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Did I get a good deal?

Discussion in 'Hilton Grand Vacations Club / HGVC' started by eabishop2, Dec 5, 2018.

  1. eabishop2

    eabishop2 TUG Member

    Joined:
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    Location:
    Olympia, WA
    Resorts Owned:
    Pueblo Bonito Emerald Bay, Mazatlan
    Tahiti Village, Las Vegas
    HGVC Elara, Las Vegas
    Pardon the click bait title, but I want to share an apples to apples comparison of my recent HHV stay. ;)

    I enjoy tournament bridge and occasionally travel to tournaments around the country. About a year ago, another couple that we frequently travel with asked if we were planning to go to the Fall NABC (North American Bridge Championships, aka "nationals") in Honolulu (at Hilton Hawaiian Village) in 2018. We were considering it and were actually in the process of closing on our 7800 HGVC point contract at Elara. I wasn't sure if it would close before the 9 month window opened for this trip and since I would be new to HGVC I didn't know if it was reasonable to expect availability at 9 months out for Thanksgiving weekend.

    My friend is retired military, so they have access to the Hale Koa, right next door and can sponsor a room for a guest. We've stayed there with them before and it's a very nice facility and a great location. Our friend suggested that she could reserve us each a room for the duration of the tournament, and then if we came through with a HHV reservation through our HGVC membership she could cancel. She wanted to do this one year out, which is the soonest you can reserve there. She made the reservation for 2 rooms and told us the rate was $172 a night for each room. Hale Koa rates are complex as it's based on the military member's rank plus the different view levels. She told me this was "one up" from the cheapest, so not garden view but some type of partial ocean view.

    Fast forward a few months and our sale has closed and the 9 month window is about to open. Based on my TUG education I knew how to "walk" my reservation and I was able to reserve a 2 BR OV room for our dates - 8400 points. My friend cancelled the Hale Koa reservation.

    Then I did some math. My MF plus Club Dues for the year was $1053.43 or 13.5 cents per point. .135 x 8400 plus the $65 reservation fee comes to $1199. Divide that by 7 and you get $171.29 per night. Less than the cost of a HOTEL ROOM at the Hale Koa! The Hale Koa is a great deal for our military veterans and a far better price than you can get for anything else comparable in Waikiki. But wait, we would have each had a hotel room there, my HGVC cost is for both couples, in a 2BR 2BA full kitchen, LR etc condo with a lanai and a great view from the 18th floor over the marina.

    Now some may argue that I have to include my initial buy-in into the equation. There are lots of ways to do that, but even if you take one of the most unfavorable methods - amortize the whole purchase over 10 years, that raises my cost per point to 26.3 cents. .263 x 8400 plus $65 comes to $2274 or about $325 per night. That's $162 per couple. No matter how you calculate it, the cost for the trip using my HGVC membership came out LESS than my friends with an amazing military benefit could've done for us in 2 hotel rooms!

    Did I get a good deal? :banana::whooopie:
     
    Last edited: Dec 5, 2018
    RX8, jehb2, GT75 and 2 others like this.
  2. GT75

    GT75 Moderator

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    Location:
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    Resorts Owned:
    HGVC-x7
    Yes, this is a wonderful example of how a TS and HGVC can save someone money for a memorable vacations. Thanks for sharing. And what a great first booking too.
     
    Last edited: Dec 5, 2018
    dayooper and eabishop2 like this.
  3. PigsDad

    PigsDad TUG Member

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    Location:
    Northern Colorado
    Resorts Owned:
    HGVC Elite: SeaWorld, Surf Club, Charter Club
    I think so! Congrats on buying something that you will use and are obviously happy with! Using any timeshare is the best way to realize the value of it. It is when people don't use it that timeshares get their bad reputation, as people only complain about how expensive it is and get nothing from it. It is nice to see a new owner happy with their purchase. Have a great time on your vacation!

    Kurt
     
  4. GT75

    GT75 Moderator

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    Well stated and I agree.
     
  5. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    To the OP, I liked the way you figured your cost per night. You are on the right track IMHO.
     
    jehb2 and eabishop2 like this.
  6. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Location:
    USA
    Resorts Owned:
    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    The military rates are great, we have used them for a night or two between timeshare stays. As great as they are, you have shown one example what a great value timeshare ownership can be. I am a believer, just like you!
     
  7. Arimaas

    Arimaas TUG Member

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    I made a spread sheet awhile back in google spreadsheets that will break down your costs including initial buy in, MFs, reservation fees, etc. i use it to compare to a rack rate at the same location to see the break even point. If you want access to it let me know.

    Since my Wyndham TS was basically free, it’s taken a lot less to “make money” off of it as compared to HGVC since there was about a $4500 buy in. Either way, you got a great deal with this stay, and that’s why I love TS too. So much more bang for your buck (when you’re working off a resale purchase).
     
    eabishop2 likes this.
  8. Jason245

    Jason245 TUG Review Crew: Veteran TUG Member

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    As long as you bought resale and are using It in full you are doing better than at least 250k of the 300k hgvc members.

    Sent from my SAMSUNG-SM-N910A using Tapatalk
     
    CalGalTraveler likes this.
  9. frankyip

    frankyip TUG Member

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    I use a similar formula to evaluate the TS I’m buying:

    [(MFs+taxes+Dues)+(buy in price+closing fees)] / annual points = cost per point.


    Sent from my iPhone using Tapatalk
     
  10. SmithOp

    SmithOp TUG Member

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    HGVC King's Land 2BR Premier 14.4K Points.
    I take it a little further because I consider usage years and if there is a resale value or do you expect to give it away.

    (Total Annual Fees + ((Total Purchase cost - Resale Value) / expected usage years)) / number of points= cost per point


    Sent from my iPad using Tapatalk Pro
     
  11. cas42021

    cas42021 Guest

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    What's the 8400? Was that the resale price of the contract?
     
  12. dayooper

    dayooper TUG Member

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    HGVC at The Flamingo
    That the amount of points the interval has.
     
  13. cas42021

    cas42021 Guest

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    Ahh..thought he had said 7800. Thanks.
     
  14. eabishop2

    eabishop2 TUG Member

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    Location:
    Olympia, WA
    Resorts Owned:
    Pueblo Bonito Emerald Bay, Mazatlan
    Tahiti Village, Las Vegas
    HGVC Elara, Las Vegas
    The 8400 is the number of points the HHV reservation required.
     
  15. frankyip

    frankyip TUG Member

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    I don’t disagree with that. I just want to “stress” it a bit and see how much it cost per night. One can also argue you can amortize that over 15 or 20 years.
     
  16. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    Houston, TX
    Resorts Owned:
    Wynd VIP Plat, HGVC Elite, HICV, + few others
    Writing off any initial investment in the first year is not practical. Spread that out of the amount of years you expect to hold the property.
     

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