Anyone ever buy Hilton's Timeshares (HGVC)?

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blackomen
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Anyone ever buy Hilton's Timeshares (HGVC)?

Post by blackomen » Tue Feb 16, 2016 4:11 pm

Last year, I earned enough points to achieve Silver status with Hilton. I didn't do much.. just signed up for their credit card which gave me 40K points after spending $1000 in the first 3 months and I instantly got those points which sent me to Silver status without much work.

Fast forward later last year, I received a sales call from Hilton and they offered me a $166 package to stay 4 days 3 nights in Las Vegas. I bought it and used the offer last weekend. As part of the deal, I had to listen to a 1-2 hour sales presentation at their hotel.

I don't remember a lot of the details but they offered me a timeshare for about $14,000 which would give me about 10 or so free stays at Hilton properties every year plus a bunch of other little perks I didn't really care for. I declined since I don't travel very much and whenever I do, I usually go for the cheaper 1 or 2 star accommodations.

While I'll occasionally splurge on a higher-end hotel at the beginning or end of a trip, I'm often content saving money going for the low end accommodations like Days Inn, Motel 6, or even Hostels.

I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life but I'm curious if anyone else here actually took Hilton's offer. I understand this may be a bargain for someone who travels every few months as opposed to me (traveling once or twice a year.)

letsgobobby
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Tue Feb 16, 2016 4:30 pm

We have done these promos with Starwood (twice), HGVC (twice). All great deals. The timeshare pitch is usually pretty soft and easy to decline. It's well worth the deal because the deal is pretty amazing. For instance we got a 2 bedroom, 2 bath villa at Hilton Waikoloa for 4 or 5 nights with a rental car for about $700. And 2 tickets to a luau and $200 to spend on a future Hilton stay. Since 6 of us stayed in the room, it was quite a steal.

Would never buy a timeshare from them at retail.

You can buy these name brand timeshares about about 50-60% of face value on the resale market. If you want to use the exact timeshare you bought - same week, same location - every year, they are a fair deal. Most people do not do this. They think the can trade their timeshare for gobs of points and stay all over the world 'for free'. Well, it doesn't work that way. In most systems the best deal is at your home resort in your home week. And trading has the best value when you buy premium weeks at premium destinations, in part because you get to reserve at the earliest window.

Non-name brand timeshares are available for about $1 on EBAY. I would not touch these.

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William4u
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by William4u » Tue Feb 16, 2016 4:51 pm

Timeshares are horrible deals. Do not get suckered into one. The sales people are smooth, but it is essentially a scam.

https://investorjunkie.com/91/why-buyin ... -bad-idea/
https://www.reddit.com/r/explainlikeimf ... nvestment/

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by neilpilot » Tue Feb 16, 2016 5:24 pm

William4u wrote:Timeshares are horrible deals. Do not get suckered into one. The sales people are smooth, but it is essentially a scam.
letsgobobby wrote:Would never buy a timeshare from them at retail...... They think the can trade their timeshare for gobs of points and stay all over the world 'for free'.
Agree with the above, to a point. We've owned 2 weeks at a Marriott-managed timeshare at Hilton Head for 20+ years, and currently pay about $1000/year for each week. I'd estimate we have stayed at Hilton Head about 25% of the time, and trade the other 75%. Most of the units we've stayed at were very nice, and typically are 2-3 bedroom apartments with full kitchens, laundry, etc. If we didn't own the timeshare weeks, we would have easily paid as much or more for a hotel room in many of the destinations.

Have traded into great locations in England, Spain, Paris, Portugal, Shanghai as well as dozens of locations in NA. We've been able to invite freinds and fam ily to join us.

Letsgobobby is correct; never pay retail. We paid about 25 cents on the dollar for each of the 2 weeks we own, when compared to the "retail" prices. About $3000/week. And we bought into an area that we really liked, in a timeshare with high demand.

Agree it's not for everyone, but it works for us. We're off to Spain for Holyweek in mid-March; one week each at Marbella and Majorca. Then up to Boston in late April. Retirement is working just fine.

ianferrel
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by ianferrel » Tue Feb 16, 2016 8:19 pm

My wife's employers own a number of time shares. More than they really have an expectation of using. One of the perks of her employment is that we can use them.

She's worked there for 5 years, and this year is the first time we'll actually be using one. All the claimed ease of converting a timeshare into a stay elsewhere is nonsense. You have to plan your travel incredibly far in advance, and then cross your fingers. We are total budget-conscious travelers, and we've never been able to take advantage of "free" lodging through a timeshare, which I think demonstrates what a terrible product they are.

My parents used to own some. They eventually had to pay someone to take them off their hands because the ongoing maintenance fees were so high. What a scam.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by skepticalobserver » Tue Feb 16, 2016 9:26 pm

Not a joke: timeshare salesmen call 'em "UFOs," U friggin' Own it! There are sooo many reasons not to buy one. Try Google, it is your friend.

If you just GOT to have it take title in such a manner that you have no personal responsibility (legal talk here: "no recourse") for continuing fees in the event you walk away from the timeshare, i.e, a LLC or comparable entity. Otherwise, you've bought a UFO! When you propose this arrangement take a mental picture of the look on the salesman's face.

Please report back. Please.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by harrychan » Tue Feb 16, 2016 9:35 pm

letsgobobby wrote:We have done these promos with Starwood (twice), HGVC (twice). All great deals. The timeshare pitch is usually pretty soft and easy to decline. It's well worth the deal because the deal is pretty amazing. For instance we got a 2 bedroom, 2 bath villa at Hilton Waikoloa for 4 or 5 nights with a rental car for about $700. And 2 tickets to a luau and $200 to spend on a future Hilton stay. Since 6 of us stayed in the room, it was quite a steal.
We just got a similar deal from Starwood. Would love to hear your experience. Our issue is we are a family of 4 and we won't have anyone to watch after our kids during the pitch. I understand both husband / wife must attend. Is that correct?
This is not legal or certified financial advice but you know that already.

inbox788
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by inbox788 » Tue Feb 16, 2016 9:39 pm

blackomen wrote:Last year, I earned enough points to achieve Silver status with Hilton. I didn't do much.. just signed up for their credit card which gave me 40K points after spending $1000 in the first 3 months and I instantly got those points which sent me to Silver status without much work.

Fast forward later last year, I received a sales call from Hilton and they offered me a $166 package to stay 4 days 3 nights in Las Vegas. I bought it and used the offer last weekend. As part of the deal, I had to listen to a 1-2 hour sales presentation at their hotel.

I don't remember a lot of the details but they offered me a timeshare for about $14,000 which would give me about 10 or so free stays at Hilton properties every year plus a bunch of other little perks I didn't really care for. I declined since I don't travel very much and whenever I do, I usually go for the cheaper 1 or 2 star accommodations.

While I'll occasionally splurge on a higher-end hotel at the beginning or end of a trip, I'm often content saving money going for the low end accommodations like Days Inn, Motel 6, or even Hostels.

I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life but I'm curious if anyone else here actually took Hilton's offer. I understand this may be a bargain for someone who travels every few months as opposed to me (traveling once or twice a year.)
It's all in the details, and there's lots of smoke and mirrors. And what makes you think they won't try to sell to you again? Don't be surprised if they extend another offer soon.

Never understood those folks that want to keep going back to the same hotel and same location year after year. And paying a big fee to join the club and every year paying more than I would spend on hotels. And why would you trade such a nice hotel for something worse elsewhere? Someone is getting the short end of the straw in the trade.
harrychan wrote:We just got a similar deal from Starwood. Would love to hear your experience. Our issue is we are a family of 4 and we won't have anyone to watch after our kids during the pitch. I understand both husband / wife must attend. Is that correct?
That's so you can both sign on the dotted line when you get suckered.

letsgobobby
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Tue Feb 16, 2016 10:40 pm

harrychan wrote:
letsgobobby wrote:We have done these promos with Starwood (twice), HGVC (twice). All great deals. The timeshare pitch is usually pretty soft and easy to decline. It's well worth the deal because the deal is pretty amazing. For instance we got a 2 bedroom, 2 bath villa at Hilton Waikoloa for 4 or 5 nights with a rental car for about $700. And 2 tickets to a luau and $200 to spend on a future Hilton stay. Since 6 of us stayed in the room, it was quite a steal.
We just got a similar deal from Starwood. Would love to hear your experience. Our issue is we are a family of 4 and we won't have anyone to watch after our kids during the pitch. I understand both husband / wife must attend. Is that correct?
In our experience, Starwood did not require attendance. Instead they offered an incentive (10,000 SPG points once, 5000 SPG points or $100 the other time), to attend. We did not attend. We already had the great deal - about $500 for 4 nights at the Westin Ka'anapali plus a rental car. Didn't need to squeeze out another $100. We brought our kids, said no thank you to the presentation, were never bothered again.

HGVC requires the presentation.

harrychan
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by harrychan » Tue Feb 16, 2016 10:59 pm

letsgobobby wrote:
In our experience, Starwood did not require attendance. Instead they offered an incentive (10,000 SPG points once, 5000 SPG points or $100 the other time), to attend. We did not attend. We already had the great deal - about $500 for 4 nights at the Westin Ka'anapali plus a rental car. Didn't need to squeeze out another $100. We brought our kids, said no thank you to the presentation, were never bothered again.

HGVC requires the presentation.
Interesting. Thanks. Let me read the fine print. Our offer is $750 for 4 nights which includes rental car, $200 voucher, and a round of golf (although I don't golf...).
This is not legal or certified financial advice but you know that already.

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goingup
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by goingup » Wed Feb 17, 2016 10:27 am

harrychan wrote:
letsgobobby wrote:
In our experience, Starwood did not require attendance. Instead they offered an incentive (10,000 SPG points once, 5000 SPG points or $100 the other time), to attend. We did not attend. We already had the great deal - about $500 for 4 nights at the Westin Ka'anapali plus a rental car. Didn't need to squeeze out another $100. We brought our kids, said no thank you to the presentation, were never bothered again.

HGVC requires the presentation.
Interesting. Thanks. Let me read the fine print. Our offer is $750 for 4 nights which includes rental car, $200 voucher, and a round of golf (although I don't golf...).
These Starwood invitations are awesome deals. We just returned from Kauai where we had 5 nights, a rental car and $75 resort credit for $750. You aren't obligated to sit through the 90 minute timeshare presentation, but we got an additional $100 resort credit for doing so.

We've been pondering the benefit of owning a timeshare, but the cost at nearly $70,000 for one week at Christmas, and $2,900/yr seemed astronomical. I found this week (week 52) on the resale market for a fraction of the cost. Of course, you lose many of the privileges when you purchase resale.

Anyways, take the Starwood deal. They treat you well without exerting pressure.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Phineas J. Whoopee » Wed Feb 17, 2016 1:21 pm

blackomen wrote:...
I don't remember a lot of the details but they offered me a timeshare for about $14,000 which would give me about 10 or so free stays at Hilton properties every year plus a bunch of other little perks I didn't really care for. I declined since I don't travel very much and whenever I do, I usually go for the cheaper 1 or 2 star accommodations.
...
I agree with posters who advise against buying timeshares. I want to add that $14,000 sounds, to me, like a lot of money to pay for free stays.

To put it another way, they're framing the pitch to make the deal sound better than it is. Pay us $14,000 now to commit to spending ten nights at Hilton vacation resorts per year for the rest of your life, or choose to leave the room vacant so somebody else will pay us for the same bed you already paid for wouldn't be as appealing.

It's among the things salespeople sometimes do to achieve their employers' goals.

PJW

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by harrychan » Sat Feb 20, 2016 1:52 am

goingup wrote:
harrychan wrote:
letsgobobby wrote:
In our experience, Starwood did not require attendance. Instead they offered an incentive (10,000 SPG points once, 5000 SPG points or $100 the other time), to attend. We did not attend. We already had the great deal - about $500 for 4 nights at the Westin Ka'anapali plus a rental car. Didn't need to squeeze out another $100. We brought our kids, said no thank you to the presentation, were never bothered again.

HGVC requires the presentation.
Interesting. Thanks. Let me read the fine print. Our offer is $750 for 4 nights which includes rental car, $200 voucher, and a round of golf (although I don't golf...).
These Starwood invitations are awesome deals. We just returned from Kauai where we had 5 nights, a rental car and $75 resort credit for $750. You aren't obligated to sit through the 90 minute timeshare presentation, but we got an additional $100 resort credit for doing so.

We've been pondering the benefit of owning a timeshare, but the cost at nearly $70,000 for one week at Christmas, and $2,900/yr seemed astronomical. I found this week (week 52) on the resale market for a fraction of the cost. Of course, you lose many of the privileges when you purchase resale.

Anyways, take the Starwood deal. They treat you well without exerting pressure.
Thanks for the feedback. Looks like we just missed the deadline to sign up :(
This is not legal or certified financial advice but you know that already.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by 2cents2 » Sat Feb 20, 2016 11:40 am

blackomen wrote: I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life but I'm curious if anyone else here actually took Hilton's offer.
It sounds like you chose the grand prize option (if in fact they don't ever contact you again. :happy )

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HomerJ
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by HomerJ » Sat Feb 20, 2016 11:59 am

blackomen wrote:I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life
That would be awesome if they never offered you time shares again...

But I bet they will.

Timeshares are, hands-down, a terrible deal. And I speak from experience. It's not the initial cost, although that's bad; it's the ongoing fees every year, which keep going up. People can't even GIVE time-shares away, because no one wants to assume the obligation of those fees.

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HomerJ
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by HomerJ » Sat Feb 20, 2016 12:06 pm

Now, if you are strong enough to sit through time-share presentations, and always say no, sometimes the offer to just go to a presenation is worth taking.

My wife has dragged me to at least 5 time-share presentations so, for example, she and her sister could get free massages, and my brother-in-law and I could play golf for free.

A couple of them involved a nice walk and tour of the premises, along with a free drink or two, so not too bad.

But a couple of them have been really hard-sells, and it can be a very annoying 1-2 hours of your life wasted.

I've put my foot down that I don't want to do any more of those. We'll see if that means anything to my wife... :)

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Spirit Rider » Sat Feb 20, 2016 12:58 pm

blackomen wrote:I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life but I'm curious if anyone else here actually took Hilton's offer. I understand this may be a bargain for someone who travels every few months as opposed to me (traveling once or twice a year.)
Yeah, right. I'll believe this when I see it. Timeshares are tremendously profitable for the sellers and their salesmen. If whole life insurance and equity indexed annuities are gold mines for the insurance company and their agents, timeshares are platinum mines. I guarantee that if you approached them in the future, they would gladly sucker you into the sale.

They are never a bargain for anyone, even charities will refuse to accept them as donations. That should tell you their value. Do the math. Very often the yearly maintenance fees themselves are greater than what you could get equivalent stays at elsewhere and that is not counting the purchase price.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by ericmc » Sat Feb 20, 2016 1:28 pm

harrychan wrote: We just got a similar deal from Starwood. Would love to hear your experience. Our issue is we are a family of 4 and we won't have anyone to watch after our kids during the pitch. I understand both husband / wife must attend. Is that correct?
One trick that worked well for me in the past was taking our kids along and allowing them to run crazy at the start of the sales pitch. We were immediately offered our reward and didn't have to sit through the pitch.

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Nicolas
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Nicolas » Sat Feb 20, 2016 6:10 pm

blackomen wrote: I understand that since I declined Hilton's offer, I'll never be offered these time shares again for the rest of my life but I'm curious if anyone else here actually took Hilton's offer. I understand this may be a bargain for someone who travels every few months as opposed to me (traveling once or twice a year.)
You will likely be offered it again. We did the sales pitch thing in Orlando in 2005 and we didn't buy. We were offered again in 2008 and back we went to Orlando and sat through the whole thing again, and again we didn't buy. We didn't want to go to anyplace else though we were offered Las Vegas, etc. (We have no interest in Las Vegas). I got the impression the 2nd time around that the sales people were peeved that we did it twice, just wasting their time. I felt like a leech. We decided it wasn't worth it anymore but I'm still getting the offers every year, likely due to our membership in Hilton Honors. They smell money. I only decline now.
GATHER ye rosebuds while ye may, Old Time is still a-flying: And this same flower that smiles to-day To-morrow will be dying.-- Robt. Herrick, 1591–1674, from To the Virgins, to make much of Time

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Mudpuppy » Sat Feb 20, 2016 6:22 pm

Nicolas wrote:You will likely be offered it again. We did the sales pitch thing in Orlando in 2005 and we didn't buy. We were offered again in 2008 and back we went to Orlando and sat through the whole thing again, and again we didn't buy. We didn't want to go to anyplace else though we were offered Las Vegas, etc. (We have no interest in Las Vegas). I got the impression the 2nd time around that the sales people were peeved that we did it twice, just wasting their time. I felt like a leech. We decided it wasn't worth it anymore but I'm still getting the offers every year, likely due to our membership in Hilton Honors. They smell money. I only decline now.
In response to the sentence I bolded, do not feel bad about going on the trip and not taking the timeshare offer. They price that into the whole scheme, e.g. they expect a certain percentage of people are just there for the free trip and won't take the offer. That doesn't stop them from trying to do guilt trips to make you feel bad, but that is just part of the hard sales tactic. Ignore it.

Rest assured they're making money off of this overall, otherwise they wouldn't be doing it. It only takes a few people falling for the hard sell to make the whole package deal into a profitable venture for them.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Sat Feb 20, 2016 6:46 pm

A distinction must be made between " most time shares" and the quality branded time shares run by the hotel companies. The former are worthless and often can't be given away. The latter are definitely not worthless, and maintain a resale value of 50-70% (redweek, ebay, etc). If you want to go to Maui at peak season every year for 30 years, your Marriott timeshare will be a fair value. You cannot rent 'equivalent' places for equivalent prices: for one thing, they don't exist; for another they are very competitive and prices high during peak season. These branded timeshares are in peak tourist areas, usually on the beach, have kitchens and 1-3 bedrooms and sometime 2 baths. VRBO is rarely available for comparable settings; often you aren't on the beach, the quality standards are not up to Marriott or Starwood or HGVC standards, and even if you can find a 3 bed, 2 bath ocean front VRBO it will be many hundreds of dollars per night. We stayed in a comparable 3 BR/2 BA condo in Maui but not at spring break, just north of Ka'anapali, and it was $600 per night.

Now if you don't want to go to Maui at Christmas and have the flexibility to go in November, February, or May, and don't mind staying away from the beach, you will not think Marriott or Starwood is a good deal.

To learn more about timeshares, go to tug2.net. That will also give you a real sense of the resale and rental value of different units.

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HomerJ
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by HomerJ » Sat Feb 20, 2016 11:35 pm

My wife and I owned two weeks of Marriott timeshares... (She bought them before she met me with her first husband)

There's nothing special about Marriott.. They were still a bad deal overall, and we got rid of them.

It is true that we were able to sell them for actual money (about 1/3 of what she paid for them). Other timeshares, you can't give away I hear, so maybe you're right...

In the land of terrible deals, maybe Marriot timeshares only stink a little, instead of a lot.

But they still stink. Maintenance fees increased every year.

southbay
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by southbay » Sat Feb 20, 2016 11:41 pm

for a variety of reasons, i will NEVER buy a timeshare. which reminds me of a South Park episode...

http://southpark.cc.com/clips/153326/ti ... conspiracy

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by TravelGeek » Sun Feb 21, 2016 12:19 am

The Starwood people always send me nice offers via mail. Haven't had a chance to take them up on it and with the Marriott merger it may stop or change.

The Hilton people keep calling me and won't believe that I have no interest in Vegas or Florida vacations. I keep telling them to stop calling but they are persistent, so now I just hang up. Would never buy a timeshare.

letsgobobby
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Sun Feb 21, 2016 1:36 am

HomerJ wrote:My wife and I owned two weeks of Marriott timeshares... (She bought them before she met me with her first husband)

There's nothing special about Marriott.. They were still a bad deal overall, and we got rid of them.

It is true that we were able to sell them for actual money (about 1/3 of what she paid for them). Other timeshares, you can't give away I hear, so maybe you're right...

In the land of terrible deals, maybe Marriot timeshares only stink a little, instead of a lot.

But they still stink. Maintenance fees increased every year.
Apparently a bad deal for your lifestyle. And probably not a good deal for a lot of people who buy them.

But spend some time at tug2.net and you will find many people quite happy with their timeshares. It happens. But it's a game won by a select few who make it their passion to game the system (legally) and find great deals that they will actually use.

I've had good luck renting timeshares from folks who don't want to use their week (perhaps people who shouldn't have bought). $50 per night in Daytona (fall season), on the beach, 2 br/2ba. Hilton Hawaiian Village, oceanview, 2 br/2ba $230 per night ($600 if booked through the hotel website). For our lifestyle t's just far superior to any hotel option, especially with a family. We can eat breakfast and lunch in, cook a real little meal, have a common sitting area to meet up in, do laundry, dry our wet towels, etc. We always look for time share rentals before hotels.

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HomerJ
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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by HomerJ » Sun Feb 21, 2016 6:50 am

letsgobobby wrote:For our lifestyle t's just far superior to any hotel option, especially with a family. We can eat breakfast and lunch in, cook a real little meal, have a common sitting area to meet up in, do laundry, dry our wet towels, etc. We always look for time share rentals before hotels.
Oh I agree about that. We always rent places like that too. I do not like hotel rooms when traveling with my kids or other family, We try to rent places with a kitchen, a common area, and a couple of bedrooms.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by sesq » Mon Feb 22, 2016 11:47 am

I watched a documentary called the "Queen of Versailles" on Netflix (recommended) last night about about a family that owns a big time share operation and how things went south when access to cheap capital dried up in the financial crisis.

Anyways, the footage from the team meeting to hype up the reps was hilarious - the guy's argument was that people who relax on vacations live longer and healthier. So he was telling the sales people that they are like doctors, nurses, fire fighters and to go out there and "save lives".

They also noted that they never close a sale if a prospect doesn't close on the spot.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by NYGiantsFan » Mon Feb 22, 2016 12:38 pm

William4u wrote:Timeshares are horrible deals. Do not get suckered into one. The sales people are smooth, but it is essentially a scam.

https://investorjunkie.com/91/why-buyin ... -bad-idea/
https://www.reddit.com/r/explainlikeimf ... nvestment/
Also, check on http://stores.ebay.com/Online-Bankruptcy-Asset-Auctions or similar on ongoing basis.
Back in 2009-2011, one couldn't give away timeshare free if they wanted to. Still, after market value is extremely low.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Exterous » Mon Feb 22, 2016 1:26 pm

NYGiantsFan wrote:Also, check on http://stores.ebay.com/Online-Bankruptcy-Asset-Auctions or similar on ongoing basis.
Back in 2009-2011, one couldn't give away timeshare free if they wanted to. Still, after market value is extremely low.
Yeah now is not the time that I would look into buying one. Travel and vacations are pretty big right now (Busiest year ever for airlines in 2015, one of the busiest ever for hotels\resorts) so you're going to be paying a premium for that. If you really want one wait till travel isn't doing nearly as well and buy a time share from someone who already bought it instead of direct through the offering company

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by ianferrel » Mon Feb 22, 2016 1:37 pm

sesq wrote:They also noted that they never close a sale if a prospect doesn't close on the spot.
My wife and I went to a timeshare sales thing a year ago, and the salesman said exactly this when we asked for the information in some kind of written form that we could look over. He said they didn't do that because they found that no one ever bought one after leaving with the info. Fascinating, and kind of tells you all you need to know. If they were actually good deals (or even not-terrible deals), then some people would figure that out after running the numbers. Car sales are well known for being slimy and high-pressure, but I can't imagine a car salesman saying that he never had a customer return to buy a car later.

I countered with "there is no chance whatsoever I'm signing an obligation for tens of thousands of dollars without carefully reading the contract." It wasn't a hard sell at all. In fact, the salesman didn't seem to have much expectation that we were going to buy. He of course went through the spiel and asked for the close many times, but maybe we have a strong not-a-sucker vibe? Who are these people who make a decision to spend $20k plus ongoing fees on the spot?

They gave us $250 for what they said would be a 90 minute thing (and ended up being about 10 minutes longer). Not a bad hourly rate. The absurd amounts they have to bribe you with to get you to listen to their pitch should be enough to indicate what a bad deal it is.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by CedarWaxWing » Mon Feb 22, 2016 3:06 pm

If they know you will not take the lure... they will quickly get on to the next person asap in my limited experience.... they may or may not do that is a very abrupt and rude fashion... which is ok by me... :)

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by jazman12 » Wed Feb 24, 2016 3:32 pm

they will offer you a DEAL as long as you have HH membership and good credit. I have taken three of HGVC's and several others. It is a good source for a discounted vacation. We have gotten good at telling the salespeople upfront that we have no intention of buying we do not want to waste their time when they could have a real potential buyer waiting and they let us sign the forms and be on our way within 5 minutes.
Act soon... time is running out

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by edge » Wed Feb 24, 2016 4:12 pm

Always seemed like an inconvenient arrangement. We like to vacation wherever / whenever.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by burt » Wed Feb 24, 2016 8:47 pm

After reading this thread, I'm wondering....

Timeshares are legal; right ? :D

burt

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Valuethinker » Thu Feb 25, 2016 12:01 pm

I can't share my experiences but which were not in a financial field.

It was intellectually interesting to be "worked on" and to see what various individuals' "break point" was. Kind of interesting to watch yourself being manipulated.

Believe me, given enough time, they can get anyone.
Last edited by Valuethinker on Thu Feb 25, 2016 12:20 pm, edited 1 time in total.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Valuethinker » Thu Feb 25, 2016 12:04 pm

In the world of AirBnB and such like, I can't believe timeshares have an earthly purpose, other than to enrich the people selling timeshares.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Mudpuppy » Thu Feb 25, 2016 12:09 pm

Valuethinker wrote:In the world of AirBnB and such like, I can't believe timeshares have an earthly purpose, other than to enrich the people selling timeshares.
Having a purpose and being legal are two entirely separate things though.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Valuethinker » Thu Feb 25, 2016 12:12 pm

burt wrote:After reading this thread, I'm wondering....

Timeshares are legal; right ? :D

burt
Manipulation is not illegal.

There are harmless kinds: watch the faces at a Taylor Swift concert. She's manipulating them, and they are loving it. So is Steven Spielberg in "Bridge of Spies"-- but it provides 2 hours of marvelous entertainment.

And there are useful kinds: manipulation and indoctrination is what the US Marines do in Boot Camp, and the Israeli military. It serves a greater social purpose- -the more disciplined, highly trained and committed army will more likely win, and fewer of their boys will go home in bodybags. My father could field strip a Bren gun in perfect darkness-- which on some jungle patrol was doubtless quite useful.

And then there are the kinds where the people doing it have neither a higher purpose nor your best interests at heart ....

There's a reason for those millions of pages of SEC rules, laws on investment promotions etc. Doesn't stop people paying 5% fees to some "private label" Real Estate fund. But at least there's some protection.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by Valuethinker » Thu Feb 25, 2016 12:13 pm

Mudpuppy wrote:
Valuethinker wrote:In the world of AirBnB and such like, I can't believe timeshares have an earthly purpose, other than to enrich the people selling timeshares.
Having a purpose and being legal are two entirely separate things though.
+1

One would like to think things without social purpose would be competed out of existence... but that is incredibly naive ;-).

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by prudent » Thu Feb 25, 2016 12:34 pm

Valuethinker wrote:I can't share my experiences but which were not in a financial field.

It was intellectually interesting to be "worked on" and to see what various individuals' "break point" was. Kind of interesting to watch yourself being manipulated.

Believe me, given enough time, they can get anyone.
Not sure if they can get anyone, but without question those people are superstars of sales. They know how to read people, knock aside any objections, they will mold their own personality into whatever they think will make you sign on the dotted line. If they think one spouse is more eager then that's the one they will work on so it will become the salesperson plus the one spouse ganging up to convince the reluctant one. And I wouldn't be surprised if some of them even lie. I think of how many people have left those timeshare sales pitches after signing up and wondering how in the world that happened.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by obgraham » Sat Jan 12, 2019 12:56 pm

Interesting to resurrect this thread after a couple of years. Just sat through the HGVC spiel in Las Vegas. What a slick bunch of operators. Smooth talking salesman, more aggressive "manager" (aka the Closer!), and finally brusque final manager to shuffle you out if you don't buy.

Where else would folks be pitched to spend such amounts after only a 2 hour sales talk -- and now the amounts have shot up. Our package was $67K, not the $20K discussed here! (Of course, "with no actual cash outlay today"!)

They also have de-emphasized the timeshare aspect, and pushed the idea of staying at their branded resorts around the world. But I suspect there is a big difference between the theory of their plan and the actual delivery of the product: i.e. "availability"!

Still a scam, IMHO!

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by HomerJ » Sat Jan 12, 2019 2:15 pm

It's important to note how hard they have to SELL these.

If they were a great deal, people would be fighting to BUY them.

If a product has a whole TEAM of salesmen working on you, it's a pretty good sign it's a bad deal.

Watching a commercial one night about some pills (not FDA approved - they were "herbal") that was "guaranteed" to grow all your hair back, I remarked to my wife,

"You know, if that actually worked, they wouldn't have to advertise it. Their only problem would be to find a way to spend their 100 billion dollars."
The J stands for Jay

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by JediMisty » Sat Jan 12, 2019 2:59 pm

I bought three timeshares all for pennies on the dollar resale. If you're going to the same place at the same time every year, you have the equivalent of an apartment, often with a fully appointed kitchen and washer/dryer. I treated family members to visits in my home units. The maintenance fees did steadily rise. From attending owner meetings, I figured out that the original builders kept enough of the units so that they could vote to choose the maintenance companies. I speculate that they had ownership in the maintenance companies. If you "banked" your points or weeks (I used one of the two big companies) and traded them, the fees were outrageous. And just as I got great at trading far enough in advance to trade up, they'd rejigger the trading to charge fees for the set ups that were in advance. As little as I paid, I had to give them away AND prepay the next year's maintenance fees. I am now free of all three units (four weeks worth each year ). Under only very rare circumstances are they worthwhile.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by David Jay » Sat Jan 12, 2019 3:37 pm

burt wrote:
Wed Feb 24, 2016 8:47 pm
Timeshares are legal; right ? :D
So are equity-indexed annuities inside an IRA.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by gasdoc » Sun Jan 13, 2019 9:44 am

Would you buy something where they charge you a price now, but then said "we can charge you and your descendants anything we want every year from now on?"

gasdoc

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by RickBoglehead » Sun Jan 13, 2019 9:52 am

OP will be get more offers in the future. He's now categorized in the prospect database as a "possible live one". Hilton will also watch where OP goes on his trips (when he stays with them), and tailor offers that he might like.

Hilton may also rent his name to related companies for related offers.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Sun Jan 13, 2019 3:12 pm

About to go to another HGVC presentation. This will be our fourth I think. This week is $1700 for a 2br/2 ba brand new tower at Hilton Hawaiian Village, at spring break. Fantastic price for quality and location. Worth the 90 minute presentation.

Still think about buying resale but would never buy new.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by SRenaeP » Wed Jan 16, 2019 4:05 pm

I'm an HGVC owner. My experience hasn't been bad but I still wouldn't recommend buying new or resale. IMO, there are too many units for rent on TUG, Redweek, etc. to actually justify buying one of your own.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by letsgobobby » Wed Jan 16, 2019 5:24 pm

SRenaeP wrote:
Wed Jan 16, 2019 4:05 pm
I'm an HGVC owner. My experience hasn't been bad but I still wouldn't recommend buying new or resale. IMO, there are too many units for rent on TUG, Redweek, etc. to actually justify buying one of your own.
Mostly agree. Where do you own?

I would only consider buying resale if I wanted to being a high demand location such as Oahu every year at a high demand time like spring break, and could plan 9-12 months in advance.

We've been able to rent some, but not every, Spring Break at HHV for several years.

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Re: Anyone ever buy Hilton's Timeshares (HGVC)?

Post by SRenaeP » Wed Jan 16, 2019 6:12 pm

letsgobobby wrote:
Wed Jan 16, 2019 5:24 pm
SRenaeP wrote:
Wed Jan 16, 2019 4:05 pm
I'm an HGVC owner. My experience hasn't been bad but I still wouldn't recommend buying new or resale. IMO, there are too many units for rent on TUG, Redweek, etc. to actually justify buying one of your own.
Mostly agree. Where do you own?

I would only consider buying resale if I wanted to being a high demand location such as Oahu every year at a high demand time like spring break, and could plan 9-12 months in advance.

We've been able to rent some, but not every, Spring Break at HHV for several years.
Vegas. I think our paths may have crossed on TUG. Spring break at HHV rings a bell. :D

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