# Hilton Club offers to buy back



## ccwu (Aug 5, 2014)

I recently got an offer from Hilton to buy back my Hilton Club remaining interest.  Their offer is about 90% the original purchase price perorated the remaining life of the lease agreement to the total life of the lease.  I wonder if any of the other Hilton Club owner got the offer?


----------



## holdaer (Aug 5, 2014)

Are you talking about The Hilton Club - New York?  If so, I think HGVC is looking to buy back these lease agreements to expand regular TS inventory in New York.  I could be misinformed but it does make sense based on HGVC TS model to leverage current assets.


----------



## BCIRIS (Aug 5, 2014)

I hope they are making these offers to all Hilton Club New York owners.  My in-laws own there and want to sell.


----------



## ccwu (Aug 5, 2014)

Contact Judi Kozlowski.  Judi contacted me to give me Hilton's offer.  I bought the resale from her.  I went to a Hilton Club presentation, they offered me the original price if I wanted to upgrade to deed (perpetual).


----------



## ccwu (Aug 5, 2014)

holdaer said:


> Are you talking about The Hilton Club - New York?  If so, I think HGVC is looking to buy back these lease agreements to expand regular TS inventory in New York.  I could be misinformed but it does make sense based on HGVC TS model to leverage current assets.



Yes.  Hilton Club NY at Avenue of America and 53rd Street.  Not the 57th street one.  The 57th Street points can not book Hilton club NY, but Hilton Club can book 57th street and any other HGVC resort.


----------



## ccwu (Aug 5, 2014)

holdaer said:


> Are you talking about The Hilton Club - New York?  If so, I think HGVC is looking to buy back these lease agreements to expand regular TS inventory in New York.  I could be misinformed but it does make sense based on HGVC TS model to leverage current assets.



I went for a presentation.  The Hilton Club said they are separate from HGVC.  HGVC points and 57th street NY points can not be used here to make reservation.  I have to pay fees for Hilton Club membership fee on top of HGVC club membership.  They are going to expand, but the reservation or usage is restricted to Hilton Club owners only as they are now.


----------



## Sandy VDH (Aug 5, 2014)

They are adding 1 or 2 additional floors of rooms.  They are converting the RTU to Full Deeded ownership.  I was just there 5 weeks ago and spoke to the lounge angels about the construction noise and such.


----------



## LondonAndy (Aug 8, 2014)

I got an e-mail from HGVC a couple of days ago.  It is about three times the amount we paid in the resale market about four years ago.  I think that we'll hang on to it regardless......

_We have noticed that you have not been using your points. If you are considering selling your timeshare interval, please be advised that HGVC has a new option that may be of interest to you. This option is called Cancel Partial Refund. 

With this option we can cancel your contract,  and mail you a check for $19,700.00 NET to you within approximately ten to twelve weeks from the day you decide to execute this option.  This is a very quick and easy option with virtually no waiting time. Although you will no longer be a member of HGVC you will be able to keep your HHonors membership according to their terms of use and at the tier that you have earned directly with HHonors.  Please keep in mind that this offer is subject to change and is not guaranteed for a future date.  If you are interested in this option, please contact us as soon as possible. 

Best regards,

Resale Department
Hilton Grand Vacations
6355 Metrowest Blvd, Suite 180
Orlando, FL 32835
800-579-6129 or 407-722-3721
407-722-3720 Fax
resale@hgvc.com_


----------



## vacationhopeful (Aug 8, 2014)

LondonAndy said:


> I got an e-mail from HGVC a couple of days ago.  It is about three times the amount we paid in the resale market about four years ago.  I think that we'll hang on to it regardless......
> 
> 
> 
> ...


----------



## Omne (Aug 13, 2014)

Upon further reflection, I've removed my post due to a confidentiality clause in the agreement HCNY sent me.


----------



## hvacrsteve (Aug 28, 2014)

*I took the money!*

Pretty amazed by the offer I received!
I never expected to sell it for gain, so it is RTU so I decided I would like my freedom back to go other places we haven't been in a while and we also have another getaway we didn't have before.
I was seeing .80 a point and I just expected it to go down from there.
I love NY and I have fond memories from the Hilton Club.

I don't get to complain about the coffee but until the end of the year!

So I am very happy with the club and maybe I will visit it as a non member!


----------



## Seth Nock (Aug 30, 2014)

Yes, I can help you sell your units back to Hilton if you want to.


----------



## JackieC2 (Sep 27, 2014)

I was offered $13,000 for 7000 points a few months ago. I refused. This week got an offer for $23,000 by email. Wonder if they will give me another offer for more.

I will lose my diamond status unless I buy another timeshare from HGVC which will cost way more than $23K.

However with the $23K plus not having to pay $2K each year for maintenance, I can buy lounge access for lots of nights at the hotel and will still be Gold.


----------



## PigsDad (Sep 27, 2014)

JackieC2 said:


> I will lose my diamond status unless I buy another timeshare from HGVC which will cost way more than $23K.


If you really want Diamond HHonors status, you can get the Amex Surpass card.  With a minimum spend per year, you are given Diamond status.

Kurt


----------



## New Englander15 (Jan 24, 2015)

*We took the buy back offer*

However, that was in November.  The 6-8 weeks to receive our check is now at  eleven weeks and Hilton is forecasting at least until the end of February or into March.  That sixteen weeks and no check from the resale.  In email and phone conversations they attribute the delay to a slowdown in the office where the deed is registered.  

Are any other sellers experiencing this kind of delay in receiving funds?  I am beginning to wonder.  Have we been scammed?


----------



## steve@tug (Jan 24, 2015)

I also got the offer and accepted it. I do not think it is a scam, since it came directly from HGVC corporate. I do recall that when I bought the NY Hilton Club as a re-sale, it took months to complete, so I am not surprised that it is taking this long.


----------



## New Englander15 (Jan 24, 2015)

*Thanks*

Thanks for your reply, Steve, it is reassuring.  Anyone else experiencing these delays?


----------



## piyooshj (Jan 25, 2015)

It looks like super nice deal for those wanting to get out. I wonder why is hilton paying so high? Has ROFR for hcny being invoked for resales?


Sent from my iPhone using Tapatalk


----------



## steve@tug (Jan 28, 2015)

I think it is a question of inventory. They bought the two floors that the club had only leased and one additional floor, but they would like to be able to sell new memberships on all three floors. In order to do so, they have to buy back the RTU contracts on a pro-rata basis and then they can re-sell them at much higher prices. I elected to take the offer, but I admit that I will miss the Hilton Club. We loved staying there and we thought our cost was very reasonable compared to renting a comparable unit with similar amenities. On the other hand, the cash will buy us a lot of nights in NYC.


----------



## pedro47 (Jan 29, 2015)

piyooshj said:


> It looks like super nice deal for those wanting to get out. I wonder why is hilton paying so high? Has ROFR for hcny being invoked for resales?
> 
> 
> Sent from my iPhone using Tapatalk



Take the money and run as fast as you can.


----------



## steve@tug (Jan 29, 2015)

Yes, they do invoke ROFR for the HCNY. My re-sale purchases needed to pass muster and that was before the club decided to buy rather than lease the floors in the Hilton Hotel, which is the reason they are now buying back RTU contracts.
I disagree with Pedro47--it is not a no-brainer to "take the money and run" IF you always use the club to stay in NYC and you prefer that level of accommodation. Given my age and health situation, for me, the decision was clear, but if I had a reasonable expectation to use the club for another 20 years, I would have kept one of the contracts.


----------



## brp (Jan 30, 2015)

steve@tug said:


> Yes, they do invoke ROFR for the HCNY. My re-sale purchases needed to pass muster and that was before the club decided to buy rather than lease the floors in the Hilton Hotel, which is the reason they are now buying back RTU contracts.
> I disagree with Pedro47--it is not a no-brainer to "take the money and run" IF you always use the club to stay in NYC and you prefer that level of accommodation. Given my age and health situation, for me, the decision was clear, but if I had a reasonable expectation to use the club for another 20 years, I would have kept one of the contracts.



For us, we still wanted New York, but selling was still the right idea. We bought W. 57th and sold this. We hadn't though so at first, but now feel that W. 57th is a substantially higher quality experience. Much less crowded, significantly better lounge experience, same basic location.

We paid more, quite a bit more, in fact. But W. 57th is deeded and appreciating in value, so we'll likely make money when we finally sell but, at least, get it all back. This would not have happened at HCNY, of course.

So, one can take the money, run, and still have the HGVC quality experience in New York, albeit at higher up-front cost.

Cheers.


----------



## steve@tug (Feb 1, 2015)

You clearly made the correct decision for your circumstances, but for me, W. 57th is beyond my budget, so that is not an option. I more than doubled my money by selling back my HCNY contracts, which was very nice, but keeping them could have made economic sense to me if it were not for the fact that I have almost no chance to use much more of the membership, given my cancer diagnosis. I think that the decision to sell (or trade) is a personal one based on one's individual circumstances, which is why is disagree with a blanket "take the money and run" statement, which presumes that the ownership has less value than the amount gained by selling the membership back. For some people, it clearly is but not for everyone.


----------



## hurnik (Feb 1, 2015)

steve@tug said:


> You clearly made the correct decision for your circumstances, but for me, W. 57th is beyond my budget, so that is not an option. I more than doubled my money by selling back my HCNY contracts, which was very nice, but keeping them could have made economic sense to me if it were not for the fact that I have almost no chance to use much more of the membership, given my cancer diagnosis. I think that the decision to sell (or trade) is a personal one based on one's individual circumstances, which is why is disagree with a blanket "take the money and run" statement, which presumes that the ownership has less value than the amount gained by selling the membership back. For some people, it clearly is but not for everyone.



Sorry to hear about your diagnosis, I truly hope you have a speedy trek back to health!  (My mom just finished her regular chemo with Stage 4 Colon Cancer, so she's No Evidence of Disease, on maint. therapy now).

--Kevin


----------



## steve@tug (Feb 9, 2015)

I got my money today! No worries!


----------



## amisco (Feb 9, 2015)

*Hilton Club Buy Back Reportedly Ended*

I heard from a reliable source that the buy back of Hilton Club New York memberships has ended.  I hope that everyone who wanted to take the offers has done so already.  I think that future resales of these RTU interests will be be on the resale market, still subject to ROFR but at a much lower premium than the recent offers.  

For our ownership we decided to keep the unit because we love going to NYC each year and I will be in my eighties when the RTU contract expires... (I probably will not be going to NYC much at that time...assuming that I am going anywhere...LOL)


----------



## LondonAndy (Mar 2, 2016)

Well, I got made another offer (of three times the amount I paid in the resale market five years ago).  I do like the Hilton Club, but my stay last year was a bit soured, and there are now so many more options for a family to stay in NYC (airbnb for example).

I've now decided to take the money and run and given that the exchange rate is about 10% better if you are selling $ and buying £ than it was when I bought, I'll be even more in the money!

I'll miss the Hilton Gold membership, but guess I'll need to get that through my credit card....

Thanks to everyone for their help when I was first buying and for the advice given here when selling.


----------



## Carlsbadguy (Mar 3, 2016)

Mine was only a little over double what I paid about 8 years ago, but decided to sell it back. Just sent in the paperwork and made my reservations to use up my last 2016 points.  Maybe I should have waited for a better offer.


----------



## Jason245 (Mar 3, 2016)

Now that they are spinning off, I imagine they are going to escalate these buy backs to get these rtu deeds out of system. 

Sent from my SAMSUNG-SM-N910A using Tapatalk


----------



## debbyest (Mar 10, 2016)

*HGVC resale*



LondonAndy said:


> I got an e-mail from HGVC a couple of days ago.  It is about three times the amount we paid in the resale market about four years ago.  I think that we'll hang on to it regardless......
> 
> _We have noticed that you have not been using your points. If you are considering selling your timeshare interval, please be advised that HGVC has a new option that may be of interest to you. This option is called Cancel Partial Refund.
> 
> ...



Ha Ha, Hilton offered to buy back our HGVC timeshare for about 10% of what we originally paid for it!!!  It was not in NYC though!


----------



## LondonAndy (Aug 30, 2016)

Despite me saying that I'm taking the money and running, Hilton aren't being very forthcoming in providing the money!  I sent the signed documents back over 5 months ago, and despite e-mails and voice mails I haven't had the check back.

Eventually I got a message today saying "We are trying to straighten everything out with the Title Company.  Apparently, they are having issues finding the Resale deed from Mr. & Mrs. <<redacted>> over to you in order to deed back to Hilton, but I have been working with the title company to correct this problem."

To my thinking this isn't my problem - they have told me that I can't use the benefits of ownership after signing the documents, but aren't providing the money they promised!  Being in the UK I don't understand the US system of title registration - is there a time after which it is reasonable to expect interest to be paid on the agreed amount?  Is there a time after which the threat of legal action would be justified?  I understand that paperwork gets lost, but this isn't my problem and if they can't find the Resale deed now, how will they find it in one, two, or twelve months?

Any thoughts would be appreciated.  

(At least one good thing has come out of Brexit - if I ever do get the US$ check it will be worth a lot more GB£ that it was six months ago!


----------



## AriMorgan (Aug 30, 2016)

You will not get paid until the title company is done on their end.  If something is missing they have to wait to record it and then you will be mailed a check.


----------

