Hyatt now has a buy back program

[PerryKing]

They are not "currently " interested in a premier ski week at Hyatt Main Street Station - Breckenridge. So you can figure that one out .

 

[ResaleExpert]

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.

For a while (late 2019 and early 2020) Hyatt WAS buying some back; mostly best prices at Sunset Harbor and Beach House where there is virtually no Residence Club Inventory AND they have a newer very expensive office in Key West to sell Portfolio Points. As of Covid they have NOT exercised their ROFR for ANY resales that I have sold or know of. Likely reallocated those funds to ongoing operations. Marriott Vacation Club had announced in Sept. that they allocated 200 million for buybacks across Marriott, Westin & Hyatt. With very few (if any) Portfolio sales they do not have a need to buy back and put Residence Club buy backs in to Portfolio.

 

[bradj]

For a while (late 2019 and early 2020) Hyatt WAS buying some back; mostly best prices at Sunset Harbor and Beach House where there is virtually no Residence Club Inventory AND they have a newer very expensive office in Key West to sell Portfolio Points. As of Covid they have NOT exercised their ROFR for ANY resales that I have sold or know of. Likely reallocated those funds to ongoing operations. Marriott Vacation Club had announced in Sept. that they allocated 200 million for buybacks across Marriott, Westin & Hyatt. With very few (if any) Portfolio sales they do not have a need to buy back and put Residence Club buy backs in to Portfolio.

Have any HRC owners with commitment letters from HVCI Resale Operations closed and cashed in on Hyatt's repurchase offer? Hyatt Exit Specialists say that Hyatt is honoring those commitments. They are, however, now only accepting deeds back with no (ZERO) cash proceeds to owners. That sure doesn't say much about how Hyatt feels about the value of their timeshare product. Just like to hear from someone going through the process like me with a commitment letter.

 

[TravelTime]

Hyatt agreed to buy back a week from me. They agreed pre-Covid. I got an email recently saying they are postponing it until July. I wonder if they will renege on their offer.

 

[pacman777]

They are not "currently " interested in a premier ski week at Hyatt Main Street Station - Breckenridge. So you can figure that one out .

How much are you wanting for your ski week? I might be interested.

 

[PerryKing]

WELL Since you asked Its listed here on TUG , for $45,000. Week 11 (plus 10 days in the: Summer 7 and 3 in the Fall float time), 3 bedroom (lock off top floor , ski mountain view - and thus comes with 5900 Hyatt Club points each year (2950 HRPP and 2950 Float). See the for sale listings here on TUG. However it's maybe negotiable some if I sell it direct. It's also could be sold through an official Hyatt Reseller. So if purchased through the Hyatt official reseller any new buyer would get the Hyatt Hotel exchange privilege also, if that's important to the buyer.

 

[ResaleExpert]

Perry; I think your listing with the official Hyatt reseller is a good idea; however, the CO Hyatt resellers are not part of the ~40 member Licensed Timeshare Resale Brokers Association and I've found in the past 15 years that very very few of my inquiries ever know of them. Also, the 'real' market is often considerably less than the local market brokers; I found the same in Hawaii where onsite brokers might find the buyer in their brick and mortar offices while most buyers spend a few minutes to find hundreds of listings from a few other sites.
Rarely if ever will a Hyatt resale buyer use the hotel points; it does not even come close to making sense; dues for the points alone are typically far more than renting; and now rents are down but dues will likely go way up soon. Your only buyer will be someone wanting to occupy ONLY week 1 (any can use the floating points) and if they may want another Diamond or Platinum week then prices are below $20,000 and not sold. Recent 2 br. sales at under $10,000.
Many Hyatt buyers look for the most points with low dues; 2,200 points weeks are $5,500 up; 1,880 points options are as low as $1,880 with dues of $1,550.

 

[PerryKing]

Thanks ResaleExpert. I agree that the Hyatt hotel program is not a good deal. Originally (1990's) it was even worse than it is now. I did a test once with the new and revised Hotel Points exchange polices : Deposited a week at Coconut plantation, then I could only get enough points to stay at Coconut Point through the hotel program for 5 nights during the same week I gave up. Thus Hyatt's "profit" or "Margin" on my exchange was the value of 2 nights. Very bad deal for the Member ! So I have never done it ! (except I have so many points than I can use, and have been to every Hyatt club in the system, that it might be better than letting them just expire. I only mentioned the hotel program in case someone does care. The Two official resales in Colorado have both been involved since they were part of the original sales force when the resorts were first opening. The one in Beaver Creek is the billion dollar Vail Valley real-estate firm: Slifer Smith & Frampton Real Estate.

But I know it is very unlikely that they are going to sell my unit anyway. However the experienced Official Resellers are at the property and at the same time when the potential buyer is there skiing , and it takes a lot to explain to a prospect how it all works, and they do have that knowledge. And I'm the first to understand the cost per point advantages of the club,. I.e. I tell every one that's interested, and has not figured it out yet, all about it as we sit in the hot tubs at the clubs. That's why ( or how I came to own) two weeks at Hacienda dell Mar in Puerto Rico (Plus I really love the place) . So You might say I'm offering to someone that cares about skiing in a world class ski resort during week 11, in a premium unit. i.e. I'm offering to sell more than just "POINTS", I will maybe eventually sell it for a reasonable price to the right skiier, but I'm not going to just give it away. At this point in time anyway.

 

[ResaleExpert]

Perry, it's obvious you know your ownership and understand the benefits of owning a great week and the points aspect to trade. We honeymooned in Breckenridge 45 years ago end of January; have not yet had the chance to get back!
I DO talk to a lot of Hyatt prospects every week and if / when I get a request on Breckenridge I do go the 'in house' broker.
I'm now ALSO with a rental company too so if you or anyone you know is looking to rent out their week please reach out. Stay Healthy

 

[PerryKing]

Breckenridge 45 years ago ? You need to come back soon. Maybe even this summer. There is a lot of short week availability at Breckenridge. But maybe later in the summer would be better. Breck has change a lot , all for the better . BrecK is a "Real Town" That's the town marketing Motto. I'm sure you will be quite surprised and have a great time, summer, winter or Fall.

I just reserved a week at Aspen for June 7, 2020 just 4 hours before my LCUP points expired. As it was I lost 100 that I could not use ( or wanted to). If I could have used them for 2 days at Breck that connected to my Aspen time I would have done that. but they didn't.

And as you know, but primarily so that other readers do not get the ideal that FLOAT points are only good at your own resort, I wanted to make the points that FLOAT POINTS at our Colorado resorts are just like any other Hyatt points , you can use them with reservations priority at your home resort or you can use them as CUP (and later as LCUP) points at any other club in the system with availability, until they expire just like any other club points. I used to ski with them at Hyatt Beaver Creek, watching and garbing studios that would pop up at Beaver Creek or at Main Street Station - Breckenridge. during ski season. I gave up after hitting a tree at Breck on peak 8 (Million dollar medical bill - That Kaiser Permanente paid for, all of it except for $700), and then I also sold my Beaver Creek 2 Bedroom, For what I paid for it - even after paying the 18% Commission. I should have keep that one and sold Breckenridge. Rents at Beaver Creek, peak ski season, are easy to get, like week 10 or my week 11 for up to $1200 a night, while at my Breckenridge 3 Bedroom, with better snow at Breck, I have not been able to rent it now for three years straight.

I just updated my rental ad on the TUG FOR RENT section for next year if your interested in skiing, and want to bring 8- to 10 people with you.

TNX. Perry

 

[ResaleExpert]

Breckenridge 45 years ago ? You need to come back soon. Maybe even this summer. There is a lot of short week availability at Breckenridge. But maybe later in the summer would be better. Breck has change a lot , all for the better . BrecK is a "Real Town" That's the town marketing Motto. I'm sure you will be quite surprised and have a great time, summer, winter or Fall.

I just reserved a week at Aspen for June 7, 2020 just 4 hours before my LCUP points expired. As it was I lost 100 that I could not use ( or wanted to). If I could have used them for 2 days at Breck that connected to my Aspen time I would have done that. but they didn't.

And as you know, but primarily so that other readers do not get the ideal that FLOAT points are only good at your own resort, I wanted to make the points that FLOAT POINTS at our Colorado resorts are just like any other Hyatt points , you can use them with reservations priority at your home resort or you can use them as CUP (and later as LCUP) points at any other club in the system with availability, until they expire just like any other club points. I used to ski with them at Hyatt Beaver Creek, watching and garbing studios that would pop up at Beaver Creek or at Main Street Station - Breckenridge. during ski season. I gave up after hitting a tree at Breck on peak 8 (Million dollar medical bill - That Kaiser Permanente paid for, all of it except for $700), and then I also sold my Beaver Creek 2 Bedroom, For what I paid for it - even after paying the 18% Commission. I should have keep that one and sold Breckenridge. Rents at Beaver Creek, peak ski season, are easy to get, like week 10 or my week 11 for up to $1200 a night, while at my Breckenridge 3 Bedroom, with better snow at Breck, I have not been able to rent it now for three years straight.

I just updated my rental ad on the TUG FOR RENT section for next year if your interested in skiing, and want to bring 8- to 10 people with you.

TNX. Perry

Nice to 'meet' you; We stayed at the Trails end which was a great condo and location; houses on Main St. started at $19,000 and there were no traffic lights! Our skiing days are over but still enjoy the mountains having lived in Incline Village starting 2003 when I sold for Hyatt High Sierra Lodge (last agent for Hyatt there to sell out their inventory). Sounds like you did recover but must have been quite the ordeal...
We owned and operated the Gabrielli House B&B in Incline for 5 years; then turned it in to a vacation rental (7 br. 7 bath) when we moved down the hill to Reno; which we love. May take you up on a spring or fall but booked this year. Lucked out on a II Trade to Ko-olina Feb. 14 to 21 before the craziness started!
I'll look forward to future conversations.

 

[PerryKing]

Thanks. I was able to trade in to Ko olina several years ago. Very nice place. Except for the closed road to enter the area that the maps on the Garmin GPS did not know about. and the ride and traffic back to Honolulu. I was drafted and swore into the US Army at Fort DeRusey on Waikiki beach in 1967. Later.

 

[TXDreamer]

After reading the posts about the buy back program I thought I would send an email to Hyatt just to see what they would offer for my deeded week at Hyatt Wild Oak. We have been owners for going on 13 years. We really like the property but have always been disappointed that in 13 years nothing as really changed other than the service seems to have down and now the whole issue with the pool.

I received an email back within two days saying they are offering an opportunity for you to "relinquish your ownership" with no monetary gain. In other words just give back my deed and not pay anymore maintenance fees. I am sure this is so they can turn around and add it to their portfolio program. The truth is I wouldn't mind getting rid of it but I am not sure I just want to give it away. Anyone else had this offer?

 

[GTLINZ]

I received an email back within two days saying they are offering an opportunity for you to "relinquish your ownership" with no monetary gain. In other words just give back my deed and not pay anymore maintenance fees. I am sure this is so they can turn around and add it to their portfolio program. The truth is I wouldn't mind getting rid of it but I am not sure I just want to give it away.

The relevant question is here what are you offering to turn in? If it is a bronze or silver week, then it would be good for you. Platinum or Diamond should be worth some money and you could sell it. Gold is likely somewhere in the middle.

 

[TXDreamer]

The relevant question is here what are you offering to turn in? If it is a bronze or silver week, then it would be good for you. Platinum or Diamond should be worth some money and you could sell it. Gold is likely somewhere in the middle.

Thanks for the reply. We have a Bronze week...when we joined we really just wanted the points. 1300 points, which has allowed us to stay multiple times a year since we usually go in the off season.

 

[GTLINZ]

Thanks for the reply. We have a Bronze week...when we joined we really just wanted the points. 1300 points, which has allowed us to stay multiple times a year since we usually go in the off season.

We travel off season also and don't need as many points. We also don't mind staying in a studio.

If you check ebay most bronze and silver units go for very little and often the seller is paying the transfer fee and closing costs. It is really a question of whether or not the vacations are worth the MF to you at this point. I gave up my HGVC ownership last year and I miss it but do not miss the responsibility. So if this does not cost you anything to turn it in it might be a good deal and eliminate a lot of headaches.

I am not sure if you have any points left, but you might be able to make reservations and still use them. For Hyatt reservations it would have to be handled correctly during the transfer. For II, i think your account stays active for the entire year and you could even do a GC in your name to make sure.

 

[TXDreamer]

We travel off season also and don't need as many points. We also don't mind staying in a studio.

If you check ebay most bronze and silver units go for very little and often the seller is paying the transfer fee and closing costs. It is really a question of whether or not the vacations are worth the MF to you at this point. I gave up my HGVC ownership last year and I miss it but do not miss the responsibility. So if this does not cost you anything to turn it in it might be a good deal and eliminate a lot of headaches.

I am not sure if you have any points left, but you might be able to make reservations and still use them. For Hyatt reservations it would have to be handled correctly during the transfer. For II, i think your account stays active for the entire year and you could even do a GC in your name to make sure.

This is exactly what I was thinking. I have been watching ebay and other sites for Bronze weeks and notice they are going for nothing. We have enjoyed the property but for what we are paying in MF we could stay at other nice hotels as well. The other real kicker is that we bought into the Disney Vacation Club about 3 years ago and we have been so impressed with their service that it just makes us question is HRC is worth it any more.

Thank you for your feedback and thoughts, it has really helped!

 

[Pathways]

is HRC is worth it any more.

Just like any other timeshare, there is no 'one size fits all' answer to this question.

HRC is DEFINITELY worth it to me, but all my weeks are Plat/Diam and are at top locations in high demand weeks. I don't think HWO has many weeks that fit that mold.

 

[Sugarcubesea]

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.

Have you owned this unit a long time? We have stayed at Hyatt Windward Pointe, I really liked it, we won at Beach House

 

[TXDreamer]

We have owned there for 13 years. We live in TX so this is a nice close getaway for us. You are right, there really aren't any high demand weeks at HWO. Even during the summer we have never had a problem getting a room. That is actually what we have loved, most of the time we go it is like having the place to our self.

We have just been disappointed in the promises at the property over the past few years. Service has gone downhill and they have not really done anything to improve the property except build one new building for the Portfolio Program. Then this year we have had the whole issue with the main pool and activities building. We have just started to think that we can save the money we have been spending on MFs and use them at other hotels.

 

[SBDawg]

Just got back from MVW, I was told they are offering to relinquish my ownership for $0 dollar. I own HKB, week 4, 3-bedroom. My first thought was they are taking advantage of covid and trying to buyback from people that are getting rid of timeshare at the moment.

What do you guys think? I'm new to the forum. And timeshare was a gift from my wife's grandparents years ago, we've been paying hefty maintenance for the past few years.

 

[ResaleExpert]

Bill here; yes, Marriott HAD agreements with many of the HOA boards to buy back foreclosures for one year's dues however, it appears they unilaterally 'postponed' these. Of course, this is what experts are saying. Your HKB week 4 3 br will have one of the highest resale values across every timeshare and will sell. ALSO, the rents for that week and unit will far exceed your annual dues. Hope this helps and I'm here to answer any questions as a prior HRC sales executive and with over 800 Hyatt sales alone in 17 years.

 

[socaltimeshare]

Bill here; Your HKB week 4 3 br will have one of the highest resale values across every timeshare and will sell. ALSO, the rents for that week and unit will far exceed your annual dues. Hope this helps and I'm here to answer any questions as a prior HRC sales executive and with over 800 Hyatt sales alone in 17 years.

Why is week 4 high resale? I thought the highest resale weeks would be when families can travel due to breaks, such as summer (somewhere between 25 and 32), thanksgiving and winter break (50 - 1).

 

[ResaleExpert]

Maui especially is high in winter due to snow birds and whale watching. Every resort has different demand but Hawaii in general is highest demand all year; Bill

 

[win555]

A broker I had reached out to for a Hyatt listing mentioned Hyatt will start exercising ROFR. I don't feel this should be the case in this economy so I'm curious if there are any data points.

we just got a letter from ARDA letting us know that Hyatt Residence Club will be acting more aggressively in the Right of First Refusal to acquire more inventory for the Hyatt Residence Club Portfolio Program.