Anyone have any info on the new points program mentioned by ILG Chairman Craig Nash during their earnings call last week: "I'm excited to tell you that we're in the process of designing a new Pure Points club that will combine inventory from consolidated resorts in a form that can more easily be distributed through multiple sale centers. We will continue to offer our home week preference hybrid product for destinations such as Maui. But a Pure Points club will enable our sales to reach a wider demographic and tack on smaller upgrade sales on a more frequent basis. Given our expectations for completion of design and regulatory requirements, our goal is to launch this new offering late next year." Transcript available on IILG site.
It will be interesting to see exactly what the program will offer, but from reading over the transcript it basically sounds like a way for them to try to increase their revenue of HVO by trying to sell add-ons to existing owners and a new overall program that sells the Hyatt Residence Club as a whole vs weeks at individual properties.
They mentioned "According to Equifax data, existing Hyatt buyers have an average household income of almost $200,000. We believe it's one of the highest in the industry."
They also said:
"On the Hyatt opportunities, we see a lot of opportunities with the new Pure Points Club that we did announce just now. It is going to be real estate backed. All of the work on that is going to be done over the next year. So we have a lot of questions of our own. But basically, what it does is allows you to aggregate inventory into a vehicle and distribute that product at all of your sales locations as opposed to selling one product at those locations."
It sounds like they aren't even sure what they want to do with the Pure Points Program yet, other than try to find out how they can sell their inventory and make more money doing it.
