# Fractional ownership?



## nonutrix (Apr 13, 2007)

I just got a brochure in the mail from HGVC on their new property in Manhattan, called "West 57 Street".  Even though the mailer is from HGVC, it says that West 57 is "by Hilton Club".  It also says that it will be fractional ownership.  This is probably a dumb question, but what is the difference between fractional ownership and timeshare?  From the way it is presented in the brochure, I'm wondering if the new property will be part of the Hilton Club rather than HGVC.  Is this part of HGVC's hint that the club will change to the "very core"?  I'd like to know what you TUGers think.

Thanks!

nonutrix


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## Henry M. (Apr 13, 2007)

Most fractional ownership deals I've seen are for several weeks (2 or more) at a particular location. Many locations are higher end than a typical timeshare and often don't have exchange privileges with other locations. Basically you are buying a "fraction" of a particular unit. The properties I've seen (St. Regis Residences, Ritz Carlton Residences) are very nice, but I think for now timesharing is more flexible and more useful to me.


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## Bill4728 (Apr 13, 2007)

Most fractionals require 4 weeks of ownership or more. They tend to be very high end and therefore very pricey. Some are assoc with a TS company  (like Marriotts Grand Residence (GR) ) and can trade for TS but some rarely ever trade (like the Marriott GR in London).

Hope that helps


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## Westin5Star (Apr 13, 2007)

My experience of being offered franctional ownership was at the Ritz.  I went throught the presentation for Kapalua.  It was a minimum of $200,000 for 3 weeks starting out.  The maintainence fees were $5000 a week.  In other words it was $15,000 per year for maintanence fees for the 3 weeks.


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## saluki (Apr 13, 2007)

$260,000 annual MF per unit should be sufficient for upkeep, I would say.


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## Harry (Apr 13, 2007)

*Neat type of ownership*

As mentioned above it is very expensive in hotels and certain condos.  However, it is not a bad deal in some resort areas (San Diago, Hawaii etc.)  We almost bought a quarter of an interest in San Diago Mission Beach.  One of the big problems with fractional ownership is with the management company fees.  Self management (owners get their own local manager) is the way to go and we were actually going to do it with me as the manager.  I could have saved our group over 50 percent of what the real estate company wanted and I would eat all maintenance and upkeep under a certain figure a month.  In addition, personality problems exist as to who is going to stay when. That is where we had problems.  It is a challenge to put these things together legally because local jurisdictions do not know how to treat them.  San Diago has been doing it for years and treats them all as condos requiring CC&Rs etc. Phoenix on the other hand, when Trump wanted to come in and establish these types of ownerships in the Builtmore area, had no idea and was one of the reasons the project was scrapped.


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## kckreardon (Apr 13, 2007)

*Hilton New York*

We received a mail piece today.  We are Elite members and this one was directed to us as such.

The letter indicates that the project is by Hilton Grand Vacations Company.

The brochure we received does say by Hilton Club.  The material we received does not mention fractional membership at all.

The letter says they will offer studio, one bedroom and penthouse units.


Just wanted to add what information we recieved to the mix.


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## nonutrix (Apr 13, 2007)

kckreardon said:


> We received a mail piece today.  We are Elite members and this one was directed to us as such.
> 
> The letter indicates that the project is by Hilton Grand Vacations Company.
> 
> ...



The place to see "fractional ownership" is on the website that they direct you to:

www.west57street.com

nonutrix


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## alwysonvac (Apr 14, 2007)

*Thanks for the info and the link*

I'm not surprised that it's a Hilton Club.

However, I'm just surprised that they had a big spread in the Winter 2006 Grand Times, since it seems that this location won't be available to HGVC members. They should have advertised back then that this is the newest Hilton club addition. I think this will only piss off members that were hoping for a new HGVC location.


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## ohioelk (Apr 14, 2007)

Maybe "Hilton Club" is the name change that they alluded to in the last Grand Times.


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## jehb2 (Apr 17, 2007)

I find this a bit confusing.  On the HGVC website they list NYC as a new location.


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## alwysonvac (Apr 17, 2007)

> I find this a bit confusing. On the HGVC website they list NYC as a new location.



When you type in www.hgvc.com it takes you to www.hiltongrandvacations.com

The Hilton Grand Vacations Company has two club membership programs: Hilton Grand Vacations Club and The Hilton Club. - see http://www.hiltongrandvacations.com/about-hilton-grand-vacations-club.php

I'm just guessing they're using the site to advertise both products. For example, if you look under villa rentals you can find the current Hilton Club in NY - see http://www.hiltongrandvacations.com/vacation-villa-rentals.php

When you look under the Resort Directory it talks about HGVC resorts only. The list includes all of the new locations except New York - see http://www.hiltongrandvacations.com/timeshare-vacation-resorts.php


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## alwysonvac (Apr 17, 2007)

The Hilton Club is located at the Hilton New York Hotel, at 1335 Avenue of the Americas (6th Ave.) between 53rd and West 54th Streets. 

Here's their website - http://www.thehiltonclub.com


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## alwysonvac (Apr 17, 2007)

We can always hope that one of the dramatic HGVC program changes will allow HGVC members access to the Hilton Club.

If not, we still have the hotel reward stays that can be used in NYC.

Actually HGVC Elite Members might get lucky again. One year, The Hilton Club - New York became the selected resort for Elite Members. That year Elite Members were allowed to make point reservation at The Hilton Club - New York. Perhaps Hilton will do that again.


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