# Just had an owner update…



## Mongoose (Nov 23, 2022)

At Sedona, went for a owner update. Best offer was $15k to add 660 and bring my two resale weeks in.  The MFs were $1.3 vs my current $.81.  I passed.  They did say that the Welk locations will become part of HRC portfolio program after refurbishment and the HVC name is temporary.


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## pedro47 (Nov 25, 2022)

Mongoose said:


> At Sedona, went for a owner update. Best offer was $15k to add 660 and bring my two resale weeks in.  The MFs were $1.3 vs my current $.81.  I passed.  They did say that the Welk locations will become part of HRC portfolio program after refurbishment and the HVC name is temporary.


Was the owner update a high pressure presentation or a low pressure presentation? IMO ?


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## ScoopKona (Nov 25, 2022)

pedro47 said:


> Was the owner update a high pressure presentation or a low pressure presentation? IMO ?



It's a waste of time either way. Even if the "update" goes exactly 90 minutes, that's still 90 minutes not spent enjoying the hard-won vacation time. 90 minutes is an eternity on a one-week vacation. That's two wine tastings. Or a nice meal. Or a quick hike. Or a passeggiare through town. 

Time is the only commodity we really have. I'm not going to spend any listening to a salesman tell me about "exciting opportunities."


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## mjm1 (Nov 25, 2022)

We attended a presentation at Pinon Pointe a couple weeks ago and had a good conversation. We received a similar offer and chose to decline it too. Not much pressure, but they did push for a sale.


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## regatta333 (Dec 2, 2022)

We attended a presentation at Coconut Plantation on Tuesday and were offered 660 points for $15.4 K or 1,000 points for $22.8 K.  I asked about bringing in resale weeks (although we don't have any at the moment) and was told that this is not being done.  Big selling point they were pushing was lower maintenance ($980) on the 1,000 points than what you would pay for owning a deeded week.  Dubious selling point in my mind since what is in the pool can only be an average of all the weeks that are there, unless they are somehow being subsidized.

I asked about whether they would be integrated into the Abound program and was told no, but they had a "Concierge" service whereby you could call in and request a Marriott resort booking and it could be done, if available.  He said Hyatt points required for a peak season 2BD at Marriott is 1,300.  I was not comfortable with the fact that there was no published grid for this type of transaction.  He pointed out that the cost of purchasing those 1,300 Hyatt portfolio points today is $29 K, while purchasing 3,950 Marriott destination points (the equivalent needed for that reservation) is $64K.

We passed on the deal, but did pay $1k for an Explorer Deal to come back in 12-18 months for a 4-night stay and do another update.  At that time, if we buy, it will be at Tuesday's pricing and what we already spent will be credited to our purchase price.  If we don't buy, we will get 48,000 World of Hyatt points.

This will give us some time to evaluate whether or not this is worthwhile for us.  Thoughts from other Hyatt owners?  From reading one of the above posts, it's apparently not true that resale weeks cannot be brought into the portfolio.


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## socaltimeshare (Dec 2, 2022)

regatta333 said:


> He said Hyatt points required for a peak season 2BD at Marriott is 1,300. I was not comfortable with the fact that there was no published grid for this type of transaction.


This is correct because Marriott is just an Interval Exchange, which is 1,300 for a high TDI 2 bedroom.  You don’t get any special access to Marriott being Portfolio vs. legacy.  By “concierge” service, I think this means they will just help you complete the transaction (if there is availability).



regatta333 said:


> He pointed out that the cost of purchasing those 1,300 Hyatt portfolio points today is $29 K, while purchasing 3,950 Marriott destination points (the equivalent needed for that reservation) is $64K.



From what I understand you can buy Marriott points resale then pay a fee to make them legit.  Much less than 64K for 3,950.  If regular access to Marriott is your goal, better to own Marriott.  But I looked into that option and found it is generally more cost effective to rent (at least for the properties I’m interested in).


regatta333 said:


> Thoughts from other Hyatt owners?


Everyone here pretty much agrees Legacy deeded week is the way to go.  Start there.


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## mjm1 (Dec 2, 2022)

regatta333 said:


> We attended a presentation at Coconut Plantation on Tuesday and were offered 660 points for $15.4 K or 1,000 points for $22.8 K.  I asked about bringing in resale weeks (although we don't have any at the moment) and was told that this is not being done.  Big selling point they were pushing was lower maintenance ($980) on the 1,000 points than what you would pay for owning a deeded week.  Dubious selling point in my mind since what is in the pool can only be an average of all the weeks that are there, unless they are somehow being subsidized.
> 
> I asked about whether they would be integrated into the Abound program and was told no, but they had a "Concierge" service whereby you could call in and request a Marriott resort booking and it could be done, if available.  He said Hyatt points required for a peak season 2BD at Marriott is 1,300.  I was not comfortable with the fact that there was no published grid for this type of transaction.  He pointed out that the cost of purchasing those 1,300 Hyatt portfolio points today is $29 K, while purchasing 3,950 Marriott destination points (the equivalent needed for that reservation) is $64K.
> 
> ...


Interesting that the sales rep said you could trade into a Marriott 2BR for 1,300 points. That is the amount of points required to trade into a peak season 2BR unit at any non-Hyatt resort via II. I am not aware of any concierge service that would enable a Hyatt owner to trade directly into a Marriott resort without going through II. That may be what they were referring to without being totally honest about the process.

Best regards.

Mike


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## Kal (Dec 2, 2022)

The one thing they didn't tell you was the HRC "legacy" program will die because all the owners will join Portfolio.  They also say that you have to stay in the HRC unit you own.  Both of these are outrageous lies.  Some observations:
- It's not an "owner update", but rather a SALES UPDATE.  Did they tell you anything resort specifi such as mods and furnishings???
- the purchase price per point has increased from $20 to $22.80
- the M/F offered is $0.98/point which is down from $1.00/point (note this is subsidized by Marriott to keep it at this level)
- A high quality deeded 2200 point week has a M/F of about $1600 to $1800
- The M/F for most HRC weeks is about $0.68/ point value
- Portfolio points are forever; there is no resale and you pay M/F for a lifetime
- Ownership of a HRC unit is deeded property where you can sell it as you desire

Enjoy the freebies but DO NOT purchase Portfolio Points for any reason.


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## skimeup (Dec 3, 2022)

Kal said:


> The one thing they didn't tell you was the HRC "legacy" program will die because all the owners will join Portfolio.  They also say that you have to stay in the HRC unit you own.  Both of these are outrageous lies.  Some observations:
> - It's not an "owner update", but rather a SALES UPDATE.  Did they tell you anything resort specifi such as mods and furnishings???
> - the purchase price per point has increased from $20 to $22.80
> - the M/F offered is $0.98/point which is down from $1.00/point (note this is subsidized by Marriott to keep it at this level)
> ...


If I'm reading this right, you cannot resell your Portfolio Points?  I bought a week resale rather than points, but I've seen Portfolio Points advertised on ebay.  Not obvious scams.  Can points be transferred?


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## Kal (Dec 3, 2022)

skimeup said:


> If I'm reading this right, you cannot resell your Portfolio Points?  I bought a week resale rather than points, but I've seen Portfolio Points advertised on ebay.  Not obvious scams.  Can points be transferred?


The sale of Portfolio points is subject to significant Hyatt restrictions in usage.  Hyatt also requires ROFR.  Permanent transfer of points would be a sale.


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## regatta333 (Dec 3, 2022)

Kal and all, thanks for the advice.  The other thing the sales person was really playing up was the ability to rent out your reservations to offset maintenance costs.  When I questioned the "commercial use" aspect on a "club" reservation, he claimed this was not a restriction.  I was not sure I believed that given the restrictions Wyndham and Marriott place on such reservations.


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## Kal (Dec 3, 2022)

regatta333 said:


> Kal and all, thanks for the advice.  The other thing the sales person was really playing up was the ability to rent out your reservations to offset maintenance costs.  When I questioned the "commercial use" aspect on a "club" reservation, he claimed this was not a restriction.  I was not sure I believed that given the restrictions Wyndham and Marriott place on such reservations.


Again, he was trolling you.  The club rules clearly prohibit "renting" and definitely for commercial purposes.  Of course it's done all the time as the first line of action is the front desk at check-in.  Those folks will not take any action and in extreme cases just refer the matter to Corporate.  There is one person in who is running a commercial renting operation and has been reported to Corporate.  They do nothing.

Sometimes when the unit is rented to someone online, when they check-in that want room service and daily sheets/towel changes.  That should be a clear tip-off but again, "I don't want to get involved" is the responsel


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## ScoopKona (Dec 3, 2022)

When I worked for Hyatt, we were specifically told to never pitch rentals.

And I'm against it in general. The only reason to rent is if life throws someone a curve and he or she can't use their timeshare. And these curveballs usually don't come with enough notice.

Any timeshare pitched as an investment vehicle is almost certainly the wrong timeshare.


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## socaltimeshare (Dec 3, 2022)

Kal said:


> Again, he was trolling you. The club rules clearly prohibit "renting" and definitely for commercial purposes.



Not necessarily true- you can rent a HPC reservation as long as it is not for "commercial use".  See the "HPC Trust - Reservation Rules and Regulations" page 24.  I took a screenshot of the relevant section.  It can be found here:  https://www.facebook.com/groups/48131613756/permalink/10159149788813757/

It is true that if you do a CUP exchange / have a CUP reservation, whether using points that originated from either the HRC (deeded) or HPC (portfolio) program, you are then prohibited from renting.  Same with external exchange through II.


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## Kal (Dec 3, 2022)

socaltimeshare said:


> Not necessarily true- you can rent a HPC reservation as long as it is not for "commercial use".  See the "HPC Trust - Reservation Rules and Regulations" page 24.  I took a screenshot of the relevant section.  It can be found here:  https://www.facebook.com/groups/48131613756/permalink/10159149788813757/
> 
> It is true that if you do a CUP exchange / have a CUP reservation, whether using points that originated from either the HRC (deeded) or HPC (portfolio) program, you are then prohibited from renting.  Same with external exchange through II.


I got ahead of myself.  If you own the HRPP unit, you can definitely rent it.  If you reserve a unit with CUP points, you can't rent it out.


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## funvac (Dec 14, 2022)

3 and a half hour resale presentation at Hyatt Sedona.  They offerred to take my 1100 pts for 800 protfolio pts. for only $13,000.
I passed.


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## funvac (Dec 14, 2022)

They would have bought back my timeshare and I'd only had HPP annual MF.


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## Mongoose (Dec 14, 2022)

funvac said:


> They would have bought back my timeshare and I'd only had HPP annual MF.


Good choice on not selling.  The MF's are nearly double with HPP compared to Sedona.


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## funvac (Dec 18, 2022)

Yes, giving them $13,000 for taking my timeshare.
I almost did it though.


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## GTLINZ (Dec 19, 2022)

funvac said:


> Yes, giving them $13,000 for taking my timeshare.
> I almost did it though.



That would have been ridding yourself of one problem by taking on another problem ....


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