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

Sullco2

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This will be my last post on the topic.

Buying timeshare makes sense when it's a place you want badly to come back to, the price is right (in my case, $500 on resale for a week that sold for $20,000 retail), you can trust the management company, and there is no competition in the area.

For our family with small grandkids on Cape Cod, the short stay in the city of Boston is a great treat. Dividing the mfs by the number of nights yields a better deal than hotels and gets you a unique downtown spot.

Plus it gets II membership with Getaways that can add value. Why the Getaways are available at all, plus why the rental inventory is available just begins to uncover the flim flam in the industry's use of owners' inventory.

In addition to that inventory reference, here's more on the bashing part: Someone paid $20,000 for this Marriott product and sold it to me for $500. so much for "You own it and can resell it." And don't bother me with the "It's only Right to Use in Boston" argument. The lease has decades more to run.

Ask most long time MVCI owners how they feel about the new points system and they will tell you it's a Marriott scheme to force owners to spend money again.

The vast majority of timeshare companies, with Wyndham almost certainly at the top of the list, sell their products with absolutely no regard for the truth about how it works in reality. The points systems that prevail were created to instill phony value in off season weeks, of which most resort areas have many many.

The points system also exists to get people into an entry level ownership in the day of the tour, despite the fact that they won't be able to use the tiny package at all and will throw more money into it down the road to try to get some value from "ownership."

I find it impossible to believe that people on TUG are giving the industry a free pass because the industry makes money. Where is the outrage about the ethical nether world that the companies inhabit?

Hyatt is certainly trying to salvage their reputation by getting out of the trenches and being "just the management company." While I believe Hyatt is the best of all timeshare systems, that's faint praise and that doesn't mean it hasn't been sullied with the reputation of the industry at large.

The industry has spawned some of the most criminal businesses around--from their own captive Shylock financing arms to postcard companies to travel clubs to you name it--their trade groups have done nothing really to stop these spinoffs.

I am done now and won't be responding further. Thank you.
 

tahoeJoe

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So true....

Ask most long time MVCI owners how they feel about the new points system and they will tell you it's a Marriott scheme to force owners to spend money again.

As a Marriott owner I completely agree. The Marriott DC is/was a scam and most legacy owners I talk to don't like it.

The points systems that prevail were created to instill phony value in off season weeks, of which most resort areas have many many.

Yes, Yes Yes!!! :cheer: I don't know why more people don't recognize this. :shrug: All points (i.e. summer points vs mud-season points) are NOT created equal BUT they all carry the same price tag. At least in Marriott, not in Hyatt so much.

The points system also exists to get people into an entry level ownership in the day of the tour, despite the fact that they won't be able to use the tiny package at all and will throw more money into it down the road to try to get some value from "ownership."

So true, I have several friends who got suckered by this tactic.

I find it impossible to believe that people on TUG are giving the industry a free pass because the industry makes money. Where is the outrage about the ethical nether world that the companies inhabit?

This is the most perplexing issue of all you raised. I don't understand all the TUG lap dogs. When a company like Marriott or Wyndham pulls a fast one why not call them out?

All of the aforementioned being said, the Hyatt point system is tied to an actual deeded week on an actual unit. So lower point value weeks carry a much lower price tag, this is true in Hyatt and Hilton. The cost of points are NOT all the same in these systems.
 

Kal

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...the Hyatt point system is tied to an actual deeded week on an actual unit. So lower point value weeks carry a much lower price tag, this is true in Hyatt and Hilton. The cost of points are NOT all the same in these systems.

True, Hyatt has been a value on the deeded unit ownership, up until Maui. In Maui, a person "owns" a given size unit, but the unit is one of many grouped on about 4 floors of the building. Kinda like fruit salad. YOU get a salad, but you don't get an apple, or banana or a strawberry.

Maui also is unique in that ALL weeks are Diamond weeks just because it's Maui. But then every week is priced different which actually says not all weeks are the same. I suspect the owners win on that one. Some 2200 point weeks exceed $100K while other 2200 point weeks are about $70K. The cheap 2200 point purchase still trades the same as the high priced week.

However, getting back to the point, paying $100K for 7 days frames up the time share industry. Me thinks the industry is not quite yet in "death throes" as Maui will most certainly sell out within 3 years. Matter of fact, in early April Hyatt had $1 million in Maui sales in ONE DAY.

Hmmmm, what did P.T. Barnum have to say about this? :eek: :eek:

As footnote, if this is so good, why did Hyatt bail out?
 
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tahoeJoe

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As footnote, if this is so good, why did Hyatt bail out?

That is the $190 million question. My guess is, and this is PURE SPECULATION, Hyatt Corp was looking for quick cash to boost quarterly, or annual earnings. Often CEO compensation is tied to stock price or earnings and this sale could boost some high level executives bonuses. Plus, timeshare was never part of their core business plan.

Since Hyatt went public a few years ago I have noticed a huge shift in their corporate philosophy. Although it was never articulated, it appears Hyatt is much more profit driven than customer service driven. It is a shame because I used to like staying in Hyatt hotels. Not anymore, I almost never stay in them these days. Hyatt hotels loss is Marriott's and Starwood's gain.
 

vacationtime1

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As footnote, if this is so good, why did Hyatt bail out?


Hey, guys; this isn't about us. It isn't even about timeshares.

The Pritzker family is reorganizing its corporate operations. There has been a lot in the financial press about it over the last couple of months; here's one example (I have read other articles but this is what I just found in a quick Google search): http://www.chicagobusiness.com/article/20030304/NEWS01/20008096/pritzkers-restructure-hyatt-empire

It may or may not result in an IPO and it may or may not have to do with various family members wanting more liquidity to allow more financial separation from other family members. But Hyatt's timeshare operations are a very small part of the reorganization and certainly not its cause.
 

wilma

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Hey, guys; this isn't about us. It isn't even about timeshares.

The Pritzker family is reorganizing its corporate operations. There has been a lot in the financial press about it over the last couple of months; here's one example (I have read other articles but this is what I just found in a quick Google search): http://www.chicagobusiness.com/article/20030304/NEWS01/20008096/pritzkers-restructure-hyatt-empire

It may or may not result in an IPO and it may or may not have to do with various family members wanting more liquidity to allow more financial separation from other family members. But Hyatt's timeshare operations are a very small part of the reorganization and certainly not its cause.

Not sure I understand your comment and the link is to a very old (2003) article. Hyatt already went public in 2009.:confused:
 

vacationtime1

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tahoeJoe

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Will Interval ....

Now that Interval International (II) will soon be the new owner of Hyatt Res Club, I wonder if II will allow Hyatt owners to trade their CUP or LCUP points THROUGH II for stays at Hyatt properties?

If allowed, a Hyatt owner could trade 1300 points through II for a week in a 2-bedroom at Hyatt which would cost 1880, 2000 or even 2200 points through Hyatt's internal system.

Hilton Grand Vac Club allows this with RCI. Although the exchange fee is higher, an owner could save a lot of points. I hope II does the same.
 

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...If allowed, a Hyatt owner could trade 1300 points through II for a week in a 2-bedroom at Hyatt which would cost 1880, 2000 or even 2200 points through Hyatt's internal system...

I'm not sure whether to file this under "Free Lunch" or "Santa Claus".

Remember, the former HRC regime is still in place.
 

tahoeJoe

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I'm not sure whether to file this under "Free Lunch" or "Santa Claus".

Remember, the former HRC regime is still in place.

Yes, but this change would generate more revenue for II. Theoretically, if an owner does an internal Hyatt trade, II gets nothing, nada, zip. If an owner trades through II, regardless of where they trade to, then II makes at least $184 per transaction. Why would II care where an owner trades to as long as it is available.

As for the old regime, are they still calling the shots? I thought they were just collecting a licensing fee from Hyatt owner who already paid for that.
 

Kal

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Actually, there would be more availability if a HRC owner cannot trade back into the HRC. More HRC points are consumed as is thereby freeing up more units than if HRC owners traded back in using fewer points.

The previous HRC management structure is still in place. The only change is the parent. The only question would be cash flow. Will Interval be satisfied with the current profits from the HRC or will they want more. However, like any purchase of a new asset, Interval will probably want to place some of their people into the HRC Management structure. Most certainly they would not want to harm that cash cow with newbies.
 

tahoeJoe

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Actually, there would be more availability if a HRC owner cannot trade back into the HRC. More HRC points are consumed as is thereby freeing up more units than if HRC owners traded back in using fewer points.

Yeah maybe, tell this to the Hyatt suits who changes the point structure at Highlands Inn. I'm sure they were concerned about that. :annoyed:
 

scsu_hockey_fan

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Yes, but this change would generate more revenue for II. Theoretically, if an owner does an internal Hyatt trade, II gets nothing, nada, zip. If an owner trades through II, regardless of where they trade to, then II makes at least $184 per transaction. Why would II care where an owner trades to as long as it is available.

As for the old regime, are they still calling the shots? I thought they were just collecting a licensing fee from Hyatt owner who already paid for that.

I do not remember the exact numbers, but the interval membership fee is build into the Hyatt maintenance fee from what i was told. That means everyone pays the interval membership whether they use interval or not. Lets just say it was $100, and there are about 30,000 owners. That's a nice chuck of change. I can't see them changing anything.
 

scsu_hockey_fan

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Yes, but this change would generate more revenue for II. Theoretically, if an owner does an internal Hyatt trade, II gets nothing, nada, zip. If an owner trades through II, regardless of where they trade to, then II makes at least $184 per transaction. Why would II care where an owner trades to as long as it is available.

As for the old regime, are they still calling the shots? I thought they were just collecting a licensing fee from Hyatt owner who already paid for that.

For a hyatt internal trade under the ownership of interval, why would interval NOT get the $ reservation fee$ that is now in place???? They would be getting something....
 

ivywag

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It's official

Interval did a press release today announcing that the sale closed and that Hyatt will receive a fee from Interval for the use of the HRC name. It also said that we will maintain our Gold Passport privileges. I googled "Hyatt Interval Sale" looking for info and it showed up.
 

ivywag

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Here's the release

Interval Leisure Group Completes Acquisition of Hyatt Residential Group
By Business Wire, October 01, 2014, 04:05:00 PM EDT
Vote up AAA



MIAMI & CHICAGO--(BUSINESS WIRE)-- Interval Leisure Group ("ILG") (NASDAQ:IILG), a leading global provider of non-traditional lodging across a broad spectrum of the vacation industry, has completed the previously announced acquisition of Hyatt Residential Group from affiliates of Hyatt Hotels Corporation ("Hyatt") (NYSE:H), a leading global hospitality company. The purchase price of approximately $220 million includes Hyatt's interest in a joint venture that owns and is developing Hyatt Ka'anapali Beach, a 131-unit shared ownership property in Maui. In connection with the acquisition, a subsidiary of ILG has entered into a global Master License Agreement with respect to the exclusive use of the Hyatt brand in shared ownership.

Under the terms of the global Master License Agreement, Hyatt will receive annual license fees and the Hyatt Residence Club and 16 existing shared ownership resorts will retain the Hyatt Residence Club brand. The approximately 30,000 Hyatt Residence Club owners will continue to receive all privileges currently associated with their memberships, including Hyatt Gold Passport benefits.

About Interval Leisure Group

Interval Leisure Group (ILG) is a leading global provider of non-traditional lodging, encompassing a portfolio of travel, leisure, membership, exchange, resort management, and rental businesses. Interval InternationalandTrading Places International (TPI) offer exchange and travel-related products to more than 2 million member families worldwide. Under license from Hyatt, Hyatt Vacation Ownership markets and manages shared ownership properties and operates Hyatt Residence Club. Vacation Resorts International, VRI Europe, and TPI offer timeshare resort, homeowners' association, and club management services, while Aston Hotels & Resorts and Aqua Hospitality provide hotel and condominium rentals and resort management. Headquartered in Miami, Florida, ILG has offices in 16 countries and nearly 6,000 employees. For more information, visit www.iilg.com.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, license, own and develop hotels, resorts, branded residences and vacation ownership properties under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®,Hyatt House®,Hyatt Zilara™,Hyatt Ziva™, Hyatt Residences® and Hyatt Residence Club®brand names and have locations on six continents. As of June 30, 2014, the Company's worldwide portfolio consisted of 563 properties in 48 countries. For more information, please visit www.hyatt.com.



Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141001006619/en/

Source: Interval Leisure Group and Hyatt Hotels Corporation



This article appears in: News Headlines

Referenced Stocks: H, IILG




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Read more: http://www.nasdaq.com/press-release...esidential-group-20141001-01177#ixzz3F3f0GPvJ
 

tahoeJoe

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Interval Leisure Group Completes Acquisition of Hyatt Residential Group
By Business Wire, October 01, 2014, 04:05:00 PM EDT
Vote up AAA

Source: Interval Leisure Group and Hyatt Hotels Corporation

This article appears in: News Headlines


Hmm.......good news?!

It will be interesting to see when all those "new resorts" that II will bring into the Hyatt system will materialize.
 
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