we paid a little less, and got a lot of bonus points (about five years worth). The bonus points made the offer more attractive, and on a net value is a better deal than buying resale in NYC. Our daughter is involved in musical theater and we go to NYC frequently for training/auditions, so owning a timeshare is a more affordable way to cover room nights than paying cash for hotels everytime we are in town ($1,500-2,000 per visit).

If I understand your offer, you would be paying $27,900 for 1,000 more annual points than what you already have (trading in 6,200 poinys in vegas) and greater ability to get NYC nights. Not sure if that's really worth it? Unless you need more control over your selection for NYC stays, I would just try to use your current points for W57 nights.

 

[alwysonvac]

Since we like New York we were tempted to buy but didn't. Maybe in 5+ years we buy NYC. But let's see.

Yeah, I would wait.
Once developer sales are pretty much done, resale prices will come down again as it has before

The only reason New York prices have increased is due to HGVC's decision to get back into the sales game. HGVC bought back NY inventory at greatly reduced resale prices and started reselling them along with adding new inventory (the Residence by Hilton Club). Before Hilton made that decision there was lots of NY inventory at reduced prices via resale (see examples of Hilton Club and West 57th resale prices below).

The following is from Sept 2010 thread "$20K for 7,000 at Hilton Club New York?" -
http://www.tugbbs.com/forums/showthread.php?t=130671

Judy has 22 Hilton Club NY listings and 14 W57th St listings on her site.
http://www.judikoz.com/Search.aspx (search by STATE)

but no one should expect resale bargains on the w57 street location because it's still new.

Look at everything Judy has listed. There are others listed for less than $10K (remember these are asking prices). For example:
MLS# 11066 - 7,000 pt annual for $6500
MLS# 10650 - 7,000 pt annual for $8750
MLS# 10321 - 7,000 pt annual for $8800
MLS# 10436 - 7,000 pt annual for $9500
MLS# 10896 - 9,000 pt annual for $10000
MLS# 9110 - 9,000 pt annual for $11000
MLS# 10751 - 9,000 pt annual for $11250

The following is from an April 2013 thread "Timeshare newbie bought West 57th!". They bought 3750 points at $42,000 - http://www.tugbbs.com/forums/showthread.php?p=1446827

Here are some resale listings from one of our recommended TUG Resale agents for West 57th Street - http://judikoz.com/Search.aspx
MLS #14578 - asking price $14K for 3750 HGVC points
MLS #14842 - asking price $14K for 3750 HGVC points
MLS #12593 - asking price $20K for 3750 HGVC points
MLS #15087 - asking price $25K for 5250 HGVC points
MLS #11897 - asking price $30K for 5250 HGVC points
MLS #14878 - asking price $33K for 5250 HGVC points

 

[Cyberc]

I know everyone says buy resale, and generally that is true, however I made the decision to buy @ Residences direct from developer. Same points level as your offer, but we paid a little less, and got a lot of bonus points (about five years worth). The bonus points made the offer more attractive, and on a net value is a better deal than buying resale in NYC. Our daughter is involved in musical theater and we go to NYC frequently for training/auditions, so owning a timeshare is a more affordable way to cover room nights than paying cash for hotels everytime we are in town ($1,500-2,000 per visit).

If I understand your offer, you would be paying $27,900 for 1,000 more annual points than what you already have (trading in 6,200 poinys in vegas) and greater ability to get NYC nights. Not sure if that's really worth it? Unless you need more control over your selection for NYC stays, I would just try to use your current points for W57 nights.

Hi

When you say you paid a little less, did you when trade-in a previous HGVC timeshare or was the price just lower?

How much is the MF for the 7200 points, and are they for a studio if so in what "time"? silver, gold or platinum?

regards