• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 26 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $16,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $16 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Anyone here with experience on Hyatt Residence Club - points system?

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Hey everyone, I’m New to this group. Just closed on HRC and bought 1,100 points annually with a yearly maintenance fees of $1.3k for $20k with 2,000 bonus points.

A couple of questions...
- biggest concern was the annual MF... but was told that if we don’t travel in that year, we don’t have to pay it. Is that true? I can’t find it written down anywhere in the closing contracts.
- points that don’t expire. Been reading some threads here about points expiring. Again, was told that the HRC points do not expire. Can anyone here confirm this?
- booking travel - told that I can do it through Interval, Hyatt and Marriott and points are the same... no need the hassle of transferring points or anything like that.

Hoping I’ve made the right decision. Clearly a lot of negative press around timeshare but I do realize that they are all different.
 

sjsharkie

TUG Member
Joined
Dec 26, 2012
Messages
2,123
Reaction score
308
Points
193
Hey everyone, I’m New to this group. Just closed on HRC and bought 1,100 points annually with a yearly maintenance fees of $1.3k for $20k with 2,000 bonus points.
1. That is not a good deal. If you are in the rescind period, you should rescind now. Follow the instructions in your sales materials and do it today. For under $10k, you could buy diamond at Pinon Pointe for example yielding you
2,200 points annually for under $1.3k in mf.

2. If not, then make the best of it and head over to the Hyatt forum for answers to the rest of your questions.

Ryan

Sent from my SM-G781U using Tapatalk
 

sjsharkie

TUG Member
Joined
Dec 26, 2012
Messages
2,123
Reaction score
308
Points
193
On your other questions, maintenance fees are due on an annual interval every year no matter what. Points do expire at some point though you should read through the forum sticky to see their progression through different stages in Hyatt. Finally, you can trade internally within Hyatt or externally in Interval - both have fees and will require more reading for you to understand how they work.

Sent from my SM-G781U using Tapatalk
 

echino

TUG Member
Joined
Dec 2, 2008
Messages
1,118
Reaction score
753
Points
324
Location
Vancouver
Resorts Owned
Hyatt Piñon Pointe
Hyatt Coconut Plantation
Hyatt Windward Pointe
Harborside at Atlantis
Westin Ka'anapali
Westin St. John
Westin Kierland
Westin Lagunamar
Marriott Canyon Villas
Marriott Grand Chateau
Marriott St. Kitts
Marriott Ko Olina
Hey everyone, I’m New to this group. Just closed on HRC and bought 1,100 points annually with a yearly maintenance fees of $1.3k for $20k with 2,000 bonus points.

A couple of questions...
- biggest concern was the annual MF... but was told that if we don’t travel in that year, we don’t have to pay it. Is that true? I can’t find it written down anywhere in the closing contracts.
- points that don’t expire. Been reading some threads here about points expiring. Again, was told that the HRC points do not expire. Can anyone here confirm this?
- booking travel - told that I can do it through Interval, Hyatt and Marriott and points are the same... no need the hassle of transferring points or anything like that.

Hoping I’ve made the right decision. Clearly a lot of negative press around timeshare but I do realize that they are all different.
When did you sign? If you are still within the rescission period, cancel immediately!

What you bought has zero resale value. The three things you were told are all lies. You have an obligation to pay full fees every year, regardless of anything, and fees go up every year. Points do expire. And points are not the same for Hyatt/Marriott.
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
When did you sign? If you are still within the rescission period, cancel immediately!

What you bought has zero resale value. The three things you were told are all lies. You have an obligation to pay full fees every year, regardless of anything, and fees go up every year. Points do expire. And points are not the same for Hyatt/Marriott.
Ughhh. That’s utterly what I’m afraid of and this is my first time attending one of these sales presentations. I should have been more prepared but all the info that I found were either for some other TS or somewhat old. Glad I found TUG and thanks for the prompt response!
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
I signed just yesterday and I think I have 10 days to cancel. I’ll do it tomorrow when I’m checking out of the property. Looks like I have to do it in writing as well.
 

TheHolleys87

TUG Member
Joined
May 7, 2015
Messages
744
Reaction score
459
Points
173
Location
Texas
Resorts Owned
DVC Boardwalk Villas, Kona Coast II
I signed just yesterday and I think I have 10 days to cancel. I’ll do it tomorrow when I’m checking out of the property. Looks like I have to do it in writing as well.
Don’t even mention rescission when checking out. Write the letter tonight, make sure everyone who signed the contract signed the letter, and mail it USPS certified mail to the address specified in your contract. Follow the instructions in the contract to the letter. If you say anything when checking out, they’ll probably try to talk you out of rescinding and may even lie to you again and tell you you’ve rescinded when you haven’t.
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
1. That is not a good deal. If you are in the rescind period, you should rescind now. Follow the instructions in your sales materials and do it today. For under $10k, you could buy diamond at Pinon Pointe for example yielding you
2,200 points annually for under $1.3k in mf.

2. If not, then make the best of it and head over to the Hyatt forum for answers to the rest of your questions.

Ryan

Sent from my SM-G781U using Tapatalk
Thanks. I was honestly under the impression that it’s a great deal. It was originally quoted as 29k and down to 20k coz I am a World Hyatt member... I was just told that I’ll get all the details in the mail in 30days. Which is well over the rescind period. I’ll take ya’ll advice and cancel... thanks!
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Don’t even mention rescission when checking out. Write the letter tonight, make sure everyone who signed the contract signed the letter, and mail it USPS certified mail to the address specified in your contract. Follow the instructions in the contract to the letter. If you say anything when checking out, they’ll probably try to talk you out of rescinding and may even lie to you again and tell you you’ve rescinded when you haven’t.
Noted! Ughhh. I spent 4hrs at the sales presentation. Can’t imagine having to go through it again. Thanks for the tip.
 

TheHolleys87

TUG Member
Joined
May 7, 2015
Messages
744
Reaction score
459
Points
173
Location
Texas
Resorts Owned
DVC Boardwalk Villas, Kona Coast II
Noted! Ughhh. I spent 4hrs at the sales presentation. Can’t imagine having to go through it again. Thanks for the tip.
Fortunately, Hyatt is a well-respected TS company, so I don’t think you’ll have trouble finding the rescission instructions in your paperwork. If you do, ask here - lots of experience in TUG!
 

Iggyearl

TUG Member
Joined
Dec 26, 2014
Messages
662
Reaction score
736
Points
203
Location
Ballston Lake, NY
Watlar, you are the textbook case for a new owner finding Tug in time. ;) If you scan your contract, you will find a "verbal representation" clause. It states that you did not use any verbal statements from the salespeople in order to form an opinion to buy the timeshare. In other words, you cannot believe all that you were told. Regarding costs, most public timeshare companies financially report that 50% of their cost of goods sold is tied up in sales overhead, staff, premiums, and commissions. The depreciation of the product is amazing. Once you've rescinded you can gather all the info on timeshares on this site. You can then form your own opinion as to whether the industry is for you. And remember, you did not buy a timeshare. You were sold a timeshare. Congrats on finding this site.:clap:
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Watlar, you are the textbook case for a new owner finding Tug in time. ;) If you scan your contract, you will find a "verbal representation" clause. It states that you did not use any verbal statements from the salespeople in order to form an opinion to buy the timeshare. In other words, you cannot believe all that you were told. Regarding costs, most public timeshare companies financially report that 50% of their cost of goods sold is tied up in sales overhead, staff, premiums, and commissions. The depreciation of the product is amazing. Once you've rescinded you can gather all the info on timeshares on this site. You can then form your own opinion as to whether the industry is for you. And remember, you did not buy a timeshare. You were sold a timeshare. Congrats on finding this site.:clap:
Yes and I’m glad that this vacation was mostly one that we just stayed in the room (cause we just had to get out of the house) and I didn’t have lots to do, hence a lot of free time to do some research on what I just signed up for. I’ve definitely learned a lot just from reading some other posts here. Thanks!
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Watlar, you are the textbook case for a new owner finding Tug in time. ;) If you scan your contract, you will find a "verbal representation" clause. It states that you did not use any verbal statements from the salespeople in order to form an opinion to buy the timeshare. In other words, you cannot believe all that you were told. Regarding costs, most public timeshare companies financially report that 50% of their cost of goods sold is tied up in sales overhead, staff, premiums, and commissions. The depreciation of the product is amazing. Once you've rescinded you can gather all the info on timeshares on this site. You can then form your own opinion as to whether the industry is for you. And remember, you did not buy a timeshare. You were sold a timeshare. Congrats on finding this site.:clap:
Yup - you are absolutely right. Found that clause where we’ve initialed next to it without really reading it - it says “I acknowledge that I am not relying on any oral agreements or promises in making my decision to buy my VOI”.
Also, as mentioned, I can’t find anywhere in the documents that the maintenance fees are waived when I don’t travel but it did mention clearly that the annual MF are my responsibility and they can deny my stay if I don’t pay it. Ughh...

All these fine prints and unknowns is what drove me to do some more research about what I signed up for....
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Just a quick update - just posted the cancellation letter with certified mail and a return receipt. It is within the rescission period but the letter is only expected to arrive by this Friday. I read that as long as you’ve sent it before the cancellation period ends, you’re okay right? My wife asked why didn’t I just expedite it as overnight, it is currently just sent as First Class Mail - I wasn’t thinking again while at the post office. Anyway, I assured her that the mail receipt is proof enough. Will update again when I get all of the official cancellation notice and deposits refund.

$15 on TUG and the $7 certified mail postage felt like the best money spent today and this past weekend
 

TheHolleys87

TUG Member
Joined
May 7, 2015
Messages
744
Reaction score
459
Points
173
Location
Texas
Resorts Owned
DVC Boardwalk Villas, Kona Coast II
Just a quick update - just posted the cancellation letter with certified mail and a return receipt. It is within the rescission period but the letter is only expected to arrive by this Friday. I read that as long as you’ve sent it before the cancellation period ends, you’re okay right? My wife asked why didn’t I just expedite it as overnight, it is currently just sent as First Class Mail - I wasn’t thinking again while at the post office. Anyway, I assured her that the mail receipt is proof enough. Will update again when I get all of the official cancellation notice and deposits refund.

$15 on TUG and the $7 certified mail postage felt like the best money spent today and this past weekend
Yes, the important date is when you mailed it. When the company receives it doesn't matter.

Welcome to TUG!
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
Reading though the nightmares of others on the BBB review site, we (wife and I) are having major anxiety right now and have decided to send another copy of the cancellation notice tomorrow through Priority Express mail and hope it gets there sooner (or just in case the first notice gets lost in the mail?!?)... Eeeek!

 

amycurl

TUG Member
Joined
Sep 26, 2011
Messages
2,119
Reaction score
1,673
Points
274
Location
Greensboro, NC
All that matters is if you followed the instruction, and have proof of postmark by the rescission date. You’re fine. Now go read the stickies on this forum and figure out what attracted you enough to buy, and how you can do that via resale. Tagging @Grammarhero to add this to their thread...


Sent from my iPad using Tapatalk
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
All that matters is if you followed the instruction, and have proof of postmark by the rescission date. You’re fine. Now go read the stickies on this forum and figure out what attracted you enough to buy, and how you can do that via resale. Tagging @Grammarhero to add this to their thread...


Sent from my iPad using Tapatalk
Thanks for the feedback - it is a little reassuring to hear that. Wife is still paranoid about maybe the mail will get lost, so I guess I’ll be making another trip to the post office tomorrow.

What drove us initially to purchase was all the “good” things about being able to own and go on a vacation using only points and not having to pay exorbitant fees and “rent”. Also, this will be a long term investment that we’ll be able to pass on to our kids. He also made it sound like it was very easy to book for travel when we want to and will walk us through the process when we get our logins and materials in the mail (in about 30days).

Finding TUG made me realized I didn’t get a good deal and reading other reviews on BBB confirmed that the sales guy blatantly lied to us. This experience is really leaving a bad taste for me not just in timeshare but my view of Hyatt as a brand. I was a Globalist till COVID and no longer travel enough to maintain status but has always thought highly of Hyatt.
 

T-Dot-Traveller

TUG Member
Joined
Jun 10, 2015
Messages
3,072
Reaction score
1,877
Points
298
Location
Canada
Resorts Owned
Mayan Palace Regency
Taranova
Finding TUG made me realized I didn’t get a good deal and reading other reviews on BBB confirmed that the sales guy blatantly lied to us. This experience is really leaving a bad taste for me not just in timeshare but my view of Hyatt as a brand. I was a Globalist till COVID and no longer travel enough to maintain status but has always thought highly of Hyatt.
Welcome to TUG

Read & learn on TUG+-Buy resale= go enjoy the resorts .

[Timeshare sales tactics have nothing to do with the above ]
 

Mongoose

TUG Member
Joined
Mar 15, 2012
Messages
422
Reaction score
190
Points
153
Location
Colorado
Resorts Owned
Hyatt Pinon Pointe, Marriott Harbour Lake, Holiday Inn Club Vacations - South Beach, Worldmark
Hey everyone, I’m New to this group. Just closed on HRC and bought 1,100 points annually with a yearly maintenance fees of $1.3k for $20k with 2,000 bonus points.

A couple of questions...
- biggest concern was the annual MF... but was told that if we don’t travel in that year, we don’t have to pay it. Is that true? I can’t find it written down anywhere in the closing contracts.
- points that don’t expire. Been reading some threads here about points expiring. Again, was told that the HRC points do not expire. Can anyone here confirm this?
- booking travel - told that I can do it through Interval, Hyatt and Marriott and points are the same... no need the hassle of transferring points or anything like that.

Hoping I’ve made the right decision. Clearly a lot of negative press around timeshare but I do realize that they are all different.
In March they offered me that same deal for 16k. I declined. I purchased 1400 points for $1 with $1200 in MF. Buy resale.


Sent from my iPad using Tapatalk
 

watlar

TUG Member
Joined
May 1, 2021
Messages
11
Reaction score
9
Points
53
In March they offered me that same deal for 16k. I declined. I purchased 1400 points for $1 with $1200 in MF. Buy resale.

Sent from my iPad using Tapatalk
Woahhhh - We'd be totally beating ourselves if we've not found TUG in time and cancel and only learning about this after the fact.
Still a little unnerving that we almost signed ourselves up for something like that without fully understanding what's involved especially when we really thought that we got a good deal initially.
Thanks!
 
Top