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HPP Contract on Ebay

alexadeparis

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DAman

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The issue is how much more the MF’s are compared to the deeded properties.

My points are approximately .64 a point. This is .98 a point.

Initially I thought it might be a good deal even at the buy it now price. But doing the math I wouldn’t bite even at a very low bid.

I’m curious what the market will say this is worth too.
 

alexadeparis

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yeah those MFs aren't the best - but all these pure points programs are higher than the old deeded weeks - unfortunately, i don't think that will change back. Realistically - anytime i am at or under $200 per bedroom per night on MF, I am still beating the price of a barely acceptable hotel, so i'm ok with it
 

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According to the HPP rules, those points can only be sold with Hyatt's permission. It's not a matter of ROFR where Hyatt would be the ultimate buyer. The real issue is the HPP owner is stuck with ownership forever.
 

alexadeparis

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Kal, do we have any experience from anyone on tug selling or buying these resale? Or are you saying that they are literally unsellable? Does Hyatt buy these back Voluntarily without calling it rofr or what Actually happens? P.S. I love your Hyatt website!
 

TheTimeTraveler

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According to the HPP rules, those points can only be sold with Hyatt's permission. It's not a matter of ROFR where Hyatt would be the ultimate buyer. The real issue is the HPP owner is stuck with ownership forever.

I wonder if this particular listing on eBay is being sold with Hyatt's permission?

It would seem that Hyatt would most always want to provide permission in order to avoid massive amounts of defaults.....



.
 

travelhacker

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I wouldn't ever bid on that auction, I just don't think it's worth anything.

I am curious though, if Hyatt approved of a sale of portfolio points, and you had X number of points, would you be able to do some of the other things that portfolio owners can do? Like could you convert your week to Portfolio on an annual basis and bank points?
 

Kal

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Kal, do we have any experience from anyone on tug selling or buying these resale? Or are you saying that they are literally unsellable? Does Hyatt buy these back Voluntarily without calling it rofr or what Actually happens? P.S. I love your Hyatt website!
There does not appear to be any history of selling HPP points on the open market. However, the rules make it clear that points can only be sold with Hyatt's approval. Even if a private transaction occurred, the new owner would have to obtain Hyatt's approval to be "Club" member. Without membership, there is no access to any provision of the reservation/exchange program. With HPP there is no deed, but simply points administered by Hyatt.
 

Sapper

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Again, the Hyatt Points Program (HPP) is a disaster. My guess is Hyatt would have no problem with points transfer, unless it is to a known Viking ship entity. What do they gain by not allowing a transfer? An unhappy customer who will then refuse to pay the maintenance fees... which leads to more work for them.

All that being said, while I have seen HPP contracts on the open market, I have not seen one sell... not even for $1.
 

alameda94501

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I heard from a reputable broker that they JUST sold their first 1,100 point contract for $0 last month.

I was curious how it worked and the purchaser understood that the points from a resale are considered "NON-AUTHORIZED RESALE POINTS" which would not grant club status or many benefits besides the raw points.
 

heathpack

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the points from a resale are considered "NON-AUTHORIZED RESALE POINTS" which would not grant club status or many benefits besides the raw points.
What does that mean? How can you even use points if you’re not a member of HRC?
 

dioxide45

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What does that mean? How can you even use points if you’re not a member of HRC?
Does it mean you can only book inventory that is inside the trust and not have inventory that other owners who use points instead of their week? Kind of like Marriott's DC program where they have the trust and then the exchange company?
 

heathpack

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Does it mean you can only book inventory that is inside the trust and not have inventory that other owners who use points instead of their week? Kind of like Marriott's DC program where they have the trust and then the exchange company?
Maybe. Although I don’t own any Hyatt Pure Points and I’m member of the Club. There are new (sine HPP) rules about “Club to Club” exchange, so maybe there’s two clubs. Maybe if you buy HPP resale, you’re a member of the néw club but not the old one, the with deeded weeks in it.
 

alameda94501

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Sorry for the delay @heathpack, "NON-AUTHORIZED RESALE POINTS" just means you don't get "developer benefits" on the points you have.

Unlike legacy HRC, where the developer benefit is just the World of Hyatt conversion opportunity, in the new HPC developer benefits are part-and-parcel of the point.

With developer-blessed points you can gain "club status" - meaning you can become a Classic, Executive, Premier, or Elite member with the commensurate benefits that status brings (request list bonuses, WoH conversion rates, banking deadline extensions, etc)

Here's the whole list.


But if you only have non-authorized points, you're given last priority within the HPC.

---

The easiest way to think of HPC is that imagine you ganged together with a bunch of people and bought out all the dregs of the legacy HRC vacancies which then become the HPC inventory.

You then come up with a prioritized system on how to divvy up the dregs/HPC inventory, but you also gain access like anyone else in legacy HRC to the larger legacy HRC inventory within the 6months of CUP. When you "purchase" (or are gifted) non-authorized/resale on HPC it just means you are at the bottom of the list for the dregs/HPC inventory.

Also - Hyatt may not want to exercise ROFR even at $0 because a big plus for them is covering their maintenance fees at a really high rate. That's a fundamental issue with HPC.
 

bradj

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Sorry for the delay @heathpack, "NON-AUTHORIZED RESALE POINTS" just means you don't get "developer benefits" on the points you have.

Unlike legacy HRC, where the developer benefit is just the World of Hyatt conversion opportunity, in the new HPC developer benefits are part-and-parcel of the point.

With developer-blessed points you can gain "club status" - meaning you can become a Classic, Executive, Premier, or Elite member with the commensurate benefits that status brings (request list bonuses, WoH conversion rates, banking deadline extensions, etc)

Here's the whole list.


But if you only have non-authorized points, you're given last priority within the HPC.

---

The easiest way to think of HPC is that imagine you ganged together with a bunch of people and bought out all the dregs of the legacy HRC vacancies which then become the HPC inventory.

You then come up with a prioritized system on how to divvy up the dregs/HPC inventory, but you also gain access like anyone else in legacy HRC to the larger legacy HRC inventory within the 6months of CUP. When you "purchase" (or are gifted) non-authorized/resale on HPC it just means you are at the bottom of the list for the dregs/HPC inventory.

Also - Hyatt may not want to exercise ROFR even at $0 because a big plus for them is covering their maintenance fees at a really high rate. That's a fundamental issue with HPC.
What are these commensurate benefits you speak of? I think HPP points owners are still competing with HRC members with request list inventory. HPP inventory is still scarce until Hyatt/Marriott can build the HPP inventory through availability of inventory created by HRC members surrendering their deeded weeks back to Hyatt/Marriott. Hyatt had a buy back program for a few months on select locations through what they call their "Exit Program." They actually paid HRC members to surrender their deed weeks for a pre-designated price. $6150 for Platinum select Key West properties and around $7650 for Diamond weeks, Both minus approx. $750 for closing costs. I sold and closed on my Platinum week. Proceeds came from Marriott. This was supposed to build up their non deeded weeks and into HPP. Then came Covid and all bets were off since March on actual compensation. Deeds back with no compensation to owners. Some paranoid owners did this to escape future MF. Until Portfolio points sales pick up, one shouldn't expect any compensation for a deeded week. Doesn't give a very good opinion of Hyatt/Marriott's value of their deeded week product that we all paid dearly for. Currently it's ZERO.
 

alameda94501

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The commensurate benefits are listed in a chart at the link I posted. They are only relative to other HPC owners, e.g. Elite get a month jump on Premier on their first request.

As suggested by the only resale I know, HPC points literally have $0 value, and when comparing maintenance fees it's more like inheriting a liability.

The HRC deeded weeks appear to be doing a brisk sale in the COVID era well above $0 in resale. Sounds like the Hyatt Portfolio managers also are hungry to purchase the HRC deeded weeks as well. I've investigated the HPC inventory and it doesn't appear currently compelling.
 

alexadeparis

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It just ended with one bid at the starting price of $4500. The bidder had over 1800 feedback, which surprises me. I sure hope the person knows they're buying something restricted.
 
Last edited:

Sapper

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It just ended with one bid at the starting price of $4500. The bidder had over 1800 feedback, which surprises me. I sure hope the person knows their buying something restricted.
It will be interesting if (when?) it comes back on the market.
 
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