Hyatt now has a buy back program

[MsEmba]

I just sold back a Hyatt Windward Point to Hyatt.

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

I went to the BUYBACK website and called and spoke with them months ago. They told me my WEEK 4 PARK HYATT BEAVERCREEK is not eligible for the program.

 

[SunandFun83]

I am interested in buying Diamond weeks at Coconut Plantation and Sunset Harbor.
Please PM if you are looking to get out.

 

[brdweb]

I went to the BUYBACK website and called and spoke with them months ago. They told me my WEEK 4 PARK HYATT BEAVERCREEK is not eligible for the program.

How much do you want for it? Might be interested.


Sent from my iPhone using Tapatalk Pro

 

[Hockeyraz]

Just called about selling back my Hyatt Beach House annual 25 deeded week. They do not "buy" back anymore but will allow you to "deed" it back to them for $0.

 

[AJCts411]

Just called about selling back my Hyatt Beach House annual 25 deeded week. They do not "buy" back anymore but will allow you to "deed" it back to them for $0.

Maybe you should consider trying to giving it away here, buyer pays closing and 2022 maintenance fees. If it goes to ROFR your ahead. If not, new owner would be happy, decent deal IMO for that amount of points. The rental would likely bring you in 2800 to 3200 for a two bedroom.

 

[Hockeyraz]

Maybe you should consider trying to giving it away here, buyer pays closing and 2022 maintenance fees. If it goes to ROFR your ahead. If not, new owner would be happy, decent deal IMO for that amount of points. The rental would likely bring you in 2800 to 3200 for a two bedroom.

Information like this is why I join this group. I'm trying to understand what my options are and how to execute on those options. Thank you for your feedback.

 

[travelhacker]

Just called about selling back my Hyatt Beach House annual 25 deeded week. They do not "buy" back anymore but will allow you to "deed" it back to them for $0.

I would list it on the market place. A couple of years ago these sold for about $2500, now it's looking they are going for around $3500-$4000. Not big money, but better than paying Hyatt to take it off your hands and better than giving it away.

Alternatively, you could list it on Redweek. If you price it well, I would think you should be able to get a buyer in short order.

 

[GTLINZ]

I would list it on the market place.

Agreed. This is a platinum unit in Key West, Before 2017 it was silver according to the old chart but they changed it. You should have no issue getting it sold.

 

[maryjane]

Is there a special number to call? I called the main number today and was told that they’re not doing deed backs anymore. I listed our week 26 Beach House unit on Red Week last year and had no interest. Deeding back to Hyatt seemed like the easiest way to divest ourselves.


Sent from my iPhone using Tapatalk

 

[travelhacker]

Is there a special number to call? I called the main number today and was told that they’re not doing deed backs anymore. I listed our week 26 Beach House unit on Red Week last year and had no interest. Deeding back to Hyatt seemed like the easiest way to divest ourselves.


Sent from my iPhone using Tapatalk

What was your price? Things are a bit different from last year. I don’t think you’d have any trouble getting more than you’d get from Hyatt (nothing). I’d estimate 3500 to 4000.

Heck if you’re just going to give it away, I’d be happy to get into a sales agreeement to buy it at a low price to bait Hyatt into taking it in RoFR, if I got it then that would be great.

 

[AJCts411]

I read in the HRC facebook that Hyatt exercised ROFR on a Beach House week for $9000.00. It was a good week, platinum I believe.

 

[alameda94501]

I read in the HRC facebook that Hyatt exercised ROFR on a Beach House week for $9000.00. It was a good week, platinum I believe.

Just curious @AJCts411 - what is the name of the HRC Facebook group? I thought I was a member but couldn't find it recently.

 

[AJCts411]

Just curious @AJCts411 - what is the name of the HRC Facebook group? I thought I was a member but couldn't find it recently.

Hyatt residence club owners.

 

[bradj]

I read in the HRC facebook that Hyatt exercised ROFR on a Beach House week for $9000.00. It was a good week, platinum I believe.

I'm not on Facebook. What week was it that ROFR was exercised by Hyatt fo $9000? Any way we can verify that? I sold a Platinum BH week 20 back to Hyatt for a little over $7000 which included the return of my maintenance fee. That was in March 2020. A week later they quit buying anything back and took advantage of Covid and got stuff for free,

 

[ivywag]

I went to the BUYBACK website and called and spoke with them months ago. They told me my WEEK 4 PARK HYATT BEAVERCREEK is not eligible for the program.

Probably because your resort is not part of HPP.

 

[dmarston]

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 Vacation Club is doling out some serious #VacationEnvy. Check it out!

www.hyattresidenceclub.com

I just called the Hyatt Residence Club's Hacienda Del Mar in Puerto Rico where I co-own a Platinum week unit. (Hyatt Residence Club was acquired by Marriott Vacation Club some time back). They said that Hacienda Del Mar is NOT participating in Deed Buy Back program at this time. (11/14/22). They didn't share any reason why but said perhaps sometime in the future this would change. Seems strange to me that some Marriott Vacation Club properties have the choice to opt out of the deed back program. You would think it's a company wide policy to participate in the program. From a legal perspective, it seems inconsistent and discriminatory to exclude certain properties from the deed back program.

 

[TUGBrian]

even when marriott took over vistana, they did not accept deedbacks from resorts outside the US. IIRC it had to do with how those properties were deeded/closing/etc.

does not sound like that policy has changed

 

[WahooWah]

Hyatt exercised right of first refusal and bought back a 2BR Middle Level fixed week 47 every odd year at Hyatt Ka'anapali for $17,000

 

[trwellerjr]

Any news that Hyatt Vacation Club is buying back properties currently.

 

[GTLINZ]

Any news that Hyatt Vacation Club is buying back properties currently.

You might want to determine if what you own has any value before contacting them. If what you have does have value they may take it and would likely not compensate you. If what you have has little or no value they will likely not want it.

If you post a new thread on this forum with the details you will get some good feedback.

 

[TXDreamer]

We just went to a sales presentation this morning at Bonita Springs. We own a deeded week (1300 points) at WOR since 2006 and 660 portfolio points. At the presentation, the sales rep basically pushed us selling back our deeded week. He told us that the maintenance fees were going way up and most deeded properties will probably default because it doesn’t make sense to keep paying the maintenance fees.

The offer was to take back our deeded week and for $7400 we would get 680 portfolio points. When I told him (Rich) we did not want to do it, he became very rude, telling us we would be loosing money if we didn’t do it. Then he went on to tell us we needed to sign a form saying we wound never be offered this again. We did not have to sign anything. He didn’t even walk us out, just told us to go to the front to get our gift cards. The ladies at the front were rude as well and just told us to not loose the cards that they would not replace them.

So it sounds like they are still “buying back” deeds, as long as you are willing to pay.

 

[GTLINZ]

So it sounds like they are still “buying back” deeds, as long as you are willing to pay.

The "buy back" program never involved selling you anything it was just a way to turn in your deed. And it was posted that it turned into a give back program which likely only ever happens for valuable weeks.

What you experienced is a common tactic to get you to buy more points in their terrible program . Intimidation is often used when facts are not in their favor.

 

[AJCts411]

All one has to do when a sales weasel pressures you with "your maintenance fees are going up" to deed owners is to consider the obvious...the portfolio racket pays those same maintenance fees...PLUS add in corporate profit margin...there you have the obvious truth. An expensive racket.

 

[GTLINZ]

All one has to do when a sales weasel pressures you with "your maintenance fees are going up" to deed owners is to consider the obvious...the portfolio racket pays those same maintenance fees...PLUS add in corporate profit margin...there you have the obvious truth. An expensive racket.

And the HPP points are notoriously higher dollars per point than HRC. See post #67.

But you are using logic and facts, which do not benefit the salesweasel....

 

[ArizonaSun4Fun]

We just went to a sales presentation this morning at Bonita Springs. We own a deeded week (1300 points) at WOR since 2006 and 660 portfolio points. At the presentation, the sales rep basically pushed us selling back our deeded week. He told us that the maintenance fees were going way up and most deeded properties will probably default because it doesn’t make sense to keep paying the maintenance fees.

The offer was to take back our deeded week and for $7400 we would get 680 portfolio points. When I told him (Rich) we did not want to do it, he became very rude, telling us we would be loosing money if we didn’t do it. Then he went on to tell us we needed to sign a form saying we wound never be offered this again. We did not have to sign anything. He didn’t even walk us out, just told us to go to the front to get our gift cards. The ladies at the front were rude as well and just told us to not loose the cards that they would not replace them.

So it sounds like they are still “buying back” deeds, as long as you are willing to pay.

I believe that the sales office at Coconut "Cove" is aggressively trying to upgrade current owners to the Portfolio program by offering the full value of whatever was paid to the developer by the original owner toward the conversion of deeded weeks to Portfolio points. One of the reasons is to get Portfolio ownership up to the level so that they can get control of a "rogue" Board that is causing them difficulty, and if they lose their lawsuit or settle with what they view as unfavorable terms, they will have control of the Coconut Cove BOD to control future decisions.