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ROFR Exercised/Passed

Anw015

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I agree. I would have expected HGVC/affiliate actually to waive rights on gold unit.
I would have expected it to pass too. Trying to think it out, some of those gold weeks fall into weeks that are desirable. They might be selling or they might be renting easily thus they are not waiving. No matter what the reason they don’t seem fazed over any acquisition talks related to hgvc system.

I too figured it would pass. The one they took last month I can say I wasn’t too surprised but this one I was. But if it’s what natarajanv said I guess that makes sense. I just live close and enjoy the location wanted first dibs but I may need to just move on.
 

Anw015

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Could be... I thought she simply used the format of a prior post (see #329) and didn’t realize their error. Both of her recent posts (#342 & #364) state ROFL.
Lol yep I did not even notice I did it for Both lol and you are right I copy pasted and changed the numbers.
 

natarajanv

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I too figured it would pass. The one they took last month I can say I wasn’t too surprised but this one I was. But if it’s what natarajanv said I guess that makes sense. I just live close and enjoy the location wanted first dibs but I may need to just move on.
I don't see any ROFR on the Vegas units recently, I am sure you will get a great deal from Vegas before the end of the year.
 

tombanjo

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I just saw this on rofr.net - I wonder what the story is

The District by Hilton Club12/15/2019PlatinumAnnual1BRN/A
$750.00​
PassedAllan m

o_Oo_Oo_O
 

CalGalTraveler

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Someone got a great deal on bHC points. This is at the very end of the ROFR budget. Perhaps there was none remaining.

Do you know how many points this is worth? I believe DC gets AI reservation benefits too.
 
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natarajanv

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7200 points. Hard to believe Hilton did not have $750 to buy back

Sent from my Pixel 4 XL using Tapatalk
 

dayooper

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7200 points. Hard to believe Hilton did not have $750 to buy back

Sent from my Pixel 4 XL using Tapatalk
How popular is The District? Is there a demand? Is it hard to book into? Maybe it’s just not a demand property.

It could have been an eBay purchase or similar. Sometimes those sellers are either selling for HGVC or write it up with fees and such to make it seem like a higher purchase price.
 

tombanjo

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It is a pretty new property, though it is top 3 floors of an embassy suites hotel - rather than a single use timeshare only property (96 large one-bedroom suites and 12 two-bedroom suites )

It looks like it only opened Spring of 2018. I just made an offer for the same thing at $5750. (eBay seller) These things were selling in the 40's less than 2 years ago - so that is a giant hit. The eBay one I made offer on was untouched for a while so it does look like it is not on the radar of buyers.
 

CalGalTraveler

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That's 19.7 cents MF/point or $1418/year. Not too shabby for bHc points as the buyer basically got 7200 bHC HGVC points for almost free plus free reservations so will save on reservation fees.

To compare with a Vegas Blvd 7000 point at $1/point purchase it would take 13.5 years for this deal to go upside down. Plus unlike club points, bHC are turbo points with few limits. The owner could give this away again in 10 years and still be ahead because you cannot lose money you did not spend. Someone got a very sweet deal.

This owner also gets 15 days priority rental access into the NYC properties over club (Residences, Central at 5th) and will get preferential reservation access to other bHC properties such as Cabo and Waikiki when they open.
 
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604mike

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My first post...thanks to all of you that make this site possible.

HGVC BLVD Platinum 2BED - 7000pts
Purchased in Oct 29' - $6200
Seller covered closing and transfer fee

I will add to ROFR.net
 

dayooper

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My first post...thanks to all of you that make this site possible.

HGVC BLVD Platinum 2BED - 7000pts
Purchased in Oct 29' - $6200
Seller covered closing and transfer fee

I will add to ROFR.net
Nice purchase! Who did you buy through?
 

tombanjo

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My District passed ROFR for $5750 7200 platinum points. Not quite the $750 someone else got, but a reasonable deal for me. $1419 MF, So just under 20 cents a point. W57th was $1587 or 30 cents a point. (5250) So if I use them at W57th, there is a good savings. I’ll see what the extra 15 days of booking opening up does for me next year.
 

CalGalTraveler

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@tombanjo Intetesting purchase.Do you get lounge access or priority bHC booking at W57 with District points? If not, how is that different than a club point booking at 60 days?
 

tombanjo

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74-60 days is “club exchange” - 1 day minimum - I own at W57th, so I have lounge access. if I didn’t, I would not have lounge access. I assume when Quin or central come on line - it will be the same. Early booking but no lounge. A slight edge.
 

Smclaugh99

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Congrats on The District purchase - it will be interesting to see how it presents on your points dashboard. Will the bHC points at W57 have a different column than the bHC points from District, which would be different from any other HGVC club points you may have.

I found out early Dec that my EBay W57 Gold week (3750) points passed ROFR but was waiting for some confirmation before posting it. The auction was in late July and they had to wait until owners paid 2020 MF since they borrowed/used those points. The winning bid was $760; closing $599, $473 Transfer fee, $609 HGVC points activation. The $2441 has been in escrow and they will apparently send the transfer fees over to HGVC at closing. But that amount is what they submitted for ROFR (even though the winning bid was $760). Even at $2441, I did not expect Hilton to waive ROFR.

Sean
 

CalGalTraveler

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It seems there should be a notation on ROFR for units stripped of points. Otherwise ppl will think they could buy a unit for a low price with current points which could artificially lower the market.

I doubt they will separate bHC points. I also doubt they would prioritize the IT investment to govern these increasingly complex and changing rules for a small audience.

IMO the lack of lounge access for the non-owned NYC properties detracts from wanting to stay at those properties - even with early res priority because it adds to the cost of a visit - and NYC food is not cheap.
 
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Seagila

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The Hilton Club New York (HCNY)
9,000 deeded interest points for $9,650 listed with RedWeek Full-Service Listing
First year of use and MF payment in 2020
ROFR submitted 11/25/19 and passed 12/20/2019
Closing cost is $1,972 with Grand Vacations Title
, which also includes resort transfer fee, recording fees and title insurance.

I thought the closing cost was a little steep. Unfortunately, LT Transfers does not do New York deeds. Grand Vacations Title only does closings which include title insurance. I would have gotten bids from other companies that do closings in NY and tried to see if I could find it cheaper, but honestly did not think the price would pass ROFR. In December 2018, I put an offer in for 7,000 HCNY points for $9,000 (also listed on RedWeek) and HGV exercised ROFR in January 2019. Maybe it's timing. Maybe it's luck. Maybe it's both. At any rate, I hope it holds its value enough that I can recoup some if not all of my cost to acquire it when it's time to find it a new owner down the road.
 

Smclaugh99

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The Hilton Club New York (HCNY)
9,000 deeded interest points for $9,650 listed with RedWeek Full-Service Listing
First year of use and MF payment in 2020
ROFR submitted 11/25/19 and passed 12/20/2019
Closing cost is $1,972 with Grand Vacations Title
, which also includes resort transfer fee, recording fees and title insurance.

I thought the closing cost was a little steep. Unfortunately, LT Transfers does not do New York deeds. Grand Vacations Title only does closings which include title insurance. I would have gotten bids from other companies that do closings in NY and tried to see if I could find it cheaper, but honestly did not think the price would pass ROFR. In December 2018, I put an offer in for 7,000 HCNY points for $9,000 (also listed on RedWeek) and HGV exercised ROFR in January 2019. Maybe it's timing. Maybe it's luck. Maybe it's both. At any rate, I hope it holds its value enough that I can recoup some if not all of my cost to acquire it when it's time to find it a new owner down the road.
Congrats! That is a great price. One question I’ve been meaning to investigate is how the rules for renting apply to HCNY. From what everybody has said you can rent out your home week at your home resort. With HCNY, it’s points only and no specific ‘home week’. Does that mean we can rent without restriction? With MF nearly $0.30/point, it would be nice to have that option to help cover those higher fees.

Sean
 

tombanjo

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Thanks a great deal on HCNY. Congrats of getting that through
 

Smclaugh99

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Congrats! That is a great price. One question I’ve been meaning to investigate is how the rules for renting apply to HCNY. From what everybody has said you can rent out your home week at your home resort. With HCNY, it’s points only and no specific ‘home week’. Does that mean we can rent without restriction? With MF nearly $0.30/point, it would be nice to have that option to help cover those higher fees.

Sean
I found the answer I expected in the Hilton Club Disclosure statement. Can do Guest Certificate for family/friends (for a fee), but not for rental or commercial use; failure to comply can forfeit membership, yada yada. So, I guess that just means we have to find a renter who will suddenly become part of the family .
Sean
 
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Hyatt Piñon Pointe
HGVC on the Blvd
1 bedroom
3400 points annual
Purchase price $0
ROFR passed in December 2019
 
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