Hyatt now has a buy back program

[HappyRon]

Sent in our paperwork today, they had actually sent it through EMAIL a few weeks ago, fingers crossed.

 

[flowerpower86]

Interesting. Maintenance fees are raising like crazy.

 

[Maryfella]

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 am working with that program right now. They accepted me because my points were totally paid in full so they are just remove me from the obligation to pay annual maintenance fees and all. No, there is no reimbursement of the purchase price. For me, I’m willing to do this to get out of the obligation of annual fees. We bought into this under false sales tactics- that this program would help reduce increasing maintenance fees on our Maui property. So we bought in thinking we were prepaying some of the fees while also getting as a bonus lots of points to use at other resorts. Long story —but I just want OUT of this obligation. So… the program through Hyatt takes about 120 days, notarized papers etc. I’ll let you know if it actually works.

 

[Maryfella]

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.

Yes, I think they accepted me because deed was paid in full- then they can resell them. Good scheme. They have my $24000 Then they can resell it. And for me? I’m free of the annual maintenance fees but I’m out the cash. Lesson learned late in life

 

[calgal]

FedEx'd my signed and notarized deedback paperwork yesterday. We had a good run with our Hyatt High Sierra lodge, but with the Hyatt beach closed and Incline Village not releasing public beach access to timeshare owners, we will stay elsewhere.

 

[skimeup]

I started the buyback process in February, March or April? HIghlands Inn, Carmel. Received initial paperwork by email and immediately returned. Got documents from an escrow company in mid-May. Failed to note them and got a "hurry up" notice from escrow company. Filled out the forms pronto and didn't hear anything. Just logged into my account and it shows that I have one ownership left - Pinon Point. And it still shows the reservations I made on the points I had paid for as well as my points in II. Highland Inn has returned to its developer!

I purchased HIghlands Inn as resale (for$500) and was enjoying the use of the points (1880) mostly in II but also in Aspen and Vail. Two things happened to sour me. One is that maintenance fee on HI went up to over $2700 last year and the other is that Marriott - which owns II - raised the points cost of a one bedroom unit to 1500. It had been at 870 with 430 for a studio - studio has gone up as high as 700. Thus I previously could trade for two one bedrooms per year and every other now and then a studio. Or some combo thereof. Since they chose to charge me higher mf for a devalued property I chose to depart.

I was eligible because a) the unit was fully paid off and b) I had paid the mf for HIghland Inn on time. There was no charge for the transaction. I guess they want to take back weeks so they can put them into portfolio?

We'll see how much use I can get out of the 1300 points I have left at Pinon Point!

 

[trwellerjr]

Help, how do I get out of my Hyatt Portfolio? Maintenance fees are now higher than my deeded annual at Highlands Inn. Marriott is raising points cost again.

 

[MrAllnut]

I inquired with Hyatt on how to exit. I was told the use the exit link on the "Lounge" website. After summiting the required information I got a reply back saying the Exit program is on hold and MAY be active again in the summer of 2027. They did furnish this link:

If you choose to explore external resale options, we encourage you to exercise caution. Be wary of brokers who require upfront fees. Ideally, you should work with professionals who collect their fees and commissions at the time of closing. Please note that we do not provide broker recommendations or referrals, however we encourage you to refer to the American Resort Development Association’s (ARDA) Coalition for Responsible Exit, where you can find helpful resources

Has anyone tried using ARDA?

 

[TUGBrian]

the arda site just links back to the developers deedback programs...

 

[andre10056]

I inquired with Hyatt on how to exit. I was told the use the exit link on the "Lounge" website. After summiting the required information I got a reply back saying the Exit program is on hold and MAY be active again in the summer of 2027. They did furnish this link:

If you choose to explore external resale options, we encourage you to exercise caution. Be wary of brokers who require upfront fees. Ideally, you should work with professionals who collect their fees and commissions at the time of closing. Please note that we do not provide broker recommendations or referrals, however we encourage you to refer to the American Resort Development Association’s (ARDA) Coalition for Responsible Exit, where you can find helpful resources

Has anyone tried using ARDA?

Last year, despite getting some great Interval International trades after trading into II for the first time ever, I thought about selling. And, of course, I found this thread and thereafter explored what a deedback to Hyatt would entail. I think it was June or so.

By the way, it was a week 49, EOY even, Gold week at Hyatt Windward Pointe

"They" (apparently Marriott) responded by telling me that I could give up my ownership for zero dollars, but made it a point to tell me that I would not have to pay a resort transfer fee. And further informed me that I might not get any money for my timeshare but at least I would get out without paying anything.

But I thought about it and decided not to accept their "offer" (so to speak). And I furthermore didn't want to give up my week only for the developer to turn around and scam someone. I decided that I preferred to sell to a person, and would seek only a nominal amount of money.

But I got busy and didn't do anything. But I really didn't want to pay the 2026 maintenance fee. So I tried again with Hyatt/Marriott (in September/October or so), hoping that now they would pay something. And this time they responded by telling me that I would now have to PAY $300. And I was not interested in that.

I then searched through facebook for a Hyatt-oriented group, posted that I wanted to sell, and I got multiple responses. The rest is history as I filled out the contract, both parties signed it, the buyer agreeing to pay all transfer expenses, submitted it to LT Transfers after submitting ROFR papers (which was not exercised by Marriott), and the deed was filed with the county in November. And then the resort finished processing the change in mid-December or so.

 

[andre10056]

In addition, I looked for timeshare brokers that would NOT charge an upfront fee to list my timeshare. They'd only get paid if they successfully sold it.

And, in my opinion, a good source to find such brokers is myresortnetwork where, for whatever reason, those brokers have ads:

Hyatt Windward Pointe Resort in Key West, Florida - Timeshare Sales and Resales by Owner

Timeshare sales and resales by owner at Hyatt Windward Pointe Resort, Key West Florida on My Resort Network .

www.myresortnetwork.com

I talked to Angie Edwards and she told me she could sell at a very attractive net price. But I did not want to fill out a check for more than $2000 for maintenance fees if I might be able to quickly do something myself, so I never listed with her.

Angie Edwards

Angie Edwards is a Licensed Real Estate Broker for Fidelity Real Estate. She has extensive experience in real estate and timeshare resales.

www.fidelityrealestate.com

 

[tahoeJoe]

A few days ago I contacted Hyatt's deed back dept and they offered to take my deed if I pay a $400 administravive fee. They will pay nothing for my ownership, but I will no longer have to pay maintenance fees or club dues.

I own a gold week (week 5), a 2-bedroom/2 bathroom unit at Hyatt High Sierra Lodge in Lake Tahoe. Is the deed back offer a good proposal? Should I accept it? I think I could probably give it away here on TUG for free. Thoughts?

 

[andre10056]

A few days ago I contacted Hyatt's deed back dept and they offered to take my deed if I pay a $400 administravive fee. They will pay nothing for my ownership, but I will no longer have to pay maintenance fees or club dues.

I own a gold week (week 5), a 2-bedroom/2 bathroom unit at Hyatt High Sierra Lodge in Lake Tahoe. Is the deed back offer a good proposal? Should I accept it? I think I could probably give it away here on TUG for free. Thoughts?

Of the two options, I would prefer to give it away for free on TUG rather than have Hyatt be able to scam someone else for megabucks. I would hope that the recipient would enjoy multiple years of use/trading and then him or herself give it away for free.

But Hyatt doesn't make a "free" transaction too easy for you. They have a rather sizable $650 resort transfer fee. That, on top of the $300 or so closing company fee, means you might have to pay about a $1000 to give it away for "free", expenses you won't have if Hyatt's on the other side of the transaction.

Of course, you can offer it for free and ask that the "buyer" pay those expenses. So the buyer would incur $1000 in those types of fees. If you can find a buyer who would accept those terms, again I think that would be best.

Maybe, to make the deal somewhat sweeter, you could ask that the buyer pay those types of closing expenses, but then offer to give them a $400 credit. That way, you'd be able to be in the same exact financial position as if you deeded back to Hyatt.

Another complicating factor is that Hyatt makes their "offer" with a 7 day time limit. They really don't want you to try for a better transaction elsewhere. So, with the benefit of hindsight, it may have been optimal for you to first try those other options and then only come to Hyatt if those other options didn't work out.

So Hyatt's gone from "you pay zero" to "you pay $300" to "you pay $400" just during the last twelve months. And I just recently read someone on TUG saying that Hyatt was telling him/her that the buyback program had been suspended and perhaps might be started again during the summer. I don't know what that person owned so that may have been something pertaining to their Hyatt resort but not all Hyatt resorts.

But the constant changes in the deedback program is something to keep in mind. Who knows what their next offer may be if you try again later?

 

[dannybaker]

We have two separate weeks with Hyatt Welk in Escondido California, one is annual and the other is every other year. We actually love the resort and stay there every year. We are considering going to Hyatt to release both weeks. As we age we are not traveling as much . We have traded our Welk/hyatt weeks for DVC Almost every year since Disney moved to interval. We currently have a two bedroom for spring break at old key west. Our problem is we have to many weeks. So grateful to every one at tug.