posted 05-30-2005 12:11               

quote:

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Originally posted by bdurstta:
It would appear that HGVC is exercising its FROR for any "good" details. Anyone have any idea why?

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Sure. Why not buy cheap and sell high if you can. That's what they're doing. If they can get a week they sold for $15,000 originally, buy it back for $5,000 and then sell it again for $15,000, wouldn't you do it?

posted 05-30-2005 14:34               

Branding takes a lot to accomplish and maintain, and there is a cost to both buying such a brand and the prestige/amenities that come along with it, as there is also a cost at maintaining the brand quality.

On the flip side, I think that Marriott has a strangle hold on the resale market for thier TS but limiting the benefits of noght purchased through Marriott. There should be a happy medium somewhere that the company can preserve the brand and the purchaser feels they are receiving a value for the brand through resale.

Cheers,

Steve

posted 05-30-2005 18:38               

quote:

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Originally posted by OnMedic:

On the flip side, I think that Marriott has a strangle hold on the resale market for thier TS but limiting the benefits of noght purchased through Marriott. There should be a happy medium somewhere that the company can preserve the brand and the purchaser feels they are receiving a value for the brand through resale.

Cheers,

Steve

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The only limit Marriott has is not being able to exchange your unit EOY for points. Not much of a strangle hold IMO.

There are some decent travel package deals that might cover the cost of your MF's and exchange fee's for converting to points but, on a whole it's not a great deal.

For example, they were recently offeing a photo iPod 60gb for 114,000 rewards points. That's greater than one years exchange for points and the MF for that one year is $899. I can buy a 60gb photo iPod for around $500. Some deal huh?

In fact, I think about the only good deal with MR points are the travel packages where you get 7 nights hotel and 70,000 FF miles for around 238,000 points. Of course, if your unit only draws 100,000 points in exchange and they'll only let you exchange every other year, it's going to take you 6 years to accumulate enough points to take that trip.

Depending on what resort you own at and what the MF's are at that resort depends on how bad of a deal your getting. At on resort, that amount of points would cost $2,487 plus the exchange fee's for converting to points (3 years worth). At our other resort they would cost $2,139. Depending on where you go and what the airfare might be would make or break the deal. Our upcoming flight to Barcelona is costing my $1,221. You'd have to add the accomadations cost for a week to see how it would come out in the end but, if it were over $1,226 for 7 nights ($180/night) then you've made a good exchange.

posted 05-31-2005 08:03               

Until what point can HGVC exercise their ROFR? I purchased a resale in Las Vegas, and have had the deed recorded in Clark County. Am I safe at this point?

TIA

posted 05-31-2005 15:26               

quote:

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Originally posted by icroyals:
Seth--

Until what point can HGVC exercise their ROFR? I purchased a resale in Las Vegas, and have had the deed recorded in Clark County. Am I safe at this point?

TIA

[This message has been edited by icroyals (edited 05-31-2005).]

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If you're deed has been recorded in your name, then your safe. The sale has been completed and the unit has passed under the ROFR.

posted 05-31-2005 15:29               

Going rates appear to be (without Hilton exercising) are:

Platinum 4,800 - $8,000
Gold 5,000 - $7,500

I can;t blame them. If I was a manufacturer or supplier of a premium product or service, I would be getting a little irritated if I saw it being devalued.

Cheers,

posted 06-01-2005 09:23               

quote:

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Originally posted by OnMedic:
FYI - HGVC does not have a RFOF at the Flamingo...

Going rates appear to be (without Hilton exercising) are:

Platinum 4,800 - $8,000
Gold 5,000 - $7,500

I can;t blame them. If I was a manufacturer or supplier of a premium product or service, I would be getting a little irritated if I saw it being devalued.

Cheers,

Steve

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Steve,

They arent being devalued...They were always that value. Hilton is charging above value.

Is Safeway or other supermarkets selling under value when they sell a six pack of Coke for $1.99 because Disney World sells one single Coke for $6 or is Disney just charging way more than everyone else in the world?? Maz

posted 06-01-2005 19:03               

quote:

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Originally posted by dougp26364:
If you're deed has been recorded in your name, then your safe. The sale has been completed and the unit has passed under the ROFR.

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Hilton must be notified of pending sales. If one does not notify them of the sale for a property that has right of first refusal (not all of their properties, nor all phases within a property have right of first refusal), they can refuse to do the transfer even after it has been recorded in your name.

posted 06-03-2005 08:06               

quote:

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Originally posted by sethnock:
Hilton must be notified of pending sales. If one does not notify them of the sale for a property that has right of first refusal (not all of their properties, nor all phases within a property have right of first refusal), they can refuse to do the transfer even after it has been recorded in your name.

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Well, I'm not sure if I should be nervous or not. I called HGVC to find out what I need to do to transfer club membership. They told me they needed copies on the Purchase Agreement and the recorded deed. They also faxed me a "Buyer and Seller Request to Waive Developers Right of First Refusal" form. The TS is a 4800 1 bdr platinum event week 52 at the Flamingo.

posted 06-05-2005 08:42               

quote:

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Originally posted by OnMedic:
I am told by my agent that Hilton does not have a FROR for the Flamingo, so you should be safe! They did not develop that club and purchased it converting it into a HGVC. They could apply to have a FROF applied to all ownerships, but have never done so to date. This was the story in April, and I don;t know if anything has changed since.

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I think your agent doesn't know diddly about this one....HGVC was preselling HGVC Flamingo before or around the time they broke ground on the place (there was a model on the building in the Flamingo lobby; much like they later did in the hallway at LV Hilton for that HGVC location). I really doubt that someone else bought that land from Hilton and that Hilton later took over the developement from another party..

I'm too lazy to dig out my documents and read through the whole thing but it's very likely that they hadn't thought of ROFR back then (over 10 years ago) and did not include it in the Flamingo documents. I really doubt that they could add ROFR to it retroactively; if they didn't include it originally, they're not going to be able to do it now. And why bother; 200 units is a small number of the total in HGVC and it gets smaller every year. Just who would they "apply" to to add ROFR to contracts that did not contain it originally? Makes no sense at all..