alameda94501
TUG Member
- Joined
- Apr 14, 2016
- Messages
- 238
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- 153
This is part of a series of posts:
Click here for the Introduction Post
Click here for the HRC and HPC Inventory Post
Click here for the Request List, Wait List, and Reservations Post
Click here for the Annual Conversion Option Post
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If you have been to an HPC sales session as an HRC owner, they cordon off HRC owners (60 minute presentation) from new people who do not own in the HRC (90 minute presentation). So all the folks you are with are HRC owners themselves.
If you are a resale HRC owner, talk turns to "Hyattizing" your resale property. The sales staff know there's a grey market and that a possible line of attack for sales is getting you to feel "cleansed" by bringing your resale week back into developer status.
Originally from my second HPC meeting I had posted on TUG this document:
This document says that to Hyattize resale weeks depends on how many weeks an "unauthorized HRC resale" customer has, so if you had three Diamond weeks you would need to purchase around $30k in HPC points.
About six months ago there were reports in TUGbbs that has gone drastically down to just purchasing 660 points or ~$13k. I confirmed that a few months ago when I was in a sales session and purchased 660 points to "Hyattize" all weeks.
BUT... what does Hyattizing really mean? This is the contract boilerplate they use when you Hyattize, which you only get to see if you actually go ahead with the purchase:
-----------------------------------------------------------
Hyatt Residence Club Member Name: << YOUR NAME>> Resale Contract No. Purchased <<YOUR OLD CONTRACT>>Developer Inventory Purchasing: <<YOUR NEW HPC PURCHASE TODAY>>
1. Participation in the World of Hyatt Exchange Program (the "Program") is a benefit offered by the HPC Developer, LLC (the "Developer"). Developer may, but is not obligated to, offer to owners of Resale Intervals the right to participate in the Program, subject to the following conditions:
2. After closing of your Developer Purchase Contract No. <<YOUR NEW HPC CONTRACT TODAY>>, your resale week purchase for << YOUR OLD RESORT>>,<<YOUR OLD CONTRACT>>,<<YOUR OLD UNIT>>,<<YOUR OLD WEEK>> will be eligible to exchange the use of your Fixed Week or your Floating Club Points, if applicable, for the right to access the World of Hyatt Program, subject to terms and conditions of the Hyatt Residence Club Portfolio Member's access to the World of Hyatt Program, and the World of Hyatt Program Terms and Conditions.
3. Your participation in the World of Hyatt Program shall be pursuant to any rules, terms or conditions set forth by Hyatt Corporation ("Hyatt") for the World of Hyatt Program from time to time, and the Hyatt Residence Club Portfolio Rules and Regulations.
4. The continued availability of the Developer's Incidental Benefits is not necessary for a purchaser's use and enjoyment of their timeshare interest.
5. Hyatt may terminate or modify the World of Hyatt Program at any time, with or without advance notice. The World of Hyatt Program is subject to additions, modifications, and/or deletions, with or without notice, by Hyatt in its sole discretion. HVGG and the Developer reserve the right to change, limit, add, modify, or delete any of the rules, terms, conditions, benefits, or point award levels pertaining to the Club Members' participation in the World of Hyatt Program, with or without notice, in their sole discretion, at any time.
6. Use of, or participation in, the above-listed incidental benefits is completely voluntary and payment of any fee(s) or other cost(s) associated with the incidental benefits is required only upon such use or participation; provided, however, that if applicable, the value of any World of Hyatt Bonus Point that have vested prior to the end of your rescission period will be deducted as described above.
7. The Developer's Incidental Benefits listed above are not assignable or otherwise transferrable by a purchaser.
8. The Developer's Incidental Benefits described above may not be transferred and the sale, rental or other commercial use of any Hyatt Residence Club Portfolio Points or any other developer incidental benefit described above by you is prohibited. Therefore, the represented monetary value of the Developer's Incidental Benefits described above is $0.00.
In the event any developer's incidental benefits described in this statement becomes unavailable as a result of events beyond the control of the developer, the developer reserves the right to substitute a replacement developer incidental benefit of a type, quality, value, and term reasonably similar to the available developer incidental benefit.
The developer's incidental benefits described in this statement are offered to prospective purchasers of the vacation ownership plan. These benefits are available for your use for a period of two (2) years or less after the first date that the vacation ownership plan is available for your use. The availability of the developer's incidental benefits may or may not be renewed or extended. You should not purchase an interest in the vacation ownership plan in reliance upon the continued availability, or renewal or extension of these benefits.
PURCHASER(S)
<<YOUR SIGNATURE(s)>>
<<YOUR NAME(s)>>
____________
<<DATE(s)>>
-----------------------------------------------------------
My three take aways are that:
1. You need to spend at least $12,500 in that boilerplate (no matter what you negotiate with the sales staff) to get into World of Hyatt. It does seem however like they have broken down and allow multiple weeks under a single $12,500+ purchase.
2. These ONLY pertain to the (questionable) World of Hyatt conversion options. As described in this thread, the Annual Conversion Option in the contracts does not specify any minimum number of new HPC points, or a separate call-out contract like this one.
3. The final paragraph: "The developer's incidental benefits described in this statement are offered to prospective purchasers of the vacation ownership plan. These benefits are available for your use for a period of two (2) years or less after the first date that the vacation ownership plan is available for your use. The availability of the developer's incidental benefits may or may not be renewed or extended. You should not purchase an interest in the vacation ownership plan in reliance upon the continued availability, or renewal or extension of these benefits. "
Well... that's kinda their primary sales strategy right? Many are "Hyattizing" to cleanse their resale weeks for life, not for two years. That's ~$6,500 a year to use World of Hyatt conversion. And that doesn't even get to how awful a deal WOH conversion is!
Note that if you look at the World of Hyatt benefits for new owners, those benefits don't have a two year guarantee. This is just for resale owners.
Click here for the Introduction Post
Click here for the HRC and HPC Inventory Post
Click here for the Request List, Wait List, and Reservations Post
Click here for the Annual Conversion Option Post
-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
If you have been to an HPC sales session as an HRC owner, they cordon off HRC owners (60 minute presentation) from new people who do not own in the HRC (90 minute presentation). So all the folks you are with are HRC owners themselves.
If you are a resale HRC owner, talk turns to "Hyattizing" your resale property. The sales staff know there's a grey market and that a possible line of attack for sales is getting you to feel "cleansed" by bringing your resale week back into developer status.
Originally from my second HPC meeting I had posted on TUG this document:
This document says that to Hyattize resale weeks depends on how many weeks an "unauthorized HRC resale" customer has, so if you had three Diamond weeks you would need to purchase around $30k in HPC points.
About six months ago there were reports in TUGbbs that has gone drastically down to just purchasing 660 points or ~$13k. I confirmed that a few months ago when I was in a sales session and purchased 660 points to "Hyattize" all weeks.
BUT... what does Hyattizing really mean? This is the contract boilerplate they use when you Hyattize, which you only get to see if you actually go ahead with the purchase:
-----------------------------------------------------------
HYATT RESIDENCE CLUB PORTFOLIO
DEVELOPER'S INCIDENTAL BENEFIT UPGRADE ACKNOWLEDGEMENT
As a Hyatt Residence Club Portfolio Member, who has a contract for the purchase of a timeshare interest from HPC Developer, LLC, valued at <<YOUR HPC DOLLAR AMOUNT TODAY>> you are eligible for the Developer's Incidental Benefit Upgrade on your resale week purchase for << YOUR OLD RESORT>>,<<YOUR OLD CONTRACT>>,<<YOUR OLD UNIT>>,<<YOUR OLD WEEK>> DEVELOPER'S INCIDENTAL BENEFIT UPGRADE ACKNOWLEDGEMENT
Hyatt Residence Club Member Name: << YOUR NAME>> Resale Contract No. Purchased <<YOUR OLD CONTRACT>>Developer Inventory Purchasing: <<YOUR NEW HPC PURCHASE TODAY>>
1. Participation in the World of Hyatt Exchange Program (the "Program") is a benefit offered by the HPC Developer, LLC (the "Developer"). Developer may, but is not obligated to, offer to owners of Resale Intervals the right to participate in the Program, subject to the following conditions:
a. Owner of the Resale Interval must purchase an interest at a price of at least Twelve Thousand Five Hundred Dollars ($12,500.00).
b. The Developer will allow one Resale Interval to participate in the Program for every qualifying Developer Interest purchased subsequent to the purchase of the resale Interval.
c. The continued participation in the Program is subject to the owner remaining in good standing on their obligations related to the Developer Interest.
d. The Developer reserves the right, at their sole discretion, to terminate this program at any time; however Owners of Resale Intervals that have purchased a Developer Interest prior to the Program termination date will be allowed continued access to the Program subject to the above condition c.
e. This resale benefit will never allow an original resale purchase that has elected the developer's incidental benefit to be able to upgrade into a developer interest in the future.
b. The Developer will allow one Resale Interval to participate in the Program for every qualifying Developer Interest purchased subsequent to the purchase of the resale Interval.
c. The continued participation in the Program is subject to the owner remaining in good standing on their obligations related to the Developer Interest.
d. The Developer reserves the right, at their sole discretion, to terminate this program at any time; however Owners of Resale Intervals that have purchased a Developer Interest prior to the Program termination date will be allowed continued access to the Program subject to the above condition c.
e. This resale benefit will never allow an original resale purchase that has elected the developer's incidental benefit to be able to upgrade into a developer interest in the future.
2. After closing of your Developer Purchase Contract No. <<YOUR NEW HPC CONTRACT TODAY>>, your resale week purchase for << YOUR OLD RESORT>>,<<YOUR OLD CONTRACT>>,<<YOUR OLD UNIT>>,<<YOUR OLD WEEK>> will be eligible to exchange the use of your Fixed Week or your Floating Club Points, if applicable, for the right to access the World of Hyatt Program, subject to terms and conditions of the Hyatt Residence Club Portfolio Member's access to the World of Hyatt Program, and the World of Hyatt Program Terms and Conditions.
3. Your participation in the World of Hyatt Program shall be pursuant to any rules, terms or conditions set forth by Hyatt Corporation ("Hyatt") for the World of Hyatt Program from time to time, and the Hyatt Residence Club Portfolio Rules and Regulations.
4. The continued availability of the Developer's Incidental Benefits is not necessary for a purchaser's use and enjoyment of their timeshare interest.
5. Hyatt may terminate or modify the World of Hyatt Program at any time, with or without advance notice. The World of Hyatt Program is subject to additions, modifications, and/or deletions, with or without notice, by Hyatt in its sole discretion. HVGG and the Developer reserve the right to change, limit, add, modify, or delete any of the rules, terms, conditions, benefits, or point award levels pertaining to the Club Members' participation in the World of Hyatt Program, with or without notice, in their sole discretion, at any time.
6. Use of, or participation in, the above-listed incidental benefits is completely voluntary and payment of any fee(s) or other cost(s) associated with the incidental benefits is required only upon such use or participation; provided, however, that if applicable, the value of any World of Hyatt Bonus Point that have vested prior to the end of your rescission period will be deducted as described above.
7. The Developer's Incidental Benefits listed above are not assignable or otherwise transferrable by a purchaser.
8. The Developer's Incidental Benefits described above may not be transferred and the sale, rental or other commercial use of any Hyatt Residence Club Portfolio Points or any other developer incidental benefit described above by you is prohibited. Therefore, the represented monetary value of the Developer's Incidental Benefits described above is $0.00.
In the event any developer's incidental benefits described in this statement becomes unavailable as a result of events beyond the control of the developer, the developer reserves the right to substitute a replacement developer incidental benefit of a type, quality, value, and term reasonably similar to the available developer incidental benefit.
The developer's incidental benefits described in this statement are offered to prospective purchasers of the vacation ownership plan. These benefits are available for your use for a period of two (2) years or less after the first date that the vacation ownership plan is available for your use. The availability of the developer's incidental benefits may or may not be renewed or extended. You should not purchase an interest in the vacation ownership plan in reliance upon the continued availability, or renewal or extension of these benefits.
PURCHASER(S)
<<YOUR SIGNATURE(s)>>
<<YOUR NAME(s)>>
____________
<<DATE(s)>>
-----------------------------------------------------------
My three take aways are that:
1. You need to spend at least $12,500 in that boilerplate (no matter what you negotiate with the sales staff) to get into World of Hyatt. It does seem however like they have broken down and allow multiple weeks under a single $12,500+ purchase.
2. These ONLY pertain to the (questionable) World of Hyatt conversion options. As described in this thread, the Annual Conversion Option in the contracts does not specify any minimum number of new HPC points, or a separate call-out contract like this one.
3. The final paragraph: "The developer's incidental benefits described in this statement are offered to prospective purchasers of the vacation ownership plan. These benefits are available for your use for a period of two (2) years or less after the first date that the vacation ownership plan is available for your use. The availability of the developer's incidental benefits may or may not be renewed or extended. You should not purchase an interest in the vacation ownership plan in reliance upon the continued availability, or renewal or extension of these benefits. "
Well... that's kinda their primary sales strategy right? Many are "Hyattizing" to cleanse their resale weeks for life, not for two years. That's ~$6,500 a year to use World of Hyatt conversion. And that doesn't even get to how awful a deal WOH conversion is!
Note that if you look at the World of Hyatt benefits for new owners, those benefits don't have a two year guarantee. This is just for resale owners.
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