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HGVC 57th Street

Asl18940

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Can anyone describe how the HGVC system differs at this facility as opposed to all the others? I'm not sure it does, but in speaking with a representative, she indicated that it works on a slightly different model. I'm supposed to stay there shortly (time share presentation, though I'm already an Elite Plus member, so I am not sure what additional services they could offer. Any insights?
 

Talent312

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From Page 110, Members Guide (not personal experience)...
-- Unique "Home Resort" reservation-window from 9m - 45d b4 check-out.
-- Club reservations for the riff-raff don't start until 45d out.
-- Open Season reservations starting 15d out are limited to owners.
-- Owners' Lounge open to owners only.
-- On site spa and conccierge.

This property is otherwise a HGVC resort... it's Hilton Club - NY that's a separate program.
 
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jin

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From Page 110, Members Guide (not personal experience)...
-- Unique "Home Resort" reservation-window from 9m - 45d b4 check-out.
-- Club reservations for the riff-raff don't start until 45d out.
-- Open Season reservations starting 15d out are limited to owners.
-- Owners' Lounge open to owners only.
-- On site spa and conccierge.

This property is otherwise a HGVC resort... it's Hilton Club - NY that's a separate program.

Also, there is a $95 cleaning fee for stays 3 days or less, and only 1 day is necessary to book on open season, vs the usual 2.
 

Asl18940

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Also, there is a $95 cleaning fee for stays 3 days or less, and only 1 day is necessary to book on open season, vs the usual 2.

I'll be very interested to see how they pitch me on this. My biggest concern would be that the facility charges a much higher tax and maintenance fee than the Las Vegas properties. I thought perhaps they were trying to present a fractional ownership or residency club type of format, like I have at the Grand Luxxe. Thanks for the info.
 

Adrienne

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I'm going to New York for a timeshare presentation soon as well. I'll be curious to see how your pitch goes.

In Hawaii, I was an easy sell. They had me at Aloha. But doubt I'll be remotely tempted in NYC. W 57th is expensive and the Hilton Club RTU expires in 20 years, so not really an investment.
 

Talent312

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... [D]oubt I'll be remotely tempted in NYC. W 57th is expensive and the Hilton Club RTU expires in 20 years, so not really an investment.

No TS is an "investment," more like a wasting-asset.
For some folks, RTU is attractive 'cuz the MF's will stop w/o going thru a sale.
 

Adrienne

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I agree that a timeshare is not an investment, but Manhattan might be an exception, over time, because there is such limited space and NYC will always be an attraction.

I'm thinking in terms of children and grandchildren.
 

PigsDad

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I agree that a timeshare is not an investment, but Manhattan might be an exception, over time, because there is such limited space and NYC will always be an attraction.

I'm thinking in terms of children and grandchildren.
Try telling that to the owners of Manhattan Club.

Whether a timeshare has any value really has to do with how the maintenance fees compare to the value you get out of your week's stay. It has very little or nothing to do with the underlying value of the property.

If your MFs are way out of control (like at MC), then the timeshare is a net liability -- you pay more in MFs than the value of a week's stay.

The opposite is true. If there was a timeshare in, say, Orlando, with MFs of $100, that timeshare would most likely be worth more than a MC week. The underlying real estate value means nothing.

Kurt
 

Asl18940

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So if I understand correctly, this is not a deeded property, but more of a 20 year lease arrangement? I also saw someone posted about Hawaii. That's basically how I keep my HGVC going -- I book at the Lagoon Towers and then sell the weeks. I was also doing that at the International Drive facility, but since Parc Soleil opened it's not been as simple. But I never bought these timeshares for the classic return on investment concept. When I think of the family times we've had together at International Drive and some other HGVCs, that's the return I was always looking for.
 

Adrienne

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True, you don't buy a timeshare for the monetary gains and, true, the Hilton Club people's monetary investment will simply fizzle in 20 years. (Though they will have had a good time.) But the people who bought into W57th might actually make some bucks over time, or at least their children or grandchildren will. Space is at such a premium in NYC. If the maintenance fees stay reasonable, it's possible they might be able to sell that share at a handsome profit.
 

sjuhawk_jd

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True, you don't buy a timeshare for the monetary gains and, true, the Hilton Club people's monetary investment will simply fizzle in 20 years. (Though they will have had a good time.) But the people who bought into W57th might actually make some bucks over time, or at least their children or grandchildren will. Space is at such a premium in NYC. If the maintenance fees stay reasonable, it's possible they might be able to sell that share at a handsome profit.

Odds are better for making money in a Las Vegas Casino than by investing in HGVC West 57th street timeshare. Timeshare (even in NYC) will only depreciate in value as inventory increases.
 

Omne

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True, you don't buy a timeshare for the monetary gains and, true, the Hilton Club people's monetary investment will simply fizzle in 20 years. (Though they will have had a good time.) But the people who bought into W57th might actually make some bucks over time, or at least their children or grandchildren will. Space is at such a premium in NYC. If the maintenance fees stay reasonable, it's possible they might be able to sell that share at a handsome profit.

All depends on what you paid. I got 14,000 points for $7,000 at HCNY. That averages out to about $330/yr upfront cost and $2800MF +taxes of $420. At that price, if it starts to age out just buy another one. I'm assuming they will shift the RTU dates through another offering.

Deeded access is subject to a lot of things also such as bankruptcy and statutory changes.

I personally think the best way to view it is as a non-investment vacation club that will encourage more trips and maybe save some money. Kind of like Social Security, nobody really know what will be happen in 20 to 30 years.
 

Asl18940

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My view has always been that the ROI is on the time spent with family and on vacation. If you are committed to vacations, the real analysis is how much you'd spend on a large suite or two separate rooms for the duration of your stay. That tips in favor of a quality vacation club. It's true that you can buy someone's week at a relatively good price off e-bay, but you are putting faith in others' representations -- usually complete strangers you'll never see or meet.
 

travelguy

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My view has always been that the ROI is on the time spent with family and on vacation. If you are committed to vacations, the real analysis is how much you'd spend on a large suite or two separate rooms for the duration of your stay. That tips in favor of a quality vacation club. It's true that you can buy someone's week at a relatively good price off e-bay, but you are putting faith in others' representations -- usually complete strangers you'll never see or meet.

Wow, sounds like something right out of the HGVC Salespersons Guide to Timeshare Sales Presentations!
 

Asl18940

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Pretty much, I agree. But I was badly burned on e-bay, so you have to really check the details. Hopefully, I'll get a few commission checks!
 

tahoeJoe

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Also, there is a $95 cleaning fee for stays 3 days or less, and only 1 day is necessary to book on open season, vs the usual 2.

Does anyone know if there is a cleaning fee on a 4-night stay booked through RCI? It is WAY cheaper to exchange in to West 57th through RCI than to use HGVC points internally.

-TJ
 
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