Hyatt Residence Portfolio

[wilma]

Variety of HPP information from a recent owner update/sales presentation.

According to the salesman, Hyatt is going to increase the number of properties as they're adding 5 new resorts - only location that was mentioned was Key West. (Not sure why they would need a fourth property in Key West - unless they haven't obtained enough KW inventory thru ROFR.) Construction has started at Coconut Plantation and Wild Oak on new buildings - these would obviously be in the HPP program in lieu of the HRC program. Would be interesting to know if they consider those as 2 of the 5 "new resorts".

When asked the specific question on HPP availablity, the salesman would answer "Oh, there's lots of availability" - there was never any specific information as to current availability.

When asked the specific question regarding the disposition of HRC weeks that roll from HRPP to CUP and if the HPP member would have access to the CUP unit, there was never a definitive answer. So the obvious inference is that until an HRC member buys into the HPP program and moves their HRC week to the HPP bucket, the HRC week remains in the HRC bucket and the HPP member does not have access to the HRC week.

Started selling points in May at $19.50 per point. A price increase to $19.75 in July and now $20 a point in October. They anticipate another price increase by the end of the year.

Annual maintenance fee is $0.93 per point.

They have four different tiers of point levels/benefits. The top tier is Elite at 8000 points and above. The benefit for Elite owners is that they can get on the wait list at 18 months as opposed to 12 months for all other HPP members.

The minimum number of HPP points that can be purchased is 660. With that purchase, they would allow a person to Hyattize one of their HRC weeks. Hyattizing a week would allow the person to move their HRC points into the HPP program on January 1 each year. The moving of HRC points to HPP is an owner's elective each year.

If an HRC owner has multiple weeks, the minimum HPP purchase is $18,000 to Hyattize two HRC weeks. If an HRC owner has more than two weeks, it seemed to be like Monty Hall's Let's Make a Deal as there was not a set price per week after two HRC weeks - however a $30,000 HPP purchase was bantered about to Hyattize all HRC weeks.

HPP points are good for 4 years. Points can be used for Residence Club (if moved by an HRC owner to the HPP program), Potrfolio Program reservations, Hotel reservations, Cruise reservations and Excursion reservations (jet ski, spa, site seeing, etc.

Hyatt has been peddling the bs about new un-named resorts since the beginning. Remember New York? One salesman claimed a new residence club in Cancun, i stopped listening to the “new resorts” line.

 

[heathpack]

Wow, spend $13000 to Hyattize my Hyatt High Sierra week? That would make it a Hyatt Hyatt High Sierra week. Total joke. Zero chance I'd give this ridiculous company any money.

I thought we had "inside information" that current owners would have the opportunity to participate in HPP for a minimal fee?

We went to a sales presentation in Carmel last March and were treated pretty disrespectfully by the salesman we met with them. Really amazed at how low Hyatt seems to have fallen...

 

[WalnutBaron]

We went to a sales presentation in Carmel last March and were treated pretty disrespectfully by the salesman we met with them. Really amazed at how low Hyatt seems to have fallen...

I know you've lost faith in Hyatt from reading some of your other posts. I would simply say that--as Kal has often pointed out--there's a big difference between the lowly, witless, and lying sales weasels and those who otherwise manage the properties and work so hard to make all of us owners and guests comfortable when we visit an HRC property. Hyatt Residence Club has not fallen at all. If anything, I find that the quality of the properties, their maintenance, the hospitality, and the total vacation experience are better than ever.

As for ILG, that's another story.

My game plan is to simply wait ILG out. The HRP is twisting in the wind, and there are reports that Marriott Vacation Club may be negotiating to buy or merge with ILG. My guess is that--once management realizes this hare-brained idea was a complete fiasco--they will re-focus on building owner loyalty and work to further improve HRC.

 

[heathpack]

I know you've lost faith in Hyatt from reading some of your other posts. I would simply say that--as Kal has often pointed out--there's a big difference between the lowly, witless, and lying sales weasels and those who otherwise manage the properties and work so hard to make all of us owners and guests comfortable when we visit an HRC property. Hyatt Residence Club has not fallen at all. If anything, I find that the quality of the properties, their maintenance, the hospitality, and the total vacation experience are better than ever.

As for ILG, that's another story.

My game plan is to simply wait ILG out. The HRP is twisting in the wind, and there are reports that Marriott Vacation Club may be negotiating to buy or merge with ILG. My guess is that--once management realizes this hare-brained idea was a complete fiasco--they will re-focus on building owner loyalty and work to further improve HRC.

I think you mistake my position on Hyatt.

I never really had "faith" in them, I just own a timeshare with them and it wasn't the kind of thing that was particularly emotional for me- ie not something that had "faith" eventually betrayed. I knew buying any TS was a bit of a gamble, that the TS company holds a lot of the cards. In some ways I've won my gamble with Hyatt, in other ways I haven't. But overall I'm not dissatisfied with my ownership and in the end, my guess is that I'll have found good value in it when I am done with it.

If you read my posts, Im not critical of the resorts themselves, I find them lovely and they are more my style than anything else I own. I understand the difference between ILG/the HPP pushers and the resort employees.

When I post in this forum what are IMO realistic assessments of Hyatt ownership, I commonly get told to just sell if I'm dissatisfied. Which is fine- if people want to post those kind of replies have at it but I'm not seeking advice. I'm just trying to post about what are my rational observations. Not to denigrate anyone else's observations that differ from mind. Personally I think your perspective is great and I love to hear it. I think others' perspectives are great too, love to hear them. It's just a little amusing to me when other people give me advice as to how to "fix" my perspective on Hyatt. It doesn't need fixing. There's good, there's bad. And if I wanted out, I have a solid grasp as to what would move me to sell and how I'd go about doing that.

My comment about my presentation and Hyatt sinking low was a comparison of my first contact with Hyatt (Hyatt Vacation Club at the time) ever, which was at Highlands Inn- very classy presentation, around 10 years ago. They painted a rosy picture and glossed over important details but did not lie. This year, it was just your typical lying and scare tactics insulting your customer. I've had similar experiences with Marriott and Starwood (now Vistana). Disney seems to be the only one who has stayed classy in their presentations but honestly I'm getting that info second hand, no reason to go to a DVC presentation because there's such comprehensive/borderline obsessive info avail on the Internet, I don't need a presentation to learn about any changes to the system.

No need to worry that I'm upset or that I don't understand who's who or that I'm confused about the system or how to get value from it or need help in deciding when to cut my losses. It's ok (even desirable) IMO to post all kinds of opinions about Hyatts system here, not just the rosy ones.

 

[Kal]

I know you've lost faith in Hyatt from reading some of your other posts. I would simply say that--as Kal has often pointed out--there's a big difference between the lowly, witless, and lying sales weasels and those who otherwise manage the properties and work so hard to make all of us owners and guests comfortable when we visit an HRC property. Hyatt Residence Club has not fallen at all. If anything, I find that the quality of the properties, their maintenance, the hospitality, and the total vacation experience are better than ever...
.

My view of the Hyatt hucksters started about 10-15 years ago. At that time there were about 5 resorts and the sales office was in Key West on the third floor almost adjacent to Sunset Harbor. The sales people would come down and sit on the front steps to get some fresh air (HA, they really needed it!). I would stop and chat with them just to see if I could learn any news and bait them about resale pricing. Almost every time they would question me to learn about the Hyatt system and often asked how I knew so much about their own business. Eventually as I walked by they would grab me to learn even more about Hyatt time shares. It became very clear they only memorized their sales pitch and would makeup anything that came to mind. So now we see that they have perfected the game of doublespeak, avoid providing real facts and worshiping Monty Hall.

 

[bdh]

Couple of short comments this morning:

1. I love and thank the developer and the retail buyer - without them, resale purchases and TUG would not be possible.
2. Spoke with someone that did buy into the HPP as it "works for them". Did so due to the attraction of points lasting 4 years. As a side note, since all their previous deeded week purchases were from the developer, a single HPP purchase allows them the ability to move all their HRC points to HPP. Note: if a person's HRC deeded weeks were purchased resale, Hyatt requires a higher buy in dollar value of HPP to be able to Hyattize resale weeks.

FWIW: the HPP buyer I spoke with does intend to move all their HRC deeded week points to HPP every year.

 

[lizap]

Still think the plan was/is to eventually allow current HRC owners to convert for a nominal fee, similar to what Marriott did. If Marriott ends up buying, the odds of this happening are very good, IMO. They're going to sell as much as they can at these ridiculously high levels first, though. Problem is they're not going to have enough HPC inventory for a very long time

QUOTE="heathpack, post: 2067593, member: 31482"]Wow, spend $13000 to Hyattize my Hyatt High Sierra week? That would make it a Hyatt Hyatt High Sierra week. Total joke. Zero chance I'd give this ridiculous company any money.

I thought we had "inside information" that current owners would have the opportunity to participate in HPP for a minimal fee?

We went to a sales presentation in Carmel last March and were treated pretty disrespectfully by the salesman we met with them. Really amazed at how low Hyatt seems to have fallen...[/QUOTE]

 

[dagger1]

Couple of short comments this morning:

1. I love and thank the developer and the retail buyer - without them, resale purchases and TUG would not be possible.
2. Spoke with someone that did buy into the HPP as it "works for them". Did so due to the attraction of points lasting 4 years. As a side note, since all their previous deeded week purchases were from the developer, a single HPP purchase allows them the ability to move all their HRC points to HPP. Note: if a person's HRC deeded weeks were purchased resale, Hyatt requires a higher buy in dollar value of HPP to be able to Hyattize resale weeks.

FWIW: the HPP buyer I spoke with does intend to move all their HRC deeded week points to HPP every year.

Extending usage from 18 months to 48 months is attractive, but not for us. We bought our fixed weeks/units for one purpose: to use every year. This was the attraction for us. And to pay such a huge fee to enroll weeks.... But it obviously makes sense to some, because they are buying into it...

 

[WalnutBaron]

Extending usage from 18 months to 48 months is attractive, but not for us. We bought our fixed weeks/units for one purpose: to use every year. This was the attraction for us. And to pay such a huge fee to enroll weeks.... But it obviously makes sense to some, because they are buying into it...

I think you've hit on one of the main weaknesses of the HRP, dagger: unlike some other systems that have obvious "traders" (for example, Sheraton Desert Oasis in the Vistana system), the Hyatt Residence Club just has a family of top-notch resorts that owners typically want to visit or trade internally. They don't think about banking weeks because--even though the system is limited in its number of offerings and locations--those weeks promise a really fantastic vacation in beautiful surroundings at a great resort.

Yes, some are buying into this, but at a fearful price to do so.

 

[dagger1]

I think you've hit on one of the main weaknesses of the HRP, dagger: unlike some other systems that have obvious "traders" (for example, Sheraton Desert Oasis in the Vistana system), the Hyatt Residence Club just has a family of top-notch resorts that owners typically want to visit or trade internally. They don't think about banking weeks because--even though the system is limited in its number of offerings and locations--those weeks promise a really fantastic vacation in beautiful surroundings at a great resort.

Yes, some are buying into this, but at a fearful price to do so.

Exactly. Perfectly said!

 

[bdh]

Problem is they're not going to have enough HPC inventory for a very long time

Will be interesting to see how the deposit of all their HRC points to the HPP works out for the recent buyer I spoke with works out. When they travel, they stay at least 4 weeks and sometimes 6 or 8 weeks at a HRC resort. Thinking they will have a difficult time getting into HSH for a month via the HPP program.

 

[Tucsonadventurer]

Most of these HPP benefits are a given in other clubs so for us it just made us decide to buy another resale elsewhere.
We do like variety so love to exchange but I'd rather exchange through interval than pay buckets of money for the privilege to do so
within Hyatt.

 

[lizap]

I think you've hit on one of the main weaknesses of the HRP, dagger: unlike some other systems that have obvious "traders" (for example, Sheraton Desert Oasis in the Vistana system), the Hyatt Residence Club just has a family of top-notch resorts that owners typically want to visit or trade internally. They don't think about banking weeks because--even though the system is limited in its number of offerings and locations--those weeks promise a really fantastic vacation in beautiful surroundings at a great resort.

Yes, some are buying into this, but at a fearful price to do so.

We have gotten some excellent trades at Marriotts using our points in II. To me, Hyatt is the best of several worlds, great resorts, very good internal trading, and an excellent trader in II..

 

[WalnutBaron]

We have gotten some excellent trades at Marriotts using our points in II. To me, Hyatt is the best of several worlds, great resorts, very good internal trading, and an excellent trader in II..

I agree. And when you deposit into II through the External Exchange, a Hyatt deposit gets very high credit value. Yet another reason why the sales weasels are having such a hard time making a success out of HPP.

 

[Tucsonadventurer]

Hyatt has been peddling the bs about new un-named resorts since the beginning. Remember New York? One salesman claimed a new residence club in Cancun, i stopped listening to the “new resorts” line.

New resorts are "supposedly" New York, the Bahama's. Orlando and San Francisco. Mostly hotel conversions. AND of course I'll believe it when I see it. Hyatt
does need to get new resorts. If you look at the inventory, many of the few Hyatt properties there are, have only a few units assigned to Hyatt i.e. Northstar, Siesta Keys and Hyatt Residence Inn.
That being said, we have in the past been able to get in to all of these, just not easily or often. It will be interesting to see how this all plays out over time.

 

[heathpack]

New resorts are "supposedly" New York, the Bahama's. Orlando and San Francisco. Mostly hotel conversions. AND of course I'll believe it when I see it. Hyatt
does need to get new resorts. If you look at the inventory, many of the few Hyatt properties there are, have only a few units assigned to Hyatt i.e. Northstar, Siesta Keys and Hyatt Residence Inn.
That being said, we have in the past been able to get in to all of these, just not easily or often. It will be interesting to see how this all plays out over time.

What do you mean "Hyatt Residence Inn"?

 

[Tucsonadventurer]

What do you mean "Hyatt Residence Inn"?

Should read, Residences at Park Hyatt . Sorry to be confusing

 

[Wild Coyote]

My wife and I went to a "Owners Update" at Pinion Pointe this past week. Actually it was a sales pitch for the HPP program. We currently have a Platnium week and we were presented with 3 buy in options for the HPP "Executive Level", which is level 2 of the 4 HPP levels. We could buy 660 points for $13,200, 780 points for $15,600 or 960 points for $19,200. Annual maintenance went up with each point category. Like others have stated we would have the option of transferring all or a portion of our current 2000 Platinum week points into the HPP.
One of the interesting aspects of the presentation was that we would maintain our deed for but that it would be place in a trust. Unfortunately, that was briefly mentioned early on in the presentation and we never got back to what that meant exactly. In thinking about it I would assume that placing your deed in this HPP Trust would place some restrictions on what you are able to do with your week. Hopefully, someone else may be able to provide some insight into what the ramifications of doing that would be.

We declined the offer at this time based on cost and unsure that all the benefits would be as flexible as they indicated.

 

[bdh]

One of the interesting aspects of the presentation was that we would maintain our deed for but that it would be place in a trust. Unfortunately, that was briefly mentioned early on in the presentation and we never got back to what that meant exactly. In thinking about it I would assume that placing your deed in this HPP Trust would place some restrictions on what you are able to do with your week. Hopefully, someone else may be able to provide some insight into what the ramifications of doing that would be.

This doesn't sound possible - how could the deed be in your name but also in the trust's name? Either you own the HRC deeded week or you don't.

I'm thinking what they meant was that you could move HRC deeded week points into the HPP?? (With a buy-in to HPP, you have the elective to move HRC deeded week points to HPP each year.)

 

[WalnutBaron]

We declined the offer at this time based on cost and unsure that all the benefits would be as flexible as they indicated.

First, welcome to TUG! I hope you enjoy the community, and we look forward to your input and insights.

Second, turning HPP down was a very wise move. Consider this: you now own a deeded fractional ownership at a beautiful resort that you enjoy. With HPP, you own nothing but a contract that extends your ownership from 18 months to four years--at a frightful buy-in price and at higher maintenance fees. One could argue that if you're buying into HPP in order to extend your reservation window, it might have been better to rent at a Hyatt location than own if 18 months isn't long enough in the first place.

There's another advantage to owning what you own: the exact fixed unit and fixed week, so you know exactly what you're getting each year. As you know, there are some locations that are much more advantageous at Pinon Pointe than others. With HPP, you could very easily end up in Building 6, with a lovely view of the parking lot. With HRC, you know what you own and where--every year you visit.

I think you did the right thing.

 

[mwwich]

I returned from Windward Point last Sunday and attended a sales presentation for the first time in quite a few years as I had heard of a new offering from Hyatt. Interesting experience. Sales guy was nice enough and they did keep it to less than hour. Sales manager lady (closer) was quite rude and basically said my ownership as I know it is over. My 2 weeks are resale and I know they hate that and admitted as much to her.....but I questioned why they would roll to something that owners have to re-invest in to keep current privileges? Isn't that bad way to treat loyal customers? Her answer was I have a smart phone and used to use a flip phone. Times changing and I have to change with them even at additional cost.

I too was offered to enroll one week if I bought 660 points and both weeks if I bought 990 points. $20/point and 93 cents/point maintenance fees. Was told the vast majority of owners were upgrading and inventory will dry up and I will be left to use the weeks I own and wouldn't be able to trade. I'm also a Marriott owner and remember hearing same from them when they rolled to a points program but my ability to reserve weeks via points seems to work fine. Also told points would increase in price soon and the window to convert would eventually close to previous weeks owners.

Closer lady argued that I paid $1495 to move in to Marriott points program but I think it was only $495.....hard to remember it's been awhile and too lazy to look it up. But she really was argumentative and to debate such a useless point to risk ticking me off. I've worked in sales for 30 years and amazed at the churn/burn tactics vs just explaining the product and let people decide. Of course if I didn't take it "that day" I wouldn't get this offer again. Going to Bonita Springs in June with the kids and curious what the pitch will be there....

I will say they had the room full of people on a perfect Wed afternoon....incentives were $100 gift cards and 20-30% off a couple excursions we wanted to do so I felt it was worth the hour.

 

[lizap]

I returned from Windward Point last Sunday and attended a sales presentation for the first time in quite a few years as I had heard of a new offering from Hyatt. Interesting experience. Sales guy was nice enough and they did keep it to less than hour. Sales manager lady (closer) was quite rude and basically said my ownership as I know it is over. My 2 weeks are resale and I know they hate that and admitted as much to her.....but I questioned why they would roll to something that owners have to re-invest in to keep current privileges? Isn't that bad way to treat loyal customers? Her answer was I have a smart phone and used to use a flip phone. Times changing and I have to change with them even at additional cost.

I too was offered to enroll one week if I bought 660 points and both weeks if I bought 990 points. $20/point and 93 cents/point maintenance fees. Was told the vast majority of owners were upgrading and inventory will dry up and I will be left to use the weeks I own and wouldn't be able to trade. I'm also a Marriott owner and remember hearing same from them when they rolled to a points program but my ability to reserve weeks via points seems to work fine. Also told points would increase in price soon and the window to convert would eventually close to previous weeks owners.

Closer lady argued that I paid $1495 to move in to Marriott points program but I think it was only $495.....hard to remember it's been awhile and too lazy to look it up. But she really was argumentative and to debate such a useless point to risk ticking me off. I've worked in sales for 30 years and amazed at the churn/burn tactics vs just explaining the product and let people decide. Of course if I didn't take it "that day" I wouldn't get this offer again. Going to Bonita Springs in June with the kids and curious what the pitch will be there....

I will say they had the room full of people on a perfect Wed afternoon....incentives were $100 gift cards and 20-30% off a couple excursions we wanted to do so I felt it was worth the hour.

Keep in mind current HRC owners have NOT received any type of official notification as to our options regarding HPP.

 

[WalnutBaron]

I returned from Windward Point last Sunday and attended a sales presentation for the first time in quite a few years as I had heard of a new offering from Hyatt. Interesting experience. Sales guy was nice enough and they did keep it to less than hour. Sales manager lady (closer) was quite rude and basically said my ownership as I know it is over. My 2 weeks are resale and I know they hate that and admitted as much to her.....but I questioned why they would roll to something that owners have to re-invest in to keep current privileges? Isn't that bad way to treat loyal customers? Her answer was I have a smart phone and used to use a flip phone. Times changing and I have to change with them even at additional cost.

I too was offered to enroll one week if I bought 660 points and both weeks if I bought 990 points. $20/point and 93 cents/point maintenance fees. Was told the vast majority of owners were upgrading and inventory will dry up and I will be left to use the weeks I own and wouldn't be able to trade. I'm also a Marriott owner and remember hearing same from them when they rolled to a points program but my ability to reserve weeks via points seems to work fine. Also told points would increase in price soon and the window to convert would eventually close to previous weeks owners.

Closer lady argued that I paid $1495 to move in to Marriott points program but I think it was only $495.....hard to remember it's been awhile and too lazy to look it up. But she really was argumentative and to debate such a useless point to risk ticking me off. I've worked in sales for 30 years and amazed at the churn/burn tactics vs just explaining the product and let people decide. Of course if I didn't take it "that day" I wouldn't get this offer again. Going to Bonita Springs in June with the kids and curious what the pitch will be there....

I will say they had the room full of people on a perfect Wed afternoon....incentives were $100 gift cards and 20-30% off a couple excursions we wanted to do so I felt it was worth the hour.

Even though I know this is par for the course for the sales weasels, it still ticks me off for your sake that you had to endure this kind of lousy treatment. Shall we count the number of outright lies the "closer" told you?

1. Times are changing in regard to HRC. Verdict: Lie. Your ownership is deeded, and even though it may frost ILG and Hyatt management, you'll still be able to enjoy the same ownership rights and privileges you've always had.
2. The vast majority of owners are upgrading. Verdict: Lie. Quite the opposite, I would say, which is reflected in the closer woman's desperate attempts to insult you into changing your mind. Lots has been said in this forum about the terrible value (if you can even call it that) of converting a really nice fixed week ownership into points at a huge conversion fee and higher maintenance fees. Why the heck would anyone do that?
3. Inventory will dry up. Verdict: Lie. The one place this might prove to be true is Hyatt Ka'anapali due to the recent swindled vote by Hyatt and HKB owners to de-link several fixed weeks units into floating weeks (probably for easier sale within HPP). Otherwise, all other properties currently have and will very likely continue to have plenty of trading inventory. The only way this would truly change is if ILG buys up choice units through ROFR or forfeiture. For a few months during the summer, they did seem to be more active in the ROFR market, but that has reported to have subsided--and the speculation is because the HPP program is not generating enough working capital through sales to adequately fund ROFR purchases.
4. Points will increase in price soon. Verdict: Probably True. This is a common sales tactic to force potential marks to part with their $$$ before a price increase goes into effect. Of course, the problem with the strategy is that if sales are underwhelming at the introductory price (and there has already been one price increase), what makes ILG think sales will increase as the already-exorbitant price goes higher??
5. If you don't take the deal that day, you wouldn't see it again. Verdict: Lie. I guarantee you that if you called the lying weasel and told her you've changed your mind and want to purchase, there's no way she would turn down a sale by not giving you the same price.

Thanks for sharing your experience with us, and congratulations for not caving in to the high pressure and misleading sales tactics.

 

[Kal]

So now we have the "official roll-out" of the Portfolio Program. Rather than a major new program, it's just a "New Reservation Exchange Option". Owners get a number of new options including staying up to 30 days. Hyatt would love to hear from you to talk about your travel dreams.

Hmmmm, they forgot to mention the modest fee is as low as $12,000 and higher Maintenance Fees.

Operators are standing by.

 

[scsu_hockey_fan]

So now we have the "official roll-out" of the Portfolio Program. Rather than a major new program, it's just a "New Reservation Exchange Option". Owners get a number of new options including staying up to 30 days. Hyatt would love to hear from you to talk about your travel dreams.

Hmmmm, they forgot to mention the modest fee is as low as $12,000 and higher Maintenance Fees.

Operators are standing by.

I think more details and questions are still unanswered and i guess time will tell? I wonder if the $12,000 allows you access to the Portfolio BEFORE the 6 month mark? I would have to guess the new reservation option which is at/after the 6 month mark would be a smaller fee if not complimentary? I believe this may be just the foundation and everyone (both systems) may have access to the shared properties at the 6 month mark? And when they add new resorts to the Portfolio that is what you might be paying for? As well as access prior to 6 month mark? along with a longer life on your points? Who knows for sure.... time will tell.... I could see some potential legal issues if it didn't go both ways with regards to access to each other's inventories at the 6th month mark.