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Is my EOY Residences by Hilton Club offer worth?

CSG

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Hello Folks,

Last Sunday I accepted an offer of 5100 EOY(every other year) points for Residences by Hilton Club, NY in $27220. I get 18K bonus points to be used in 2 years. I pay maintenance fee every other year .

I think I overpaid. But this is a club in NYC. Can you please comment? How much should I pay for this deal? Very new in timeshare business. Any help is greatly appreciated.

Thanks in advance. Eagerly waiting for some help.
 

dayooper

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Hello Folks,

Last Sunday I accepted an offer of 5100 EOY(every other year) points for Residences by Hilton Club, NY in $27220. I get 18K bonus points to be used in 2 years. I pay maintenance fee every other year .

I think I overpaid. But this is a club in NYC. Can you please comment? How much should I pay for this deal? Very new in timeshare business. Any help is greatly appreciated.

Thanks in advance. Eagerly waiting for some help.
Rescind. If you are very new to timesharing, you need to figure out what you want. You have a short period of time to rescind, but that deal (or a better one) will always be there. Once you rescind, study the HGVC/bHC system and if you think you want to go ahead, buy resale. If, after research you want to purchase retail (you won't), you will informed.

With the exception of Elite Status, HGVC/bHC resale owners have the same rights, privileges and booking windows as developer bought owners. Unless you want to over pay, HGVC, resale is always the way to go.
 
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brp

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If by "last Sunday" you mean "this past Sunday," i.e. Sunday, June 9, then you have some time to rescind comfortably, but do it now. If it is Sunday June 2, then time may be short or over. I'm assuming that this is "this past Sunday" so do as @dayooper says.

Cheers.
 

CalGalTraveler

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Rescind: The BHC system is complicated. you need to research and understand if those nuances work for you.

FWIW...there is a Residences for 7000 Points ANNUAL asking $19,500 on Redweek. But you can do much better at W57 street location - and that has lower MF/pt ratios too. (If you don't understand what I am saying here, you definitely need to rescind and understand what you are buying.)

Rescind, Research, (buy) Resale.
 

CSG

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If by "last Sunday" you mean "this past Sunday," i.e. Sunday, June 9, then you have some time to rescind comfortably, but do it now. If it is Sunday June 2, then time may be short or over. I'm assuming that this is "this past Sunday" so do as @dayooper says.

Cheers.
Thanks for your response. Yes June 9 is when I signed the Deed and Title.
 

CSG

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Rescind: The BHC system is complicated. you need to research and understand if those nuances work for you.

FWIW...there is a Residences for 7000 Points ANNUAL asking $19,500 on Redweek. But you can do much better at W57 street location - and that has lower MF/pt ratios too. (If you don't understand what I am saying here, you definitely need to rescind and understand what you are buying.)

Rescind, Research, (buy) Resale.
Thanks for mentioning the deal at redweek. It was helpful to make a comparison. Wondering if I will have access to owner's lounge with redweek deal? It is important for me to have lounge access.
I am getting 2 VIP Gold Status with Hilton Hotels for life in this deal too. Also, access to executive lounges in Hilton hotels.
I have asked them if they can make it Diamond .

W57 street has a $85 fee if you stay less than 3 nights minimum . I am a frequent visitor to NYC. I will stay max for 2 nights in one visit.

Does buying resales give all the benefits? I am planning to send the rescind letter but asking these question so that I do a better deal next time.
 

brp

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Yes, lounge access. Yes all benefits. When looking at the $85 short stay fee, make sure to weigh this in with MFs and other things to look at a total cost. We use W. 57th for short trips and pay this fee 1-3 times a year. It is worth it to us. Also, we prefer the W. 57th location to the Hilton Midtown location by enough to make us not care about the fee :)

HHonors Gold Status only gives Executive Lounge access if you are upgraded to an executive floor while Diamond has access regardless. Also, I'm assuming that "VIP Gold status" is the same as "Gold status" as I'm not familiar with the former.

As mentioned, stick around, become a Member here and do some research. Lots of info and a really nice program. Well worth it at resale prices...

Cheers.
 

CalGalTraveler

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Congrats on finding Tug in time.

If you plan to only visit NYC also consider Hilton Club NY (HCNY) which is a few floors down from the residences in the same building and the buy-in cost is less because it is older. Quirky rules for the different bHC NY properties but this may work for your situation. Look at the bHC stickys.

As @brp noted, lounge works if you own or rent from an owner but only at your property i.e. you can't stay at W57 or HCNY and get lounge access if you own Residences.

re: Gold. You can get Hilton Diamond status with the Hilton Aspire card. When you pay HGVC Maint Fee at resorts (not NYC properties but Vegas works) and $250 airline credit the card is basically free.
 
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dayooper

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If by "last Sunday" you mean "this past Sunday," i.e. Sunday, June 9, then you have some time to rescind comfortably, but do it now. If it is Sunday June 2, then time may be short or over. I'm assuming that this is "this past Sunday" so do as @dayooper says.

Cheers.
I like your thinking. Maybe get that on a t-shirt? Now if you could just get my kids to "do as dayooper says," my life would be a whole lot easier!
 
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Panina

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Welcome to tug. Everyone gave you the info you need. Rescind, learn all you need to to make the best choice for you, resale will save you $.
 

GT75

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I am planning to send the rescind letter
.

Welcome to TUG. We have a great group of HGVC Tug members as you can already tell from the responses you have received. After to rescind, we will continue to help you as you research resales. I am not as familiar with bHC and HCNY as others who own there such as @brp and @CalGalTraveler.
 

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Congrats on finding Tug in time.

If you plan to only visit NYC also consider Hilton Club NY (HCNY) which is a few floors down from the residences in the same building and the buy-in cost is less because it is older. Quirky rules for the different bHC NY properties but this may work for your situation. Look at the bHC stickys.

As @brp noted, lounge works if you own or rent from an owner but only at your property i.e. you can't stay at W57 or HCNY and get lounge access if you own Residences.

re: Gold. You can get Hilton Diamond status with the Hilton Aspire card. When you pay HGVC Maint Fee at resorts (not NYC properties but Vegas works) and $250 airline credit the card is basically free.
Thanks for the input.
 

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Just to keep you guys informed , while I am working on the cancellation letter, I have asked them to get a quote on 5100 points every year . Currently , it is EOY. I am 90% sure they will come up with a high price but just giving a chance.

Any tips on what is very important to include in the rescind letter other than the name/date/unit # (I have to look it up in the contract I signed)/loan /downpayment ?
 

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Be careful as they will try to talk you out of it. That deal will always be around later so you can always go back if you don't like resale. Besides, you know it will be more than $27k for the EOY. Other than curiosity why waste your time if you know you can get it resale for under $19k resale for annual 7k (plus you could offer lower than that). I bet it will be around $50k+ plus bonus points.

Follow the contract instructions exactly for rescission and make sure you send it return tracking. Don't let them tell you to ignore anything because verbal instructions don't matter. Also make sure everyone on the contract signs the letter. HGVC is very good with rescissions as long as you are within the window.
 
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brp

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Yeah, I would suggest not even asking. There is no chance that they can/will offer you a better deal than you can get resale. They will offer some bonus points with a limited lifetime, and that makes it look attractive on the surface. Underneath, though, it is not likely to be a good deal.

Cheers.
 

PigsDad

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Also, they will probably flat out lie to you about resale, saying that you won't get certain owner benefits if you buy resale. Lies, all lies.

Kurt
 

dayooper

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Also, they will probably flat out lie to you about resale, saying that you won't get certain owner benefits if you buy resale. Lies, all lies.

Kurt
Yup, just like the song and dance to get you to buy, they will spin the same lies to get you to change your mind back. You have the same rights as a resale buyer as a retail buyer, same booking window, same fees, same great customer service. I believe in the bHC properties, you get access to your home property owners lounge. The only difference is you don’t get elite status (which isn’t much).
 

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I believe in the bHC properties, you get access to your home property owners lounge.
Yup. I can confirm that this is true. We are resale and get access as if we paid too much...like the rest of the folks there in the lounge :)

Cheers.
 

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Be careful as they will try to talk you out of it. That deal will always be around later so you can always go back if you don't like resale. Besides, you know it will be more than $27k for the EOY. Other than curiosity why waste your time if you know you can get it resale for under $19k resale for annual 7k (plus you could offer lower than that). I bet it will be around $50k+ plus bonus points.

Follow the contract instructions exactly for rescission and make sure you send it return tracking. Don't let them tell you to ignore anything because verbal instructions don't matter. Also make sure everyone on the contract signs the letter. HGVC is very good with rescissions as long as you are within the window.
Just got a reply from redweek deal that conversion of ownership points is not available to HHonors points because it is a resale. Another deal on smtn.com said that conversion is allowed. Any first hand experience on the resales with converting points?
 

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Just got a reply from redweek deal that conversion of ownership points is not available to HHonors points because it is a resale. Another deal on smtn.com said that conversion is allowed. Any first hand experience on the resales with converting points?
A. It is allowed
B. You should never do it as it's a very poor use ot HGVC points, particularly bHC points (so, no firsthand experience, actually :))

Cheers.
 

dayooper

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A. It is allowed
B. You should never do it as it's a very poor use ot HGVC points, particularly bHC points (so, no firsthand experience, actually :))

Cheers.
This, especially part B, and it will get worse as they change the HHonors program.
 

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Do I need to send back a copy of contract with my rescission letter? That pile of papers they gave. Do they need to receive the letter within specified rescission period or I need to send it via certified mail in that period?
 

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Do they need to receive the letter within specified rescission period or I need to send it via certified mail in that period?
The critical date is the date that you mailed it.
 

GT75

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Do I need to send back a copy of contract with my rescission letter?
No, that isn't necessary. You should reference it in your letter plus have everyone who signed the original contract, sign the rescind letter. You should also follow the rescind instructions provided in your packet, to the letter/exactly.

edited post.
 
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CSG

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No, that necessary. You should reference it in your letter plus have everyone who signed the original contract, sign the rescind letter. You should also follow the rescind instructions provided in your packet, to the letter/exactly.
Alright thanks.
 
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