Mistake? Just purchased the points program

[PerryKing]

These are 'Hyatt developer' prices. Since Hyatt does not have a full time sales office there, Mitzi is their 'sales' person. Purchase from her and you will get all the developer rights. Try to sell through her, and you will be dictated a minimum listing price.

By the marketing brochures and efforts at the resort, owners think they can recoup their 'investment' and it helps keep other resales prices inflated. You will see very little movement with those listings.

The Hyatt Main Street Station / Breckenridge Property was sold OUT several years ago. Mitze is an independent real-estate broker. With a Colorado real - estate Brokers license. She does not "work for the developer". She did once work for the developer's sales company during the original sales period of the property. So she really knows the property, the market and the Hyatt points system. After the property was sold out, she started her own company, specializing in the Hyatt Breckenridge resale market, but with the designation by Hyatt as an "Authorized Reseller". (Just like Carmen is at the Hacienda Del Mar in Puerto Rico) so when you buy through her the buyer can generally receive the Hyatt Hotel Gold Passport Points exchange privileges. see: www.breckenridgemsr.com

She also represents the Hyatt MSS Owners Association with their resale listings for foreclosures, along with listing for sale from current club owners

So all prices are negotiable I have found. FYI There is a Summer Float 10 Day Summer Studio available for $4,500 (480 points) or at least is was as of 4th of July week, when I was last staying there.


FYI: Also the asking prices are steady because the property, the town and the huge ski area support the prices. I would not say they are high, just at market rates. Which does not make me feel so good considering that I paid over $100,000 for my 3 bedroom week 10 Ski week in 2002 and I received a $20,000 discount from the release price of $120,000 at that time because I was already an owner at the Hyatt Mountain Lodge - Beaver Creek.

i.e. Time Shares are not investment property. I know that better than anyone now since today I would be lucky to sell mine for even $40,000. (and then less all selling cost). Hyatt Beaver Creek intervals have held their value better , but they are still selling for much less than the original developer prices.

However the prices for rental weeks at Beaver Creek are almost twice as much as what an owner can get currently for the same week and unit size at Hyatt MSS / Breckenridge. AND the units at Breckenridge cost the same originally as those at Beaver Creek. So it's all in the Location, the "Name", and Luxury reputation of Beaver Creek! Which is well deserved actually ! With rental rates during Christmas week for a 3 bedroom of over $1200 per night and not much less during other peak time ski weeks.

I have rented my HMSS Breckenridge, 3 bedroom penthouse unit - Week 10 March Peak Ski week (2 bedroom with kitchen and studio lock off with full kitchen) ( if I can rent it at all - depending on the snow conditions ) for the 7 day ski week rental amount of between $3600 and $5600. (Its listed on the TUG Rental pages if your interested. Take a look)

Maintenance fees ( for a 7 day fixed ski week and 10 floating summer days ownership) are currently around $4200 for three bedroom at Hyatt MSS Breckenridge, $6000 for a three bedroom at Hyatt ML Beaver Creek, near $8000 for the Park Hyatt Beaver Creek Residence Club and over $8000 at the Hyatt Grand Aspen Residence club)

 

[bdh]

For clarity on the topic, please refer to the top of the Hyatt Residence Club page for the Sticky on Hyatt MF. While the Sticky says "2017 MF", it actual includes several years of MF's. Look in Walnutbaron's post for the PDF of annual MF's at various HRC properties. The MF PDF is set up to show the breakdown of the components in the annual MF.

 

[PerryKing]

The 1 bedroom at
The 1 bedroom at
kaanapali has lower MFs than 2 bedrooms
We have been looking resale . I think Sapper is correct

YES! Size Matters but Season doesn't at all Hyatt Residence clubs - as far as I know.

 

[echino]

At Pinon Pointe, I own a 2br, and I saw several 1br units on eBay where MFs were listed the same or very close to what I pay for my 2br.

 

[bgsanderson]

Thank you so much for the replies! I’m happy we didn’t lose out on the $. I thought the new program sounded like a great deal.
I appreciate your quick responses! Thanks so much for saving us from a big mistake!

Beware if you buy aftermarket because Hyatt residence club will not let you exchange for hotel points. I have a unit that we bought from Hyatt back in 2000 that we can exchange for hotel points, but the second week we bought on the aftermarket cannot be exchanged for hotel points. Now our two weeks at the beach house in Key West our deeded titles, they are now doing a point system like Marriott & Disney, so maybe things are different!

 

[Sapper]

Beware if you buy aftermarket because Hyatt residence club will not let you exchange for hotel points. I have a unit that we bought from Hyatt back in 2000 that we can exchange for hotel points, but the second week we bought on the aftermarket cannot be exchanged for hotel points. Now our two weeks at the beach house in Key West our deeded titles, they are now doing a point system like Marriott & Disney, so maybe things are different!

True, resale cannot exchange for Hyatt hotel points (World of Hyatt, or what ever they may call them in the future). However, the exchange rate is so poor, most do not find value in doing it anymore.

The Hyatt Points Program has been a disaster. Hold on to those deeded units, they will have more value than the points program in the future.

 

[brody24]

Luckily, Hyatt has given me no problems with cancelling my Points Program contract (nor should they since I cancelled within the 10-day period mandated by Florida law). The contract makes clear where to send your notice, and I followed up with them to confirm that I will receive refund in full of my initial deposit.

 

[PerryKing]

At Pinon Pointe, I own a 2br, and I saw several 1br units on eBay where MFs were listed the same or very close to what I pay for my 2br.

Probably was just a mistake by a reseller or broker who does not know the difference.

To learn what the correct various MF's are, since your an owner at Pinon Point, look at your annual budget report sent to you each year by the Home Owners Association where it should show the annual budget for the property, and then how that budgeted cost is allocated to the various types of units as their share of the mf fee for upcoming year.

 

[PerryKing]

Beware if you buy aftermarket because Hyatt residence club will not let you exchange for hotel points. I have a unit that we bought from Hyatt back in 2000 that we can exchange for hotel points, but the second week we bought on the aftermarket cannot be exchanged for hotel points. Now our two weeks at the beach house in Key West our deeded titles, they are now doing a point system like Marriott & Disney, so maybe things are different!

The new "Portfolio Points" system is a separate system from your deeded weeks / points system And the Portfolio Points system is probably something that you will not want to have anything to do with !

Also, be aware that if you buy a resell through an "authorized Hyatt approved reseller" that you can get the Hyatt Hotel Points exchange privilege. I do know that their are approved Hyatt resellers / brokers at Breckenridge (Mitze) , Beaver Creek (Sliffer Real Estate) , and Puerto Rico (Carmen), and I'm sure there are others near the other Hyatt properties. Does any one know of other Hyatt Approved resellers ?

 

[PerryKing]

For clarity on the topic, please refer to the top of the Hyatt Residence Club page for the Sticky on Hyatt MF. While the Sticky says "2017 MF", it actual includes several years of MF's. Look in Walnutbaron's post for the PDF of annual MF's at various HRC properties. The MF PDF is set up to show the breakdown of the components in the annual MF.

It seems to be out mostly out of date and incomplete however.

 

[PerryKing]

oh the sheet here says 2 bedroom weeks 4, 8, 10 and 13, 25,000 and studios in winter 7,000 to 13,000, 2 bedroom float which is 1 week winter and 17 float summer 15,000 up to 29,900. Mitzelle%breckenridgemsr.com. She responds right away. We just emailed her.

Just a point of clarification:
Full 1/20 ownerships are: one 7 day fixed ski week and 10 summer float days. (NOT 1 ski week and 17 summer Float days)

 

[PerryKing]

True, resale cannot exchange for Hyatt hotel points (World of Hyatt, or what ever they may call them in the future). However, the exchange rate is so poor, most do not find value in doing it anymore.

The Hyatt (HOTEL) Points Program has been a disaster. Hold on to those deeded units, they will have more value than the points program in the future.

The original Hyatt hotel "Gold Passport" points exchange system (1998) was even much worse that the current one. It was really really bad. The new current Hotel program is better than the old one, but it does have a cost - first a fee to deposit your points into the program (if you can because of CAPs in the program) and then you need to compare what value your giving up compared to what value your getting in the hotel room your exchanging for. That can vary, but be sure that there is a margin in there, where someone (Hyatt) makes a profit.

i.e. I did a test once where I gave up 7 nights at a Hyatt club property into the hotel points program, and then with the "Hotel Points" I received I could only get 5 Nights back in the same property and room type in the Hyatt Hotel reservation system. That was Time Share to Timeshare. (Yes, Hyatt was selling stays in the timeshares in their regular hotel reservation inventory - and still does).

The again, as for a Timeshare to a fancy Hyatt hotel Resort Exchange, it might be the same "cost" as the experiment I ran, but it might be better than loosing your points, and gives you the option to at least do something really exotic and different.

I do have one friend who just loves the program and raves about the fancy Hyatt resorts she has experienced. (Regardless of the "extra" cost to her by using her Time share points). I have not had any use for the Hyatt hotel exchange program - "A minor option" "last Resort" as I consider it - because I know that if I do use it that it has additional cost to it (the upfront fee to deposit your points into the program plus hidden cost when using them).

However as I said it might be an option that is better than loosing your points or for breaking out of your routine and to use them for that Exotic Hyatt resort ..someplace on the other side of the world. Just beware of and compare the cost first. Value the cost of your regular annual TS points by what they cost you from your maintenance fees. (Cost per point) ( Maintenance fee divided by points earned = Cost per point) compared to what it would cost you to just pay for that Hyatt Resort / Hotel stay at the available quoted rates for your stay, then make your decision. . Especially if you do not have any other better uses for your Time Share type points !

Might be that even if it cost more (in reality) to use your Time Share points for a Hyatt Hotel exchange that you want to do it anyway. And remember that you have to plan in advance if you plan to do that. There are short time limits for when you have to move your points from the home resort preference (HRRP) time to the Hotel Exchange program if you plan to use them for a future Hotel stay each year.

 

[bdh]

It seems to be out mostly out of date and incomplete however.

While not all Hyatt resorts are listed on the PDF, it provides a MF perspective (current, historical and by resort) that wasn't available until Hyatt got its own page here on TUG last year. The PDF info came from TUG users that provided info from their respective resort/week MF posted here on TUG. With MF's for next year not being known for another 3-4 months, the PDF does list the current MF for the properties listed. If you have more/better info, post it here on TUG so it can be added to the PDF.

Remember, "Team Work Makes the Dream Work"

 

[taterhed]

The original Hyatt hotel "Gold Passport" points exchange system (1998) was even much worse that the current one. It was really really bad. The new current Hotel program is

The Hyatt Points Program has been a disaster. Hold on to those deeded units, they will have more value than the points program in the future.

Perry: I'm 99.9% sure that @Sapper meant that the new "Hyatt Vacation Club Points" system and was not referring to the "World of Hyatt" points.

 

[Sapper]

The original Hyatt hotel "Gold Passport" points exchange system (1998) was even much worse that the current one. It was really really bad. The new current Hotel program is better than the old one, but it does have a cost - first a fee to deposit your points into the program (if you can because of CAPs in the program) and then you need to compare what value your giving up compared to what value your getting in the hotel room your exchanging for. That can vary, but be sure that there is a margin in there, where someone (Hyatt) makes a profit.

i.e. I did a test once where I gave up 7 nights at a Hyatt club property into the hotel points program, and then with the "Hotel Points" I received I could only get 5 Nights back in the same property and room type in the Hyatt Hotel reservation system. That was Time Share to Timeshare. (Yes, Hyatt was selling stays in the timeshares in their regular hotel reservation inventory - and still does).

The again, as for a Timeshare to a fancy Hyatt hotel Resort Exchange, it might be the same "cost" as the experiment I ran, but it might be better than loosing your points, and gives you the option to at least do something really exotic and different.

I do have one friend who just loves the program and raves about the fancy Hyatt resorts she has experienced. (Regardless of the "extra" cost to her by using her Time share points). I have not had any use for the Hyatt hotel exchange program - "A minor option" "last Resort" as I consider it - because I know that if I do use it that it has additional cost to it (the upfront fee to deposit your points into the program plus hidden cost when using them).

However as I said it might be an option that is better than loosing your points or for breaking out of your routine and to use them for that Exotic Hyatt resort ..someplace on the other side of the world. Just beware of and compare the cost first. Value the cost of your regular annual TS points by what they cost you from your maintenance fees. (Cost per point) ( Maintenance fee divided by points earned = Cost per point) compared to what it would cost you to just pay for that Hyatt Resort / Hotel stay at the available quoted rates for your stay, then make your decision. . Especially if you do not have any other better uses for your Time Share type points !

Might be that even if it cost more (in reality) to use your Time Share points for a Hyatt Hotel exchange that you want to do it anyway. And remember that you have to plan in advance if you plan to do that. There are short time limits for when you have to move your points from the home resort preference (HRRP) time to the Hotel Exchange program if you plan to use them for a future Hotel stay each year.

Hi PerryKing, my first paragraph was regarding the Hyatt hotel program. My second paragraph was regarding the new Hyatt timeshare program called Hyatt Points Program. My second paragraph did not have ""(HOTEL)" written in.

 

[Sapper]

Perry: I'm 99.9% sure that @Sapper meant that the new "Hyatt Vacation Club Points" system and was not referring to the "World of Hyatt" points.

Yes, taterhed, you are 100% correct, my second paragraph was referring to the new Hyatt timeshare points program.

 

[PerryKing]

???

 

[PerryKing]

?? Do you actually then mean the NEW Hyatt Portfolio (Points only) ownership program ? The Words: "Portolio Program" are key to describing the new system to prevent any confusion of which Hyatt program your talking about.


I do understand the difference. There are 4 aspects as I see it:

1. The Original Hyatt Vacation Club system of Deeded ownership - with an option to convert your time to points for use at other Hyatt Vacation club properties.

2. a sub part of this original system is (was ) The "original 1990's era option to convert your deeded time (points) into Hyatt Gold Passport Points for stays at Hyatt Hotel Resorts and Hotels. (The hotel Exchange system) It was a bad deal. ( I.e. what you give up in the Club properties vs.. what you can get at the Hyatt Hotel and resorts )

then 3. They later( 2000's ??) improved that system and made the exchange ratio a bit better.. And they also have just recently changed the name of Gold Passport points to World of Hyatt. (But this had nothing to do with the exchange ratio between Club points to "Hotel" points.

4. ... and Now:

The New Hyatt Residence club ownership system being sold: The Hyatt Residence club "Portfolio " system. Where no deeds are issued but where members buy into a part ownership of the trust holding various units at various Club resort properties. And with this new Portfolio system all new Hyatt Residence Club property developments and expansions will only be sold this way.

I took the occasion to attend the presentation for current Hyatt residence Club owners when I visited the Key West properties in November 2108. Current club members now have the opportunity to own in the Portfolio program and also keep their current deeded ownership. separate from each other. But with benefits that can be taken advantage of when one owns in both system. My bottom line opinion after the presentation of the HYATT PORTFOLIO PROGRAM was that it has some good features and benefits, which I would like to have. But that it is way over priced to current members. During the presentation they start by telling the member what is now wrong with and difficult to use about the current deeded / points system, and that they developed the Portfolio program to help improve the original systems deficiencies. My thought: " Well that's nice, And I see and appreciate the benefits of the new Portfolio program as explained, but why do I (we) have to pay (So Much) for a new improved system? Seems to me they should just grandfather us all and or give all current members the benefits of the Portfolio program.

 

[PerryKing]

Yes, taterhed, you are 100% correct, my second paragraph was referring to the new Hyatt timeshare points program.

I'm guessing that You actually mean the new " Hyatt Portfolio points" program, not to be confused with the original deeded week and points program or the Hotel points exchange system. Right ? The distinction is important to this discussion. see my prior post above. Thank You.

 

[Sapper]

I'm guessing that You actually mean the new " Hyatt Portfolio points" program, not to be confused with the original deeded week and points program or the Hotel points exchange system. Right ? The distinction is important to this discussion. see my prior post above. Thank You.

Welcome back. If you want to call it by its correct name, then you should refer to it as the "Multisite Vacation Ownership Program". However, people around here have been calling it the Hyatt Points Program, or HPP. I understand my post may have been confusing, but it was clarified back in July.