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[HPC Contract Talk] Request List, Wait List, and Reservations - HRC vs HPC

alameda94501

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This is part of a series of posts:

Click here for the Introduction Post
Click here for the HRC and HPC Inventory Post
Click here for the Annual Conversion Option Post

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

There are two pools of inventory now - an HRC pool and an HPC pool.

There are thus four cases to cover:
  1. HPC Requests/Reservations for HPC Inventory Pool
  2. HPC Requests/Reservations for HRC Inventory Pool
  3. HRC Requests/Reservations for HPC Inventory Pool
  4. HRC Requests/Reservations for HRC Inventory Pool
By an "HPC Request/Reservation" I mean that of an HPC ownership (HPC Portfolio Points) trying to request/reserve, and by an "HRC Request/Reservation" I mean that of an HRC ownership (HRC CUP) who has not executed what's called an "Annual Conversion Option" to convert their HRPP to the HPC pool temporarily for one year.

One of the trickiest things is that different HPC members get slightly different privileges depending on their Membership Tier (cf: Exhibit B - Membership Tier Level Chart)



(sorry how small print it is, you'll have to click to zoom in)

Case 1: HPC Requests/Reservations for HPC Inventory Pool
(cf: Reservation Rules and Regulations for the HPC Club Vacation Ownership Plan, Exhibit #2 to the Multisite Public Offering Statement)
(cf: Club to Club Exchange Agreement)

A. Request List (between 18mo thru 12mo) “… shall mean the list of HPC Club Owners who wish to make a reservation for use of a Vacation Period in advance of the Owner Reservation Period related to such Vacation Period.

Elite Owners (6,600+ HPC Portfolio Points) can annually request either "18 months before check in day for 1 reservation for a max of 14 nights or 2 reservations for a max 7 nights each"

Premier Owners (4,400 - 6,600 HPP) can annually request "16 months before check in for 1 reservation of maximum of 7 nights"

Executive Owners (2,200 - 4,400 HPP) can annually request "15 months before check in for 1 reservation of maximum of 7 nights

Classic Owners (0 - 2,200 HPP) can annually request "14 months before check in for 1 reservation of maximum of 7 nights"

Non-Authorized RESALE HPC Owners do not have any request list privileges.

After the special Tier-based annual request list bonus, all HPC owners have a 12 month Request List. (This will be important later)


B. Owner Reservation Period [ORP]: (12mo to 6mo prior to Check-In Day)
- “during which the HPC Club Owner must compete on a first come, first served basis with other HPC Club Owners to reserve the use of any available Vacation Periods in the HPC Club.”

There is an "HPC Fixed option" that members can additionally purchase that gives a special 12mo to 9mo fixed reservation option.

This is the equivalent of the HRPP in HCP land. No one but HPC Club members can compete for this inventory.



C. Exchange Reservation Period (6mo to 2mo) – “During the Exchange Reservation Period, HPC Club Owners and HRC Members have the voluntary right, on a first come, first served basis, to reserve the use of any available Vacation Period within the HPC Club.”

This is what you are seeing in the web site when you see Portfolio Points openings.



D. HPC Club Priority Period (2mo to Check-In Day) – “during which HPC Club Owners have only limited rights to reserve the related Accommodation within the HPC Club.”

Similar to HRC Club Priority Periods, this is how the developer snatches sales weeks and/or does maintenance, but primarily it's open for either HRC or HPC ownership.




Case 2: HPC Requests/Reservations for HRC Inventory Pool

(cf: Reservation Rules and Regulations for the HPC Club Vacation Ownership Plan, Exhibit #2 to the Multisite Public Offering Statement)
(cf: Club to Club Exchange Agreement)

A. Request List (18mo) –”for HPC Club Owners who wish to make reservations for use of Weeks or Split Weeks within the Hyatt Residence Club through the exchange program with Hyatt Residence Club established pursuant to the Club to Club Exchange Agreement in advance of the Week or Split Week being available for reservation by HPC Club Owners.

This is at the crux of how Hyatt (HVGG) favors the HPC. What the Club to Club Exchange Agreement says is simply: "HVGG shall maintain all request lists or wait lists in accordance with the respective Club’s rules."

But... in HRC we have an 18mo Request List for HRC Inventory and in HPC they have a 12mo Request List for HPC Inventory except for the Membership Tier Bonus.

So - 1) An HRC member has no Membership Tier so we don't get the bonus and so we get a 12mo Request List for HPC Inventory, and 2) An HPC member can put forth an 18mo Request List for HRC Inventory.

B. Club Use Period (6mo to 60 days) – “During the Club Use Period, a Club Member must compete with other Members on a first come, first served basis for a reservation for any available Week or Split Week. Club Members will have only limited rights to reserve Weeks or Split Weeks within the Club during the Club Priority Period described below.”

Here HPC competes with us equally for our own HRC CUP weeks.

C. Club Priority Period (60days to 0) – “If a reservation request for a given Week has not been received by Reservation Services by the beginning of the Club Priority Period (the 60-day period preceding the first day of use of every Week), Reservation Services’ ability to confirm a subsequent reservation request for the Week will be limited.”

Again, HPC competes with us equally for our own HRC CPP weeks.




Case 3. HRC Requests/Reservations for HPC Inventory Pool

A. Request List (12mo)


Again, the Club to Club Agreement states: "HVGG shall maintain all request lists or wait lists in accordance with the respective Club’s rules."

And you can see this on the web site where it says in the Request List portion: "If you are using your Portfolio Points to submit a waitlist request for Portfolio Program Resorts, we are accepting those up to 12 months prior to check-in."

B. Exchange Reservation Period (6mo to 2mo) – “During the Exchange Reservation Period, HPC Club Owners and HRC Members have the voluntary right, on a first come, first served basis, to reserve the use of any available Vacation Period within the HPC Club.”

So we miss out on the first 12mo to 6mo period (the ORP) but can compete with them after six months on the HPC inventory.

C. HPC Club Priority Period (2mo to Check-In Day) – “during which Club Owners have only limited rights to reserve the related Accommodation within the HPC Club.”

Same in the HPC Club Priority Period.


Case 4. HRC Requests/Reservations for HRC Inventory Pool

Well... you've all been doing this for some time, probably so I won't bore you here! Nothing's changed within the HRC.
 
Last edited:

ivywag

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Alameda, let me be the first to thank you for your excellent analysis and for staying up all night to do it! I have been trying for over a year to understand the relationship between the two Clubs, but the information provided is minimal and since I don't have a copy of the HPC Rules and other legal documents for the HPC, it's been difficult to understand what is really happening. There has been a real lack of transparency. I do have one additional thought in reference to the waitlist:

7b (i) During the HRC Club Use Period, HPC Trust Members have the right to use their HPC Trust Club Points separately or in combination with their existing HRC Club Points, if any, to reserve the use of any Weeks or Split Weeks available during the Club Use Period in exchange for the HPC Trust Member’s reservation rights in the HPC Trust Club. HPC Trust Members are advised that they will be competing with Members of the HRC Club to reserve the use of any available Weeks or Split Weeks.

The above paragraph is from the Club to Club Exchange Agreement. The key words are "DURING THE HRC CLUB USE PERIOD." It seems to say that HPC cannot reserve HRC units until the Club Use Period commences. Therefore, although an HPC member can waitlist 18 months in advance, he cannot be confirmed until 6 months prior (the HRC Club Use Period.) As HRC owners, we have been confirmed many times from the waitlist long before the CUP begins. That, if true, would still give us somewhat of an advantage as long as most of the inventory is in the HRC.

We are very concerned that what we were initially sold as a Club is being diminished. I've really been wondering how they are getting this through the various State Departments of Real Estate. If anyone has the Public Offering Statement for the HPC in CA, I'd appreciate a copy. If not I can probably get it from the DRE. CA is usually very consumer-friendly so it would be interesting reading.
 

alameda94501

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Alameda, let me be the first to thank you for your excellent analysis and for staying up all night to do it! I have been trying for over a year to understand the relationship between the two Clubs, but the information provided is minimal and since I don't have a copy of the HPC Rules and other legal documents for the HPC, it's been difficult to understand what is really happening. There has been a real lack of transparency. I do have one additional thought in reference to the waitlist:

7b (i) During the HRC Club Use Period, HPC Trust Members have the right to use their HPC Trust Club Points separately or in combination with their existing HRC Club Points, if any, to reserve the use of any Weeks or Split Weeks available during the Club Use Period in exchange for the HPC Trust Member’s reservation rights in the HPC Trust Club. HPC Trust Members are advised that they will be competing with Members of the HRC Club to reserve the use of any available Weeks or Split Weeks.

The above paragraph is from the Club to Club Exchange Agreement. The key words are "DURING THE HRC CLUB USE PERIOD." It seems to say that HPC cannot reserve HRC units until the Club Use Period commences. Therefore, although an HPC member can waitlist 18 months in advance, he cannot be confirmed until 6 months prior (the HRC Club Use Period.) As HRC owners, we have been confirmed many times from the waitlist long before the CUP begins. That, if true, would still give us somewhat of an advantage as long as most of the inventory is in the HRC.

We are very concerned that what we were initially sold as a Club is being diminished. I've really been wondering how they are getting this through the various State Departments of Real Estate. If anyone has the Public Offering Statement for the HPC in CA, I'd appreciate a copy. If not I can probably get it from the DRE. CA is usually very consumer-friendly so it would be interesting reading.
My pleasure, @ivywag it was precisely because I realized that I really couldn't figure out HPC without actually enrolling, that I did so (then rescinded).

I don't think badly on the sales team, because it's so complicated and they end up not knowing themselves.

To answer your question, that provision is there just to make clear that our HRPP is protected, as it must be legally.

Basically my understanding from the contacts is when we voluntarily give up our HRPP week (entering CUP early) or involuntarily give it up (6 months to check in without confirming HRPP) the week enters into CUP.

At that point whoever, HRC or HPC, that put in a top Request List entry (if anyone) will get it, and if not, the HPC or HRC member who reserves it on the website first gets it.

So they truly have equal footing with us on our inventory.

I understand that in some ways it feels unfair but this might help; imagine that the sales team were still selling Developer HRC Weeks. The people buying those weeks would still be in the same position as the new HPC members, and compete equally with us on our inventory.

In my other thread I show that there's really not much more HPC inventory right now that we are missing out on. That might change if they build more stuff, but right now I think there's nothing to motivate buying in.

I will get into this in a future topic, but the key difference between us and HPC is the presence of the deeded week. Ultimately we have that to fall back on in case of Armageddon. HPC has nothing in their contract to prevent the "Reservation Services Operator" (Hyatt) from making their points worth next to nothing.
 

alameda94501

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@ivywag here is the specific contract language from the 2017 copy of the HRC Club Rules and Regulations.

Section 4.2 Reservation Request Priorities.






The important parts of this section are:

During the Club Use Period, a Club Member must compete with other Members on a first come, first served basis for a reservation for any available Week or Split Week. [...]

and

[...] The Club Use Period (Fixed) begins on the day after the expiration of the Home Resort Preference Period (Fixed), or upon earlier relinquishment of the Home Resort Preference Period (Fixed) rights, and ends on the day before the first day of use of a given Fixed Week.

----------------------

I will say that the Definition given at the start of that document is confusing, since it says:

Club Use Period (Fixed) shall mean the six- (6-) month (182-day) period beginning on the day after the expiration of the Home Resort Preference Period (Fixed) and ending on the day before the first day of use of a given Fixed Week. During the Club Use Period (Fixed), Club Members must compete on a first come, first served basis to reserve the use of any available Week within the Club.

But I think really given how the system and web site operates - HPC members compete equally in all aspects to our HRC inventory but without an HRPP.
 

peas

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Thanks for the request list rules. What was interesting to me is that unless Hyatt starts building new resorts locking legacy owners out, these points are worth very little due to such harsh restrictions. I don't see much motivation for someone to buy these points as long as there are legacy weeks available for sale.
 
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If I buy a HRC TS, and have week 4 but want to change the dates or only do a weekend instead of the whole week in the SAME property. Is this permitted by the TS? Will I still have points left for another location?

Thanks
 

grevas1

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If I buy a HRC TS, and have week 4 but want to change the dates or only do a weekend instead of the whole week in the SAME property. Is this permitted by the TS? Will I still have points left for another location?

Thanks
Yes, one can book the entire deeded week (no points leftover), or use a split week and have the remaining points available.
 
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