Since you're familiar with DVC you might find this comparsion helpful as you begin your HGVC research.
Similar to DVC, HGVC has a home resort booking period (12 months prior to checkout for HGVC vs 11 months for DVC) then everything opens up for booking at any resort (9 months prior to checkout HGVC vs 7 months for DVC).
DVC is a pure point based system. With DVC, there is no minimum night requirement. With DVC, you can book any number of nights at any time including the home resort booking period.
HGVC is a combination of a weeks and points system.
The flexible point based system doesn't apply during the home week booking period. HGVC works like a floating week system during the Home Week window which means from 12 months to 9 months before check-in, if you want to book during the home week window then you must reserve the exact unit size and type in the season that you purchased (studio, 1 bedroom plus, etc) for the full week based on the fixed checkin date at your home resort. There is no flexibility. NOTE: Only points earned in the use year can be used in the home week window. Borrowed, Rescued or Banked points can not be used in the home week window.
HGVC works like a point based system during the Club Reservation window which means 9 months before checkout (for most resorts) anyone can book any season, resort (including their home resort), unit size and/or type for any number of days (minimum of 3 nights). This means all HGVC resort owners have an equal chance at booking at any HGVC resort during the Club Reservation window.
NOTE: HGVC also offers an online changeable reservation option which allows members to change their reservations online.
In summary, HGVC has three reservation windows:
(1) Home Week window (3 month period begins 12 months prior to check-in and ends 9 months prior to check-in; requires a full week in the unit type and season owned on the designation home Week check-in date)
(2) Club Reservation window (begins 9 month prior to check-out through 1 day prior to check-in; requires a three night minimum; requires a reservation fee)
(3) Open Season Rental Reservation window (cash rentals begin 30 days before check-out through 1 day prior to check-in; requires a two night minimum; available to members for their personl use only). This excludes W57th (which is only available to w57th owners 15 days before check-in) and Grand Waikikian penthouse units (which is only available to Grand Waikikian penthouse owners 30 days before check-in).
Unlike DVC, you can't just add on a minimum of 25 DVC points. If you want more HGVC points, you have to purchase another deeded week to add points to your existing HGVC account. For this reason, some owners choose to purchase larger HGVC point packages instead of several smaller HGVC point packages. NOTE: HGVC Maintenance Fee (MF) is generally based on resort and unit size therefore a two bedroom bronze season owner (2,500 annual HGVC points) may pay the same MF as a platinum season (7,000 annual HGVC points), gold season (5,000 annual HGVC points) and silver season (3,500 annual HGVC points) at the same resort.
NOTE: Hilton manages and operates two club membership programs: Hilton Grand Vacations Club and The Hilton Club. The Hilton Club New York is a RTU (not deeded).
HGVC MFs are lower than DVC MFs. Unlike DVC, HGVC's MF is not all inclusive. The DVC's MFs are higher because it covers the onsite operational and administrative support from the Walt DISNEY WORLD Resort (i.e. member benefits such as resort transportation, package delivery from the parks to the resort, etc). DVC's MFs are also higher because it includes all administrative fees for reservations at the DVC resorts. With DVC, there are no additional club fee and no additional transaction fees (for making reservations at a DVC resort, changing reservations, banking, etc).