Hilton currently exercising ROFR???

[elc300]

I'm in negotiations to purchase at the Hilton Club NY and was wondering if anyone has purchased below $1dlls a point and passed ROFR. I contacted Hilton's resale department and was told the lowest that will pass ROFR for the Hilton Club is .75 cents. Judi Kowlowsky is representing me on the purchase btw and she seems optimistic at below .75 cents. I've seen some HGCV auctions selling cheaply in ebay, wondering if any Tuggers have had any luck with these purchases. Thanks!

 

[yumdrey]

A while back, a tugger reported that he purchased 14000 points at hilton club NY for $7000 and passed ROFR.

 

[Omne]

A while back, a tugger reported that he purchased 14000 points at hilton club NY for $7000 and passed ROFR.

That was me and it passed this Summer. Judi handled it.

 

[amisco]

ROFR

From what I understand.... HGVC has been on a budgeted program to exercise their ROFR on many of their properties... You may have noticed that there are few 7000 point properties on eBay compared to last year...the notable exceptions are affiliated properties like Bay Club, Marabissa and a few other properties like the Hilton Club New York (although I understand that they are excercising on the W57th HGVC property.

I also understand that they are now exercising on select 5000 point packages... the result being a raise in resale prices.

 

[alexadeparis]

Can anyone report any recent ROFR on any HGVC Orlando units? I am hoping they are not exercising in Orlando too hard right now.

 

[gnorth16]

FWIW

My purchase was for $3500 plus closing in December 2010 through a broker for a 5000pt Las Vegas Bvld. It took almost three months for the owner to get the paperwork in order and finally the broker said the seller may not even close. It had already passed ROFR, so HGVC gave me a free pass on ROFR when my broker matched me up with another seller. I was told by both my broker and HGVC that I was very lucky since they were purchasing all 5000 pt under $5000.

Take it with a grain of salt. I would look at Judy K's auctions and see what the reserve price is. I would bet dollars to donuts that it would be the benchmark for ROFR.

 

[yumdrey]

I contacted Hilton and asked how much they would pay if I sell my 7000 points week at vegas to them.
I got an offer of over 10k from Hilton.
So I am sure Hilton would exercise ROFR anything below 10k for vegas 7000 points packages.

 

[SmithOp]

I contacted Hilton and asked how much they would pay if I sell my 7000 points week at vegas to them.
I got an offer of over 10k from Hilton.
So I am sure Hilton would exercise ROFR anything below 10k for vegas 7000 points packages.

Ah, but isn't Hilton offer contingent on another purchase? Has anyone been able to unload a TS to Hilton for cash?

 

[Sandy VDH]

Yes i think they purchased an Vegas event week 52 back from someone if I am not mistaken.

 

[yumdrey]

They (Hilton) offered $11,500 for Flamingo 7000 points. New purchase was NOT required.

 

[ricoba]

Yes i think they purchased an Vegas event week 52 back from someone if I am not mistaken.

Yes, that was me. NYE at Karen Street.

 

[Seth Nock]

The Hilton New York should go through at less than 75 cents per point. They are actively exercising ROFR on Vegas and Orlando 3,400, 4,800, 5,000, 7,000, 8,400 and 9,600 point units. For 5,000 point units, I have not had a buyer contract for under $5,000 pass right of first refusal in over 6 months. For 7,000 points, you should try to be at about $12,000 or higher. Hilton is more aggressive on Las Vegas Strip units. For those, the offers should be 15% higher.

 

[chriskre]

The Hilton New York should go through at less than 75 cents per point. They are actively exercising ROFR on Vegas and Orlando 3,400, 4,800, 5,000, 7,000, 8,400 and 9,600 point units. For 5,000 point units, I have not had a buyer contract for under $5,000 pass right of first refusal in over 6 months. For 7,000 points, you should try to be at about $12,000 or higher. Hilton is more aggressive on Las Vegas Strip units. For those, the offers should be 15% higher.

Seth, are they also ROFRing the biennials?

 

[gnorth16]

5000 pts for $5000 plus 15%.... I'd think of selling but my points are used up for 2012 and 2013. (Just kidding - not selling !)

I kinda wish I had bought more/larger points before they started the big push on ROFR but it was my first TS...

 

[GregT]

I kinda wish I had bought more/larger points before they started the big push on ROFR but it was my first TS...

Me too....but I'm glad I snuck in the one purchase when I did!! HGVC is a great system...

 

[Seth Nock]

Biannuals are being bought back at a little higher than half the price of the annuals.

 

[Cappy]

7000 HGVC POINTS fixed week 51 Marco island

Anyone know what i could get for a 2 bedroom unit? I have 3 2 bedroom units on Marco island that i need to sell at least 2 of them! Think i could get $12,000 each?

 

[yumdrey]

Marco island resorts are not true HGVC resorts, they are affiliated resorts - Hilton managed.
And they have no ROFR.

Affiliated resorts are sold lower than true HGVC resorts.
For example, Bay Club 7000 points are sold around $4000 - $5000.

 

[travelguy]

Marco island resorts are not true HGVC resorts, they are affiliated resorts - Hilton managed.
And they have no ROFR.

Affiliated resorts are sold lower than true HGVC resorts.
For example, Bay Club 7000 points are sold around $4000 - $5000.

IMO - This is a GREAT reason to own affiliate resorts to get into the HGVC system. I've owned 1 HGVC "developed" resort and several affiliate resorts for years and there is NO difference in use of the HGVC points. In fact the only difference is that I was able to get HGVC points much cheaper through the affiliates!

And as has been discussed in other threads, there are other advantages to owning some affiliates such as II/RCI dual affiliation, non-binding reservations more than 1 year out, HGVC points use over THREE years, leveraging 40% more HGVC points by manipulating floating weeks, etc.

 

[GregT]

And as has been discussed in other threads, there are other advantages to owning some affiliates such as II/RCI dual affiliation, non-binding reservations more than 1 year out, HGVC points use over THREE years, leveraging 40% more HGVC points by manipulating floating weeks, etc.

Hmmmm.....sounds like I need to do some thread surfing......thx for heads up on potential opportunities....