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HUGE News for Hyatt Owners.....(no hyperbole)

magicjourney

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Rumor has it that Interval will place a new person in charge of the HRC. His name is Charles (something) and he was the President and CEO of a small business transportation enterprise called "Chuck and a Truck". :whoopie: :ignore:

huh, pack well and ship safely. No wonder why II bring him in. That's guess where hyatt's next destination is.
 

tschwa2

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As a non-Hyatt owner who loves trading into Hyatts, what is your opinion on the impact of getting Hyatt trades when II takes over Hyatt? Will it likely be easier or harder to trade into a Hyatt, or will there likely be no impact?

My feeling is that it won't be easier or harder to exchange into Hyatt through II but excess inventory may be available as Getaways (and not necessarily cheap) instead of Hyatt.com.

Interval's parent company took over Trading Places (which is both a management company and an exchange company) and VRI which is also a management company that operates an exchange. VRI and Trading places used reciprocal inventory even before the acquisitions but I haven't really noticed an influx in inventory from either of those groups into II. They all seem to be operating fairly independently
 

Kal

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Looking ahead, the Hyatt brand has always provided resort developers with the assurance of a good marketing partner in funding and developing a new resort. If I was a developer I would be very comfortable in teaming with a strong player in the hospitality industry who had a proven track record. I'm not so sure Interval is viewed in the same light. They may be in the hospitality industry, but nothing like Hyatt Corp.

Thus the potential impact will be slow development of new resorts to add to the HRC list of current properties. But then again, Hyatt didn't set the industry on fire in new time share properties. They clearly moved to the very high end residences.

All in all, it was more that the HRC subsidiary didn't generate the profit level (and growth) that Hyatt enjoys with all its other subsidiaries.
 

lizap

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Given that HRC didn't generate the profit level that Hyatt wanted/needed, I still don't get what contribution HRC can make to II's mission and strategic plan. Seems that II is venturing into an area beyond its core business.. Only time will tell, but this could potentially be a very bad move on II's part, in which case, HRC could end up being sold again down the road. Wonder how the acquisition was financed?


QUOTE=Kal;1624626]Looking ahead, the Hyatt brand has always provided resort developers with the assurance of a good marketing partner in funding and developing a new resort. If I was a developer I would be very comfortable in teaming with a strong player in the hospitality industry who had a proven track record. I'm not so sure Interval is viewed in the same light. They may be in the hospitality industry, but nothing like Hyatt Corp.

Thus the potential impact will be slow development of new resorts to add to the HRC list of current properties. But then again, Hyatt didn't set the industry on fire in new time share properties. They clearly moved to the very high end residences.

All in all, it was more that the HRC subsidiary didn't generate the profit level (and growth) that Hyatt enjoys with all its other subsidiaries.[/QUOTE]
 
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Sullco2

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I'm surprised no one has commented that Hyatt is simply
running away from an industry that is in its death throes. I've been in and around the ts biz for 3 decades and have watched it strangle itself. From the bull____ points programs to its ignoring the resale tsunami the industry will go down in business school textbooks as one of the stupidest in history. I can almost hear the Pritzkers sighing in relief from here.
 
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lizap

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I believe I read that Marriott's TS business is doing quite well..


I'm surprised no one has commented that Hyatt is simply
running away from an industry that is in its death throes. I've been in and around the ts biz for 3 decades and have watched it strangle itself. From the bull____ points programs to its ignoring the resale tsunami the industry will go down in business school textbooks as one of the stupidest in history. I can almost hear the Pritzkers sighing in relief from here.
 

sjsharkie

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I'm surprised no one has commented that Hyatt is simply
running away from an industry that is in its death throes. I've been in and around the ts biz for 3 decades and have watched it strangle itself. From the bull____ points programs to its ignoring the resale tsunami the industry will go down in business school textbooks as one of the stupidest in history. I can almost hear the Pritzkers sighing in relief from here.

What planet are you on?

MVCI has tripled in value in less than 3 years since the spinoff. I don't like points programs, but Marriott and others seem to have done quite well. Like any sector with competition, some do well and some don't. Hyatt felt things weren't profitable enough to continue.

Predicting that the timeshare concept will die is one thing. Saying it is in its death throes is just ignoring reality.

-ryan
 

bdh

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I'm surprised no one has commented that Hyatt is simply running away from an industry that is in its death throes. I've been in and around the ts biz for 3 decades and have watched it strangle itself. From the bull____ points programs to its ignoring the resale tsunami the industry will go down in business school textbooks as one of the stupidest in history. I can almost hear the Pritzkers sighing in relief from here.

Don't mean to pile on, but....

Probably because the TS world/system isn't just ready to go extinct as you predict. There are definitely some TS entities/properties that will/should die on the vine, however there are some that are alive, well and profitable (even in a soft economy). While the points systems of today aren't viewed by the old time TS folks as desirable, the noise from the cash register doesn't sound like BS to Team Marriott.

No doubt they are cheering at Camp Pritzkers - but its not sighs of relief, its because they made a great sale of a development program/concept while retaining a revenue stream from the Hyatt name/HRC properties. Hyatt had very little ownership/money in the HRC properties - the mature properties are obviously owned by individual deeded owners and the new properties are funded more by developer money than Hyatt money. So ILG pays $190 mil for the HRG development program/concept, but gets just about no property (ILG paid an additional $35 mil for the Maui property) and ILG pays Hyatt a continual licensing fee to use the Hyatt name moving forward.
 

lizap

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Had a chance to look at some of Interval Leisure Group's financial information this morning. Interestingly ILG's recent financial data shows exchange/membership revenue declining but revenue from Aston/Aqua hotels and VRI in Europe increasing. I would imagine this accounted for a large part of the motivation to acquire HRC. It concerns me that ILG has a relatively high debt to equity ratio, and that is from data prior to the acquisition. It is certainly possible that HRC could be sold again down the road if ILG needs an infusion of capital. This (current acquisition) is probably a good move for the Hyatt Corp. as they receive capital, will receive yearly fees from managing the resorts, and allows them to more closely focus on their core hotel business. Remains to be seen if it was a good move for ILG or resort owners..
 
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gemsfw

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This will not increase availability at the Park City property. The owners own a complete full ownership of each unit. The resort is totally sold out. The owners have a management contract with Hyatt hotels were Hyatt will rent their properties out and give them a percentage of the revenue or they may put it in the timeshare system and get the timeshare points based on the week number (same as Colorado resorts). These owners can get way more money renting out their units as Hyatt hotel suites than getting timeshare points. These owners get huge money during ski season and during Sundance film festival. The owners did not even consider the timeshare points as a good option. Check the rates charged by Hyatt Park City and you will see why it is a no brainer why they choose the money? I looked at purchasing a two bedroom unit two years ago and talked to three owners and the onsite Hyatt manager during my research.
 

lizap

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Yet, there is availability at the Colorado resorts during off-peak times. How is Park City different?




This will not increase availability at the Park City property. The owners own a complete full ownership of each unit. The resort is totally sold out. The owners have a management contract with Hyatt hotels were Hyatt will rent their properties out and give them a percentage of the revenue or they may put it in the timeshare system and get the timeshare points based on the week number (same as Colorado resorts). These owners can get way more money renting out their units as Hyatt hotel suites than getting timeshare points. These owners get huge money during ski season and during Sundance film festival. The owners did not even consider the timeshare points as a good option. Check the rates charged by Hyatt Park City and you will see why it is a no brainer why they choose the money? I looked at purchasing a two bedroom unit two years ago and talked to three owners and the onsite Hyatt manager during my research.
 

pedro47

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How will this impact II members who would like to exchange into Hyatt ?
 

gemsfw

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The park city owners control their own individual property. Hyatt does not have option of putting extra inventory into the residence club system. The park city owners leave it in the rental pool and make way more money. During ski season they rent it out a two bedroom for $1300 a night. I would rather get the owners percentage of $7000 for a week then 2000 points. Even during the off season they get conventions which bring pretty good money as opposed to the low points offered by Hyatt. Plus Hyatt gives an incentive to the owners to keep in the hyatt hotel rental pool by increasing the payout percentage based on increased weeks put into rental pool. The colorado resorts are controlled by hyatt.
 

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Yet, there is availability at the Colorado resorts during off-peak times. How is Park City different?

We're mixing apples and oranges with Colorado HRC and Park City.

Colorado HRC properties are fractional (each owner has a deeded week & 10 floating days) and the owners/units are part of The Club by default - a week is in HRPP for the owner's use for 6 months - if the week is not used by the owner after 6 months, the week automatically rolls to CUP and is available for all Club member use/reservation. Since the vast majority of owners don't use their floating days, there's typically lots of inventory that rolls to CUP and becomes available to Club members.

PC is whole ownership and the owner may elect to deposit one of the 52 weeks they own into The Club so that the owner can then exchange into a different HRC property. So if a PC doesn't elect to deposit one of their weeks into The Club, there is no inventory for Club members to trade for. Typically PC owners don't use the Club for exchanges, so there is never any PC units available for Club members. FWIW The Blue in Miami is a similar whole ownership and that's why there isn't much availability there.

Note that the only inventory that Hyatt controls at any of the 16 HRC properties are units that have not been sold to individual owners. IE: Main Street in Breck is sold out - so there are no developer/Hyatt weeks that can enter the HRC exchange system as they don't own any weeks at that property.
 

lizap

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Is it possible for II to sell the unsold units (if there are any) at PC as fractionals, like the Col. Resorts? Seems like that might be something they might be interested in doing.


We're mixing apples and oranges with Colorado HRC and Park City.

Colorado HRC properties are fractional (each owner has a deeded week & 10 floating days) and the owners/units are part of The Club by default - a week is in HRPP for the owner's use for 6 months - if the week is not used by the owner after 6 months, the week automatically rolls to CUP and is available for all Club member use/reservation. Since the vast majority of owners don't use their floating days, there's typically lots of inventory that rolls to CUP and becomes available to Club members.

PC is whole ownership and the owner may elect to deposit one of the 52 weeks they own into The Club so that the owner can then exchange into a different HRC property. So if a PC doesn't elect to deposit one of their weeks into The Club, there is no inventory for Club members to trade for. Typically PC owners don't use the Club for exchanges, so there is never any PC units available for Club members. FWIW The Blue in Miami is a similar whole ownership and that's why there isn't much availability there.

Note that the only inventory that Hyatt controls at any of the 16 HRC properties are units that have not been sold to individual owners. IE: Main Street in Breck is sold out - so there are no developer/Hyatt weeks that can enter the HRC exchange system as they don't own any weeks at that property.
 
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SunandFun83

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Hyatt: Coconut Plantation, Hyatt Pinion Point
Future Development and Sales? What changes?

Hyatt has several properties that are actively selling and have room for development. Windward Point, Wild Oak, Highlands and Pinon Point have been offering the low price tours and sales pitch for several years. Hawaii is new. coconut Plantation has only built three buildings out of 14 planned.

How does this sale to II change the ability to build out and sell the existing properties?

I am hoping that Hyatt/II will invest and build out four to six more buildings at Coconut Plantation ( I own and rent several weeks). This will make the resort more sustainable with more activities, more units sharing management costs, even more people around the pool and golf course.

Any idea if the Hyatt brand will be expanded into some of the on-hold properties like New York?
 

lizap

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If it's done, II will do it, not Hyatt, as Hyatt will no longer have ownership interest. But from looking at how leveraged II is, any expansion appears to be quite a ways out.



Hyatt has several properties that are actively selling and have room for development. Windward Point, Wild Oak, Highlands and Pinon Point have been offering the low price tours and sales pitch for several years. Hawaii is new. coconut Plantation has only built three buildings out of 14 planned.

How does this sale to II change the ability to build out and sell the existing properties?

I am hoping that Hyatt/II will invest and build out four to six more buildings at Coconut Plantation ( I own and rent several weeks). This will make the resort more sustainable with more activities, more units sharing management costs, even more people around the pool and golf course.

Any idea if the Hyatt brand will be expanded into some of the on-hold properties like New York?
 
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bdh

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Is it possible for II to sell the unsold units (if there are any) at PC as fractionals, like the Col. Resorts? Seems like that might be something they might be interested in doing.

I think PC has been sold out as whole ownership - if there are a few left, I would not expect them to be sold as fractional.
 

bdh

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How does this sale to II change the ability to build out and sell the existing properties?

I am hoping that Hyatt/II will invest and build out four to six more buildings at Coconut Plantation ( I own and rent several weeks). This will make the resort more sustainable with more activities, more units sharing management costs, even more people around the pool and golf course.

Any idea if the Hyatt brand will be expanded into some of the on-hold properties like New York?

I doubt it would change the on going sales efforts of existing units at the various properties. If one believes the inference in the ILG/HRG press release, ILG will develop additional Hyatt properties - expect that could mean the additional planned units at CP and WO as well as un-named new properties supposedly sitting on the shelf. I haven't seen any mention of the NYC Andaz property in the ILG/HRG transaction - so I would not expect it to be an ILG property.
 

lizap

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Would be interesting to hear from someone that owns at one of these resorts to get their perspective..perhaps there are stipulations that prohibit fractionals from being sold from unsold inventory. I believe this would apply to SK as well..

I think PC has been sold out as whole ownership - if there are a few left, I would not expect them to be sold as fractional.
 
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Sullco2

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All right--based on its value proposition to consumers, which is the only measure by which I am evaluating the timeshare industry, it should be in its death throes.

If most of you are waving the flag of how well the companies and/or shareholders are doing, then the Kool Aid has successfully flowed.

I suppose one could look back in history and cite GM's profitably when it was putting the Corvair on America's highways and burning people to a crisp with its terribly unsafe design.

If the bottom line is your only criterion, then robber barons should all be enshrined in the business school hallways. Are they?

I loved the timeshare concept when it began and entered the industry wholeheartedly. It has since deteriorated into a shameful flim flam and the early promise of letting the little guy live high (affordably and confidently) for a week or so on vacation has disappeared.

One has only to scan the comments throughout tug's many pages to see what educated consumers really think of the shenanigans the industry continues to foist on the public.

Of course I gather that it's all in how you measure "success."
 

bdh

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All right--based on its value proposition to consumers, which is the only measure by which I am evaluating the timeshare industry, it should be in its death throes.

And yet, somehow the industry continues - no doubt the industry is wrong and you are correct.

If most of you are waving the flag of how well the companies and/or shareholders are doing, then the Kool Aid has successfully flowed.

I suppose one could look back in history and cite GM's profitably when it was putting the Corvair on America's highways and burning people to a crisp with its terribly unsafe design.

If the bottom line is your only criterion, then robber barons should all be enshrined in the business school hallways. Are they?

I loved the timeshare concept when it began and entered the industry wholeheartedly. It has since deteriorated into a shameful flim flam and the early promise of letting the little guy live high (affordably and confidently) for a week or so on vacation has disappeared.

One has only to scan the comments throughout tug's many pages to see what educated consumers really think of the shenanigans the industry continues to foist on the public.

Of course I gather that it's all in how you measure "success."

Not sure the mixed bag of metaphors is germane to the ILG/HRG sales topic. It's unfortunate that you're unhappy with your ownership, however TUG includes pages of owners that enjoy the TS product they own and use.

Wish you well - take care.
 

Sullco2

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Aha, I am not remotely unhappy with buying a prime time Boston week for $500. For all the right reasons--ability to break up the week in particular. But the Boston hotel prices make it work despite mfs. Extraordinarily rare circumstance.

I am still waiting for the average owner's perspective of the "success" of the industry from their perspective.
 
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magicjourney

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Aha, I am not remotely unhappy with buying a prime time Boston week for $500. For all the right reasons--ability to break up the week in particular. But the Boston hotel prices make it work despite mfs. Extraordinarily rare circumstance.

I am still waiting for the average owner's perspective of the "success" of the industry from their perspective.

Sorry, I don't get your rationale for bashing timeshare system, and I don't understand your example either. If you think it make sense to buy Marriott Custom House, most Hyatt properties are just superior, less MFs, higher price tag for cash reservation, and can be broken up to 2, 3, 4 days booking.
 
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