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

[watlar]

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]

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

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[sjsharkie]

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.

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[echino]

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]

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]

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]

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]

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]

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]

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]

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.

 

[watlar]

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.

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]

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.

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]

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]

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]

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!

HV Global Group, Inc. | Complaints | Better Business Bureau® Profile

View customer complaints of HV Global Group, Inc., BBB helps resolve disputes with the services or products a business provides.

www.bbb.org

 

[amycurl]

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...


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[watlar]

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...


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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]

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]

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.


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[watlar]

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!

 

[watlar]

Woo hoo! Just a quick update - got the deposit refund today back into our CC and last week, the sales guy called back and he asked what was the reason that we cancelled.

When I told him that what he said was different than what I read and signed on the contract - he said that it’s just the old contract and it didn’t apply to me. If I had called them, I’d been told that it won’t apply to what I’ve signed up for. I politely said that we’ve made up our mind because what is written in the contract that we legally signed contradicts with his statements and said our thanks for his time. Phew!

Thanks TUG members for the prompt feedback and responses. Definitely dodged a bullet there!

PS: I did end up sending another cancellation letter through Priority Mail Express that costs $26 and it arrived the next day. As for the first “Certified” First Class Mail sent the day before, it’s still making its way to the destination…

 

[CPNY]

Priority Express mail and hope it gets there sooner (or just in case the first notice gets lost in the mail?!?)... Eeeek!

HV Global Group, Inc. | Complaints | Better Business Bureau® Profile

View customer complaints of HV Global Group, Inc., BBB helps resolve disputes with the services or products a business provides.

www.bbb.org

This is why it’s recommended to sent it certified with proof of postmark and delivery confirmation.

 

[CPNY]

Woo hoo! Just a quick update - got the deposit refund today back into our CC and last week, the sales guy called back and he asked what was the reason that we cancelled.

When I told him that what he said was different than what I read and signed on the contract - he said that it’s just the old contract and it didn’t apply to me. If I had called them, I’d been told that it won’t apply to what I’ve signed up for. I politely said that we’ve made up our mind because what is written in the contract that we legally signed contradicts with his statements and said our thanks for his time. Phew!

Thanks TUG members for the prompt feedback and responses. Definitely dodged a bullet there!

PS: I did end up sending another cancellation letter through Priority Mail Express that costs $26 and it arrived the next day. As for the first “Certified” First Class Mail sent the day before, it’s still making its way to the destination…

Congrats! Now buy resale!

 

[CalGalTraveler]

@watlar Congrats on finding TUG in time. Many of us didn't but we are making the best of it. Timeshares systems are great but you need to buy resale and ignore the lies by the sales peeps. Like real estate it's location, location, location (and season) so not every timeshare resort or system works.

Follow the 4Rs of successful timesharing:

Rescind (done!)
Research (learn about all the major systems to ensure you buy what fits your situation best (e.g. Hyatt, Vistana/Westin/Marriott, Hilton Grand Vacations, Disney, Worldmark). Take your time. Resale prices will not be increasing anytime soon.
Rent (try out several timeshare systems and resorts to see what you like best.)
Buy Resale (or continue to rent if resale Maintenance fees and purchase price exceed renting)


When you are ready, you can fill out a "What timeshare should I buy?" and we can better assist you on focusing on which system(s) might work best for your situation.

Congrats on saving yourself $20k