# Sale of 3 Hyatt timeshare properties in Key West completed...



## theo (Jan 4, 2015)

We do not own within the Hyatt system, nor do we plan to, but we have rented in the past (and hopefully again in the future) an occasional week in Key West from a Hyatt owner. For that reason, I found the following news item to be of significant interest.

For proper attribution, the following is actually quoted verbatim from page 29 of the Jaunaury / February 2015 issue of Timesharing Today. The article is 3 paragraphs long; I quote only the first two paragraphs; the third is just some name dropping / internal back slapping PR fluff (...IMO):

"*KEY  WEST, FL, --- Affiliates of Hyatt Hotels Corporation completed the sale of Hyatt Residential Group (HRG) to Interval Leisure Group, a global provider of non-traditional vacation-industry lodging, on Oct. 7, 2014.

The HRG portfolio includes three shared-ownership projects in Key West --- Hyatt Sunset Harbor, Hyatt Beach House and Hyatt Windward Pointe. As part of this transaction, Robert Spottswood, the developer of and longtime partner in the Key West projects, sold his partnership interests to HRG.*"

I know that Interval Leisure Group (ILG) is the same entity that bought out Vacation Resorts International (VRI) a few years ago now (...and that already owned II).  
What I *don't *know, and accordingly now ask of better informed (and financially invested) Hyatt system owners, is what this above transaction might actually mean (if anything at all) to Hyatt owners in specific regard to still having access to timeshare weeks at the three Key West properties involved in this transaction, since it would appear that in some sense, they are no longer Hyatt properties *at all*. Maybe it's just corporate / stock musical chairs with no particular impact on Hyatt timeshare owners in Key West (or elsewhere) --- I certainly don't profess to know. I pose this as a  question for those in the know, not as any sort of "news flash".


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## tschwa2 (Jan 4, 2015)

It's kind of old news.  HUGE News for Hyatt Owners May 2014 

And from the Interval Leisure Press release in May: http://www.iilg.com/phoenix.zhtml?c=223490&p=irol-newsArticle&ID=1928370


> *Interval Leisure Group to Acquire Hyatt Residential Group; Announces Exclusive Master License Agreement in Vacation Ownership
> Acquisition includes Portfolio of Sixteen Hyatt Residence Club-Branded Vacation Ownership Properties*
> 
> MIAMI & CHICAGO--(BUSINESS WIRE)--May 7, 2014-- Interval Leisure Group (“ILG”) (NASDAQ:IILG), a leading global provider of membership and leisure services to the vacation industry, and Hyatt Hotels Corporation (“Hyatt”) (NYSE:H), a leading global hospitality company, today announced their affiliates have signed a definitive agreement for ILG to purchase Hyatt Residential Group for approximately $190 million. In addition, ILG will acquire Hyatt’s interest in a joint venture that owns and is developing a 131-unit vacation ownership property in Maui, and will reimburse Hyatt an additional approximately $35 million, representing Hyatt’s contributions to the joint venture through the transaction’s anticipated closing date. In connection with the agreement, Hyatt has selected ILG as Hyatt’s exclusive licensee in vacation ownership.
> ...


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## theo (Jan 4, 2015)

tschwa2 said:


> It's kind of old news.



Certainly "old news" to many, I'm sure. Not being a Hyatt owner and frankly having little interest in Hyatt (other than the aforementioned occasional Key West rental), the information became known to *me* only yesterday, when I received the magazine and  read the article which I quoted above in pertinent part.  

There is usually so little content of real interest or substance (...IMnsHO anyhow) within _*Timesharing Today*_ that I thought the article cited might be worthy of note (and some follow up questioning) for those who, like me, do not otherwise pay much (if any) attention to Hyatt matters. Not sure why the article specifically isolated and named only those particular 3 Key West properties, since at least a dozen other Hyatt timeshare properties are equally affected and included in the HRG transaction.


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## Pathways (Jan 4, 2015)

Definitely old news. The entire timeshare group was sold, not just Key West.

None of the timeshares are a part of 'Hyatt Hotels Corp' moving forward. However, the Hyatt name and affiliation (such as with Hyatt Gold Passport) was 'permanently' licensed and sold with the timeshares. I have one of the new purchase contracts being used since the sale was completed which spells out the new relationships.

Changes? Yes. 

All Hyatt Residential Club owners are now II Gold at no increase in cost. 

No chance of Hyatt flipping to RCI, since they are now owned by the corp. which owns Interval.

New resorts may now be developed and/or added to the Hyatt system. (The old Hyatt had stopped all expansion and actually sold some units). 

Higher maintenance fees due to insurance. The insurance rep was at the annual meetings and explained the increase in insurance cost was 90% from the decoupling of the two entities. In other words, the new timeshare group lost a huge amount of of purchasing power since they could no longer be grouped with the hotels.  This added around $80.00 give or take to each weeks's fees. 

Good or bad? Only time will tell...I'm betting on good

Pathways


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## bdh (Jan 4, 2015)

Agree with Pathways and tschwa2, it is old news and it has not provided any significant changes for HRC owners to date.



theo said:


> Not sure why the article specifically isolated and named only those particular 3 Key West properties, since at least a dozen other Hyatt timeshare properties are equally affected and included in the HRG transaction.



Only the writer of the Timesharing Today article would know why - could be the writer found it unique that a single person (Robert Spottswood) was a component of the corporate deal between ILG and HRG.  However with Spottswood being the development partner of each Hyatt property in KW and HBH & HWP being RTU properties, its not surprising that Spottswood would be a component the HRG/ILG deal.


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