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Need some advice on exit strategy for HPP

Discussion in 'Hyatt Residence Club' started by Mikedk, Feb 7, 2019.

  1. Mikedk

    Mikedk Guest

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    Hello,
    I am one of the fools who bought into the HPP sales pitch in Key West a little over a year ago. While I have always wanted to get a timeshare in Sunset Harbor, the traditional week ownership structure did not work for us because my wife is a teacher and this was for her Spring Break which is a different week every year. The points program seemed perfect and we bought into all the lies told us by the sales team regarding plenty of inventory and new resorts coming online in Old Town, they even pulled up fake reservation availability pages to should us how easy it would be to book. Well as you can guess, no availability for this year and again I tried for 2020 and nothing for next year. A total scam. I have no option but to roll over my points and then watch them expire all while paying MF.

    Does anyone have any advice on how to get out and or what happens if I just stop paying the MF next year and also what if anything will happen with the Marriott acquisition? Any advice would be helpful.

    Mike
     
  2. Sapper

    Sapper Tug Review Crew: Rookie TUG Member

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    Hi Mike,

    Sorry to hear about your situation.

    The best thing to do might be to figure out how to make the points work for you. For example, while Sunset has a very limited number of units in the HPP, Windward Pointe has significantly more. While not in Old Town, it's still Key West. Not ideal, but better than allowing the points to expire.

    Might you have any interest in the other properties in HPP? I understand this is not why you purchased into the program, but better to use the points somewhere than to allow them to expire.

    There has also been discussion of rental. Not 100% sure about the rules, you might want to read through your paperwork. It might take some work on your part, but then at least your maintenance fees would be covered.

    Last is selling the points. Because the HPP is so new to market, I have not seen enough of the HPP resale to be of much help. Hopefully someone else will help out here.
     
  3. Kal

    Kal TUG Member

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    This is a first where an HPP owner is looking at the end game. As in the case with all time share ownership, the first thought is to sell the position. The HRC program at Sunset Harbor is based on holding a tangible deeded property which can be bought or sold on the resale market. However, with the HPP you only own points which can only be sold to one entity - "The Trust Developer". As you may note in your HPP contract, Hyatt has the option to purchase your points...at a price determined by the Trust Developer.

    In all consideration, there is an abundance of unsold HPP points, so Hyatt might not be willing to entertain an option to buy back your points. IF they do, their price will likely be severely discounted.

    If you stop paying MF, you would face foreclosure, collection agency and negative impact on your credit report.
     
  4. lizap

    lizap TUG Member

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    This is, unfortunately, an example of what many here predicted would happen..
     
  5. scsu_hockey_fan

    scsu_hockey_fan TUG Member

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    Have you tried using the wait list?
     
  6. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    There are amazing trading opportunities in Hyatt internally and in interval. It takes time to know the system so don't give up. For spring break this year we have a week at Westin Princeville (an Interval trade) followed by a week at Hyatt Kaanapali. We have stayed at almost all the Hyatts with internal trades and with interval at places such as Westin Lagunamar in Cancun, top Marriotts in Florida, and Hawaii. Read through all the stickies here, try the wait list for sure and check often. Best of luck whatever you decide.
     
    Sugarcubesea, taffy19 and Sapper like this.
  7. Mikedk

    Mikedk Guest

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    Thank you, We are on the wait list. Unfortunately, we only want to be in Key West, we travel all over the world throughout the year, and none of them to resorts as we want to explore and see the world. This is just my wife's spring break relaxing time. From what I have been told by the HRC office, there will never be any availability for me as even if they had a week in the inventory, they would not break it up for me to use and I don't have enough points for a whole week. The A-H***s in sales lied to me at every turn. I will visit them on my next trip down, but they won't be happy to see me.
     
  8. Mikedk

    Mikedk Guest

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    Thanks,
    Thank you, We are on the wait list. Unfortunately, we only want to be in Key West, we travel all over the world throughout the year, and none of them to resorts as we want to explore and see the world. This is just my wife's spring break relaxing time. From what I have been told by the HRC office, there will never be any availability for me as even if they had a week in the inventory, they would not break it up for me to use and I don't have enough points for a whole week. The A-H***s in sales lied to me at every turn. I will visit them on my next trip down, but they won't be happy to see me.
     
  9. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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  10. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    Sorry that happened to you. You should be able to get in at Winward Pointe or Beach House at least and we have even gotten 4 days in Sunset Harbor in Feb one year. You could even pick up a cheap resale trader week to get extra points so you could reserve a full week.
     
  11. SunandFun83

    SunandFun83 TUG Review Crew: Veteran TUG Member

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    This might be the place to ask about HPP point resales. I saw several listed at another web site. How do reservation privileges pass in the resale market for HPP points. I expect that the right to convert to Hyatt hotel points does not pass in resale. That privilege does not pass for deeded weeks either.

    If I buy HPP points, do I have full rights to reserve and waitlist HPP inventory?

    At Marriott, the points maintenance fees are climbing twice as fast as the weeks maintenance fees. That has to do with Marriott using ROFR on Silver and Gold weeks with a high MF/Point ratio. How are the MF's are HPP and how has the trend been?

    Thanks for sharing.

    David
     
  12. breezez

    breezez TUG Member

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    Not saying I’m right, but I am under the impression that HPP points can only be resold back to Hyatt in the contract language they are bought under.... Meaning little to no resell value.

    Sales Weasle tried doing a upside down drawing showing how even if Hyatt only gives you 75% back.... I said show me where they guarantee a price he said they have never had anyone try to get rid of them... Yip his lips were moving.
     
  13. SunandFun83

    SunandFun83 TUG Review Crew: Veteran TUG Member

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    Easiest advice: Become a member here at TUG. The Forums is free. Full TUG is like $15. If you read here and learn, you will save tens of thousands.

    Who knows, someone might email you to talk about buying your HPP points (I tried) but, you are not even thinking ahead to become a member.
     
  14. bdurstta

    bdurstta TUG Member

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    You mentioned here that Marriott week and Marriott points maintenance fees are different? I own Marriott too and did not know that.
     
  15. dahntahn

    dahntahn TUG Member

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    You are able to convert your HPP points to Hyatt Hotel points which never expire and can be used to reserve Hyatt hotels anywhere, rather than lose them altogether. Not a great option, but significantly better than just expiring.
     
  16. dahntahn

    dahntahn TUG Member

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    You might consider trying to reserve at Coconut Plantation, which is in tropical Florida, has a tremendous pool system, is close to many outstanding restaurants, and has completed a new building which can only go to HPP owners, so availability should be much better. Plus there is another new bldg under construction. We have been to all the Key West resorts and do love SSH, but Coconut remains our favorite.
     
    Tucsonadventurer likes this.
  17. skimeup

    skimeup TUG Review Crew: Veteran TUG Member

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    Not sure if this will help but I just purchased Hyatt Carmel and while I'm a pretty seasoned timesharer, I didn't fully understand all the points sytem even though I read the wonderful explanations written by Ky (sp?). Anyhow, suddenly my brother and sil decided we should do a family thing and go to Key West. I didn't have the full points for that and anyhow the week was not available. So here is what I did. I converted the week I had into CUP points which then became whatever happens after CUP. I converted my next week into points. I took advantage of the World of Hyatt discount and reserved the eight days I wanted at the Hyatt Beach House (Sunset Harbor unavailable and I liked that the Beach House had - guess what - a beach! Then I went online most days to the Hyatt Residence Club and started checking days for Beach House. And they came up pretty regularly. Three days here; two days there; two more days here. I ended up with paying only for the 8th day. Also, one has to cancel a reservation within fourteen days or lose two days deposit but I called and discussed spending points instead of money and they allowed me to cancel without losing my money. Now that was a fair amount of work and time, obviously but I saved a lot of money by using my timeshare points. Not only that, but I was able to deposit points and get a week at the Boston Custom House and had a phenomenal time. (In February but it wasn't so cold and anyhow, I grew up in the area so it didn't seem to bad). I still had enough points to get a full week in Sedona in a studio in December, where it is admittedly cold but there are wonderful holiday displays and good hiking weather. And I now still have points in II to use to go somewhere else - just not sure where, but I have enough timeshare points to deposit coming up that I have no doubt wonderful things will emerge!!! So I think I am starting to understand the Hyatt points thing but it is hard to wrap my mind around still. However, getting three good weeks out of two weeks worth of points with some deposits in II left over seems to be a good start.

    I only bought the 1880 point level but I picked it up for almost nothing so no complaints about that. And I'm sure glad I read and understood the difference between the old weeks ownership and the new HPP ownership. Once again learning a LOT from TUG!!!!
     
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