questions about an offer

[JMLarge]

I bought a sampler package from Diamond Resorts just as they were being bought by Hilton. Went to a presentation for Hilton and was offered the following. Tell me if they are lying, this is a good deal, or what? We actually liked the presentation and the seemingly many options for using the points in the Hilton system. We are the owner of Holiday Inn Weeks that we bought many years ago.
Here is what they offered:
We book our Holiday Inn week each year and give it to Hilton, which will credit us 6500 points. We buy 8000 points every other year, so over the two-year period, we have about 10,000 points to use each year. No more RCI, as we can go directly through Hilton to book with no booking fees, etc. The cost was about $12,000 with $1200 a year in maintenance fees. Also putting maintenance payments on an Amex platinum and get 130,000 points. Do any of you have something similar to this? Good deal, does the program work well, availability, quality of properties, etc.? It sounded good, but also sounded like a lot of moving parts. I didn't buy, but the more I thought about it, I wonder if I turned down a decent offer. I appreciate your thoughts and knowledge on this as I know very little about the Hilton program. Thanks in advance!

 

[escanoe]

You are smart to research it more before making a purchase.

 

[gggllm]

I think the salesman is giberringshing

 

[4TimeAway]

We are closing on Kohala resale 15,360 for about $7,000 all in (fingers crossed) with $1,850 in MF.
Note: I think people mention $0.50/pt to buy and I model $0.15/pt MF, as it makes the math easier and there seem to be fees sometimes.

All things being equal, I'd personally prefer deeded annual contracts at a location the family would like to go to for availability reasons (earlier ability to book).


I think you're saying you're trading in a week Holiday Inn, paying $12,000 for an every-other-year (EOY) and paying $1,2000 in MF. That doesn't sound great to me especially if the Holiday Inn has an annual cost, but I could be wrong about the details.

I'm sure someone will dive deeper into the details. The math seems giberringshing.? per gggllm

 

[JMLarge]

We are closing on Kohala resale 15,360 for about $7,000 all in (fingers crossed) with $1,850 in MF.
Note: I think people mention $0.50/pt to buy and I model $0.15/pt MF, as it makes the math easier and there seem to be fees sometimes.

All things being equal, I'd personally prefer deeded annual contracts at a location the family would like to go to for availability reasons (earlier ability to book).


I think you're saying you're trading in a week Holiday Inn, paying $12,000 for an every-other-year (EOY) and paying $1,2000 in MF. That doesn't sound great to me especially if the Holiday Inn has an annual cost, but I could be wrong about the details.

I'm sure someone will dive deeper into the details. The math seems giberringshing.? per gggllm

OK thanks, you are probably right, Your last paragraph is correct. I would still be paying for Holiday Inn MF's but would get 6500 Hilton points each year when I gave my week to Hilton,

 

[4TimeAway]

OK thanks, you are probably right, Your last paragraph is correct. I would still be paying for Holiday Inn MF's but would get 6500 Hilton points each year when I gave my week to Hilton,

My first thought is how will they give you the points? It seems a bit odd to me and when something gets complicated, I tend to just say no.

Also, timeshare salespeople are highly motivated to push you and sometimes explain things that are not the way the contract reads.


How much are the Holiday Inn MF/s?

Seems like easy math:
Holiday Inn MF: $700est
Hilton EOY MF: $700 8,000 PTS so $1,200 for point years and $200 non-point years
Annual MF: $1,400

Annual HGVC Points: 10,500 average

Initial Price: $12,000


It could be a good enough plan for you, but it seems like selling the Holiday Inn could get you into a resale single Platinum HGVC with 10,000+ points with low MF's. Even if you had to pay to give away the Holiday Inn you'd save some money. If you ever wanted out it would be cheaper than having 2 TS to sell.

 

[JMLarge]

My first thought is how will they give you the points? It seems a bit odd to me and when something gets complicated, I tend to just say no.

Also, timeshare salespeople are highly motivated to push you and sometimes explain things that are not the way the contract reads.


How much are the Holiday Inn MF/s?

Seems like easy math:
Holiday Inn MF: $700est
Hilton EOY MF: $700 8,000 PTS so $1,200 for point years and $200 non-point years
Annual MF: $1,400

Annual HGVC Points: 10,500 average

Initial Price: $12,000


It could be a good enough plan for you, but it seems like selling the Holiday Inn could get you into a resale single Platinum HGVC with 10,000+ points with low MF's. Even if you had to pay to give away the Holiday Inn you'd save some money. If you ever wanted out it would be cheaper than having 2 TS to sell.

Thank you, I may try to go this route. Is there a way to get into the Hilton program directly, without going through the high pressure sales?

 

[4TimeAway]

Thank you, I may try to go this route. Is there a way to get into the Hilton program directly, without going through the high pressure sales?

You buy resale and its painless.

There are several reviewed realtors specializing in timeshares. It does seem to take couple months to close, but at a savings on 80-90%, even my impatient self has to adjust. If you use hte same person that may even reduce the fees slightly to sell and buy.

Hardest part is figuring out what you want to buy.

When you have an idea, let us know and we can point you in a direction.

 

[CalGalTraveler]

You can also look on Redweek.com and Tug's classified for resale listings.