Hyatt ROFR Is this for real?

[Lingber]

In looking through ebay Hyat Vacation Club listings I came across a listing where a bidder had asked about ROFR. The seller posted the following which seems to have come from Hyatt:

Hello,
Yes, the Developer has FROR. It is in the original Purchase Contract that the Developer has the option to match the terms and conditions of the contract between you and the buyer(s). This is generally submitted by the attorney/title company you hire for the closing. If you would like to submit the FROR yourself please fax or email me a copy of the contract signed by the seller and buyer and I will submit it to the Developer for their decision. They rarely buy anything so it is more of a formality than anything. You would close as normal with your attorney or title agent once you receive the Developers decision. The Club Rules and Regulations outline the resale process and the Club requires a recorded copy of a deed from you to the buyer(s) and the $500 resort transfer fee. I generally see this fee as part of the buyers closing costs.

Please let me know if you have any further questions.
Thank-you,
XXXXXXXX
Hyatt Vacation Ownership

I was really surprised to see a Hyatt employee put this in print. ( I took out her name just in case)

 

[The Conch Man]

Do you really believe this statement for 1880 points or higher!!!!!! If it was me, I would contact Hyatt to ask this question & why this statement was made by the seller thru one of Hyatt's employee in St Petersburg or the seller really doesn't know the proceedings of an ROFR.

In looking through ebay Hyat Vacation Club listings I came across a listing where a bidder had asked about ROFR. The seller posted the following which seems to have come from Hyatt:

Hello,

Yes, the Developer has ROFR. It is in the original Purchase Contract that the Developer has the option to match the terms and conditions of the contract between you and the buyer(s). This is generally submitted by the attorney/title company you hire for the closing. If you would like to submit the ROFR yourself please fax or email me a copy of the contract signed by the seller and buyer and I will submit it to the Developer for their decision. They rarely buy anything so it is more of a formality than anything. You would close as normal with your attorney or title agent once you receive the Developers decision. The Club Rules and Regulations outline the resale process and the Club requires a recorded copy of a deed from you to the buyer(s) and the $500 resort transfer fee. I generally see this fee as part of the buyers closing costs.

Please let me know if you have any further questions.
Thank-you,
XXXXXXXX
Hyatt Vacation Ownership
450 Carillon Parkway, Suite 210
St. Petersburg, Florida 33716

I was really surprised to see a Hyatt employee put this in print. ( I took out her name just in case)

 

[Kal]

Please give me the initials of the name of the Hyatt person who signed the letter. That will give us a good idea of what this is all about.

 

[Floridaski]

Does the sellers first name start with a "G"

There is person, who I will leave unnamed and he purchases Hyatt weeks from owners who must sell. Transfers them in his name and then resales the weeks for a profit, quite a gig in my opinion.

His name starts with a G....

 

[Carmel85]

I kindly request that this thread NOT :ignore: publish any names of any HYATT employees on this board. It could cost them their job. May be send a PM with initials ONLY.

You never know who is reading and you should be very happy if you are getting good info but please do not put a great employee at risk.

I could care a less about this guy "G--N" who is a Hyatt(Key West) flipper!!! Or the guy up in Tahoe to is a former sales agent B--L of Hyatt. Both are very interesting people in their own special way.

Please let me know you thoughts but protect the Hyatt employees.

 

[bdh]

Hyatt ROFR Is this for real?

In looking through ebay Hyatt Vacation Club listings I came across a listing where a bidder had asked about ROFR.

I was really surprised to see a Hyatt employee put this in print.

After reading thru the original post and various replies, I say:

Yes, ROFR is for real. While you wont see ROFR activity with the vast majority of TS properties as they just aren't desirable enough to be profitable, you will see it with higher priced Marriott, Hyatt, Four Seasons weeks. I know buyers who have had their weeks taken by Marriott and Hyatt thru the ROFR process, so it is for real.

No, I'm not that surprised to see the Hyatt ROFR response in print - everything in the statement is 100% correct. The Dev does have the right per the contract, the pending sales agreement does have to be submitted to Hyatt for review, the percentage of weeks the Dev takes back thru the ROFR process is extremely small and a newly recorded resale deed must be sent to Hyatt (along with $500) for them to update the ownership of the week.

Yes, there are people who make a profit reselling Hyatt weeks (and the other desirable TS Dev) - you may not like their tactics, but what they are doing is not illegal.

No, you don't need to be Sherlock Holmes to get the name - I tried two ways (each took about 45 seconds) and got the same name both ways - but I don't see anybody getting in hot water over this - as they say "no harm, no foul".

It must be too early on a Saturday for me, as I am missing all the excitement over this.

 

[The Conch Man]

Carmel has sent me two "stupid" PM's again stating how stupid he really is! He wanted me to change my post, he's really a Cal idiot! Leave me alone Carmel & just post your stupid posts! If you want trouble, I'll give it to ya!

 

[Lingber]

I tried to remove the rest of the Hyatt person's info very soon after I made the post for the reason Carmel states. Originally leaving the phone number was an oversight. I was not trying to cause a problem for anyone, just ask if anyone else was surprised that Hyatt was so open about this.

They Hyatt rep did send this info out to an owner who then posted it on an eaby ad. Thought you tugger's would find it interesting as there is always so much discussion about ROFR.

 

[Pit]

After reading thru the original post and various replies, I say:

Yes, ROFR is for real. While you wont see ROFR activity with the vast majority of TS properties as they just aren't desirable enough to be profitable, you will see it with higher priced Marriott, Hyatt, Four Seasons weeks. I know buyers who have had their weeks taken by Marriott and Hyatt thru the ROFR process, so it is for real.

No, I'm not that surprised to see the Hyatt ROFR response in print - everything in the statement is 100% correct. The Dev does have the right per the contract, the pending sales agreement does have to be submitted to Hyatt for review, the percentage of weeks the Dev takes back thru the ROFR process is extremely small and a newly recorded resale deed must be sent to Hyatt (along with $500) for them to update the ownership of the week.

Yes, there are people who make a profit reselling Hyatt weeks (and the other desirable TS Dev) - you may not like their tactics, but what they are doing is not illegal.

No, you don't need to be Sherlock Holmes to get the name - I tried two ways (each took about 45 seconds) and got the same name both ways - but I don't see anybody getting in hot water over this - as they say "no harm, no foul".

It must be too early on a Saturday for me, as I am missing all the excitement over this.

I second this post. This information is well known to anyone who frequents this site. Don't understand what all the fuss is about.

 

[The Conch Man]

I totally agree, its the same person who knows it all bout Hyatt & his preaching bout Hyatt this & that, what an idiot he is, just for your information, he wants me to meet him in FL so he can whip-up on me! I told the idiot this was my last PM from him or me & to stop with the harassing as he is bout to join me in "HELL"!!!

I second this post. This information is well known to anyone who frequents this site. Don't understand what all the fuss is about.

 

[Carmel85]

For Hyatt owners and others that follow my posts,

I was just trying to state in writing to protect the Hyatt employee's, I really do not think that is to much to ask.

Yes I did sent the "conchman' a PM ask him to remove the name, address,phone number for any and all Hyatt employees.

I do not think this is unreasonable request.


Enough of this subject hopefully the conch will change one day for the good and stay away from the evil maybe.

 

[Kal]

Hey guys let's just focus on important information we are learning from the letter to the OP. What it says is Hyatt taking resales on ROFR doesn't happen very often. That's a nice nugget to help buyers go for attractive units at a bargain price. My concern is the validity of the letter. If it came from the right person, it's factual. If not, it's meaningless.

The fact that a Hyatt employee put something in writing is not our problem. We all know company rules and I can't believe a Hyatt employee (or any of us) would step over the line. Granted, we don't want to do anything that would cast an unfavorable light on someone, but gathering additional info to help us all be smarter seems to be a good approach.

Also, are we getting a little cranky because of a bad burrito or maybe "it's the economy"!

 

[The Conch Man]

I'm with Kal but he persists on sending me PM's & Carmel, have you read "BDH" & Pit's reply, didn't think so? As I told you before Carmel, I'm done with you & now I'll leave it up to the moderators & I'm 3 hours away from you, go back to Cal where you belong or Big Frank & I will visit you!

By the way Lingber, your not the problem, it was nice of you to post the information for all of us as "most" of us know what ya say bout "ebay" & its sellers of timeshares.

 

[Carmel85]

Lingber,

Thank you for removing the infomation I just do not want to see anybody at hyatt get into trouble. I know you understand.

Now if "conchman" would be a nice guy he also would remove all personal information.We will see.

Im sure conchman is NOT even a owner of HYATT are you?


Again I respect everybodys opinion but I do not need to be called names on PM then hid beheind others "big frank".

Lets get on our bikes and ride to meet anywhere here in Fl on Sundayand yes you can bring "big frank"

 

[Steve]

To say there have been violations of TUG's "be courteous" rule in this thread would be an understatement. No one should be harrassed, threatened, called names, or insulted as a result of anything they post here on TUG.

I'm closing this thread, and I hope everyone cools off a bit.

Steve
TUG Moderator