Just Rescinded 2,000 Hyatt points

[icydog]

2000 points at Windward for $19900. I'm here at Bonita Springs. What do you think? What's the rescinsion period just in case?


Never mind I just rescinded. I'm going to tell everyone why in a new post which I'll link here

 

[WalnutBaron]

It sounds a bit high, although I admit I've never seriously looked at the resale market for HRC properties in Florida. We recently closed a Christmas week 2200 point Diamond contract at Hyatt Pinon Pointe for $14,000 if that helps you in terms of a reference point.

If you look at Kal's Chart on Hyatt Resales, it shows a Beach House that failed ROFR at $2,000 for a 2000 point contract in May 2017 and an EOY 2000 point contract at Coconut Plantation that passed ROFR for $3200 in August of last year.

I do know that Hyatt is starting to more aggressively exercise ROFR for Florida properties, so that may have some influence on pricing.

 

[tegs_1980]

Also for reference, we bought a 2200 week 7 at hyatt high sierra lodge back in january for 11500. Everyone warned us about ROFR but had no issues whatsoever. Very smooth sale.

Sent from my SM-G920P using Tapatalk

 

[icydog]

From what I was told, and I know that may be a little south of the truth, Hyatt's new point contracts will supersede their weekly contracts. In other words, if I don't own a week now, and I buy a resale week, I won't be able to get into a their point program.

I won't be grandfathered.

 

[dagger1]

From what I was told, and I know that may be a little south of the truth, Hyatt's new point contracts will supersede their weekly contracts. In other words, if I don't own a week now, and I buy a resale week, I won't be able to get into a their point program.

I won't be grandfathered.

Since I recently purchased three separate Hyatt weeks resale, I am interested in what you mean.. How will points contracts supersede deeded weeks/units? What won't I be "grandfathered" in? I am not interested in purchasing just points, I want the specific weeks/units I purchased...

 

[rickandcindy23]

Is that EOY, Marylyn? I am wondering because we were quoted twice that price for annual points at Hyatt Pinon Pointe in January. Are you sure they aren't pulling the wool over your eyes????

You know the TUG mantra, Marylyn, never buy from the developer. You can always save over buying from the developer. And I am sure your salesperson is misrepresenting something, because they cannot take benefits away from current members.

 

[Kal]

From what I was told, and I know that may be a little south of the truth, Hyatt's new point contracts will supersede their weekly contracts. In other words, if I don't own a week now, and I buy a resale week, I won't be able to get into a their point program.

I won't be grandfathered.

Not necessarily. Hyatt will roll out the points program in geographical increments. First in Florida, then later moving across the country. Even then, there will be some resorts which will continue selling weeks. That means a person can still purchase weeks from Hyatt or resale, but with limitations.

 

[dagger1]

Not necessarily. Hyatt will roll out the points program in geographical increments. First in Florida, then later moving across the country. Even then, there will be some resorts which will continue selling weeks. That means a person can still purchase weeks from Hyatt or resale, but with limitations.

Kal, what do you think will the limitations be for "resale" purchases from Hyatt? I understand that Hyatt may slowly phase out "weeks" sales and phase in "points" sales... But what about all the "weeks" that are already out there? I'm interested in Hyatt's options, other than exercising ROFR more aggressively...

 

[Pathways]

2000 points at Windward for $19900. I'm here at Bonita Springs. What do you think? What's the rescinsion period just in case?

19900 for 2000 points at WP is about 3X the going rate, depending on the week

 

[Kal]

Kal, what do you think will the limitations be for "resale" purchases from Hyatt? I understand that Hyatt may slowly phase out "weeks" sales and phase in "points" sales... But what about all the "weeks" that are already out there? I'm interested in Hyatt's options, other than exercising ROFR more aggressively...

For purchases of weeks from Hyatt, for those resorts that do not go to the points program, it will be business as always. If an owner contracted with Hyatt to sell their unit, or the unit is in Hyatt's inventory, the price will be the standard gouge. If the owner sells it themselves, it again will be business as always. See if Hyatt will take it on ROFR.

For ROFR, my guess is Hyatt will look hard at high point units at resorts where they don't hold much inventory.

 

[Kal]

2000 points at Windward for $19900. I'm here at Bonita Springs. What do you think? What's the rescinsion period just in case?

Hyatt will pitch $19K as a fantastic deal, as Hyatt's normal price is considerably higher. However, in the resale market the price should be somewhere around $7K. Don't forget, a 2000 point week for Florida is not really in heavy demand.