With the Maria damage to PR and Hacienda del Mar being significantly more than that experienced with Irma in FL, Hacienda del Mar is closed until Feb 28, 2018. Would not be surprised if a future update moved that out farther.
Since the Hyatt forum doesn't have a dedicated moderator, there is no guaranty that a mod will ever see this message. Your best bet to get this moved it to send a private message directly to a moderator requesting the move.Mods...would you consider moving this particular question to the Hyatt Residence Portfolio thread as it won't get a lot of traction on the Puerto Rico thread, which is related to the effects of the hurricane?
Mods...would you consider moving this particular question to the Hyatt Residence Portfolio thread as it won't get a lot of traction on the Puerto Rico thread, which is related to the effects of the hurricane?
To Andy's questions:
Read the stickies on the Hyatt system at the top of the Hyatt Forum to get a good understanding of how the Hyatt system works.
- It is reasonably easy to transfer to most other resorts within the HRC system as long as you have flexibility on time of year and season (which you do). Remember that most availability comes 6 months prior to your requested date(s), as that is when the Home Resort Preference Period for owners expires, and they then must either activate their fixed week or give it up for internal trade. That is when the points attached to your ownership will also activate to allow you to trade internally.
- Maui is extremely difficult, made even more difficult by a recent referendum passed by Hyatt Ka'anapali owners. It's not impossible, but much more difficult to trade into than Westin Hawaii resorts through ownership in a mandatory resort like Westin Kierland Village in Arizona.
- Your last question relates to the new Hyatt Residence Portfolio system, which is being slowly introduced to prospective new owners like yourself. I advise you to spend a lot of time on this BBS reading the HRP thread as well as a sister thread entitled "Hyatt Pure Points". You will find that TUG members who own within the Hyatt Residence Club (separate and distinct from HRP) believe that HRC is a significantly better value and that there is speculation that Hyatt is having a hard time selling the new HRP due to higher maintenance fees and lack of a deed to any actual property, with no Home Resort preference.
- Your final question about Hyatt Hacienda Del Mar (Puerto Rico) is, as I understand it, basically asking if this property is good internal trader. The answer is no. Much better to buy at Hyatt Pinon Pointe, which has the lowest annual MF's in the Hyatt system and use it to trade internally. In addition, there is a real concern that the Puerto Rico property may be asking its owners to pay a special assessment to fund repairs after Hurricane Irma.
I appreciate all the info. I’ve read the stickies and have read up on everything pretty thoroughly. Even being a timeshare owner for several years, the HRC system is pretty confusing (in comparison to DVC at least). HPP is certainly more straightforward and easy to sell- but when you dig deep into it, it’s an incredibly flawed system. No way I’d buy into it.
As for PR- the only reason I’m considering it is because I might be able to get a diamond for nothing. But @ $1600MF, it still might be a bad buy.
It truly feels like a gamble right now. Is HPP going to succeed simply due to attrition which will make HRC dimenish on trade front (which is what I’d want)- and no one knows that answer. I suppose a “free” PR contract might be as safe a gamble as possible- unless I can’t offload it :/
Under "normal" conditions, PR is a difficult situation. The adjacent hotel property has been closed for many years and this harms the PR setting. In addition, a purchase transaction requires a PR attorney involvement and a long process to close the deal. Now under the "current" situation, we don't know the specifics on insurance deductible but Hyatt often has a very high deduct to maintain lower premiums. So it could be a situation where those funds are taken from the reserve account, but that doesn't pencil out as that money is for resort replacements. Pay me now, or pay me later. Therefore, the likely outcome is a special assessment. Besides, the MFs are already high. My guess is Hyatt would not take a resale on ROFR. That's the last thing they need is unsold PR inventory.I appreciate all the info. I’ve read the stickies and have read up on everything pretty thoroughly. Even being a timeshare owner for several years, the HRC system is pretty confusing (in comparison to DVC at least). HPP is certainly more straightforward and easy to sell- but when you dig deep into it, it’s an incredibly flawed system. No way I’d buy into it.
As for PR- the only reason I’m considering it is because I might be able to get a diamond for nothing. But @ $1600MF, it still might be a bad buy.
It truly feels like a gamble right now. Is HPP going to succeed simply due to attrition which will make HRC dimenish on trade front (which is what I’d want)- and no one knows that answer. I suppose a “free” PR contract might be as safe a gamble as possible- unless I can’t offload it :/
Under "normal" conditions, PR is a difficult situation. The adjacent hotel property has been closed for many years and this harms the PR setting. In addition, a purchase transaction requires a PR attorney involvement and a long process to close the deal. Now under the "current" situation, we don't know the specifics on insurance deductible but Hyatt often has a very high deduct to maintain lower premiums. So it could be a situation where those funds are taken from the reserve account, but that doesn't pencil out as that money is for resort replacements. Pay me now, or pay me later. Therefore, the likely outcome is a special assessment. Besides, the MFs are already high. My guess is Hyatt would not take a resale on ROFR. That's the last thing they need is unsold PR inventory.
IF I could get a unit for ZERO dollars, I would definitely spend those ZERO dollars on anything else but PR. I'll take the FREE LUNCH, thank you.
Kal - TANSTAAFL - There ain't' no such thing as a free lunch. (R A. heinlein).Under "normal" conditions, PR is a difficult situation. The adjacent hotel property has been closed for many years and this harms the PR setting. In addition, a purchase transaction requires a PR attorney involvement and a long process to close the deal. Now under the "current" situation, we don't know the specifics on insurance deductible but Hyatt often has a very high deduct to maintain lower premiums. So it could be a situation where those funds are taken from the reserve account, but that doesn't pencil out as that money is for resort replacements. Pay me now, or pay me later. Therefore, the likely outcome is a special assessment. Besides, the MFs are already high. My guess is Hyatt would not take a resale on ROFR. That's the last thing they need is unsold PR inventory.
IF I could get a unit for ZERO dollars, I would definitely spend those ZERO dollars on anything else but PR. I'll take the FREE LUNCH, thank you.
Kal - TANSTAAFL - There ain't' no such thing as a free lunch. (R A. heinlein).
I’m a DVC member and own at three resorts. This Hyatt program, yikes- much harder to wrap my head around.What I like about DVC is the simplicity, clearly, the new program is trying to do that- but I have serious reservations about its long term viability by not allowing existing members to convert.
All that roundabout talk to say, I just had my presentation this morning and am staying at Wild Oak ranch- Love the Resort and I’m interested in buying.
My criteria is as follows:
-I can travel at any time and don’t need a particular season
-I need to be able to book Maui or exchange into somewhere in Hawaii- again- I don’t need a particular season. The reason is I will “rent” the room back to my company for business expenses. A 1BR or studio is more than sufficient.
We are studio people, and with DVC- I bought with the sole purpose to rent 100-150 and use the other 100. That allowed me to go for “free” as it covered my maintenance costs.
*How easy is it to transfer into other resorts?
*How easy is it to book Maui off-season if it’s not my home resort?
.
Mods...would you consider moving this particular question to the Hyatt Residence Portfolio thread as it won't get a lot of traction on the Puerto Rico thread, which is related to the effects of the hurricane?
To Andy's questions:
Read the stickies on the Hyatt system at the top of the Hyatt Forum to get a good understanding of how the Hyatt system works.
- It is reasonably easy to transfer to most other resorts within the HRC system as long as you have flexibility on time of year and season (which you do). Remember that most availability comes 6 months prior to your requested date(s), as that is when the Home Resort Preference Period for owners expires, and they then must either activate their fixed week or give it up for internal trade. That is when the points attached to your ownership will also activate to allow you to trade internally.
- Maui is extremely difficult, made even more difficult by a recent referendum passed by Hyatt Ka'anapali owners. It's not impossible, but much more difficult to trade into than Westin Hawaii resorts through ownership in a mandatory resort like Westin Kierland Village in Arizona.
- Your last question relates to the new Hyatt Residence Portfolio system, which is being slowly introduced to prospective new owners like yourself. I advise you to spend a lot of time on this BBS reading the HRP thread as well as a sister thread entitled "Hyatt Pure Points". You will find that TUG members who own within the Hyatt Residence Club (separate and distinct from HRP) believe that HRC is a significantly better value and that there is speculation that Hyatt is having a hard time selling the new HRP due to higher maintenance fees and lack of a deed to any actual property, with no Home Resort preference.
- Your final question about Hyatt Hacienda Del Mar (Puerto Rico) is, as I understand it, basically asking if this property is good internal trader. The answer is no. Much better to buy at Hyatt Pinon Pointe, which has the lowest annual MF's in the Hyatt system and use it to trade internally. In addition, there is a real concern that the Puerto Rico property may be asking its owners to pay a special assessment to fund repairs after Hurricane Irma.
Yes, Hyatt Residence Club points are points, and can be used throughout the HRC system. In that sense, your objection to my Point #4 is correct in that whether you own at Del Mar, Pinon Pointe, or any other HRC property, your ability to trade within the HRC system is the same. However, since Pinon Pointe's MF's are the lowest in the HRC system, the best internal "trader"--if you want to call it that--would be Pinon Pointe. This particular discussion string started with questions from a non-owner who was asking primarily about how to trade within HRC, and that is why I recommended Pinon Pointe.
As with any system, however, I also agree with your main premise: buy what you really like first and foremost. I happen to really like Pinon Pointe and Carmel Highlands, and that's why I own there.
Regarding Ka'anapali, please refer to this thread, which details efforts to stop what turned out to be a favorable vote to allow Hyatt/ILG to re-classify 33 unsold units at Ka'anapali, and therefore making it much more difficult to trade into that property (and that was only one of the many impacts).
Finally, with regard to Del Mar, you say that it is unlikely that a special assessment will be due after the hurricane damage is cleaned up and repaired because "damages don't amount to very much". That would be great news if it is correct.