$4,000 for Hyatt Coconut Plantation 2,200 week - good deal? Bad deal?

[echino]

Taking into account their ~$1,600 MFs, $4,000 + closing (assuming it passes ROFR) - what kind of a deal is it for a diamond week - fantastic / good / OK / bad? What's the possibility of increasing MFs and/or special assessments as a result of the hurricane damage?

 

[ArizonaSun4Fun]

Taking into account their ~$1,600 MFs, $4,000 + closing (assuming it passes ROFR) - what kind of a deal is it for a diamond week - fantastic / good / OK / bad? What's the possibility of increasing MFs and/or special assessments as a result of the hurricane damage?

Coconut Plantation is an awesome property, and the new water park area at the Hyatt Coconut Point makes this property even more attractive as a family resort. However, the maintenance fees are increasing quickly the last two to three years. For a diamond week, I wouldn't hesitate on the maintenance fees. However, for some gold and silver weeks, the annual price is getting steep.

The purchase price of $4,000 is a steal, and most likely won't past ROFR. Good luck though!!

 

[WalnutBaron]

It's fantastic. It's better than that. Which means it is highly unlikely it would pass ROFR.

 

[echino]

I looked at eBay sold units, and saw this:

2,000 EOY was recently sold for $9.50 + transfer and closing
2,200 annual was recently sold for $3,589 + $650 transfer + free closing

This means that regardless of ROFR, $4,000 + transfer + closing is above recent deals. Plus already high MFs, and a risk of increasing MFs and special assessments due to hurricane damage. So I passed on that.

I any tuggers want it, it's on eBay now for $4,699 or best offer (hint: see the subject of this thread for an offer likely to be accepted).

 

[LurkerBee]

A year ago, that would pass RORF for an EOY, but not an every year. No idea about now.

 

[lizap]

It won't pass ROFR..

 

[bdh]

Agree that it should not pass ROFR. However HRC's pace of taking units via ROFR has recently slowed considerably - not sure if they're running out of money to buy the units or if their appetite for units has subsided as they aren't selling very many HPP contracts. But expect the $4k is still to low for them not to exercise ROFR.

 

[lizap]

Agree that it should not pass ROFR. However HRC's pace of taking units via ROFR has recently slowed considerably - not sure if they're running out of money to buy the units or if their appetite for units has subsided as they aren't selling very many HPP contracts. But expect the $4k is still to low for them not to exercise ROFR.

We knew HPC was going to be challenging for them to sell. Any day now, I look for them to make an offer to HRC owners to convert at a nominal price, similar to what Marriott did..

 

[Kal]

Taking into account their ~$1,600 MFs, $4,000 + closing (assuming it passes ROFR) - what kind of a deal is it for a diamond week - fantastic / good / OK / bad? What's the possibility of increasing MFs and/or special assessments as a result of the hurricane damage?

Given the increased ROFR possibility, I would take a shot at it. There's not much downside if you don't get it and a big upside if you do. Just make sure it is exactly what you want.

 

[Caligirlfrtx]

how many days do they have to exercise ROFR? is it business days?

 

[Tucsonadventurer]

Yes 30 business days and they often take all that time. We lost 1 out of the 3 we made offers on. They seem to be buying back the units that are where they are
currently pushing the new program, Florida and AZ. Not sure where else they are approved to offer it.

 

[maizeandblue]

I just got a late diamond week in KW to pass for $2400. It used to be a gold 1880 week on the old chart. Perhaps the Hurricanes or lackluster success of the points program have Hyatt buying back less.

 

[bdh]

I just got a late diamond week in KW to pass for $2400. It used to be a gold 1880 week on the old chart. Perhaps the Hurricanes or lackluster success of the points program have Hyatt buying back less.

Passing ROFR at $2400 for a KW diamond def shows they have slowed - in qtr 2 and 3 this year they exercised ROFR on about half (approx 30 out of 60) of the resales presented by one agent. The ones they took back this year were similar to what they took last year in that the weeks were relatively evenly spread across all 3 KW properties - however they tended to exercise more on the prime weeks of 1 thru 16 this year as opposed to last year of any week/time of year. Agree that the combination of IRMA and lackluster HPP sales (def nobody in town the past month to sell anything to) has put a damper on ROFR activity.

Given the increased ROFR possibility, I would take a shot at it. There's not much downside if you don't get it and a big upside if you do. Just make sure it is exactly what you want.

Also agree with KAL on this as well, you have nothing to lose by taking a shot at it.

 

[Panina]

I just got a late diamond week in KW to pass for $2400. It used to be a gold 1880 week on the old chart. Perhaps the Hurricanes or lackluster success of the points program have Hyatt buying back less.

Congratulations, that is a great price. Shows you never know...most would say it would never pass rofr but it did. Enjoy!

 

[Kal]

Without doubt Hyatt has a HRP strategy with specific goals, objectives and a timeline for sales volume. If any Hyatt sales people are in KW, they would be staring at the white board like a deer in the headlights. FLAT LINE at zero $ definitely gives them a serious case of intestinal blockage. And someone in upstate Florida wants to take more ROFR sales! Say what!!!!

Me thinks someone behind the door in the corner office is whispering thoughts of a HRP exit strategy.

 

[WalnutBaron]

Without doubt Hyatt has a HRP strategy with specific goals, objectives and a timeline for sales volume. If any Hyatt sales people are in KW, they would be staring at the white board like a deer in the headlights. FLAT LINE at zero $ definitely gives them a serious case of intestinal blockage. And someone in upstate Florida wants to take more ROFR sales! Say what!!!!

Me thinks someone behind the door in the corner office is whispering thoughts of a HRP exit strategy.

I hope you're right, Kal. And if you are, good riddance to the ill-advised, greed-induced, incredibly arrogant and hare-brained idea of HRP in the first place. And oh by the way, if there is indeed an HRP exit strategy, I'd love to be a fly on the wall to hear how the heck Hyatt/ILG plan to handle those hapless owners of HRP, who own nothing real except a promise on a piece of paper at exorbitant annual MF's. Wow. What a mess.

 

[Tucsonadventurer]

I hope you're right, Kal. And if you are, good riddance to the ill-advised, greed-induced, incredibly arrogant and hare-brained idea of HRP in the first place. And oh by the way, if there is indeed an HRP exit strategy, I'd love to be a fly on the wall to hear how the heck Hyatt/ILG plan to handle those hapless owners of HRP, who own nothing real except a promise on a piece of paper at exorbitant annual MF's. Wow. What a mess.

The strange thing is when you read the facebook group there are some people jumping on this, claiming it's the greatest. What is interesting is that the Vistana week I just bought resale includes all those Portfolio
perks as just part of the program. There are no reservation fees and you can book single days or any amount of days you'd like. And trading my Westin Kierland week for Hawaii was incredibly easy. Not sure why people are paying 15,000
to change their weeks into that when you can buy a whole lot more resale. I am not convinced yet that it will fail as those that don't read TUG may be jumping.

 

[lizap]

The strange thing is when you read the facebook group there are some people jumping on this, claiming it's the greatest. What is interesting is that the Vistana week I just bought resale includes all those Portfolio
perks as just part of the program. There are no reservation fees and you can book single days or any amount of days you'd like. And trading my Westin Kierland week for Hawaii was incredibly easy. Not sure why people are paying 15,000
to change their weeks into that when you can buy a whole lot more resale. I am not convinced yet that it will fail as those that don't read TUG may be jumping.

No question it is quite easy to get to Hawaii at non-peak times if you own a Vistana mandatory unit..