Hyatt Residence Portfolio

[Judymwg]

Every program has its downsides and complexities, but your description of HRC demonstrates an unwillingness to fully dig in and understand

Thank you for taking the time to respond. I will take your advice and study the program by reading through the stickies as suggested. In the meantime, we are still in Florida. We hope everyone remains safe during the upcoming Hurricane -

 

[WalnutBaron]

Thank you for taking the time to respond. I will take your advice and study the program by reading through the stickies as suggested. In the meantime, we are still in Florida. We hope everyone remains safe during the upcoming Hurricane -

Please take care and be careful. Don't hesitate to evacuate early if you're so inclined.

 

[taffy19]

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​

I have tried to figure out this document and would like to know the explanation of the line that starts with Comingle Points. What does it mean "After all weeks are active" under HRC?
and
"1st week of January (week 12)" under HPC?

Walnutbaron may be right in post #1 of this thread that ILG has started to sell this new program quietly now but will start selling this program seriously after they have the proper permits for all 50 States or are they waiting for the completion of the Combined Marriott/Starwood Loyalty Program sometime next year? Listen to the interview here by the Points Guy.

Also interesting to read this link again by the Timeshare Guru. It is very similar to the trust program that the Marriott has too with the different tiers and beyond. He explains it well but had some questions still.

 

[lizap]

I have tried to figure out this document and would like to know the explanation of the line that starts with Comingle Points. What does it mean "After all weeks are active" under HRC?
and
"1st week of January (week 12)" under HPC?

Walnutbaron may be right in post #1 of this thread that ILG has started to sell this new program quietly now but will start selling this program seriously after they have the proper permits for all 50 States or are they waiting for the completion of the Combined Marriott/Starwood Loyalty Program sometime next year? Listen to the interview here by the Points Guy.

Also interesting to read this link again by the Timeshare Guru. It is very similar to the trust program that the Marriott has too with the different tiers and beyond. He explains it well but had some questions still.

BUT Marriott allowed existing owners to convert for a nominal cost.

 

[Cropman]

BUT Marriott allowed existing owners to convert for a nominal cost.

That is what is so shocking. So much money to switch. I can understand if a person only has 1400 points, there might be some appeal. Spend $15k and now you can get any time, anywhere will be the pitch. The same $15k gets someone new the same pitch. Once every three years you can go anywhere at any time you want. 2200 points is all you need!

The problem will be the legacy inventory. Those Diamond (and platinum, and some gold high demand) week owners won't be giving them up for the price they want. The only inventory that will be available will be ski lodges in summer and other 1400 point weeks. I would love for nothing more than for this to be the best it's ever been. I'm just not sure this being the case at this price point.

 

[WalnutBaron]

That is what is so shocking. So much money to switch. I just don't this being the case at this price point.

That's been the issue ever since details of the HRP began to leak out a few months ago. The conversion cost is just prohibitive--and for what? HRC owners have it pretty good right now, and for a much greater value than HRP offers.

 

[taffy19]

BUT Marriott allowed existing owners to convert for a nominal cost.

Is this no longer the case? I hear nothing from this company.

PS. Does nobody know the answer to my question in post #28?

 

[Quinte]

Makes sense to me....

Anyone know why some resorts are excluded form the points program?

How much are they asking us to pay to convert?

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

 

[Tucsonadventurer]

Makes sense to me....

Anyone know why some resorts are excluded form the points program?

How much are they asking us to pay to convert?

The Colorado resorts with fractional ownership and Hawaii are excluded because the MFs are too high for the program to absorb. Puerto Rico , not sure the reason for that, probably some legality

 

[Tucsonadventurer]

I received a call from a sales rep from Bonita Springs. The portfolio program is now legal in AZ
so he was able to answer my questions about it. I had called there months ago but they could not talk to me then
as I reside in AZ. Most of the information has been reported on here but he did confirm that Hawaii would be added as soon as
they finished whatever procedure AZ just did to be legal. At that point all Hyatt owned inventory will go into the portfolio program which will
raise the current MFs of the portfolio program. What was new for me was that each year for $133 I could register my 2 legacy weeks into the program and get my points for them
on Jan 1 or before if my status was high enough. Of course to be able to do that I would have to pay close to $ 15,000 to buy 740 portfolio points which is pretty
steep and increase my MFs by $689 per yr. I would still be able to exchange into any resort same way as always ( not just the 9 portfolio resorts) but have priority biding and no
reservation fees. If it didn't cost $15,000 to join I might consider it.
Does anyone know how much of Hawaii is unsold as I hate for all those units to get into the portfolio program and not have them available to legacy owners.
Oh and supposedly there are new resorts being added such as New York, the Bahama's. Orlando and San Francisco. Mostly hotel conversions. Time will tell.
They were willing to take resale units and they would then make them available to use hotel points even though they are resale. Not a huge deal to us but surprising none the less.

 

[lizap]

I received a call from a sales rep from Bonita Springs. The portfolio program is now legal in AZ
so he was able to answer my questions about it. I had called there months ago but they could not talk to me then
as I reside in AZ. Most of the information has been reported on here but he did confirm that Hawaii would be added as soon as
they finished whatever procedure AZ just did to be legal. At that point all Hyatt owned inventory will go into the portfolio program which will
raise the current MFs of the portfolio program. What was new for me was that each year for $133 I could register my 2 legacy weeks into the program and get my points for them
on Jan 1 or before if my status was high enough. Of course to be able to do that I would have to pay close to $ 15,000 to buy 740 portfolio points which is pretty
steep and increase my MFs by $689 per yr. I would still be able to exchange into any resort same way as always ( not just the 9 portfolio resorts) but have priority biding and no
reservation fees. If it didn't cost $15,000 to join I might consider it.
Does anyone know how much of Hawaii is unsold as I hate for all those units to get into the portfolio program and not have them available to legacy owners.
Oh and supposedly there are new resorts being added such as New York, the Bahama's. Orlando and San Francisco. Mostly hotel conversions. Time will tell.
They were willing to take resale units and they would then make them available to use hotel points even though they are resale. Not a huge deal to us but surprising none the less.

Keep in mind that a 'salesperson' called you. Again, until HRC owners receive something official, I would not believe any of this..

 

[WalnutBaron]

Keep in mind that a 'salesperson' called you. Again, until HRC owners receive something official, I would not believe any of this..

I'm starting to wonder if HRC owners will ever receive something official. It makes no sense to me that we haven't yet, since unknowing owners are probably the biggest "prospects" for the sales weasels, but HRP has been the worst-kept secret for nearly a year now--and no official or formal pitch has been made. Maybe the sales strategy is to hit up the owners individually when they vacation at their home resorts during those much-loved and ever-useful Owners Updates!

 

[lizap]

I'm starting to wonder if HRC owners will ever receive something official. It makes no sense to me that we haven't yet, since unknowing owners are probably the biggest "prospects" for the sales weasels, but HRP has been the worst-kept secret for nearly a year now--and no official or formal pitch has been made. Maybe the sales strategy is to hit up the owners individually when they vacation at their home resorts during those much-loved and ever-useful Owners Updates!

But they need us to convert to have enough inventory. I believe they are trying to get as many to convert at 15k before sending out an official announcement to us that we can convert at a figure very similar to what Marriott owners were offered to convert.

 

[Tucsonadventurer]

I'm starting to wonder if HRC owners will ever receive something official. It makes no sense to me that we haven't yet, since unknowing owners are probably the biggest "prospects" for the sales weasels, but HRP has been the worst-kept secret for nearly a year now--and no official or formal pitch has been made. Maybe the sales strategy is to hit up the owners individually when they vacation at their home resorts during those much-loved and ever-useful Owners Updates!

Excellent point Liz and Walnut . When I asked the salesman he claimed all this would be in the contract but that is after the fact. The part of the program that sounds good is that you can book any # of days. His example was
Hawaii . A Sat evening in Maui at a 2 bedroom would be 880 points so if you were in the Portfolio program, you could book 6 days and save 880 points . So if that is in fact true you could reserve 6 nights in a 2 bedroom in Maui for 1320 pts. If the price was less and this was in fact true and verified I would have interest.
Another point he made which makes me skeptical is his stating that Hyatt and Vistanna would eventually be able to book each other's resorts. I was told by another rep. that this was looked at and discarded due to some legalities.
The salesman was compelling though and if someone was not on TUG I can see them being influenced. He also said their sales base is current owners. People that rent and come in off the street are not buying.
He went through all the problems with the current system and then showed how their new program counteracted them.

 

[WalnutBaron]

He also said their sales base is current owners. People that rent and come in off the street are not buying. He went through all the problems with the current system and then showed how their new program counteracted them.

And that is at the very crux of whether HRP will succeed or collapse under its own weight. Are there problems with the HRC system? Yes, but no system is perfect. Among my minor complaints about HRC is the antiquated website, the inability to see availability for a desired internal trade using points by dates (such that, for example, if my original date(s) are not available, I can see nearby dates that are available and reserve those--something easily done in the Hilton system), and the fact that I can only trade internally in increments of 2,3,4, or 7 days at a time.

But, compared to most other systems, the HRC system is pretty fantastic. And the uniform high quality of the product is a huge plus, especially in light of the relatively reasonable maintenance fees.

The price tag Hyatt is asking for HRC owners to convert to HRP is prohibitive. I can, for example, buy another HRC week or two through the resale market--and at lower annual MF's--than the cost of conversion to HRP.

In light of that fact, I would correct one thing Tucson said: The sales base is not "current owners", but current owners who are not aware of the resale market and how much less expensive it would be to acquire additional weeks at resale prices.

 

[taffy19]

Something seems to be in the works so that may be why the long silence? Read this link and also the one that was posted in the Marriott forum. Will Marriott pull it off?

We will know soon enough but I am sure that the Hyatt Ka'anapali is going to be part of the new program one way or the other as was posted in post #24. Marriott owns a lot of hotels and is already converting rooms to 1 or 2 bedroom suites so hotel guests can use them too.

I wonder what it will do to the Legacy week owners who bought here (Maui) before ILG was the new owner? Some may like it but others do not like us. We feel defrauded right from the start.

 

[lizap]

Excellent point Liz and Walnut . When I asked the salesman he claimed all this would be in the contract but that is after the fact. The part of the program that sounds good is that you can book any # of days. His example was
Hawaii . A Sat evening in Maui at a 2 bedroom would be 880 points so if you were in the Portfolio program, you could book 6 days and save 880 points . So if that is in fact true you could reserve 6 nights in a 2 bedroom in Maui for 1320 pts. If the price was less and this was in fact true and verified I would have interest.
Another point he made which makes me skeptical is his stating that Hyatt and Vistanna would eventually be able to book each other's resorts. I was told by another rep. that this was looked at and discarded due to some legalities.
The salesman was compelling though and if someone was not on TUG I can see them being influenced. He also said their sales base is current owners. People that rent and come in off the street are not buying.
He went through all the problems with the current system and then showed how their new program counteracted them.

The part where he says Hyatt and Vistana will be able to book each other's resorts is very telling. This tells me this is sales talk; not a snowballs chance of Hyatt owners being able to book Westin mandatory resorts.

 

[lizap]

Something seems to be in the works so that may be why the long silence? Read this link and also the one that was posted in the Marriott forum. Will Marriott pull it off?

We will know soon enough but I am sure that the Hyatt Ka'anapali is going to be part of the new program one way or the other as was posted in post #24. Marriott owns a lot of hotels and is already converting rooms to 1 or 2 bedroom suites so hotel guests can use them too.

I wonder what it will do to the Legacy week owners who bought here (Maui) before ILG was the new owner? Some may like it but others do not like us. We feel defrauded right from the start.[/QUOTE

Something seems to be in the works so that may be why the long silence? Read this link and also the one that was posted in the Marriott forum. Will Marriott pull it off?

We will know soon enough but I am sure that the Hyatt Ka'anapali is going to be part of the new program one way or the other as was posted in post #24. Marriott owns a lot of hotels and is already converting rooms to 1 or 2 bedroom suites so hotel guests can use them too.

I wonder what it will do to the Legacy week owners who bought here (Maui) before ILG was the new owner? Some may like it but others do not like us. We feel defrauded right from the start.

I don't think Kaanapali is going to be great selling point if potential buyers know the truth. Kannapali has been extremely difficult for HRC owners to book, even with ongoing requests. It will be even more difficult for HPC owners to book.

 

[Cropman]

But they need us to convert to have enough inventory. I believe they are trying to get as many to convert at 15k before sending out an official announcement to us that we can convert at a figure very similar to what Marriott owners were offered to convert.

Lizap, I agree they need us to convert to have enough desirable inventory. However, now that they have rolled it out and started selling it at $15k ish, how can they ever sell it to others in 6 months or a year at $2-3k? (Just making up numbers at this point). There would be a revolt by people that did buy in at $15k. I don't think even Hyatt could handle that much negativity unless they refunded people, and no way that will happen. I just think they have put themselves in a corner and the prices will stay there. I really hope I'm wrong, because I think there are some aspects of the program that would be worthwhile but not at the buy in and higher MFs.

 

[lizap]

Lizap, I agree they need us to convert to have enough desirable inventory. However, now that they have rolled it out and started selling it at $15k ish, how can they ever sell it to others in 6 months or a year at $2-3k? (Just making up numbers at this point). There would be a revolt by people that did buy in at $15k. I don't think even Hyatt could handle that much negativity unless they refunded people, and no way that will happen. I just think they have put themselves in a corner and the prices will stay there. I really hope I'm wrong, because I think there are some aspects of the program that would be worthwhile but not at the buy in and higher MFs.

If what your saying turns out to be true, the ONLY way they will ever have enough inventory is to add more resorts. Do you think they really care if there is a revolt OR if there isn't enough inventory for HPC owners to reserve at resorts such as HKB?? With that said, I think they, ultimately, will be forced to lower the price to convert, whether that was their original intention or not. They can justify lowering the price by saying they had to do this to insure sufficient inventory. Complete lack of leadership at ILG. As an owner, really sorry to see this fiasco..

 

[Cropman]

[QUOTE="lizap, Complete lack of leadership at ILG. As an owner, really sorry to see this fiasco..[/QUOTE]

Totally agreed. Would really like to meet and hear the reasoning from the person who decided that keeping owners in the dark and vastly overpricing this program, was the way to go. Probably was a fan of "new Coke" for those that can remember that fiasco. If you are not on TUG, or to a lesser degree your resort's FB page, you have no idea what is going on until they surprise you with it at the meeting you NEED to go to, "To hear about all the new wonderful changes to the program!". I guess I really need to quit worrying about it. It won't affect me too much. I bought weeks where I wanted, and when I wanted. It would be nice if I can trade once in a while to other places in the system. But, all in all, they can't take away my deeded weeks and I'm good with that. And to those that buy in to the new program, best of luck to you. I really do hope it works out great for you.

 

[Tucsonadventurer]

I don't think Kaanapali is going to be great selling point if potential buyers know the truth. Kannapali has been extremely difficult for HRC owners to book, even with ongoing requests. It will be even more difficult for HPC owners to book.

Does anyone know how much of Hawaii is still owned by Hyatt? I would hate for that to go into the new program. According to the sales pitch ,prices are going up after Oct 1. I can't believe people are buying in at the current
price. Unlike many people We hardly ever use our home week so if the portfolio program were to take off we would need to change our strategy. We bought at places and weeks we like and there is lots in interval so we would
adapt. We also just purchased Westin Kierland, hoping to get some easier trades into Maui then we could with Hyatt. We love the Hyatt system as it is and even if the new program is successful, it is going to take a few years if not more to get off the ground. I am glad that I heard the pitch on the phone and will not be wasting precious vacation time learning about it at owner updates.

 

[lizap]

Does anyone know how much of Hawaii is still owned by Hyatt? I would hate for that to go into the new program. According to the sales pitch ,prices are going up after Oct 1. I can't believe people are buying in at the current
price. Unlike many people We hardly ever use our home week so if the portfolio program were to take off we would need to change our strategy. We bought at places and weeks we like and there is lots in interval so we would
adapt. We also just purchased Westin Kierland, hoping to get some easier trades into Maui then we could with Hyatt. We love the Hyatt system as it is and even if the new program is successful, it is going to take a few years if not more to get off the ground. I am glad that I heard the pitch on the phone and will not be wasting precious vacation time learning about it at owner updates.

We also own WKV. We have never had any trouble getting Hawaii (both Kauai and Maui) using our SOs (unlike HKB). We also have used our Hyatt for internal trading, but we have gotten some excellent trades via II (Marriotts in FL and Palm Desert). The minute our Hyatt no longer works for us we'll sell it in a heartbeat. Recouped our initial cost long ago..

 

[trendywendy]

NOOB here - I just purchased the HPP at San Antonio Wild Oaks and wondering if this is a good decision. We can get a refund within 45 days. I can share details of the pitch and hope you all can let me know what you think! What is described on this page is mostly correct - http://www.thetimeshareguru.com/hyatt-residence-portfolio-program.html (there's an updated redemption chart in their booklet)

For the portfolio program, you can purchase a set number of points. Currently, they're $19.75 / point and they said it would go up in October 1 to $24+ / point. Hyatt guarantees a buyback rate of $19.75 if they decide to buyback from you. You can stay at ANY HRC property (not only the ones listed earlier in the thread) using the HRC booking system (grid with points for room sz / time of the year). You can convert HPP to World of Hyatt points at 1:41 ratio. You can also book through Interval International (ILG).

We purchased the 1,100 point package, which will buy us ONE OF THE FOLLOWING:
1 week / 2 BR - low season (HPP - San Antonio)
OR
1 week / 2 BR - mid season (ILG exchange)
OR
45,000 World of Hyatt hotel points

As a purchase bonus, we got 100,000 WOH points, 2 ILG bonus weeks and 1 HRC bonus week.

Is this a good deal? Why or why not?

Thanks!!

 

[lizap]

NOOB here - I just purchased the HPP at San Antonio Wild Oaks and wondering if this is a good decision. We can get a refund within 45 days. I can share details of the pitch and hope you all can let me know what you think! What is described on this page is mostly correct - http://www.thetimeshareguru.com/hyatt-residence-portfolio-program.html (there's an updated redemption chart in their booklet)

For the portfolio program, you can purchase a set number of points. Currently, they're $19.75 / point and they said it would go up in October 1 to $24+ / point. Hyatt guarantees a buyback rate of $19.75 if they decide to buyback from you. You can stay at ANY HRC property (not only the ones listed earlier in the thread) using the HRC booking system (grid with points for room sz / time of the year). You can convert HPP to World of Hyatt points at 1:41 ratio. You can also book through Interval International (ILG).

We purchased the 1,100 point package, which will buy us ONE OF THE FOLLOWING:
1 week / 2 BR - low season (HPP - San Antonio)
OR
1 week / 2 BR - mid season (ILG exchange)
OR
45,000 World of Hyatt hotel points

As a purchase bonus, we got 100,000 WOH points, 2 ILG bonus weeks and 1 HRC bonus week.

Is this a good deal? Why or why not?

Thanks!!

I would definitely rescind. There's way too much uncertainty as to how much inventory will be available for you to book. I would hold off to see how successful the program is going to be before buying. Many here have serious doubts about its viability. As to price going up, don't believe it. Typical sales technique to get you to buy now.