Hyatt System & Transfer Fees

[Robert D]

I've read quite a few threads and a lot of Kal's site regarding the Hyatt system. But am still trying to get a better grip on the Hyatt system. My sense of it is that Hyatt is really a points based system for all but the most sought after weeks / resorts in which case it is really a fixed week system. I know that the system is based on a fixed week system but each week comes with a specified number of points that can be used to exchange within the Hyatt system. The cost of those points can vary quite a bit depending on the resort and season. For instance, a prime ski week at Aspen or prime week at Carmel will cost a lot more than a prime week at Sedona, even though the number of points might be the same, say 2200. Am I correct in that assumption - Hyatt is really a points based system except for the highest demand weeks at the most exclusive resorts? If you own a 2200 pts. 2BR at Sedona, it's very unlikely that you'll ever get a 2BR at Aspen in week 52 even though it requires the same number of points - to get those most sought after weeks, you basically have to buy that week, which makes those weeks a fixed week system.

Secondly, I saw an Ebay auction where the seller says the transfer fee is $500 on top of the closing fee - is that what Hyatt charges or is that just the seller's inflated charge?

 

[bdh]

My sense of it is that Hyatt is really a points based system for all but the most sought after weeks / resorts in which case it is really a fixed week system.
Secondly, I saw an Ebay auction where the seller says the transfer fee is $500 on top of the closing fee - is that what Hyatt charges or is that just the seller's inflated charge?

The Hyatt system can be fixed or points - depends on how you use it. When you buy a Hyatt week, your deed will list a specific resort, week and unit. You are guaranteed that specific week and unit during the HRPP (Home Resort Preference Period) - the HRPP is the 1st six month period after your annual week is issued to you. So if you want to, you can use your owned week as a fixed week every year. If you do not elect to book your owned week during the HRPP, at 6 months and 1 minute your owned week passes from HRPP to CUP and you relinquish your guaranteed fixed week into the system for other Hyatt owners to book. At that time your fixed week is automatically converted to points for you to use for trading within the Hyatt or II system.

Note that you can also convert your fixed HRPP week to points as soon as the annual week is issued to you. If you want to travel to a different Hyatt resort or to your home resort on a week other than then the one you own, your fixed week is converted to points when your reservation request is filled.

The amount of points your week is converted to is based on the resort, season and size of unit that you own. A prime season Sedona 2 bd unit is worth 2200 points - just as a prime season Aspen 2 bd unit is worth 2200 points. When it comes to trading, it does not matter that the Sedona owner paid 35K for a prime week and the Aspen owner paid 100K for a prime week. Thats were the saying, "points are points" comes into play. No doubt that the 100K Aspen week will attract more requests than the 35K Sedona week - but the Hyatt system is based on first come, first served. As long as you have the points in your account when the Aspen week 52 unit leaves HRPP, your request will be filled. Again, if the Aspen week 52 owner does not book their unit within 6 months of the week being issued to them or they book another HVC property by converting their owned week to points, they relinquish their deeded fixed week to the HVC system for others to book.

The $500 resort transfer fee is for real - Hyatt raised the fee from $250 to $500 about 18 months ago.

 

[Kal]

The Hyatt system has all the advantages of both a FIXED WEEK and a points based system. With the fixed week, you have exclusive right to stay in the unit you purchased provided you make that decision 6 months prior to the occupancy date.

However, the system is otherwise a points system. Every year you receive your annual points. You don't receive a unit, but rather just points. But remember, you have exclusive right to stay in the unit you own. Once you make the decision to occupy your unit, the point value of your occupancy will be deducted from your points account. If you don't want to stay in your unit/week, nothing changes on your points account.

With regard to the Aspen Week 52 example, in theory those units are available if the owner does not occupy the unit. In actuality, because of the value of those units the owner would very much likely rent the unit outright for a substantial fee and not let it go to the HVC Club. $2000-$3000 per day is not out of the question for a unit that sold for >$650,000. So you are correct, if you want that unit/week, buy it.

 

[Robert D]

Thanks for the comments. I guess what I'm really asking is not mechanically how they system works, I think I have a decent grip on that, but how does it work from a practical standpoint. From what I can tell, it's really a points system in that if you have enough points, you can get pretty much any week at any resort you want except for the highest end properties such as Aspen and maybe Carmel, and also week 51/52 at many of the properties. Or is this not the case. An example would be getting a week at Tahoe from July to mid August or a ski week at Brekenridge in Feb or March. If the availability of prime weeks at most resorts is so tight that you only have a small chance of getting these weeks using your points, then my assumption is not correct.

 

[Carmel85]

Thanks for the comments. I guess what I'm really asking is not mechanically how they system works, I think I have a decent grip on that, but how does it work from a practical standpoint. From what I can tell, it's really a points system in that if you have enough points, you can get pretty much any week at any resort you want except for the highest end properties such as Aspen and maybe Carmel, and also week 51/52 at many of the properties. Or is this not the case. An example would be getting a week at Tahoe from July to mid August or a ski week at Brekenridge in Feb or March. If the availability of prime weeks at most resorts is so tight that you only have a small chance of getting these weeks using your points, then my assumption is not correct.

Robert,

I would listen to KAL he is 100% correct. If you want a specific week or resort then buy it. 51/52 very hard to get and summer in Hyatt Lake Tahoe are very hard to get and those in lake tahoe even sell for a premium July-August. So buy the week you want or don't be in the Hyatt game it is that simple.

 

[Kal]

The 2200 point weeks are hard to get using points, but for maybe 85-90% of the resorts it is do-able. For 2000 point weeks it's much easier. Owner occupancy is the key indicator as that means the owner has not relinquished all (or part of) his/her unit to the Club. The highest owner occupancy rate among all resorts runs about 60-70% during the 2000 point weeks. So that means there's opportunity.

To get those units you have to get on a waiting list early in the process and you cannot rely on last minute decisions.

 

[Robert D]

Thanks, Kal, that's what I was trying to get a feel for. Bottom line is that the Diamond Season (I think that's the 2200 pt weeks) are pretty tough to get at most of the resorts and 2000 pt weeks are doable at most resorts, and I assume 1880 pt weeks must be readily available at most resorts.