- Feb 28, 2014
- Reaction score
- MI Washington
- Resorts Owned
- Sheraton Vistana, Waikoloa Bay Club, Hyatt Pinon Pt
We went to an owner's update on our first ever stay at a Hyatt resort (exchange into Highlands Inn). The hybrid offer was the same, approx $16K for 1000 portfolio points.I went to an owners update today in San Antonio. We own two weeks both purchased on the resale market many years back. One a diamond and another a low point every other year.
The presentation was well done and the sales rep was very convincing. We gave it serious thought but ultimately decided not buy into the hpp program at this time. I share a few observations. Determining fact from fiction is often difficult in these types of presentations, and clarification and input by others would be helpful.
1. I was told that hpp points are now up to 21.10 a point. I was given options to first buy 1100, 1000, and then 660 points at 20 a point. When I told them I had purchased resale weeks years ago, they checked their computer and offered me a 1000 package at 16.81 a point, which honestly seemed like a good deal. I'm curious if others have been offered below retail rates? And if so at what terms?
2. They said that I had the option to move my hrc weeks into portfolio at the begining of every year. I would pay the hrc week maintenance fee which in my case is very low at 1250 per week and a 137 transfer fee, which would still be significantly lower than paying the hpp maintenance fee on the same amount of points. If this is the case why would anyone buy HPP outright ?
3. They explained various features of the hpp programs. Points good for three years, longer reservation periods, options to book one day at time, no booking or split week fees for portfolio reservations, and access to portfolio weeks. Sounded very promising. For the right price I think I would do it.
4. I asked about signing away my 1300 point every other week to them for free as part of the deal. They didn't want it..not even for free. What does one do with these types of weeks? (I purchased it before I found kal's very helpful website).
Was told to have my 2000 pt Pinon unit participate in HPP we would need to buy 1/2 more of our 2000 pts as HPP points. I forget what the maintenance fee was per HPP point, but probably about 50% more than my Pinon MF/point cost. Also the Hawaii-Maui resort is not included in the portfolio group of resorts.
There's a trust behind the portfolio program; and sales said HRC had seeded it with a good number of units, so not depending upon owner participation for units. I don't know how accurate that is, or whether these are low season units. Anyway it sounded fairly similar to DC program. I can see where HPP would be beneficial to HRC owners who own multiple use weeks at different times of year. But entry price is pretty high, and with uncertainty of MVC changing existing HRC and HPP, there's no reason to buy in IMO.