Hyatt Pure Points Program

[davevt98]

Here is a summary on the new Hyatt program.

The Timeshare Guru

 

[lizap]

I am still waiting on the 'official' announcement from ILG to legacy owners that will detail our options. I suspect very few of us will be motivated to exchange...still a lot of unknowns.

 

[Tucsonadventurer]

I am confused. Besides Hawaii are there other states that won't be in the Points Program?

 

[sts1732]

I am confused. Besides Hawaii are there other states that won't be in the Points Program?

As I understand it, at this time because of AZ. state law, pinion pointe will not be part of it(pp program). There was legal issues involving the PP program, and I have not heard of a conclusion yet. In looking thru the new rules regarding HRC and HPC, pinion pointe one that does not have a termination date. I take that as a good sign(fingers crossed).

 

[Cropman]

The sale, lease, or transfer of Vacation Ownership Interests in this multisite Vacation Ownership Plan is restricted or controlled.

Generally, an Owner should expect substantial competition from the Trust Developer and should expect no established resale market if an Owner desires to resell a Vacation Ownership Interest.

Geez, these two statements make me want to spend $40k for a week. Ahhh, what the heck,may I please have two Diamond weeks worth of points please?

 

[Kal]

The sale, lease, or transfer of Vacation Ownership Interests in this multisite Vacation Ownership Plan is restricted or controlled.

Generally, an Owner should expect substantial competition from the Trust Developer and should expect no established resale market if an Owner desires to resell a Vacation Ownership Interest.

Geez, these two statements make me want to spend $40k for a week. Ahhh, what the heck,may I please have two Diamond weeks worth of points please?

They seem to be saying is this is not real property but simply points. The inference is you can't sell points. Once you're in, you are in and they will come after you if you stop paying dues @ 18% interest.

I would love to go to a presentation as a newbie off the street. But then they will ask for ID and quickly find I am a HRC owner. Even then I would say I don't want to surrender my weeks, but rather buy in straight up. That of course would twist their tail a bit as they would have to come clean. All's left is the sizzle and a boat load of $$$$$.

 

[lizap]

I am confused. Besides Hawaii are there other states that won't be in the Points Program?

I don't know where it now stands, but Pinion Pointe was originally included in PPP. Hawaii, Breckinridge, and the Beaver Creek resorts are not in PPP.

 

[DazedandConfused]

They seem to be saying is this is not real property but simply points. The inference is you can't sell points. Once you're in, you are in and they will come after you if you stop paying dues @ 18% interest.

I would love to go to a presentation as a newbie off the street. But then they will ask for ID and quickly find I am a HRC owner. Even then I would say I don't want to surrender my weeks, but rather buy in straight up. That of course would twist their tail a bit as they would have to come clean. All's left is the sizzle and a boat load of $$$$$.

show up as a newbie and say you forgot your ID or feel uncomfortable giving it up for a tour

 

[Tucsonadventurer]

I don't know where it now stands, but Pinion Pointe was originally included in PPP. Hawaii, Breckinridge, and the Beaver Creek resorts are not in PPP.

I can't imagine Sierra Keys in it either as fractional ownership.

 

[Tucsonadventurer]

I can't imagine Sierra Keys in it either as fractional ownership.

Siesta Keys. My auto correct keeps changing it

 

[WalnutBaron]

While there are still a lot of additional details to be released before we fully understand what HRP entails and what it means to HRC owners, one thing that is clear now is that HRP has been created with one goal in mind: profit maximization, to the detriment of HRP owners. Those owners will be locked into a system where the developer will be competing with them on potential rentals, will be actively creating a negative resale environment, and will be aggressively raising MF's after the short guaranteed rate (which is much higher than what most HRC owners currently pay) expires.

The most ominous thing I see for us HRC owners is the new status tiers created, and the fact that we all fit into the lowest rung--"Non-Authorized Resale Owner". There is no clarification for what this means. If it means we have no status within HRP, I have no problem with that. If, on the other hand, it means that HGVV is going to attempt to breach HRC (legacy) owners' rights within the HRC network, they are going to have a huge fight on their hands.

 

[lizap]

You are correct-SK is also not included. I tend to forget about this one.

I can't imagine Sierra Keys in it either as fractional ownership.

are. Orrect

 

[lizap]

While there are still a lot of additional details to be released before we fully understand what HRP entails and what it means to HRC owners, one thing that is clear now is that HRP has been created with one goal in mind: profit maximization, to the detriment of HRP owners. Those owners will be locked into a system where the developer will be competing with them on potential rentals, will be actively creating a negative resale environment, and will be aggressively raising MF's after the short guaranteed rate (which is much higher than what most HRC owners currently pay) expires.

The most ominous thing I see for us HRC owners is the new status tiers created, and the fact that we all fit into the lowest rung--"Non-Authorized Resale Owner". There is no clarification for what this means. If it means we have no status within HRP, I have no problem with that. If, on the other hand, it means that HGVV is going to attempt to breach HRC (legacy) owners' rights within the HRC network, they are going to have a huge fight on their hands.

Isn't everything eventually a resale when original owners decide to sell (unless ROFR is exercised)?

 

[Kal]

Isn't everything eventually a resale when original owners decide to sell (unless ROFR is exercised)?

If the unit is sold thru a firm "authorized by Hyatt", then it's a proper resale. Or if an owner contracts with Hyatt to sell their unit, then that's an acceptable sale. If Hyatt doesn't get a cut of the deal, then it's BAD.

 

[Sapper]

Per the definition of "non authorized resale", it only states "HPC", not HRC. Because they specifically leave out the HRC, I do not see this impacting us (current owners in the HRC), but absolutely impacting future owners in HPC. I see this as the developers means to reduce future competition in the resale market.

Also, the Hawaii, Siesta Key, 2 @ Beaver Creek, Breckenridge, North Star, and Puerto Rico properties do not seem to be included at the current time. However, that may change in the future.

One odd thing, on the first page of the document, it was stored under "Westin" on someone's G drive.

 

[Kal]

I find it interesting that the specific names of officers are included in the rules. Very odd as one would normally expect it would include just the title of applicable officers. It's almost like a power grab (or job security) where the rules would have to be changed if someone leaves the position.

 

[Tucsonadventurer]

Per the definition of "non authorized resale", it only states "HPC", not HRC. Because they specifically leave out the HRC, I do not see this impacting us (current owners in the HRC), but absolutely impacting future owners in HPC. I see this as the developers means to reduce future competition in the resale market.

Also, the Hawaii, Siesta Key, 2 @ Beaver Creek, Breckenridge, North Star, and Puerto Rico properties do not seem to be included at the current time. However, that may change in the future.

One odd thing, on the first page of the document, it was stored under "Westin" on someone's G drive.

That leaves out 7 properties which means they will need to add at least that Many.At one point there was talk of including some Westin. Any rumors on new properties besides Aruba?

 

[heathpack]

That leaves out 7 properties which means they will need to add at least that Many.At one point there was talk of including some Westin. Any rumors on new properties besides Aruba?

Why do they need to add any resorts? I don't follow your logic. If they sell points with access to N-7 resorts and people buy into that, it's all good.

 

[heathpack]

BTW.

Yesterday my exchange request came through for a 2BR unit, 4 night stay at Highlands Inn. March, which is a beautifully vibrant green week to be in Carmel.

I was noodling around the HRC website and there's a weirdly nice amount of inventory available right now: full weeks at Kaanapali, Sunset Harbor. Some nice Sept Aspen and Tahoe weeks. More than usual.

 

[Tucsonadventurer]

Why do they need to add any resorts? I don't follow your logic. If they sell points with access to N-7 resorts and people buy into that, it's all good.

I can't imagine that would entice new folks with such a limited pool but who knows

 

[Pathways]

Why do they need to add any resorts? I don't follow your logic. If they sell points with access to N-7 resorts and people buy into that, it's all good.

I can't imagine that would entice new folks with such a limited pool but who knows

Maybe he is saying 'It's all good' as in "they won't make many sales, so it won't take much away from the HRC owners"

 

[DAman]

BTW.

Yesterday my exchange request came through for a 2BR unit, 4 night stay at Highlands Inn. March, which is a beautifully vibrant green week to be in Carmel.

I was noodling around the HRC website and there's a weirdly nice amount of inventory available right now: full weeks at Kaanapali, Sunset Harbor. Some nice Sept Aspen and Tahoe weeks. More than usual.

Lucky you. We just returned from a quick two night stay at H Inn. I love June gloom in Carmel. Ok I love Carmel. I'm keeping my eye on two bedroom units for next June.

 

[WalnutBaron]

As you're probably aware, there are only a handful of 2BR units at Highlands Inn. You could be waiting a long time for that one.

 

[heathpack]

As you're probably aware, there are only a handful of 2BR units at Highlands Inn. You could be waiting a long time for that one.

The interesting thing is: I've heard people say this before, so I never requested a 2BR unit, I thought they'd be too hard to get.

But I put in my exchange request around a month ago, and just got my new set of points a week ago and then: match.

Maybe June is more popular than March, certainly the points charts would suggest so. But the only time I ever stayed at Highlands Inn in summer, it was in the 50s and we had SoCal clothes. It wasn't that great IMO.

For various logistical life reasons, Feb/March/April works well for us and the lush green-ness of the area always amazes us!

 

[DAman]

As you're probably aware, there are only a handful of 2BR units at Highlands Inn. You could be waiting a long time for that one.

There are five two bedroom units at Highlands Inn.

You never know at six months what will show up in the inventory. I got a two bedroom for early August a couple years ago. I'm always looking as it is my wife's favorite.