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My Sales Presentation (aka Owner Update)

Discussion in 'Hilton Grand Vacations Club / HGVC' started by alwysonvac, May 20, 2018.

  1. GT75

    GT75 Moderator

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    @mscheribel59 sounds like you haven’t gotten wise salespersons.
     
    mscheribel59 likes this.
  2. JohnPaul

    JohnPaul TUG Review Crew: Expert TUG Member

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    I had also notice The Residences in the ROFR database for $10,001. Here's my theory on why it passed. The Residences is new and there isn't much resale yet. In addition, the salespeople told us on our recent stays in August that a lot of people (this includes us) who moved from W 57th St to The Residences are buying back to W 57th St.

    Since they have tons of inventory at The Residences (being new and with people trading back out) why should Hilton take back a paid for unit that's going to take time to sell along with their existing inventory vs getting MFs right now.

    I also agree that this is not going to be a common situation.
     
  3. tombanjo

    tombanjo TUG Member

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    Any idea why are people buying back into W57th ?
     
    mscheribel59 likes this.
  4. JohnPaul

    JohnPaul TUG Review Crew: Expert TUG Member

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    The experience at The Residences/HCNY and W 57th St are quite different and people seem to like one or the other. Lots of hustle and bustle at Hilton Hotel as you make your way to the timeshares. Bars and restaurants available in the hotel if you want to use them. A more traditional decor at The Residences/HCNY vs contemporary at W 57th St. W 57th St has the amazing outdoor space in the lounge and from the minute you see the doorman you feel very welcomed and recognized.

    I also think they set expectations very high for The Residences. You visit the sales offices (which I think is the old Conrad Hilton Penthouse) and it is an amazing two story space with unbelievable views of Central Park and I think we all sort of thought everything would be like that or at least they would make that the owner's lounge. However, they kept that as the sales office. For being so high up, most units just look at other buildings. Also, the point values and MF are pretty high at The Residences. At The Residences the lowest point one bedroom for high season is 12,600 vs 7200 at W 57th St. We own a Studio Premier at W 57th St which gives us 7200 points (same as one bedroom but lower MF). W 57th MF about $1500 for the 7200 studio premier points that gets a one bedroom and The Residences is about $2900 MF for the one bedroom. (I don't know the actual 1 bedroom MF at W 57th)

    The fact that they are in The Hilton Hotel and have to utilize the Hotel services is a lot of nickel and diming that people find annoying and don't have to deal with at W 57th St. $5 per bag to check luggage. $5 or $10 for them to receive a package for you. Fees to use the business center for computer and printing.

    If MF were more equivalent and I could use the lounge I'd be happy to go back and forth between W 57th St and The Residences.

    As it is, we have one more "owner" stay at The Residences in January then it's back to W 57th St overall.
     
    janckenn and tombanjo like this.
  5. mscheribel59

    mscheribel59 TUG Member

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    Truthfully, I don't understand why they keep asking us to go...lol
    Retired, living the life the best we can, and grabbing a few gift cards along the way. :whooopie:
    By they way, We love HGVC, and are glad we bought 2 weeks, at resale! :banana:
     
    janckenn likes this.
  6. brp

    brp TUG Member

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    In New York we get $200 in Elevated Rewards dollars per visit. Very useful and work at a lot of places. Last visit was about 15 minutes, so I can make the maths work for that :)

    Cheers.
     
    mscheribel59 likes this.
  7. Smclaugh99

    Smclaugh99 Guest

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    I had an owners update at Park Soleil this weekend. I live two hours away from Orlando and go there frequently. I always turn down the update. This time I agreed mainly to see how they were going to reconcile my ownership (plus get the $100). I have 24,000 developer purchased points at HCNY. I have a Sea World resale 7000 points and I am in the deeding process for Kingsland 14,400 points. A couple of takeaways that I found helpful:
    1. Chicago will NOT be a ‘by Hilton club’. I asked her three times and she said it was just announced internally that it will be ‘regular’ HGVC. Still don’t know if I believe that given that it fits the portfolio of bHC to a tee.
    2. They really tried to push me from Elite Plus to Elite Premier (34,000 points) by ‘threatening’ that the Elite point thresholds are going up soon for new owners, but existing Elite owners will stay at their current level. I do admit they make the Registry Collection (only available to Premier) appealing in that it opens up nicer resorts from Disney, Marriott and international locales not available through RCI for relatively low club point values.
    3. I learned that my AmEx HHonors Aspire card ($450 fee) actually only gives 3 points on restaurants, grocery shopping, and gas stations but Ascend ($95 fee) gives 6 points for those purchases. Aspire travel benefit at 7 points is ONLY if you purchase direct from Amex travel or from certain partner airlines. So you probably get better points in the long run with Ascend and are paying for Diamond status with Aspire. As someone who has been pushing the Aspire card, I stand corrected.
    4. They have no idea what you paid for resale purchase. My sea world resale was listed at the 1997 $16,000 price, not the $4000 I paid this year. At some point in the presentation they offered to buy back the sea world for $16,000.
    Resale is their kryptonite and the sales person (and the closer) were in disbelief that my resales passed ROFR. At the end, the sales person said “stop buying those resales!” It was priceless.

    Sean
     
    Panina likes this.
  8. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    Or what?
    He was going to hold his breath until he turned blue?

    $16K for Seaworld was a most likely credit against a new purchase.
    IOW, you'd give up a perfectly good TS to buy one horribly overpriced from them.
    At least you weren't hornswoggled by these modern-day pirates.
    .
     
  9. Smclaugh99

    Smclaugh99 Guest

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    Oh yes, they were only offering buy back the resale to lower how much I would have to pay to ‘upgrade’. I won’t rehash my long history of intermittent upgrades since 2010 (before I became aware of TUG) but at every upgrade, they ‘buy back’ at purchase price to move you up usually to move you onto the Elite conveyor belt. This is the first time I saw them do that with a resale purchase.

    To try to make the sale they were offering 80,000 bonus points and 2 million Hilton honors points. This is the first time I have been offered HHonors points in an attempt to upgrade. Still said “no thanks.”

    Sean
     
  10. brp

    brp TUG Member

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    They've done that with us several times - offered the "direct" price of a resale purchase toward a higher-priced direct package. Happened earlier this month with a resale W. 57th where they offered full value toward a higher-point W. 57th package. And only another $30K in new money :)

    Cheers.
     
  11. gstudenic @suddenlink.net

    gstudenic @suddenlink.net Guest

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    I had an owner’s update last month in Vegas. He was very respectful. Looked at my point usage and acknowledged that I didn’t need any more points. He then said he had two opportunities that he was required to present to me. He left the room to pick up my portfolio. He came back and stated that since I was paid in full, I would not need to listen to these opportunities since they were offers to refinance at a lower rate. He and I parted ways. It took about 1/2 hr and was a positive experience. I got 3 nights at Elara for 150$. Last time they were not pushy in Myrtle Beach. The guy saw that I was having trouble using my points and we just sat and shot the breeze for an hour.
     
  12. Harry

    Harry TUG Member

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    Is trading in ever a good deal? At an "update" in Vegas they offered to buy back at original price Kings Land and Marabella. The selling hype was we would pay less in maintenance fees and get a huge discount on HGV Vegas, (the one north strip) and a bunch of Hilton honor points. When I stated that this would jeopardize my 12 month reservation for MB and KL he said we would have no problem. I said take back Bay Club and we will talk. We were ushered out.
     
  13. brp

    brp TUG Member

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    It's pretty much never a good idea. Even if you wanted the higher-point, lower MF package, you'd usually (maybe always?) be better off selling what you have resale (even with sales fees) and buying what you want resale. Still gonna be less out-of-pocket.

    Cheers.
     
  14. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    The 'new' money they'd want for the upgrade would still be excessive.
    But some peep have $$ to burn and prefer to have HGVC chauffer their limmo, even if it means paying thru the nose.
     
  15. brp

    brp TUG Member

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    Having money to burn doesn't mean that one should burn it here. Excessive travel and wine are much better options.

    Cheers.
     
    hurnik likes this.
  16. Sky313

    Sky313 TUG Member

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    Actually, Amex Aspire card gets you 7x points on restaurant purchases (not 3x). I have received 7x on all direct airline purchases as well (don't think it can be via Expedia, Travelocity etc) . Registry collection isn't all that. Most of properties on regular RCI anyways and point values are more expensive via registry collection than RCI. Availability isn't great either. See: https://club.hiltongrandvacations.com/en/club-membership/elite/exchange-benefits You can browse the registry collection as a non-member and it shows the same info as a member.
     

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