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bHC vs HGVC

Discussion in 'Hilton Grand Vacations Club / HGVC' started by 4Sunsets, Apr 27, 2019.

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  1. David Sa

    David Sa Guest

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    to be more specific about the ROFR...does Hilton look at the total cost to purchase when deciding to exercise ROFR or not? Or do they just look at the net purchase price (purchase price less closing cost )?
     
  2. David Sa

    David Sa Guest

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    also you mention to "check out ROFR.net "...where do I find that?
     
  3. dayooper

    dayooper TUG Member

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    Yes. There is a train of though that says HGVC has a certain budget for ROFR and by the end of the year, the funds start to run low. They have to choose their deals more carefully.

    Not sure. There was a thread previously that delved into that topic. My guess is it would be the cost to acquire the unit (purchase price), but there was conflicting reports on this topic..

    Here you are: rofr.net
     
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  4. CalGalTraveler

    CalGalTraveler TUG Member

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    Yes because they run out of ROFR budget. Also HGVC owners tend to want to sell more at the end of the year when they get their MF bill for the next year and realize that they don't want to pay it anymore. This is an HGVC-wide phenomenon - not just bHC. However, HGVC tends to be more protective of ROFR values of it's NYC bHC properties than other locations.
     
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  5. David Sa

    David Sa Guest

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    obtw "closing cost" are as follows:
    Closing cost $1,765
    Estoppel Fee: 64 - For the benefit of the buyer
    Resort Transfer Fee: 409
    Admin Fee: 99
    2019 Maintenance Fee 1500
    Activation fee 609
    Club dues 176
    Total Fee's due at Closing $4600.approx
     
  6. David Sa

    David Sa Guest

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    I have a general timeshare ownership/title question, so not sure if this is the place but here it is...
    Is it better to list buyer as myself or to include my children as buyers too since they will inherit it anyway to save future cost to them if any when that time comes?
     
  7. dayooper

    dayooper TUG Member

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    Everything looks normal except for the closing cost. Does it cost more to close on a unit in NY? Does that include title insurance? As an example, when I purchased my Flamingo unit last summer, I paid around $750 and that was higher than I wanted too and I had title insurance too. Since I bought in Vegas, I'm not sure if it costs more to purchase in NY.
     
  8. David Sa

    David Sa Guest

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    I got a break down of closing cost like this (actual text) for a similar unit that i am also looking at :coordination fee $350.00 Attorney $850.00 Fee Premium is $342.00 NYS Transfer Tax $50.00 NYC RPT Tax $85.00 Deed Recording Fee $ 177.00 Unit POA Fee $47.00 Deed Recording $150.00 POA Recording $150.00 ACRIS Prep $125.00
    P.S. not sure if this includes title insurance...how can I tell? Is it recommended to have?
     
  9. magmue

    magmue TUG Member

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    Two ways to look at it.

    Save future transfer $ by putting their names on now
    vs
    Give them the option of refusing the timeshare deed after your death is they see it as a burden rather than a bonus. If their name is on the deed, they have no choice - they are on the hook for maintenance fees ongoing.
     
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  10. ccwu

    ccwu TUG Member

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    I own hgvc NYC Residence Club and NYC Hilton Club. Here is what I understand.
    There are two kind of by HC. 57 th Street is not the same as Residence Club. As Residence Club member, I can book any existing or future Residence club in 75 days window and enjoy any Residence Club owner’s lounge I booked into. This is reciprocal. We can not use 57 th street owner’s club while they can not use Residence Club owner’s club.

    We can book the owner’s week 12 months in advance. It has to be exact category in the deed (for us, one week at penthouse one bedroom in platinum season and using up the points, 16,800, in one reservation.) or I can book home resort 1 nights minimum 9 months to 75 days as club reservation or any other hgvc Resort 9 months window with 3 nights minimum. We can convert to Hilton Honor points for next year before 12/31 got 50/1 with all deeded pints (for us 16,800) or nothing. We can convert partial for current year @25/1. To reserve our own Residence club or 75 days window for other Residence Club, we have to use Residence Club point. You can borrow future point the same way. But to reserve home week, it has to use the points of reservation year. If you borrow next year’s point, you lost the right to reserve next years home week. (The sane of hgvc)

    Our Hilton club is different animal. It is owner’s only. I can book home stay for minimum two nights 13 months in advance for any unit (deed is by points, not unit or season). So I could reserve different units for Thanksgiving for two or three nights with multiple units. I could convert any portion of point to 50/1 for next year. Minimum 1 night reservation from 9 months to 1 day. Since there is owners only, we usually can book next week to NYC without much problem. We can book HGVC with Hilton club points at club reservation. There is a separate Hilton club club due. (We pay two club due, hgvc and Hilton club).

    I am not speaking for 57th street by HC since I do not own it.
     
  11. Cyberc

    Cyberc TUG Member

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    Sorry that is not entirely correct. No bHC ownership will give you reciprocal access to owners lounge anywhere else. So owning the residence will not give you access to any other lounge in the HGVC/bHC system. If you buy The residence you get lounge access there and nowhere else. If sales weasels told you this - as their lips are moving their are lying.

    It would however be great if HGVC allowed the reciprocal access to lounges they would also get ppl to book other properties than their own - unfortunately they dont (as of right now)

    There big question for some is if it is worth converting your HGVC/bHC points to Hhonors for 99.9% IMO its a very poor use of points to convert them to Hhonors. Best use is within the system.

    Never ever buy HGVC/bHC to convert to Hhonors on a regular basis.

    I have to see a use case for converting and it actually made sense financially.
     
  12. ccwu

    ccwu TUG Member

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    We are in Waikiki Grand Waikikian now. Went an owner’s update. They have some Penthouse deeds are 50/1 for Hilton honor conversion. They offer higher bonus points too. They could take in up to two or three deeds with certain properties. The Grand Waikikian penthouse unit owner also has their penthouse owner’s lounge (like executive lounge) but I did not hear they mention it is by HC. The grand islander too. Penthouse unit are offered 50/1 conversion.
     
  13. ccwu

    ccwu TUG Member

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    In the NYC owner’s lounge, we met some owners from DC district residence owners quite often. So in this case the salesperson is correct. Sometimes the salesperson may not be lying, it could be HGV changed the policy. The year, 2017, we bought NYC Hilton Residence Club pre-construction, (NYC Residence club opened in June, 2018), sales person told us that as elite premier, we could convert 50/1 at any portion at even current year. HGV changed rule in 2018.

    You are right, we do not buy by HC for 50/1 conversion. We buy it for the location that we want to go. We go to NYC a few times a year. We would only go to places we are interested to go. If there is Residence club in Japan, Waikiki, Chicago, San Francisco, we may go. We use HHonor points to hotel abroad mostly. Sometimes in DC downtown where we could walk to the Mall and capital. Since we are Hilton diamond member, we only like Hilton hotel with executive lounge. We do not go to Georgetown District Residence Club that needs to take a subway to downtown DC. We got plenty of Hilton Honor points from Hhonor credit card. We charged all HGV purchase on credit card and cumulated millions of points. No need to convert. But it is a good option. Just thinking 1000 HGV points for 50,000 points. Our one week in NYC Residence club 16,800 can give us 20 days (stay 4 nights got the 5th night free) in a 50,000 points hotel. It is not bad exchange.
     
  14. bogey21

    bogey21 TUG Member

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    My thoughts exactly...

    George
     
  15. brp

    brp TUG Member

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    Maybe District folks get access to other District location lounges and Residences get other Residences? Or maybe District and Residences are all interchangeable since they seem to be paired in some ways?

    It is certainly true that W.57th won't get District/Residences and vice versa.

    Really there are, effectively, three different bHC clubs:

    HCNY
    W. 57th
    District/Residences

    with different rules within and among.

    Cheers.
     
  16. ccwu

    ccwu TUG Member

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    It is all current and future Residence club by HC can reciprocally access all other Residence Club owner’s lounge. I only know currently has NYC Residence club, DC district Residence Club and Chicago Residence Club. We were told that there are more Residence Clubs to come. They are all by metropolitan area.

    You can refer to HGV club rules page 5.
    https://d1m2ucn09z2f8d.cloudfront.net/static/documents/b0cb4849-14e2-453b-b092-60315165e032/WEB CLB-BRCH-Rules 2019 ENG R9 FINAL.pdf

    Also club rules for HCNY.

    https://d1m2ucn09z2f8d.cloudfront.n...-c59d8fd9928d/CLB-MISC-14002-THC-Rules-R7.pdf
     
    Last edited: May 24, 2019
  17. CalGalTraveler

    CalGalTraveler TUG Member

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    Not sure this is true. I was told by a rep that they are considering enabling reciprocal lounge access with the addition of an elite bHC tier. But perhaps he was speaking in context to W57 instead of bHC-wide because that's what we own. However during this discussion we were discussing bHC wide policy.
     
  18. brp

    brp TUG Member

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    It comes down to:

    Is it documented, or something that certain clubs are allowing.

    Salesweasel words are irrelevant :)

    Cheers.
     
  19. dayooper

    dayooper TUG Member

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    Wait, there can be a Residence Club at an HGVC property? I thought those were only at bHC? Since Chicago is a regular HGVC, how do they work that? Do you have to book your home season to get access to the owners lounge? I'm confuzzled by this.
     
  20. ccwu

    ccwu TUG Member

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    No, you can access owner’s lounge, if you are a owner and you stay in there. I exchanged into NYHC with my other Resort with RCI and I can access owner’s lounge. The rule did not say that staying there by using NYHC points. Just tell them we are owner when checking in.
     
  21. dayooper

    dayooper TUG Member

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    Didn’t know Chicago had an owners club?
     
  22. Nomad420

    Nomad420 Guest

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    LOL, My favorite thread! I have to laugh at all the confusion as I see I am not the only one. Many here know that I have rambled on in the past about many of the above issue. My favorite is that 57th St. is a bHC. I am sure it is but years back it wasn't. When it was developed I don't believe HGVC had even considered the concept of a "bHC". As I have mentioned my brother bought there immediate post construction and to this day never even considered or knew that was a "bHC". Many here know my frustration with owning at NYHC, you basically can't buy other HGVC properties and use them at that club. Yes, I am trying to get cheaper points and use them NYC so shoot me. I was told I could but that is another long and old story at this point. For now I am happy with NYHC as I really only use it for trip to NYC. I maybe down the road consider purchasing more property there in the retail market but for now the retail pricing is still a bit high. As far as using the lounge at other clubs I have stayed at W 57th several times and I would say I get lounge access about 50% of the time. I was told I was technically not allowed but with a wink and a nod I was provided access. I only hope I don't get anyone in trouble. Cheers!
     
    Last edited: May 24, 2019
  23. brp

    brp TUG Member

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    Your terminology is a bit confusing, so let me make sure I understand. By "NYHC" are you referring to Hilton Club New York or Residences by Hilton Club (I don't even know if RC
    To be clear: Among the people who own at these resorts, there is no confusion in use. We've owned W. 57th for several years now, and we're not confused at all about the rules. Yah, there are various nuances here, but many are not relevant to bHC folks who bought to stay where we want to stay.

    Also, there are things here being granted that are simply not in the rules and not guaranteed.

    Cheers.
     
  24. ccwu

    ccwu TUG Member

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    If not, then it is not bHC. We were told it was going to be a bHC of Residence Club in Chicago. Not sure if it is still coming.
     
  25. brp

    brp TUG Member

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    It is going to be HGVC.

    Cheers.
     

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