Hyatt Residence Portfolio

[WalnutBaron]

I contacted a very helpful, experienced (13 years with HRC) owner services rep today through 1.800.GOHYATT to get as much information as is available on HRP. She emphasized that "this program is brand new but we do have an extensive booklet made available to owner services representatives" to help answer questions.

Here is the lowdown on what I was able to learn:

• The HRP includes all HRC resorts except Hyatt Mountain Lodge, Hyatt Residences at Beaver Creek, Hyatt Main Street Station, and Hyatt Ka'anapali. (It does include Hyatt Aspen, which is the only Colorado property included in HRP.)
• HRP owners can buy points in quantities less than necessary for a 7-day stay.
• Reservations windows are similar to HRC, but not identical. (The rep told me I should contact sales for more details and offered to forward me to them, but I wasn't up to dealing with the sales weasels at this point.)
• Points stays can be combined with fixed week stays, meaning HRP owners can combine stays with weeks owned in HRC.
• "Inventory is limited, but is being expanded weekly to meet demand". (My interpretation of this item is that ILG is having some difficulty convincing HRC owners to convert to points and is therefore populating the HRP trust with weeks purchased by way of Hyatt's ROFR rights. As has been discussed elsewhere, this will be a slow and tedious process for Hyatt.)
• "While the program is open and available now, the intent is to sell this program quietly now but to expand to a much more robust program early next year." I asked for clarification on this point, but she was unable to give me more details, as she admitted she was reading from the booklet.

 

[lizap]

What she left out is that HRC owners will be able to convert to PPP permanently or on an annual basis for a fee. Also Puerto Rico is not included in PPP.

 

[lizap]

I strongly believe that when they officially rollout PPP next year, HRC members will have the option to convert to PPP at a very reasonable fee, should they decide to do so (similar to Marriott). They might even waive this fee for a short period of time if they're desparate to get PPP inventory. I agree this is going to be a slow and arduous process. In the meantime, Hyatt salespeople are trying to get current HRC members to convert at a very high cost. If, in fact, this does transpire, which I think it will (and salespeople are aware of the plan, which many probably are), I have to question the ethics of this. Why not just send an 'official' announcement to current HRC members about what our options will be? There just is no leadership in this...

 

[Kal]

So what they are saying for HRC, the PPP owners have an opportunity to stay at HRC units. As of now, there is one Carmel, two beach House, three at Pinion, and one at Sunset Harbor. [these are estimates, there could be a few more or less! ]

 

[Tucsonadventurer]

I strongly believe that when they officially rollout PPP next year, HRC members will have the option to convert to PPP at a very reasonable fee, should they decide to do so (similar to Marriott). They might even waive this fee for a short period of time if they're desparate to get PPP inventory. I agree this is going to be a slow and arduous process. In the meantime, Hyatt salespeople are trying to get current HRC members to convert at a very high cost. If, in fact, this does transpire, which I think it will (and salespeople are aware of the plan, which many probably are), I have to question the ethics of this. Why not just send an 'official' announcement to current HRC members about what our options will be? There just is no leadership in this...

I was told by sales that as resale owners we did not even have an option of converting to the portfolio program.

 

[lizap]

I was told by sales that as resale owners we did not even have an option of converting to the portfolio program.

The original plan (it may have changed) was to allow HRC members the option to convert to PPP permanently or to do it on an annual basis for a fee. Naturally salespeople won't tell you this as they are trying to make a huge amt. of $ before we are given our options. Would be very difficult for HPC to have enough inventory without this. It will be quite similar to what Marriott owners paid to enroll their weeks in the points program.

 

[bdh]

I was told by sales that as resale owners we did not even have an option of converting to the portfolio program.

Hard to imagine that the sales staff response is correct. The PPP needs as many HRC owners to buy in/convert as possible, so ILG/HRC wouldn't want to exclude any HRC owner regardless of how they became an owner.

 

[Cropman]

I was told by sales that as resale owners we did not even have an option of converting to the portfolio program.

I have no doubt that sales told you this and are probably going to tell people they need to 'Hyattize' the week they own to get around this problem. But, I can't imagine this would even be close to being true. It would take too many potential prime weeks out of play.

 

[Pathways]

So what they are saying for HRC, the PPP owners have an opportunity to stay at HRC units. As of now, there is one Carmel, two beach House, three at Pinion, and one at Sunset Harbor. [these are estimates, there could be a few more or less! ]

Someone directly involved in the transaction said a week ago Hyatt took 5 out of 5 in KW by ROFR. (All three properties involved)

 

[WalnutBaron]

Someone directly involved in the transaction said a week ago Hyatt took 5 out of 5 in KW by ROFR. (All three properties involved)

If that's true, it's not necessarily a bad thing. Resale values are going to go up, especially on fixed weeks during prime season.

 

[Cropman]

Someone directly involved in the transaction said a week ago Hyatt took 5 out of 5 in KW by ROFR. (All three properties involved)

Were they all Diamond and Platinum weeks?

 

[Kal]

Someone directly involved in the transaction said...

If that "someone" is a sales person, I would consider the source.

 

[dagger1]

We bought the weeks and unit sizes we want at HWOR and HMSS so that everyone in our large family knows exactly when the Hyatt resort family get togethers are, everyone can plan accordingly. We didn't want "floating" "maybe" weeks with Hyatt, the preplanning gets too difficult with a family as large as ours. With fixed weeks (most of which are summer for school reasons, one fixed ski week that will require vacation days), this is perfect for us. We have Wyndham CWA points for our "floating" trips, mainly my wife and I and friends. We don't need more points, definitely not with Hyatt resorts.

 

[Pathways]

Were they all Diamond and Platinum weeks?

One Gold (ok, this was a Fantasy Fest week), two Plat, and two Diamond.

I will sent the complete info to Kal presently.

If that's true, it's not necessarily a bad thing. Resale values are going to go up, especially on fixed weeks during prime season.

Resale up is bad if you are buying, good only if you are actively selling. If this points thing tanks, due do either failure to attract buyers, or through stockholder pressure, then what direction will the prices go?

My concern is there are a lot of original owners in KW who may see the price bump as a great time to exit. How long will it take for Hyatt to get the votes to take direct control of the BOD's?

 

[Kal]

...My concern is there are a lot of original owners in KW who may see the price bump as a great time to exit. How long will it take for Hyatt to get the votes to take direct control of the BOD's?

In a typical BOD, the elected members are owners except for one position that is a developer rep. The developer BOD position is only present if the developer holds a certain percentage of the units. Otherwise, there is no developer on the BOD. An example is Sunset Harbor where the developer BOD member was voted out a number of years ago. Therefore, Hyatt would have to lobby each BOD member to get votes in their favor. Hyatt does not take direct control of the BOD, but they spoon feed every bit of information the BOD receives. The BOD generally accepts anything Hyatt has to say so it's a "closet takeover".

 

[JustynaC]

I'm interested in knowing at what price did Hyatt buy back the Platinum weeks for.

 

[lizap]

I'm interested in knowing at what price did Hyatt buy back the Platinum weeks for.

Going to depend on the resort, but I would not consider buying Hyatt until the PPP particulars are officially announced to existing HRC owners, unless you ONLY plan to use the week you buy.

 

[JustynaC]

Thank you! I was inquiring about Hyatt Sunset Harbor in Key West in Diamond season.

 

[Pathways]

Thank you! I was inquiring about Hyatt Sunset Harbor in Key West in Diamond season.

The SH was a 2000 for $8500

 

[Judymwg]

Hi. Currently staying at Coconut Point. Met with sales yesterday. I really like the program but the price tag is very high. We also own with Marriott so we understand the changes. We plan to hold out for a reasonable offer. In the meantime, here's a pic of the document I received. The columns are as follows: Feature, HRC, HPC​

 

[lizap]

View attachment 4661

Hi. Currently staying at Coconut Point. Met with sales yesterday. I really like the program but the price tag is very high. We also own with Marriott so we understand the changes. We plan to hold out for a reasonable offer. In the meantime, here's a pic of the document I received. The columns are as follows: Feature, HRC, HPC​

Promoting HPC in 1st post. Hmm... how can you like something when the price tag is ridiculously high?? This is a scheme for ILG to make more money. When you have a mature product, such as TSs, you either come up with new products or re-invent old ones.. There is no incentive for someone to purchase this product (as opposed to a deeded week) at current prices.. I feel sorry for those poor souls that get suckered into this..

 

[Judymwg]

Good question. I bought into HRC via Piñon Pointe. The least expensive retail property. I never planned to use my deeded property and the current HRC program has been nothing but a disappointment; particularly all the CUP and LCUP timeline and rules. I most often just use Interval and trade to Marriott resorts. The new program would create the flexibility which I thought I was buying the first time around. I would like to finally be able to use Hyatt resorts but I'm not willing to pay the current ridiculous price tag to do so.

 

[lizap]

Good question. I bought into HRC via Piñon Pointe. The least expensive retail property. I never planned to use my deeded property and the current HRC program has been nothing but a disappointment; particularly all the CUP and LCUP timeline and rules. I most often just use Interval and trade to Marriott resorts. The new program would create the flexibility which I thought I was buying the first time around. I would like to finally be able to use Hyatt resorts but I'm not willing to pay the current ridiculous price tag to do so.

We bought into Hyatt (HRC) several years ago and have been extremely happy with our purchase. Have traded into other Hyatt resorts as well as used the points in II. Often refer to our Hyatt purchase as the 'energizer bunny', just keeps going and going. Recouped our initial investment long ago. Did you buy a week worth at least 1880 pts. (gold week)? If not and you are trying to visit during a peak time, that could account for some of your difficulty in using Hyatt's internal exchange system. A huge difference between Marriott's system and Hyatt's new HPC - Marriott allowed existing owners an opportunity to convert deeded weeks to the points system for a nominal fee. I heard from a source several months ago that this was Hyatt's plan as well. However, so far, there as been no announcement to existing owners as to our options. Without access to our weeks, I have a hard time seeing how they will have enough inventory to make the new HPC successful.. I believe they will eventually do this, but it appears they are going to try to sucker those few poor naive souls into converting for ridiculous amounts of money before they make this offer.

 

[WalnutBaron]

Good question. I bought into HRC via Piñon Pointe. The least expensive retail property. I never planned to use my deeded property and the current HRC program has been nothing but a disappointment; particularly all the CUP and LCUP timeline and rules. I most often just use Interval and trade to Marriott resorts. The new program would create the flexibility which I thought I was buying the first time around. I would like to finally be able to use Hyatt resorts but I'm not willing to pay the current ridiculous price tag to do so.

Every program has its downsides and complexities, but your description of HRC demonstrates an unwillingness to fully dig in and understand what you own. Yes, there are complexities with HRC--but if you're using Hyatt Pinon Pointe as essentially an II trader, then you have a relatively expensive one without seeking the benefits of using your points attendant to your ownership to trade within HRC for Hyatt resorts. Those resorts are pretty much uniformly fantastic, and if you read these boards you will find a high level of satisfaction from current HRC owners. To say that "I'd like to finally be able to use Hyatt resorts" simply shows that you've not studied well how to use what you already have.

HRC--just like Marriott or Vistana or Hilton--does have many rules. I even think that some of these rules are written for the express purpose of making things difficult for owners to get the full benefit of their ownership because those who don't make more $$ for ILG than the owners who squeeze every last dollar of value out of their ownership. You might want to check out the stickies on this forum. I'll bet if you spend 2-3 hours reading the stickies, you'll eventually feel much different about HRC.

 

[scsu_hockey_fan]

The way they differentiate the access to future new properties, 6 months looks like the magic number and makes me think that at the 6 month mark that both inventories will be pooled together and then available for both clubs, HRc and hpc, new AND old resorts. Just my thought and obervations

View attachment 4661

Hi. Currently staying at Coconut Point. Met with sales yesterday. I really like the program but the price tag is very high. We also own with Marriott so we understand the changes. We plan to hold out for a reasonable offer. In the meantime, here's a pic of the document I received. The columns are as follows: Feature, HRC, HPC​