Hyatt Grand Aspen owners file suit against Marriott/Interal/etc

[TUGBrian]

interesting reading...

https://www.aspentimes.com/news/local/suit-hyatt-grand-aspen-timeshares-dropped-in-value/

 

[Sapper]

Wow, similar to the Ritz suit, but specifically about how the HPP has undermined their ownership. It states that the owners are seeking to terminate the relationship with the “Portfolio Club”. Is the portfolio club the HRC or the HPP?

Also, since the owners feel their ownership has been substantially devalued... anyone interested in selling their Aspen unit cheap? No, I didn’t think so.

 

[Tucsonadventurer]

Wow, similar to the Ritz suit, but specifically about how the HPP has undermined their ownership. It states that the owners are seeking to terminate the relationship with the “Portfolio Club”. Is the portfolio club the HRC or the HPP?

Also, since the owners feel their ownership has been substantially devalued... anyone interested in selling their Aspen unit cheap? No, I didn’t think so.

HPP is portfolio club

 

[Panina]

Very interesting. Will be interesting what will happen. Hoping the owners will win.

 

[Sapper]

HPP is portfolio club

Thanks!

My wife likes Key West, I like Carmel, we both like Aspen!

 

[amycurl]

I think the most fascinating thing in that suit is that they are invoking the state's RICO law.

 

[CO skier]

I think the most fascinating thing in that suit is that they are invoking the state's RICO law.

The plaintiff attorneys are just throwing everything into the basket that they can. This will become interesting only if the courts allow the lawsuit to proceed on this claim.

 

[Sapper]

Do y'all think this will cause the Aspen unit prices to drop like the Ritz prices have dropped?

If the suit is successful, would the HPP trust holding the Aspen inventory have to divest the held inventory?

 

[dioxide45]

@CO skier posted about this in the old Ritz thread in the Marriott forum yesterday. It seems there may be verbiage in the underlying condo docs for Hyatt Aspen that limit the ability to use as a timeshare, which by dumping unsold inventory in to HPP, they may have done.

https://tugbbs.com/forums/index.php...-ritz-owners-suing.236853/page-3#post-2285866

 

[TBipp]

Very timely conversation. I just called 5 minutes ago and asked for waiting list for September 2020 in Aspen. I was asked if I wanted "Classic" or "Portfolio" and "Portfolio" was an extra $60 housekeeping fee; however, I would have a better chance of my request being filled if I go with Portfolio as it would be a larger pool of units (Classic + Portfolio units). She also said the Portfolio units were coming from Hyatt's inventory? I opted for Classic but planned to come here and ask if I should go with Portfolio to ensure I get my reservations. What do you think? And, I realize I should probably start a new thread with this question.

 

[Sapper]

Very timely conversation. I just called 5 minutes ago and asked for waiting list for September 2020 in Aspen. I was asked if I wanted "Classic" or "Portfolio" and "Portfolio" was an extra $60 housekeeping fee; however, I would have a better chance of my request being filled if I go with Portfolio as it would be a larger pool of units (Classic + Portfolio units). She also said the Portfolio units were coming from Hyatt's inventory? I opted for Classic but planned to come here and ask if I should go with Portfolio to ensure I get my reservations. What do you think? And, I realize I should probably start a new thread with this question.

That’s interesting. Curious, do you hold both HPP and HRC points?

 

[TBipp]

Sapper, I thought it was interesting also. We only own HRC points.

 

[Tucsonadventurer]

Sapper, I thought it was interesting also. We only own HRC points.

What's interesting is they tell us there is only 1 wait list. No clue what the rules are anymore

 

[Sapper]

Maybe they have given up on two separate lists and just combined everything. If an HRC owner uses an HPP unit, then they charge $60 and Hyatt (Marriott) makes some money that may have otherwise been left on the table.