# Hyatt Key West Resorts



## dagger1 (May 26, 2017)

This is an open question to Hyatt Residence Owners, particularly Key West owners.  We are considering buying a Platinum week at Sunset Harbor, but have looked at all three resorts there.  My question has to do with current pricing:  it seems to have declined over the last several years, and we are wondering why.  Weeks that were in the $10-$15K range now seem to be in the $7-12K range.  Is this just normal TS depreciation, is it due to escalating MF's, or is there something else going on here.  Thanks for any comments...


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## Panina (May 27, 2017)

I am not a Hyatt owner but have considered in the past purchasing at Sunset Harbor. If you are saying platinum weeks are between $7000-$12000 that is a significant drop.  When I was looking they were in the $20000 range.  

My reason at the time for not purchasing was the high maintenance fee and the high price, so that can be the reason. Galleon had higher prices then Sunset but a lower maintenance fee. Ultimately I purchased at Banyan, pricedmuch lower and maintenance fees close to half of Sunset Harbor.  Love it, gave up the water view, but among the banyan trees, beautifully updated,  feeling more tropical like true key west.


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## dagger1 (May 27, 2017)

Panina said:


> I am not a Hyatt owner but have considered in the past purchasing at Sunset Harbor. If you are saying platinum weeks are between $7000-$12000 that is a significant drop.  When I was looking they were in the $20000 range.
> 
> My reason at the time for not purchasing was the high maintenance fee and the high price, so that can be the reason. Galleon had higher prices then Sunset but a lower maintenance fee. Ultimately I purchased at Banyan, pricedmuch lower and maintenance fees close to half of Sunset Harbor.  Love it, gave up the water view, but among the banyan trees, beautifully updated,  feeling more tropical like true key west.


Thanks, that makes perfect sense.  I read on a prior thread that HSH owners were concerned  about MF's jumping from $1600/yr to $2200/yr, which would be significant...


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## sts1732 (May 27, 2017)

dagger1 said:


> This is an open question to Hyatt Residence Owners, particularly Key West owners.  We are considering buying a Platinum week at Sunset Harbor, but have looked at all three resorts there.  My question has to do with current pricing:  it seems to have declined over the last several years, and we are wondering why.  Weeks that were in the $10-$15K range now seem to be in the $7-12K range.  Is this just normal TS depreciation, is it due to escalating MF's, or is there something else going on here.  Thanks for any comments...


We recently sold ours at Sunset, wk. 27, recently upgraded from 1400 to 2000 points. It sold for 18K, with no ROFR. After  more than 20yrs. of ownership, it just got to between MF's and every thing it took at our age we started down sizing in our portfolio. With a good return that we were able to get, it made sense to us. We had offered 2 of our Hyatt properties, and Sun set was taken first.
IMO because everyone wants to be on the water, the location of the property, and at the time and still is a deeded week. As far as MF's going up they always have, no way to get around that. It's just a matter of do you want to spend, where do you want to be, and I feel that to getting a bigger bang for my buck in renting it, we did more than OK.


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## dagger1 (May 27, 2017)

sts1732 said:


> We recently sold ours at Sunset, wk. 27, recently upgraded from 1400 to 2000 points. It sold for 18K, with no ROFR. After  more than 20yrs. of ownership, it just got to between MF's and every thing it took at our age we started down sizing in our portfolio. With a good return that we were able to get, it made sense to us. We had offered 2 of our Hyatt properties, and Sun set was taken first.
> IMO because everyone wants to be on the water, the location of the property, and at the time and still is a deeded week. As far as MF's going up they always have, no way to get around that. It's just a matter of do you want to spend, where do you want to be, and I feel that to getting a bigger bang for my buck in renting it, we did more than OK.


Thanks for a great reply!!  We love Hyatt resorts, they seem to be so much nicer than most of our Wyndham resorts, and are really looking hard at a 2/2 HSR.  Prices have definitely come down, but that probably has to do with unit size and view as well.  We need a one level, because my wife is in a wheelchair.  I guess it really doesn't matter if the prices are low, if the owner wants out they will sell low and they don't care if the buyer gets it or Hyatt gets it...  Offering a price too low just means you probably won't get the unit, even if the seller accepts the price.
I think Kal mentioned somewhere the reasons why HSH's MF's were so much higher than HBH and HWP, but I couldn't find that post...


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## bdh (May 27, 2017)

dagger1 said:


> We are considering buying a Platinum week at Sunset Harbor, but have looked at all three resorts there.  My question has to do with current pricing:  it seems to have declined over the last several years, and we are wondering why.  Weeks that were in the $10-$15K range now seem to be in the $7-12K range.  Is this just normal TS depreciation, is it due to escalating MF's, or is there something else going on here.  Thanks for any comments...



As a generalization, the biggest reason prices receded was the 2008 recession - with the tumble in the general economy, TS became somewhat of a luxury.  So prices of all TS brands dropped back - the variance on the drop depended on the brand, property location and season.  The 2008 recession did affect the 3 KW Hyatt TS properties - 2010 to 2015/16 was probably the best time for buyers.

Fast forward to 2017 and KW Hyatt prices have recovered to some of their previous price levels - and some instances, all of the previous price levels (and a few have exceeded the previous). The recovery/gains of the economy and the general desirability of KW has provided support for increased purchase prices (when compared to 2010 to 2015/16 prices) at all KW Hyatts. The recent HRC KW point re-evaluation has also provided support for increased purchase prices (when compared to 2010 to 2015/16 prices) at all KW Hyatts. However, since the 3 Hyatt properties are not equivalent in amenities or location, the price recovery has not been equivalent.  The reality is that Beach House and Windward Pointe will always have larger/sexier units, lower MF's and a lower purchase price - Sunset Harbor will always have the best location, higher MF's and a higher purchase price.  

As a generalization, BH and WP have regained 75%+/- of their pre-2008 level and SH has regained 90%+/-.  No doubt the higher the week point value, the better it's price recovery has been. Note that there will always be singular purchase price outliers - ie: the WP diamond week that cleared ROFR a month ago at $6350 and the SH diamond week that sells for $20000+.  As always, the value of a TS varies based on how each individual person rationalizes a purchase.  Does a person prefer a lower MF and less desirable property location in New Town - or does a person prefer an Old Town location with a specific guaranteed unit/view that carries a higher MF and purchase price?



dagger1 said:


> I think Kal mentioned somewhere the reasons why HSH's MF's were so much higher than HBH and HWP, but I couldn't find that post...



SH is an older property than BH and WP requiring more infrastructure (HVAC units, major interior renovation, wood decks, etc - in lieu of soft goods like carpeting and bedding that every property experiences) upgrades and with SH being a smaller property, there are fewer SH owners to divide the total MF cost across.


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## dagger1 (May 27, 2017)

bdh said:


> As a generalization, the biggest reason prices receded was the 2008 recession - with the tumble in the general economy, TS became somewhat of a luxury.  So prices of all TS brands dropped back - the variance on the drop depended on the brand, property location and season.  The 2008 recession did affect the 3 KW Hyatt TS properties - 2010 to 2015/16 was probably the best time for buyers.
> 
> Fast forward to 2017 and KW Hyatt prices have recovered to some of their previous price levels - and some instances, all of the previous price levels (and a few have exceeded the previous). The recovery/gains of the economy and the general desirability of KW has provided support for increased purchase prices (when compared to 2010 to 2015/16 prices) at all KW Hyatts. The recent HRC KW point re-evaluation has also provided support for increased purchase prices (when compared to 2010 to 2015/16 prices) at all KW Hyatts. However, since the 3 Hyatt properties are not equivalent in amenities or location, the price recovery has not been equivalent.  The reality is that Beach House and Windward Pointe will always have larger/sexier units, lower MF's and a lower purchase price - Sunset Harbor will always have the best location, higher MF's and a higher purchase price.
> 
> ...


Excellent, thank you...  Just need to pull the trigger and make an offer.  We definitely want to do a week at HSH every year...!


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## bdh (May 27, 2017)

dagger1 said:


> Excellent, thank you...  Just need to pull the trigger and make an offer.  We definitely want to do a week at HSH every year...!



Just a FWIW:  there is a HC unit at HSH if needed.  Its in building 2 - might be 211, but not positive.


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## Cropman (May 27, 2017)

bdh said:


> Just a FWIW:  there is a HC unit at HSH if needed.  Its in building 2 - might be 211, but not positive.



You are correct, it is in building 2, but I'm pretty sure it's 214.


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## TBipp (May 27, 2017)

Good luck with your purchase.  We own at Beach House; however, we have traded into Sunset Harbor many times.


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## dagger1 (May 27, 2017)

bdh said:


> Just a FWIW:  there is a HC unit at HSH if needed.  Its in building 2 - might be 211, but not positive.


Thanks...  Unfortunately, that's not the one for sale...


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## sts1732 (May 27, 2017)

dagger1 said:


> Excellent, thank you...  Just need to pull the trigger and make an offer.  We definitely want to do a week at HSH every year...!


As a point to consider the first number in the unit number is the floor number, as there is 3 floors. Bldg. #5 where ours was, are the ones that front the gulf. Also a note they do have a elevator for access to upper floors with wide decks that surround the units for wheel chair access.


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## Kal (May 27, 2017)

dagger1 said:


> ...We need a one level, because my wife is in a wheelchair..


You definitely do not want a town house format.  Those have an interior stairway connecting the two levels.  Stay with a "lock-off" unit as those are on a single level.


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## WackyLucy (May 27, 2017)

dagger1 said:


> I think Kal mentioned somewhere the reasons why HSH's MF's were so much higher than HBH and HWP, but I couldn't find that post...



I seem to recall a Kal post in which he indicated that HSH was the first (and the oldest) property in the entire  HRC system!
If that is so, it would certainly be reasonable to assume that infrastructure challenges (and maintenance fees to match) might be expected there. 

Having seen all three Hyatt timeshare locations in Key West and having stayed at two out of the three, I personally think that HSH is the best --- by far, hands down, no contest --- property age notwithstanding.


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## dagger1 (May 27, 2017)

WackyLucy said:


> I seem to recall a Kal post in which he indicated that HSH was the first (and the oldest) property in the entire  HRC system!
> If that is so, it would certainly be reasonable to assume that infrastructure challenges (and maintenance fees to match) might be expected there.
> 
> Having seen all three Hyatt timeshare locations in Key West and having stayed at two out of the three, I personally think that HSH is the best --- by far, hands down, no contest --- property age notwithstanding.


Yes, thanks, I know we want HSH.  Another reason for the higher MF's might be that HSH has fewer units than HBH and HWP, meaning total expenses spread over a smaller ownership....


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## dagger1 (May 27, 2017)

Kal said:


> You definitely do not want a town house format.  Those have an interior stairway connecting the two levels.  Stay with a "lock-off" unit as those are on a single level.


Thanks, Kal, yes , we definitely want a one level unit..!


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## suzannesimon (May 27, 2017)

Bought HSH back in 2012 resale for $15,000 and was recently offered that from someone when it was advertised for rent.  That would seem that the market is at least stable.  I never expect appreciation.  I have seen softness in the rental market there though and more of them for rent.  Perhaps that is happening because of maintenance fees.  I have Marriott's, Vistana and Hyatt and HSH is in the lower end of what I'm paying.  I stayed a night at the Galleon last year with friends before moving to my HSH week.  The bar/restaurant on site was a nice convenience but the unit quality was not as good.  I'll stick with the hotel brands.


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## Sugarcubesea (Jun 30, 2017)

sts1732 said:


> We recently sold ours at Sunset, wk. 27, recently upgraded from 1400 to 2000 points. It sold for 18K, with no ROFR. After  more than 20yrs. of ownership, it just got to between MF's and every thing it took at our age we started down sizing in our portfolio. With a good return that we were able to get, it made sense to us. We had offered 2 of our Hyatt properties, and Sun set was taken first.
> IMO because everyone wants to be on the water, the location of the property, and at the time and still is a deeded week. As far as MF's going up they always have, no way to get around that. It's just a matter of do you want to spend, where do you want to be, and I feel that to getting a bigger bang for my buck in renting it, we did more than OK.


I've been looking to purchase a KW Hyatt, however due to a lackluster bonus, I'm going to table this dream till next year. Unless I find the deal of the century.  I loved our stay in KW and will be very happy to be back there year after year.  I'm loving this new forum


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## rickandcindy23 (Jun 30, 2017)

dagger1 said:


> Thanks, Kal, yes , we definitely want a one level unit..!



Did your purchase close?  I love Hyatt resorts, too.  We are considering several different ones and would love to stay in the Key West area January-April months.  I don't see many exchanges for that, and I do enter ongoing searches. 

I did just get one of my dream vacations, Hyatt Highlands, Carmel.  I am so excited to stay there after Thanksgiving.


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## dagger1 (Jun 30, 2017)

rickandcindy23 said:


> Did your purchase close?  I love Hyatt resorts, too.  We are considering several different ones and would love to stay in the Key West area January-April months.  I don't see many exchanges for that, and I do enter ongoing searches.
> 
> I did just get one of my dream vacations, Hyatt Highlands, Carmel.  I am so excited to stay there after Thanksgiving.


We have not made an offer on HSH yet, we just passed ROFR on a 3/3 HMSS in Breckenridge and are in escrow.  I have seen some interesting HSH sales on eBay though, a Week 27 went for less than $3K and a week 34 just went for $1299 (both plus closing...). I have no idea if these will pass ROFR, I doubt it.  There was one I was interested in, but couldn't get the price I want (in the $6K range.). I want to buy the week we will use every year, because who knows when/if Hyatt will change the point values again.  Buying the exact week solves that problem..


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## WalnutBaron (Jun 30, 2017)

rickandcindy23 said:


> Did your purchase close?  I love Hyatt resorts, too.  We are considering several different ones and would love to stay in the Key West area January-April months.  I don't see many exchanges for that, and I do enter ongoing searches.
> 
> I did just get one of my dream vacations, Hyatt Highlands, Carmel.  I am so excited to stay there after Thanksgiving.


Rick, be sure before you go to consult us on places to see, things to do, good restaurants, etc. I can tell this: my DW and I spent several days in Monterey recently for a work conference I attended. One afternoon during a break, we decided to drive the short distance to Highlands Inn and had lunch on the newly-completed deck that overlooks the spectacular inlet with the breakers crashing on the rocks below. It was a perfect day in one of the truly most beautiful settings on the California coast. You could do a lot worse than have several of your meals at Pacific's Edge Restaurant & Grill.


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## rickandcindy23 (Jun 30, 2017)

We will definitely try that restaurant, WalnutBaron.  

My brother-in-law used to live in Walnut Creek.  He was never a homeowner.  He had a lot of money during his prime, but he just wasted it.  He should have bought something to leave to his kids because he died fairly poor.

I assume that is where you live.  Beautiful area.  I love SF too. My sister-in-law was a flight attendant for United and retired after 33 years flying.  She had to move from the area.  She couldn't afford to live there in retirement.  So expensive.


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## WalnutBaron (Jun 30, 2017)

rickandcindy23 said:


> We will definitely try that restaurant, WalnutBaron.
> 
> My brother-in-law used to live in Walnut Creek.  He was never a homeowner.  He had a lot of money during his prime, but he just wasted it.  He should have bought something to leave to his kids because he died fairly poor.
> 
> I assume that is where you live.  Beautiful area.  I love SF too. My sister-in-law was a flight attendant for United and retired after 33 years flying.  She had to move from the area.  She couldn't afford to live there in retirement.  So expensive.


Yes, it is terrifically expensive in California. We're blessed by some of the most beautiful scenery in all the world right here in our own backyard--Napa Valley, Yosemite, Lake Tahoe, San Francisco, and the Monterey Peninsula, among many others. That's the good news. The bad news is that we have the highest income tax rates in the country, expensive housing costs, and a very high cost of living. But it is a luxury to be able to jump in the car and--within 2 hours or less--be able to see and experience places that people from the world over come to see.


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