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Hyatt now has a buy back program

bdh

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I don't know the details of the program, but here's the link to their website on the topic.

 

PerryKing

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?? We will see about that ! Maybe don't get to excited about it. Even if legit, maybe they are only interested in buy backs at properties where they trying to sell the Portfolio Points program !
Since I do have my 3 bedroom peak ski week 11 at HMSS Breckenridge for sale here on TUG I sent an email to the Hyatt.com/ Exit address listed on the site, I will see what happens next. I'm guessing however I will not be very impressed !

Thanks
 

ivywag

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I don't know the details of the program, but here's the link to their website on the topic.

It doesn't really say that it's a "buyback." I read it as an offer to help you sell your unit-probably for a fee. It is pretty short on details! You can be sure that it will benefit Marriott.
 

PerryKing

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You are right on I believe !!
 

CPNY

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It doesn't really say that it's a "buyback." I read it as an offer to help you sell your unit-probably for a fee. It is pretty short on details! You can be sure that it will benefit Marriott.
Wouldn’t be surprised if Marriott is buying units to add into a common currency program with inventory they own. legally they probably can’t but who knows.
 

PerryKing

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However Like IVTWIG posted above it appears to not be a "BUY BACK " program but a "help you Exit " program.
 

TravelTime

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I just sold back a Hyatt Windward Point to Hyatt.
 

PerryKing

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Well that's great, please tell us some of the details, did you sell it through Hyatt and their new "EXIT " service? or did Hyatt actually buy it from you ? or did you maybe actually "trade it in" to buy into the portfolio points program.
Thank you.
 

SteelerGal

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I’m not surprised. Since purchasing Vistana, a deedback program is now offered. It’s been an option available to Marriott owners. You basically have to pay the next years MF for deedback.
 

TravelTime

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I called the resale operations for Marriott, Vistana and Hyatt. Hyatt is purchasing the week from me for $5400. It is an annual Diamond week at Windward Point in Key West. The transaction takes about 90 days to close. Hyatt will assume MFs in 2021 so 2020 was my last year of paying MFs. I am happy to answer any other questions.
 

PerryKing

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Do you have their phone number please?
 

bdh

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Do you have their phone number please?
Info from the Hyatt link:

To speak to an Exit Specialist about your options, call toll-free +1 833.‍891.‍9412, 9:00 AM‍–‍5:00 PM Monday through Thursday, 10:00 AM‍–‍5:00 PM Friday, Eastern Time
 

TravelTime

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I called the number on this link:

 

bradj

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I called the resale operations for Marriott, Vistana and Hyatt. Hyatt is purchasing the week from me for $5400. It is an annual Diamond week at Windward Point in Key West. The transaction takes about 90 days to close. Hyatt will assume MFs in 2021 so 2020 was my last year of paying MFs. I am happy to answer any other questions.
I just sold my Platinum week 20 Beach House 2000 points back to Hyatt for $5400 net on March 10th, 2020. ($6150 minus $750 closing expenses.) 60 t0 120 days to close depending on which agent you talk to. I talked to 4. Also there is some confusing info on the return of your prepaid maintenance fees. Also depends on which agent you talk to. Any real answers to that? Hyatt is claiming to be buying and exercising FROR for all Hyatt resales. Not true. When cornered, they (Hyatt/Marriott) admitted they have a "threshold" at which they will NOT buy a unit back. Very misleading. My advice for all Sunset Harbor deeded owners is to NEVER give up a deeded week to Hyatt or participate in any Portfolio Points program. Your weeks are far too valuable.
 

travelhacker

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I just sold my Platinum week 20 Beach House 2000 points back to Hyatt for $5400 net on March 10th, 2020. ($6150 minus $750 closing expenses.) 60 t0 120 days to close depending on which agent you talk to. I talked to 4. Also there is some confusing info on the return of your prepaid maintenance fees. Also depends on which agent you talk to. Any real answers to that? Hyatt is claiming to be buying and exercising FROR for all Hyatt resales. Not true. When cornered, they (Hyatt/Marriott) admitted they have a "threshold" at which they will NOT buy a unit back. Very misleading. My advice for all Sunset Harbor deeded owners is to NEVER give up a deeded week to Hyatt or participate in any Portfolio Points program. Your weeks are far too valuable.
The amounts they are paying is so much higher than I would have thought. I could have bought a week 20 at Windward Pointe this time last year for $2500 ALL in....kinda wish I would have pulled the trigger on it, I just didn't see week 20 as a week that would have much demand.
 

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I wonder if they are only buying units they can dump into the Portfolio Program. For example, if you called up with a High Sierra unit, would they take it or say thanks but no thanks?

@PerryKing did you ever call? What did they say?
 

bradj

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The amounts they are paying is so much higher than I would have thought. I could have bought a week 20 at Windward Pointe this time last year for $2500 ALL in....kinda wish I would have pulled the trigger on it, I just didn't see week 20 as a week that would have much demand.
FYI Just to brag a little bit, I bought the Beach House week 20 I just sold for $5400 off of Ebay 3 years ago for $10 (ten) dollars. At the time it was a silver week 1400 points. About a1/12 years ago Hyatt made it a platinum week, 2000 points. It gets even better. It came to me with prepaid maintenance fees, the 1400 points AND a one week reservation at Sunset Harbor! Even at $10 Hyatt did not exercise their First Right of Refusal. I did let the previous owner keep the Sunset Harbor reservation that he had made that came with my deal as a guest of mine. This whole deal was a matter of l-u-c-k. I just happened to be on Ebay when the "buy it now" for $10 popped up.
 

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Why do you think this? For the right price from Hyatt I would probably sell our Sunset Harbor week to them.

My advice for all Sunset Harbor deeded owners is to NEVER give up a deeded week to Hyatt or participate in any Portfolio Points program. Your weeks are far too valuable.
 

alameda94501

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I wonder if they are only buying units they can dump into the Portfolio Program. For example, if you called up with a High Sierra unit, would they take it or say thanks but no thanks?
I'm pretty sure they need more High Sierra units right now. I think they've only got around 20 unit-weeks. Not sure what they would do with a non-platinum/non-diamond week.
 

bdh

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My advice for all Sunset Harbor deeded owners is to NEVER give up a deeded week to Hyatt or participate in any Portfolio Points program. Your weeks are far too valuable.
Hyatt must need inventory at HSH for their points program as they've been exercising ROFR the past couple of months - and the ROFR price continues to climb.
 

AJCts411

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My observations for Sunset, there is a high demand for the gold/platinum weeks, and almost as much for the silver weeks. From what the salesman disclosed inadvertently at a owners update, I'm reading between the lines, that HPP does not have the inventory for demand...no surprise there...and most likely to exercise ROFR at anything too low. Too low...my estimate is under the association owed listings, about 5-6K , perhaps.
 

JanT

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Just out of curiosity I sent the resale operations office an email this morning about a potential buyback of our Hyatt Sunset Harbor week. I will report here what they say.

My observations for Sunset, there is a high demand for the gold/platinum weeks, and almost as much for the silver weeks. From what the salesman disclosed inadvertently at a owners update, I'm reading between the lines, that HPP does not have the inventory for demand...no surprise there...and most likely to exercise ROFR at anything too low. Too low...my estimate is under the association owed listings, about 5-6K , perhaps.
 
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dahntahn

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Called Hyatt resale and they have a deedback program for anyone who wants to give their weeks back for free, just to get out from under the maintenance fees. They may be buying some weeks back, but offered nothing for my 3 Beach House weeks [diamond, platinum, gold] and my one Coconut week. [week 2 gold].
 

Sapper

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I'm pretty sure they need more High Sierra units right now. I think they've only got around 20 unit-weeks. Not sure what they would do with a non-platinum/non-diamond week.
For some reason I thought the High Sierra was excluded from from HPP. I went back through the documentation, and sure enough, there it is. I guess I was thinking the Mountain Lodge, my mistake.
 

bdh

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Called Hyatt resale and they have a deedback program for anyone who wants to give their weeks back for free, just to get out from under the maintenance fees. They may be buying some weeks back, but offered nothing for my 3 Beach House weeks [diamond, platinum, gold] and my one Coconut week. [week 2 gold].
They bought Beach House and a Windward Pointe weeks back - and now they say a deed back program. Sounds like they pick and choose when to do a buy back just the way they pick and choose when to do a ROFR - expect it's some formula of how much money they have to spend and how many points they need to dump into HPP. When they don't have money in their check book, they don't buy and say they're only accepting deed backs.
 
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