Posted on March 19, 2021
For over 100 years Hilton has been known for providing high quality vacation accommodation. As one of the most recognized hospitality brands in the world, it was only a matter of time before Hilton ventured into the timeshare space, opening The Flamingo in Las Vegas in 1994. The entity which became Hilton Grand Vacations was born, and now that Hilton has announced its industry-shaking purchase of Diamond Resorts, the company is poised to become the second largest timeshare operator in the world (behind Wyndham) with 725,000 members.
With this kind of brand recognition, scope of service and membership base, is it accurate to wonder how hard it will be to sell a Hilton timeshare? In the current COVID climate, it is a fair question but Hilton has so much going for it that selling a Hilton timeshare is a simpler process than the average timeshare.
It is no secret that timeshares associated with popular branded hospitality providers are in higher demand than most non-branded timeshares on the market. Hilton stands at the top of the prominent brands in timeshare, and with adding 90 resorts through the Diamond acquisition to its existing 60+ resorts, a Hilton timeshare will be an even more desirable vacation option.
Don’t lose sight of the fact that the connection with the Hilton Honors loyalty program provides an added bonus for timeshare owners. With over 5,500 accommodation properties in more than 100 countries, Hilton’s significant global reach gives even more vacation options for timeshare owners.
Hilton timeshare owners are automatically enrolled in the Honors program and can use their Hilton Club points toward accommodation within the Hilton hotel network. Owners also benefit from perks such as discounted travel products, car rentals and associated purchases. Since this benefit transfers to a new owner on the resale market (whereas not all hospitality benefits transfer with other brands), this is a significant selling point when promoting Hilton timeshare ownership.
Anyone finding it hard to sell a Hilton timeshare needs to understand that it is as much about market forces as anything to do with Hilton. Even with the COVID factor, Hilton is one of the quickest timeshares to move on the market but there are several things to keep in mind when selling a timeshare:
Your decision to sell also involves your commitment level to the process. How much time and effort do you want to commit to the sales process? The Hilton brand certainly makes it easier to sell than most timeshares, but how and with whom you choose to work with can determine how easy or hard it is to sell your Hilton timeshare.
There are essentially three ways to sell – by yourself, through an online advertising service or through a licensed agent. Selling it yourself involves your own process and promotional avenues such as word of mouth, social media or perhaps through newspapers or magazines. This would take the most effort since it would be up to you to find and contact the buyer.
Using an online timeshare resale advertising service allows you to leverage the marketing tactics used by the company to target potential buyers looking for Hilton timeshare points. You would still be the one to negotiate with the buyer and remember that advertising fees are paid in advance regardless of whether a sale is made. If you choose this option, be sure to search for the company online through generic searches using buyer-related search terms. If you cannot find the company in a simple search, then neither can a buyer.
The third method is the easiest. A licensed agent works through either a third-party timeshare resale brokerage or can work through Hilton (more on this below). Agents work on commission, so they don’t get paid unless a sale is made and they work to find the buyer through various means – similar to a real estate agent. Agents handle the negotiation and prepare the paperwork, so all a seller primarily needs to do is hire the agent and approve the deal.
Hilton has in-house staff that may be able to assist you as you look to sell your timeshare. They work closely with brokers such as ours to network and find buyers for owners, but keep in mind they charge higher commission fees than most brokers – 25% of the sale price. The timeshare broker world is a rather small universe, and we all know each other and work together on a daily basis to match up sellers with buyers to co-broke deals. Chances are particularly good that you can use a third-party brokerage firm and save money with lower commission fees when your property sells.
Hilton operates with a right of first refusal policy on the resale market, which is good news for sellers. Because Hilton reviews all resale transactions, they work to maintain a certain level of price integrity for their products on the secondary market. This helps keep resale values reasonable and allows for a better return for owners looking to sell.
When a buyer is found, the transaction is reviewed by Hilton and, depending on the details, Hilton may choose to buy back the timeshare themselves. This can happen in cases where the resale price is lower than what Hilton has designated. If the price for the sale is higher than what Hilton has designated, they allow the deal to go through. If not, they may decide to buy it back. In either case, the owner sells and transitions out of their ownership.
This is a lot of information to digest, but Hilton timeshare owners are in an envious position compared to most timeshare owners looking to sell. If you have questions, you can give one of our agents a call on 877-624-6889 or contact us by clicking here for a no obligation consultation.