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HGVC - Deal or no deal?

DocHoliday23

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Resorts Owned
West 57th
I just want to preface this thread by being upfront that I probably should have researched this topic more that I did before posting this and definitely before I bought in (had no idea there was such a robust community around vacation package/timeshares) and I apologize in advance if I am regurgitating prior threads here.

So I've been on a number of these presentations over the last several years, mostly due to the fact that I love free stuff and I'm a sucker for a good deal but I have always known that a vacation program would be a great fit for me personally given how much I travel for "fun" and the places that I stay in when I do.

That being said, I have been reluctant to buy into any vacation program for reasons that are rooted in outdated ideology and skepticism around the industry on my part and I'm ready to cast that aside and dip a foot in the waters to see if a plunge is worth it or just a tan will do.

Well I guess I took a plunge before I felt the water. It's always easier to just jump in right? :)

However, reading through some of these threads has me having second thoughts and I've read the word "rescind" so many times I'm not quite sure why I'm even writing this.


**If you don't want to read the BS above, here's the nitty gritty**

  • West 57th St - they talked this place up like it was the mecca of all of Hilton because you can reserve 9 months in advance while others only have 60 days, yatta, yatta, yatta.

  • I read on some earlier posts that Hilton Club is slightly different than HGVC, but according to the points structure that I've seen, it all seems the same. Is there really any difference? I assume the maintenance fee is pretty high all things considered (aside from your home residence perks you get, maybe the your points at your primary is cheaper for you than others, no idea).

  • Either way, I love NYC. Favorite city in the world. Love the location. Ect, ect... As far as investment wise, seems like none of these will ever be worth what you pay for it but for some reason I can't see West 57th going anywhere anytime soon. Of course the investment value depends on supply and demand and who knows what that is. I'm assuming the "it's almost sold out" pitch was just a sales gimmick. It would be kind of interesting to know how true that statement is though.

For the numbers:

  • West 57th - Studio Plus
  • 3,750 Points Per Year
  • 20,000 Bonus Points
  • $1550 Maintenance Fee
  • $33K

Taking into consideration the 20k bonus points, am I still overpaying for something that could be had in the resell market for much less or maybe in a different property outside of NYC? Is this a resounding RESCIND?!

I look forward to the communities advice and comments.

Thank you all in advance!
 

bogey21

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I love Hilton Club properties and the concept but the cost is too rich for my blood...

George
 

dayooper

TUG Review Crew
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HGVC: The Flamingo, The Boulevard
You need the three R's: Rescind, Research and, if it's right for you, Resale.
 

brp

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You need the three R's: Rescind, Research and, if it's right for you, Resale.

This. We own in New York (W. 57th). Resale. Much of what they said about it actually is true. Except for the real buy-in cost.

Cheers.
 

CalGalTraveler

TUG Review Crew: Veteran
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Congrats on finding TUG in time and asking questions before you solidify you purchase.

Rescind immediately. Check Tug marketplace and Redweek and you will see that 3250 pt resales run around $9 - 10k. You will save much more buying resale than those 20k bonus points will buy you.

After you rescind the big question is where do you want to go most of the time? If NYC 90% of the time, then buy NYC resale (suggest a 5250 pt W57 unit to get more points for the same annual maint fee as the 3250. Studio units at W57 have the lowest MF in Manhattan.)

If you want to go elsewhere, then you should consider a 7k point resale unit at one of the FEPS* properties in Vegas to get the biggest bang for your buck because it becomes a lowest cost per point goal for in the rest of the system.

* Flamingo
Elara
Paradise
Strip (aka Las Vegas Blvd)​

If you are on the east coast, some have also reported good pts resale deals at Anderson, Myrtle Beach and HGVC Orlando however those properties are out of my wheelhouse.

Rescind now then come back to us with your answers to the above. You can always get that deal later if you change your mind.
 
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dayooper

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HGVC: The Flamingo, The Boulevard
Welcome to Tug!

**If you don't want to read the BS above, here's the nitty gritty**

  • West 57th St - they talked this place up like it was the mecca of all of Hilton because you can reserve 9 months in advance while others only have 60 days, yatta, yatta, yatta.

I want to address this statement bolded and make sure its clear. The 60 days only applies to West 57th. You can reserve almost any regular HGVC resort at 9 months just like any other HGVC member (regular HGVC home booking advantage extends from 12 months to 9 months, but only a full week in your deeded room designation and season). Your West 57th home booking advantage is from 12 months to 60 days. The salesman sounds like they left some important info out. The only members that can book West 57th before 60 out are West 57th owners. Sure it's nice if you are going to use the property often, but if you plan on using your points for other locations, your buy in price and MF's per point are not advantageous compared to @CalGalTraveler FEPS resorts. Even Orlando or Myrtle Beach would be better.

If you plan on using the majority of your points at West 57th, that's the place to buy.
 

Talent312

TUG Review Crew: Veteran
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HGVC & GTS
If you plan on using the majority of your points at West 57th, that's the place to buy.

But only buy resale. Buying direct from HGVC is a fool's errand.
You can get NYC for ~2.00/point (+/-) or elsewhere for ~$0.75-1.00 (+/-).

The bonus pts disappear in 2 yrs, and you'll be left w-a TS for which you paid far too much.
Resale owners get eggsactly the same rights & benefits as retail owners
... except only their points don't count for elite-status, which ain't all that.
Lastly: You'll want more annual points (5K-9K) to make good use of the system.

.
 
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dayooper

TUG Review Crew
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HGVC: The Flamingo, The Boulevard
But only buy resale. Buying direct from HGVC is a fool's errand.
You can get the same product for ~ $0.75 - 1.25 per point (+/-).

The bonus pts disappear in 2 yrs, and you'll be left w-a TS for which you paid far too much.
Resale owners get eggsactly the same rights & benefits as retail owners
... except only their points don't count for elite-status, which ain't all that.
Lastly: You'll want more annual points (5K-9K) to make good use of the system.

.

Thanks for clarifying. Yes, only resale.
 

tombanjo

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HCNY
If staying in NYC regularly is on your horizon, there are a few choices. First and foremost, buy resale, and I'd get the 5,250 points there. Secondly, understand the reservation time frames. Owners have the most choice for the longest time. Owners also get lounge access, which may or may not be important to you. I like coffee and something to eat before I go out and having it onsite is nice. Drinks and appetizers in the evening are nice too.

West 57th and the Residences can be rented by HGVC owners who do not own there, but have club season, 59-1 days before check in. Obviously, since owners have up to 365 days before check in to reserve, there may not be a lot of availability. Hilton Club New York is MEMBERS ONLY, meaning there is no "club season" there, no matter how many points you have elsewhere, unless you own there, you cannot reserve there. And only your HCNY points are good there.

A new resort - the Quin - is due to open soon across the street from W57th, whether this will lessen demand, increase demand, lower prices, raise prices, etc, is anyone's guess.

Finally, stays at w57th for three days or less have a $85 dollar housekeeping fee. HCNY has no HK for any length of stay.

I don't know a lot about the Residences, I'm not particular interested as the points are higher, and I own a few floor below and see no need to spend a lot of money to be on the 44th floor instead of the 37th.
 

Attachments

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alwysonvac

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WORLDMARK, HGVC, VISTANA

SOLD (DVC, FSRC)
For the numbers:

  • West 57th - Studio Plus
  • 3,750 Points Per Year
  • 20,000 Bonus Points
  • $1550 Maintenance Fee
  • $33K

Taking into consideration the 20k bonus points, am I still overpaying for something that could be had in the resell market for much less or maybe in a different property outside of NYC? Is this a resounding RESCIND?!

I look forward to the communities advice and comments.

Thank you all in advance!

Yes, a resounding RESCIND !!

And Welcome to TUG :thumbup:
 
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