Question about renting HHI reservation

[Wayland10]

Hello! I booked a one week reservation for a studio at one of our home resorts, HHI, for (details removed by mod). Now there is a chance we may be out of the country during that period and substantially longer. If I decide to rent the confirmed reservation instead of canceling, how much is it reasonable to ask per point? I’ve looked at various rental sites and can’t find many comparable ressies up for sale. I’ve never had to rent before (we’ve always used all our points!) and I want to ask for a reasonable amount if I go ahead.

 

[CarolMN]

For HHI, I'd look at cash prices for that week, apply a reasonable discount (maybe 25%-30% ??) and offer that price. Not sure th usual per point range for confirmed WDW reservations would really help much. Good luck!

 

[Wayland10]

For HHI, I'd look at cash prices for that week, apply a reasonable discount (maybe 25%-30% ??) and offer that price. Not sure th usual per point range for confirmed WDW reservations would really help much. Good luck!

Thanks! It’s a sold out, highly desirable week, so there’s no room rates showing up. I’ll try to check what they were for this year.

 

[kristenrice]

The "issue" with HHI is that the cash price is often "low" (perhaps not during peak seasons, though) and that makes point "value" much lower.

Things have probably changed, but several years ago, we needed to add on a night in a 2BR and the cash price was just over $400. The points for that night were 56 which meant that I'd have to find rental points for around $8/point just to break even. Even at today's rates, I highly doubt it is cost effective to rent points on weekend nights. I can't believe the cash price is THAT much...

A week in a studio during peak season (129 points) would cost about $330/night if rented for $18/point. I don't know the cash cost for peak season, but if it's comparable, it would be difficult to justify renting. The BIG advantage to renting during peak season is AVAILABILITY. If you have a confirmed reservation to rent during the summer, pretty much any price is "fair" since it's probably the only way someone is going to get to go.

 

[Wayland10]

The "issue" with HHI is that the cash price is often "low" (perhaps not during peak seasons, though) and that makes point "value" much lower.

Things have probably changed, but several years ago, we needed to add on a night in a 2BR and the cash price was just over $400. The points for that night were 56 which meant that I'd have to find rental points for around $8/point just to break even. Even at today's rates, I highly doubt it is cost effective to rent points on weekend nights. I can't believe the cash price is THAT much...

A week in a studio during peak season (129 points) would cost about $330/night if rented for $18/point. I don't know the cash cost for peak season, but if it's comparable, it would be difficult to justify renting. The BIG advantage to renting during peak season is AVAILABILITY. If you have a confirmed reservation to rent during the summer, pretty much any price is "fair" since it's probably the only way someone is going to get to go.

Thank you- that’s the dilemma I’m having. If we have to rent the confirmed ressie I’d like to break even, but don’t want to gouge people! It’s a very desirable week.

 

[kristenrice]

Thank you- that’s the dilemma I’m having. If we have to rent the confirmed ressie I’d like to break even, but don’t want to gouge people! It’s a very desirable week.

I don't think you would be "gouging" people, necessarily, if you offered the reservation at the "going rate" for point rentals...around $18-$20/point. Would it be more than rack rate? Quite possibly...but if there are NO rooms available, rack rate is a moot point. Put yourself in a prospective renter's shoes...if someone wants to go that bad, then this may be their ONLY option.

Hopefully, it won't come to this and you will still be able to go

 

[Genie+]

Part of the rental game is timing. Even for higher demand rooms, there’s just not as many people thinking about it 11 months out. They’re not even thinking about if they want it yet. Serious interest may not happen until 3-6 months out, and at that point room discounts may open (not sure HH is similar to WDW resorts like that?). Sometimes it takes waiting closer to the date for a buyer to come along.

I mention this because it can feel discouraging waiting months without getting any real bites. That last window is where alot of interest shows up. Late bookers who also missed finding cash room discounts. So there’s a little bit of a game to play. If you’re not getting hits right away, do you lower the price or wait to take your chances with that more golden window at the end, where people are generally more willing to pay higher. This is part of why confirmed reservations have impacted 7 month trading - one of the many reasons repeat for-profit renters realize it’s best to grab anything higher demand in near-term dates.

 

[hhisc16]

Hello! I booked a one week reservation for a studio at one of our home resorts, HHI, for (details removed by mod). Now there is a chance we may be out of the country during that period and substantially longer. If I decide to rent the confirmed reservation instead of canceling, how much is it reasonable to ask per point? I’ve looked at various rental sites and can’t find many comparable ressies up for sale. I’ve never had to rent before (we’ve always used all our points!) and I want to ask for a reasonable amount if I go ahead.

A studio at DHHIR during summer (May, June, July, August) goes for 500+ a night on cash.
Sun-Thurs are 15 points a night and weekends are 27.

If other seasons (Fall, Winter, Spring), then it may vary on pricing.
Studios are DHHIR are staying booked year round now.

 

[kristenrice]

A studio at DHHIR during summer (May, June, July, August) goes for 500+ a night on cash.
Sun-Thurs are 15 points a night and weekends are 27.

If other seasons (Fall, Winter, Spring), then it may vary on pricing.
Studios are DHHIR are staying booked year round now.

Based on that, if I were the OP, I would list the reservation for $20/pt. The renter would still be saving about $150/night and given that there is no other option, I would say that's a pretty good deal.

 

[Wayland10]

Part of the rental game is timing. Even for higher demand rooms, there’s just not as many people thinking about it 11 months out. They’re not even thinking about if they want it yet. Serious interest may not happen until 3-6 months out, and at that point room discounts may open (not sure HH is similar to WDW resorts like that?). Sometimes it takes waiting closer to the date for a buyer to come along.

I mention this because it can feel discouraging waiting months without getting any real bites. That last window is where alot of interest shows up. Late bookers who also missed finding cash room discounts. So there’s a little bit of a game to play. If you’re not getting hits right away, do you lower the price or wait to take your chances with that more golden window at the end, where people are generally more willing to pay higher. This is part of why confirmed reservations have impacted 7 month trading - one of the many reasons repeat for-profit renters realize it’s best to grab anything higher demand in near-term dates.

Thank you for this advice! I won’t know for a few weeks if I need to rent, and I would probably get discouraged if it didn’t sell quickly, so I’ll keep this in mind.

 

[Wayland10]

A studio at DHHIR during summer (May, June, July, August) goes for 500+ a night on cash.
Sun-Thurs are 15 points a night and weekends are 27.

If other seasons (Fall, Winter, Spring), then it may vary on pricing.
Studios are DHHIR are staying booked year round now.

Wow! That’s more than I’d expected.

 

[muppets3d]

I just don't know how in-demand this resort is for people who are not DVC owners. I'm sure folks on here have their finger on the pulse of that. I do know that it can be a tough resort to book on points at certain times of the year unless you own points there. It would seem to me that you'd be better off booking something at a WDW resort for the same time period and selling that reservation. I've had luck booking anything on property - even OKW studios - and they often rent quickly.

What you could do is go ahead and offer the HHI room for rent now, and if it doesn't rent soon - at the 7 month mark swap it for a WDW property and try again.

 

[Judique]

@Wayland10 - If this was a recent 11 month booking, why not cancel and bank for next year if you can't use it as is?

DHHIR has an appeal for many DVC owners who already own points and love it there. That doesn't always translate to paying WDW prices for cash nights for a week. It's not like the resort has a monopoly here on an attraction such as a WDW park.

As you probably already know Hilton Head itself is a place overrun with timeshares and hotels and beach access. Even for me, a diehard WDW and Hilton Head fan, paying $500 for a studio a night in summer is a stretch just for a chance to visit with Pluto. There are just so many other options.

I would also agree with @muppets3d 's strategy if you want to maximize the $ per point profit. That way, you should know fairly quickly what way to go.

 

[Wayland10]

@Wayland10 - If this was a recent 11 month booking, why not cancel and bank for next year if you can't use it as is?

DHHIR has an appeal for many DVC owners who already own points and love it there. That doesn't always translate to paying WDW prices for cash nights for a week. It's not like the resort has a monopoly here on an attraction such as a WDW park.

As you probably already know Hilton Head itself is a place overrun with timeshares and hotels and beach access. Even for me, a diehard WDW and Hilton Head fan, paying $500 for a studio a night in summer is a stretch just for a chance to visit with Pluto. There are just so many other options.

I would also agree with @muppets3d 's strategy if you want to maximize the $ per point profit. That way, you should know fairly quickly what way to go.

Hi @Judique,
I did think of doing that and I still might. I guess I’m holding onto hope that I’ll be able to use it myself, but I might swap it out if I can’t. We bought at HHI specifically to stay there, so I’m not used to using those points elsewhere!

 

[muppets3d]

As you probably already know Hilton Head itself is a place overrun with timeshares and hotels and beach access. Even for me, a diehard WDW and Hilton Head fan, paying $500 for a studio a night in summer is a stretch just for a chance to visit with Pluto. There are just so many other options.

That was my sense as well, there are too many options in the area for people to consider spending that kind of money - especially for a non-beachfront property (yes, I've stayed at HHI and know about the wonderful beach house).