Need some Hyatt buying advice

[wolverines]

Hey everyone. Just wanted to see what you think of Coconut plantation and most importantly, this price on 2000 points. I was reading many of the posts before coming here and (I think it was Carmel85) it was suggested to get at least 2000 points if possible. We've got 3 little kids so more often than not we need 2BR units.

They are asking 29k for 2,000 points (MF $930/yr). They'll throw in 95,000 Hyatt hotel points for joining.

I'd have to say that we'll rarely come here so it most likely would be for the points. We'd probably use some of the ski resorts, maybe puerto rico and then either trade into Interval or into hotel rooms. If they do build Bermuda I can see us going there often (we live in the NYC area), but I can only imagine what the cost would be to get in there.

Like anyone else getting the hard sell, we have a day to decide (or 10 days if we put down the deposit on a CC) so I hope some of you are around for some price advice!

Thanks!

 

[steve1000]

It is a beautiful resort as are all the Hyatt Vacation Clubs (certainly all the HVC resorts I have visited). If you are primarily interested in the HVC points -and aren't planning on using your actual week/unit of ownership in most years - you are best off buying resale at whatever HVC resort you can get the point value you're seeking (i.e. 2000 points) at the lowest price. You might want to look for weeks at Hyatt Beach House (Key West), Pinon Pointe (Sedona), or High Sierra (Tahoe) as they are often the least expensive on the resale market. I would guess that if you search a while you would be able to find a 2000 point week for $15-16k (maybe better). HVC is terrific - we love it and find it very flexible! Good luck!

 

[wolverines]

We got in Saturday so our paths may have crossed! Short stay for us though. We head out on Tuesday. The place is very nice. I just think we'll want to change it up quite a bit. And the weeks that we'd typically travel (around the kid's school) are the prime weeks and they are sold out (diamond level or 2200 points). I don't picture us coming here during the summer. Either February break or Easter break are the best for us. I wish I would have brought the laptop or done some more research prior to coming but just didn't have the time.

Do you have any thoughts on the pricing they are offering? Do you own at Coconut or somewhere else and your traded into there for your stay?

My gut says buy resale to get the most points at the lowest cost but I'm torn because someone also had the advice to buy where you'd use it the most, i.e. get a week at a resort that you'd use, so if you didn't trade out you always have that week.

 

[sullco]

I think you should ask them what WCI intends to do in the build out of the Coconut Plantation resort. It appears to me that the project is "stuck"--this could be good in that fewer people will be using the amenities, but it could be bad in that it will be a big financial disaster for the HVC/WCI partnership.

What are they telling you ?

 

[wolverines]

I think you should ask them what WCI intends to do in the build out of the Coconut Plantation resort. It appears to me that the project is "stuck"--this could be good in that fewer people will be using the amenities, but it could be bad in that it will be a big financial disaster for the HVC/WCI partnership.

What are they telling you ?

They didn't mention WCI at all, probably because that would have opened questions they didn't want to answer. They did say 4 buildings won't get built because of a bald eagle's nest that they can't touch. Not sure if that's true or if it's WCI. I know from work that WCI is a disaster so you've got my mind working OT right now. They did say they are almost sold out of the 3 buildings here now and have a permit to get the 4th building going and that they plan on raising prices for that one 30%. Not sure how much of that is the sales pitch though.

What had you heard?

 

[wolverines]

My wife just thought of a question - if I buy resale can I still convert the HVC points to Hyatt hotel (gold passport) points? If I recall correctly from my visit to Atlantis a few years ago that was the pull to get you to buy from developer. A resale could not be traded for the hotel points. I would hope to not use the hotel points but in any given year I may need to convert to something that I won't lose.

Sorry for the barrage of last minute questions and thanks for the help.

 

[steve1000]

You're correct - if you buy resale you don't get the Hyatt gold passport (hotel) points or ability to convert your HVC points to gold passport points for hotel use -but given the conversion ratio - I think the sense of most on this board is that this feature is not worth the substantial premium in cost.

Note that if you feel you cannot use the HVC points in a particular year you can bank them with Interval Intl for a future exchange that can be used for an additional 2 years beyond the regular usage year (you just can't exchange back into an HVC property once the points are banked with Interval).

I am a resale owner at both Coconut Point and Beach House. We absolutely love going to Coconut as its a short getaway from where we live. While I generally agree that you should buy where you want to vacation most often - I think that is less true with Hyatt (vs some other timeshare systems) because of the way their system operates. We have found the HVC system to be very flexible and with some advance planning we've never had a problem getting the reservations we wanted. We have also banked points with Interval and have gotten some great exchanges into terrific (non-HVC) resorts! I own with several of the major hotel timeshare developers and Hyatt is my favorite because of the flexibility, great resorts and interesting locations!

 

[mesamirage]

Wolverines,

#1- Do NOT buy from the developer.

#2- DO NOT BUY from the developer.

There are no good reasons to pay an extra $12,000-$15,000 for the same week you can get resale.... NONE. Please save yourself the money and begin the hunt for a great resale week.

Sorry to be so blunt but you seem to be reaching for validation to justify purchasing from the developer. If you already have... Immediately cancel your contract.

The concerns you bring up are valid... here are the answers.

If you want Coconut Plantation then buy a resale unit at the resort... you can find one... I see them ALL the time. So no worries about purchasing where you want to stay.

Hotel points... Hotel points?? Do bite the bait, they are the absolute worse use of Hyatt points possible... even if you lose points from time to time (which you wont with some planning) it still does not justify the extra $15,000!!! What you might lose $300 in points once in awhile for planning... that would only take 50 years to make up the losses of buying from the developer... plan ahead, deposit in II if you think you cannot use the points in any certain year.

Enjoy and Happy Hunting!!

 

[benjaminb13]

HI Wolverine,
Are you in the west coast?

Mesamirage is right. Buy resale
Let me tailgate, Yes , when you buy resale you lose the conversion to the hotel point option--- the truth is, they really are not worth it.
like most of us, you will probably enjoy HVCs great resorts and wonderful/ flexible point program so much you will forget you ever thought about the hotel points. I know I did.

Be patient- you will save so much money you will thank us later-

 

[wolverines]

One answer and one more question.

WCI is the builder and has probably slowed the project a bit, but the eagles are the main issue. They said Hyatt is likely to buy out WCI and get a new builder.

Question on resale units. They said you cannot combine the points if you buy 2 resale units. Is that true? Not that I'm contemplating jumping in with 2 but one never knows in 10 years. It seems like lots of you have 2 units (or more) so hopefully you can answer that.

Thanks.

 

[steve1000]

Not true about not being able to combine points! As long as the ownership is titled in the same exact name(s) - they can be held in the same HVC account and the points can be combined. That's how I own mine and the points from my two resale units are combined.

 

[mesamirage]

My (3) units points are all combined with Hyatt.... no issues.

You just have to respect the honesty of the timeshare salesman....

 

[wolverines]

Thanks. That's what I thought about combining points. I'm not sure this guy was trying to mislead me but I am sure if he didn't know he'd tell me what he needed to try and sell the unit.

Does anyone have any good recommendations on where to search for resales? I've done the standard google search and get a bunch of results but I'm not sure which is reputable and which isn't. Is there a good $ per point ratio I should target? Going to Kal's sight shows some 2200 point units going for under $20k, or 8.5 or 9 per point. The current listings are in the 12 range per point.

Thanks.

 

[Floridaski]

Try red week first

We actually went to 3 different Hyatt presentations and purchased from Coconut Point from the developer. We knew better, but we got caught up in how nice the Hyatt's were - and we were running out of the cheap preview stays!

Anyway, we came to our senses and canceled the day we got back from Coconut Point. Hyatt could not have been nicer and we then purchased a resale at The Beach House in Key West. We have been to Coconut Point 3 more times since our purchase.

I renewed my red week membership to get an immediate feel for the Hyatt resale market. We saved about $8,000 dollars - so the $10.00 I paid for the red week membership was well spent. I purchased from a Real Estate broker down in Key West. I made an offer to an owner and she counter the offer and we finally settled on a price. I did contact about 8 owners before I finally found the one that was willing to accept our offer. You can purchase 2000 point weeks at The Beach House for around 16,000. You may even find one cheaper - who knows. You do have to pass ROFR - but you do get your escrow back if Hyatt takes the unit. They still have units at Winward Pointe for sale - so you may be fine at The Beach House with a low offer. Less safe at Sunset Harbor - at least IMO.

Good luck!

 

[benjaminb13]

We actually went to 3 different Hyatt presentations and purchased from Coconut Point from the developer. We knew better, but we got caught up in how nice the Hyatt's were - and we were running out of the cheap preview stays!

Anyway, we came to our senses and canceled the day we got back from Coconut Point. Hyatt could not have been nicer and we then purchased a resale at The Beach House in Key West. We have been to Coconut Point 3 more times since our purchase.

I renewed my red week membership to get an immediate feel for the Hyatt resale market. We saved about $8,000 dollars - so the $10.00 I paid for the red week membership was well spent. I purchased from a Real Estate broker down in Key West. I made an offer to an owner and she counter the offer and we finally settled on a price. I did contact about 8 owners before I finally found the one that was willing to accept our offer. You can purchase 2000 point weeks at The Beach House for around 16,000. You may even find one cheaper - who knows. You do have to pass ROFR - but you do get your escrow back if Hyatt takes the unit. They still have units at Winward Pointe for sale - so you may be fine at The Beach House with a low offer. Less safe at Sunset Harbor - at least IMO.

Good luck!

I hear they have been ROFRing Beach House at 16000 since they sold out.
I hope Im wrong- Should be worth a try.

 

[bdh]

Does anyone have any good recommendations on where to search for resales?

Thanks.

Try RE/MAX Town Centre 1-800-699-5095 ext: 194 (Angie Edwards) I'm sure the quantity of their Hyatt listings varies from time to time - but she pulled up a Sedona 2200 pt week in about 2 minutes the 1st time I spoke with her. Over the course of 3 phones calls in 4 hours, the offer was made, accepted and contract written. Took 3 - 4 weeks to hear back from Hyatt on the ROFR, but it passed.

While there is some merit to the "if you going to stay at 1 HVC location 50% of the time - buy there" thought process, you have to be using your HRPP unit/week for this to be true. IE: if you own CP week 16 and always trade for summer time CP weeks, there is no advantage in being a CP owner.

However, we've found that by staying at the various HVC properties thru the years, we have developed favorite properties and particular units - so we searched and found those specific units on the resale market and now use those weeks/units religously. The Sedona week will be used just for points - thats why we bought a 2200 pt week. The various posts that say maintenance fees on owning multiple lower point weeks add up over the years is 110% correct (the MF on a 1400 pt week is just about the same as a 2200 pt week). Note that Beach House and Sedona do have some of the lower MF in the Hyatt system.

 

[wolverines]

Just an update. We resisted the temptation and are now searching resale. Thanks again for all the last minute help. I'll check with remax and the others suggested and keep you guys posted. Seems like the goal is to shoot for a 2200 point week for around 20k at one of the lower MF resorts (of which CP is one from what I've read).

Out of curiousity, has anyone used their HVC to trade into either Disney or Atlantis? Those are the other places the family really liked. I have no desire to own at Disney but can see us going there a few more times before the kids get older and now that we've stayed at an actual timeshare we cannot go back to a hotel room. They also really like Atlantis and wouldn't mind going back there, but not in a hotel.

Thanks.

 

[PA-]

I hear they have been ROFRing Beach House at 16000 since they sold out.
I hope Im wrong- Should be worth a try.

$16,000 for a diamond or platinum?

 

[Jolson]

Glenn at www.atimetoshare.com I believe deals with a lot of Hyatt inventory. I've not actually purchased from him but I have corresponded with him on several different occasions and he has been very helpful providing information. I believe he has a current listing for Hyatt on e-bay at this link

http://cgi.ebay.com/HYATT-KEY-WEST-...ryZ15897QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Good luck.

 

[Floridaski]

I would still start at Red week

I would still start at red week, folks like Glen get their weeks many times via For sale by owner at sites like red week. After we closed on our Hyatt resale, I got a call from the owner a few months later. She was about to sell her second week to a "guy" who was going to resell the unit. I know he was going to resell the unit since I had made offers to purchase units he had for sale prior to purchasing hers. We just did not need 2 weeks, since we own multiple weeks already. I felt bad for her and I wish I knew somebody that needed it. I think it passed ROFR at around 16 for 2000 points. Granted this was 3 years ago, but The Beach House was already sold out there and I think 16K for 2000 points is a good place to start for Beach House. You can always try again if it goes back on ROFR.

Another thing to ask is "when did you purchase your unit" , I was told that ROFR is sometimes based on what the owner originally paid for the unit. The lady I purchased from had bought the week at pre-construction prices before the resort was even open. I am not sure this is a fact, but the real estate broker that handled the deal had worked for Hyatt for 2 years - so he might have been correct.

Good luck and try red week first!

 

[bdh]

Glenn at www.atimetoshare.com I believe deals with a lot of Hyatt inventory. I've not actually purchased from him but I have corresponded with him on several different occasions and he has been very helpful providing information. I believe he has a current listing for Hyatt on e-bay at this link

http://cgi.ebay.com/HYATT-KEY-WEST-...ryZ15897QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Glenn does sell a fair amount of HVC weeks. But I would call him as I don't think he lists all of the high pt weeks (2000 or 2200) on his website.

 

[dvc_john]

I think you should ask them what WCI intends to do in the build out of the Coconut Plantation resort. It appears to me that the project is "stuck"--this could be good in that fewer people will be using the amenities, but it could be bad in that it will be a big financial disaster for the HVC/WCI partnership.

What are they telling you ?

I'm at the resort now, and at the owner's meeting this week they said that they are very close to getting approval from the wildlife people to begin building. The plan to add 2 more buildings as soon as possible, but they will be a little bit larger (5 floors instead of 3, exact same size units and floorplans). One building will be next to building 3, and the other will be on the other side of the check-in building.

 

[ScoopKona]

Hi...

I'm a former Hyatt salesman -- and a current Hyatt owner. (I bought a week for myself. I didn't buy a resale, because when you get down to it, the resale weeks are rather limited, and if you want "such-and-such view" for "such-and-such week" at "such-and-such resort" you had better buy it. I wanted my "worst case scenario" to be Key West for the Boat Parade.)

I've seen a lot of posts extolling the virtues of buying 2000-2200 point weeks (Diamond or Platinum). Instead of the lower-priced weeks.

Why, I wonder?

When you get down to it, when you exchange, a point is a point is a point is a point.

Two (2-bedroom) bronze weeks @ 2,600 points works just as well in the system as one 2,200 point diamond week -- IF you know how to work the HRPP system.

Let's assume X-mas in Colorado. That means week 51 most years. So count back 26 weeks from that and you have week 25. In order to get an exchange with HVC, you need 2200 points that come good SLIGHTLY prior to week 25. So buy two week 24 in Key West, and save several thousand over the least expensive Diamond week in the entire system.

As soon as your points become active, get on the phone and ask for Breck, Beaver or Aspen (simultaneously) for week 51. You're six months + 1 week out, and as soon as all those Colorado users start exchanging, you move up the wait list.

I've got a "measly" 1300 points that I've seen more than a few users scoff at -- I've managed to exchange it for a month in Europe (summer with some banked points), for three weeks in the Caribbean (diving), and this year for a week in Napa (X-mas), a week in Utah (now) and a few days in Carmel (X-mas). I travel mainly in the summer, so I own a December week.

If I need more points, I'll buy the least expensive 1300 point package I can lay my hands on. Because a point is a point is a point. (Unless you need a certain week at a certain resort every year.)

 

[bdh]

I've seen a lot of posts extolling the virtues of buying 2000-2200 point weeks (Diamond or Platinum). Instead of the lower-priced weeks.

Why, I wonder?

For most, it is the basic math of money and points.

Using the lowest cost for possible purchase prices and maintenance fees the equation would be - Two 1300 point resale weeks at $7,500 each equals 15K - their yearly MF of $900 each equals $1,800. One 2200 point resale week would be 19K and have a similar $900 MF. So in 5 years the MF's on the 1300 point weeks will total $9,000 while the MF's on the 2200 point week will be $4,500. So the 4K purchase price savings of buying two 1300 point weeks has now been burned up by the MF and each year after that will put you farther in the red.

No doubt that with the two 1300 point weeks you will have an extra 400 points to use over the one 2200 point week, however as the MF's continue to eat your lunch, the value of the extra of the 400 points is eroded. Note that since I've used what I believe to be the lower end of resale prices that will pass ROFR and cost for MF, I'm sure you can plug in other numbers to make the equation produce a different scenario.

Regardless of what point value weeks are purchased, if bought correctly (minimizing cost) and used correctly (maximizing usage), the HVC timeshare product is hard to beat when it comes to bang for the buck - the examples of your usage, while not typical, shows what can be done with manipulation of the points.

 

[ScoopKona]

Diamond weeks can be had for $19K?

If so, well, cool -- get one or two or three. Hyatt isn't exercising right of first refusal on a "less than half-price" Diamond week?

[I'm not being sarcastic here, just that I personally have never seen such a deal.]


The added advantage of buying multiple less-expensive weeks is the ability to have two-or-more "outs" -- so long as the weeks purchased are in desirable places/weeks, that gives the owner the ability to say, "fine -- If I can't get the olympics in Beijing, at least I have July 4 in Key West.

Incidentally, I DID get the Olympics this year. But when the riots started, I cancelled and went for Napa for Christmas. Not exactly my first choice, but it shows the trading power.