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Passed Hyatt ROFR on 2 Purchases

ChicagoDave

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I just completed two resale purchases where Hyatt waived their Right of First Refusal. Is there a database where I can update the sale information? The only one I see is @Kal but it’s a PDF document on his website.

I originally signed a contract for 1,500 annual portfolio points at $30,000. After finding this website, I rescinded the purchase and bought annual use Diamond resale weeks at Highlands Inn and Pinion Pointe for 4,400 points at a total price of $15,500. Thank you to everyone on this board for all of your feedback!
 
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Scavanjer

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I would be interested in seeing the ROFR historical data as well. I'm looking at HKB and I'm thinking about making an offer through a 3rd party for a 2BR annual but I have no idea what price might be too low for this particular property. They are asking 49K but honestly, there is no way I'm paying that. I was thinking of maybe offering 15K but would love to see historical data to support my target offer price.
 

ChicagoDave

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I would be interested in seeing the ROFR historical data as well. I'm looking at HKB and I'm thinking about making an offer through a 3rd party for a 2BR annual but I have no idea what price might be too low for this particular property. They are asking 49K but honestly, there is no way I'm paying that. I was thinking of maybe offering 15K but would love to see historical data to support my target offer price.
Here’s the link with several pieces of information you may find useful. However, some of the FROR is a little old, so may not be relevant. Although the TUG/Redweek sale listing prices may seem high, not sure that there are many bargains to be found for HKB.
 

Scavanjer

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Here’s the link with several pieces of information you may find useful. However, some of the FROR is a little old, so may not be relevant. Although the TUG/Redweek sale listing prices may seem high, not sure that there are many bargains to be found for HKB.
Thanks. Did you send or include a link?
 

socaltimeshare

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2BR annual but I have no idea what price might be too low for this particular property. They are asking 49K but honestly, there is no way I'm paying that. I was thinking of maybe offering 15K.

Sounds like that would be approaching 80% off the developer's pricing depending on which week. Maybe a 2 bed annual for 15K could have gotten past ROFL during the transition from Interval ownership to Marriott, but I would think such a discount now would provide enough incentive for the developer to exercise ROFL and then resell the unit, unless it was a non-prime week the developer might struggle to sell. You would also need to find a desperate owner. Then again, there are always unicorns and there is no real harm in trying.
 

Naniac

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I just completed two resale purchases where Hyatt waived their Right of First Refusal.

…. bought annual use Diamond resale weeks at Highlands Inn and Pinion Pointe for 4,400 points at a total price of $15,500.

I’m jealous as I was just notified that Hyatt was exercising ROFR on my Highlands Inn offer (diamond week).:(
 
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ScoopKona

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I’m jealous as I was just notified that Hyatt was exercising ROFR on my Highlands Inn offer (diamond week).:(
Sorry to hear that. I'm at Highlands now. If I could trade my Key West week for one here, I'd totally make that trade.
 

Kal

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Sounds like that would be approaching 80% off the developer's pricing depending on which week. Maybe a 2 bed annual for 15K could have gotten past ROFL during the transition from Interval ownership to Marriott, but I would think such a discount now would provide enough incentive for the developer to exercise ROFL and then resell the unit, unless it was a non-prime week the developer might struggle to sell. You would also need to find a desperate owner. Then again, there are always unicorns and there is no real harm in trying.
Hyatt isn't selling units any longer, but if they take it, it goes into Portfolio. That way they can "sell" it many times over.
 

socaltimeshare

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Hyatt isn't selling units any longer, but if they take it, it goes into Portfolio. That way they can "sell" it many times over.

The developer is still selling HKB which the quote referred to.
 

socaltimeshare

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Correct, fortunately Hyatt is not the developer.
Do you have proof of this? My understanding is the developer (Maui Timeshare Venture, LLC) initially was a joint venture between a Hyatt affiliate and Host Hotels (current owners of the Hyatt Regency in Maui). I'm not sure if the portion of the joint venture belonging to "Hyatt" was sold as part of the sale to Interval and then possibly sold again to Marriott Vacations Worldwide OR if the developer are still the same entities from 2012.

https://finance.yahoo.com/news/host-hotels-completes-jv-hyatt-164908677.html and https://www.hosthotels.com/Properties/Domestic/Hawaii/Hyatt-Regency-Maui-Resort-and-Spa.
 

ScoopKona

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Do you have proof of this? My understanding is the developer (Maui Timeshare Venture, LLC) initially was a joint venture between a Hyatt affiliate and Host Hotels (current owners of the Hyatt Regency in Maui).

Hyatt has never done one of these solo. In Key West, they partnered with one of the local families which owns everything. That greases the skids for permitting and such.
 
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