hilton club NYC

[brettskyg]

is there any reason that non- hilton club nyc members cannot book here? I noticed that hilton club members have a separate website which looks simialr to that of HGVC?

 

[brettskyg]

Is it only particular floors in a single hotel? does the 57th street NY property work the same way?

 

[Talent312]

is there any reason that non- hilton club nyc members cannot book here?

Hilton Club NY members are special... a cut above us, the unwashed masses.
That is why they can mingle with us, if they choose. "Slumming" is the word.
But we are not worthy to it at the table,unless we slip thru the back door (RCI).
.

 

[Jason245]

I am guessing that that property was a failed experiment that HGVC is now stuck with...... If it was successful they would have build more resorts along that line.

 

[buzglyd]

I am guessing that that property was a failed experiment that HGVC is now stuck with...... If it was successful they would have build more resorts along that line.

You couldn't be more wrong about that.

I don't know if you've been to New York, but there's not a lot of empty space sitting around for timeshare properties.

West 57th is almost sold out.

Hilton Club recently opened a third floor in the Hilton property and is selling that.

The Hilton Club property was originally sold as Right to Use and a lot of those contracts are expiring and that inventory is coming back to sell again.

 

[Jason245]

You couldn't be more wrong about that.

I don't know if you've been to New York, but there's not a lot of empty space sitting around for timeshare properties.

West 57th is almost sold out.

Hilton Club recently opened a third floor in the Hilton property and is selling that.

The Hilton Club property was originally sold as Right to Use and a lot of those contracts are expiring and that inventory is coming back to sell again.

I meant a failed experiment in the context of RTU.

you will note that they SOLD West 57th and didn't do those as RTU.

Selling RTU contracts resulted in them having to create a seperate system and rules related to the contract, it also means that technically they are leasing the units instead of selling them. It increases G&A cost, makes the administration of the program more difficult, and creates a situation where once the RTU contract expires, they have noone to go after for MF until they sell the unit again. Unlike Disney, Hilton has switched its model and doesn't want resort inventory on its books (and the related liabilities), their focus has shifted to Management fees and club fees.


It doesn't mean that it isn't popular, but If I remember correctly, they were trying to sell the units now as units instead of RTU (but I could be wrong).

This is probably why instead of creating a separate system for West 57 and the new hawaii property, they restricted the club season for those properties for non-owners.

 

[Helios]

How likely is it to make a last minute reservation (say one month or less) in either of the NY properties?

 

[Jason245]

Impossible at the Hilton club because they are not reservable. .your only option for west 57 is about a month out as that is club season. ..

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[Helios]

Impossible at the Hilton club because they are not reservable. .your only option for west 57 is about a month out as that is club season. ..

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I'll try it out once my transfer is complete. Luckily, I am close to NY so I can really deal with last minute reservations.

 

[brp]

Hilton Club NY members are special... a cut above us, the unwashed masses.
That is why they can mingle with us, if they choose. "Slumming" is the word.
But we are not worthy to it at the table,unless we slip thru the back door (RCI).
.

We owned at HCNY, sold it back to Hilton and now have W. 57th resale. While I realize that what you're saying is tongue-in-cheek based on club rules, HCNY definitely seems more "unwashed masses" than W. 57th.

Inferior lounge
Rooms not as nice
VERY crowded location (due to the hotel, but still)

Overall, W. 57th is, IOO, a vastly superior property.

Oh, and we own it instead of the former RTU

Cheers.

 

[KathyA]

Well, although it is true that the original HCNY was sold as RTU, it is not true that any of those units are expiring. They all expire at the same time and that's not for nearly twenty years from now. Having said that, I think it is true that they are regretting the RTU model, as they are offering pretty big bucks to people with RTU contracts if they will sell them back. And the new floor (said to soon be two new floors) at HCNY is selling as ownership, not RTU.

You couldn't be more wrong about that.

I don't know if you've been to New York, but there's not a lot of empty space sitting around for timeshare properties.

West 57th is almost sold out.

Hilton Club recently opened a third floor in the Hilton property and is selling that.

The Hilton Club property was originally sold as Right to Use and a lot of those contracts are expiring and that inventory is coming back to sell again.

 

[Cyberc]

Hi

Please educate me.

Assuming Hilton can sell the same units for the same price RTU or not.

Why shouldn't they sell them as RTU? When the units expire due to the RTU Hilton get the units back for free.

Regards

 

[Jason245]

Hi

Please educate me.

Assuming Hilton can sell the same units for the same price RTU or not.

Why shouldn't they sell them as RTU? When the units expire due to the RTU Hilton get the units back for free.

Regards

1. for accounting purpose they have to amortize revenue recognition over the entire period of the RTU rather then getting it right away. This means that they end up with a huge liability on their books for all the money people paid to buy it ("Deferred Revenue").

2. Foreclosure for non payment is an entirely different animal.

3. The asset has to stay on their books, and ultimatly they have extra liabilities since they own the actual units and are only leasing the units to "owners".

4. They need to administrativly maintain a whole seperate system and website etc for a much smaller group of people.

 

[1Kflyerguy]

I would guess that a deeded ownership is an easier sale than RTU for many people.. though i am sure some people like the idea of their obligations and the MF going away as future set date..

But I think Jason really hit it on the head with the deferred revenue issue.. with the whole emphasis on capital light, outside development partners, etc. The last thing HGVC/Hilton wants is deferred revenue...

 

[buzglyd]

I would guess that a deeded ownership is an easier sale than RTU for many people.. though i am sure some people like the idea of their obligations and the MF going away as future set date..

But I think Jason really hit it on the head with the deferred revenue issue.. with the whole emphasis on capital light, outside development partners, etc. The last thing HGVC/Hilton wants is deferred revenue...

Something is rolling around in my head that Hilton HAD to develop the plan as RTU in order to get it approved in NYC. The regulations have changed now and current products are deeded.

 

[TheCryptkeeper]

I went to the owner's update at W. 57th Street today. Supposedly they're opening Hilton Clubs at Hilton Hotels in major cities world-wide fashioned after the Hilton Club deeded model here in NYC. Hilton Club owners will have the higher exchange rates for their club points to Hilton Honors points (50 to 1) and will be able to exchange into other Hilton Club properties and HGVC properties. Hilton Club properties, however, will remain inaccessible to HGVC owners. At least this is what the sales representative explained to me.

I met a very nice couple in the elevator when leaving the presentation, and told them about TUG and buying resale. They were extremely thankful for the information I gave them. I may have wasted my time at that owner's update, but I feel like at least I accomplished a good deed by going. Although that couple's sales representative probably would not agree.

 

[CalGalTraveler]

I went to the owner's update at W. 57th Street today. Supposedly they're opening Hilton Clubs at Hilton Hotels in major cities world-wide fashioned after the Hilton Club deeded model here in NYC. Hilton Club owners will have the higher exchange rates for their club points to Hilton Honors points (50 to 1) and will be able to exchange into HGVC properties. Hilton Club properties, however, will not be available for HGVC owners.

That is consistent with what I heard earlier this year. This will be a separate product line targeted toward aging boomers and possibly young DINKs (1 - 2 people vs. extended families for resorts) who want to visit cities for shopping, shows and museums etc. They also mentioned daily maid service and ability to convert points to HHonors at 50:1 with any amount at any time instead of once a year up-front to enable using Hilton hotels where clubs don't exist. Even though you cannot trade in from HGVC, it seems that RCI exchanges, renting units from owners and purchasing resale will be possible options for HGVC owners.

 

[Jason245]

That is consistent with what I heard earlier this year. This will be a separate product line targeted toward aging boomers and possibly young DINKs (1 - 2 people vs. extended families for resorts) who want to visit cities for shopping, shows and museums etc. They also mentioned daily maid service and ability to convert points to HHonors at 50:1 with any amount at any time instead of once a year up-front to enable using Hilton hotels where clubs don't exist. Even though you cannot trade in from HGVC, it seems that RCI exchanges, renting units from owners and purchasing resale will be possible options for HGVC owners.

..This seems like a great model for them.. and maybe a great product I will buy for a dollar in the near future.

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[TheCryptkeeper]

..This seems like a great model for them.. and maybe a great product I will buy for a dollar in the near future.

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My thought exactly. They offered me $16k in trade for my 4800 point Flamingo that I only paid $4k for resale. Balance due on 5000 point studio would be $30k and $150/ year higher maintenance fees.


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