www.hyattresidenceclub.com
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.I don't know the details of the program, but here's the link to their website on the topic.
Exit Specialists Are Here to Help
Hyatt Residence Club is doling out some serious #VacationEnvy. Check it out!
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.
Info from the Hyatt link:
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.
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.
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.
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.
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.
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.