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Comments on MVC Meeting with Sunset Harbor Owners 6/22/22

dbmarch

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Resorts Owned
Hyatt Sunset Harbor
Hyatt Windward Pointe
I don't recall getting anything to vote. I heard people already voted. How do I vote?
 

dbmarch

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Hyatt Sunset Harbor
Hyatt Windward Pointe
They were very careful how they answered the questions. The presentation is being made available. We learned they have approx 150 weeks in the points program. They claim it doesn't dilute the trading pool but it was obvious that it does based on how they answered. Their pitch is that if you like to use your week you can do that. If you like to trade their new program is the future. On other words trading using the old system will continue to get more challenging.
 

alameda94501

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They were very careful how they answered the questions. The presentation is being made available. We learned they have approx 150 weeks in the points program. They claim it doesn't dilute the trading pool but it was obvious that it does based on how they answered. Their pitch is that if you like to use your week you can do that. If you like to trade their new program is the future. On other words trading using the old system will continue to get more challenging.
Portfolio is interesting in a diabolical way. Legacy owners feel its presence since we no longer have access to the pre-2017 unsold inventory that was burning a hole in the Developer's product. But strictly speaking, whether it was sold to Hyatt Portfolio or to an individual, we never had any right to it anyway - it was just a nice bonus while it lasted.

But with the annual conversion, their modest program has attracted at least six or seven thousand legacy "hybrid" owners who give up their unit-weeks to the Portfolio on an annual basis. Those folks then reduce our trading pool even more.

And over time, like you said - trading on legacy alone will get more challenging as more hybrid owners sign up.
 

Kal

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Portfolio is interesting in a diabolical way. Legacy owners feel its presence since we no longer have access to the pre-2017 unsold inventory that was burning a hole in the Developer's product. But strictly speaking, whether it was sold to Hyatt Portfolio or to an individual, we never had any right to it anyway - it was just a nice bonus while it lasted.

But with the annual conversion, their modest program has attracted at least six or seven thousand legacy "hybrid" owners who give up their unit-weeks to the Portfolio on an annual basis. Those folks then reduce our trading pool even more.

And over time, like you said - trading on legacy alone will get more challenging as more hybrid owners sign up.
Everything being equal (which isn't the case with MVC) the trading program will continue. However, Portfolio has their thumb on the scale thru "priority", function of the request list, restrictions on booking HRC units dumped into Portfolio, and destruction of 7 day occupancy with the addition of small incremental stays. The high Portfolio cost of saturday stays further messes up the occupancy.
 

SteveinHNL

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Everything being equal (which isn't the case with MVC) the trading program will continue. However, Portfolio has their thumb on the scale thru "priority", function of the request list, restrictions on booking HRC units dumped into Portfolio, and destruction of 7 day occupancy with the addition of small incremental stays. The high Portfolio cost of saturday stays further messes up the occupancy.
I wonder if Marriott/Hyatt's erosion of HRC legacy owners' benefits constitutes a breach of the covenant of good faith and fair dealing that is inherent in every contract. I feel like it would.
 

Kal

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I doubt very seriously that the contract includes anything that will benefit the owners, other than you have a deed and you pay M/Fs. Remember these resorts were put together by timeshare hucksters. They can try to rub off the spots but they all are still hucksters. They claim to "improve the owner's experience" e.g. Portfolio. That's just another way to extract more money and in the extreme case, do not provide deeded property ownership. Right now the goal is to chase away deeded owners by decreasing availability and increasing M/F.
 
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