Question from Prospective HRC Purchaser

[escanoe]

I have been researching HRC for a while now and am considering buying resale a 2,200 point Diamond week at Key West (preference for Beach House). I am not in a hurry to buy and watching as the recession/COVID-19 unfolds. I have an interest mostly in using CUP points to book Key West and trading in II in the short term with a desired ability to rent the unit not at a loss if I choose. What are the odds of being able to use CUP points to get either a Thanksgiving, New Year’s, or week before Easter (our spring break) once every couple of years? I am going to be stuck working around a school calendar for at least the next 7 years. Thanks!

 

[travelhacker]

If you are interested in Key West for those holidays, they aren’t too hard to get.

You just need to make sure you put in a waitlist request.

Happy to answer any other questions.

 

[GTLINZ]

If you are interested in Key West for those holidays, they aren’t too hard to get.

You just need to make sure you put in a waitlist request.

Happy to answer any other questions.

I would agree that it is not too hard at that time of year to get a CUP reservation into Beach House or Windward Pointe - even without a waitlist - but the waitlist is still a good idea. However, it is never easy to get a reservation at Sunset Harbor unless you are very flexible and/or submit a very flexible request 18 months out.

 

[PerryKing]

and FYI, I belive it is against the Hyatt Residence Cub Rules to rent out anything besides the unit and time that you actualy own. (If that's what you meant by renting out)

I.e. Using your points to reserve (either through the club or II) and try then to rent out any unit, other than your own deeded unit and time or week, would be against the rules.

But it's possibble that you might get away with it at times, but just so you know, in case you do get caught or challanged over it. That's my understanding, I could be wrong, but dont think so, so You might want to check on that by reading the rules. In any case It might be a good ideal for you to read all the HRC rules before you purchase. They are posted on the club web site. Not sure you can access them if your not an owner, but im sure you can get them somehow, somewhere.

 

[ivywag]

PerryKing- you are correct. You can only rent your deeded week.

 

[Kal]

PerryKing- you are correct. You can only rent your deeded week.

However, an owner can provide a unit reserved under CUP to a "family member or friend". It's always fun to find new "friends" who you met online just a few days ago.

 

[escanoe]

That is what I thought/assumed. That's the same way my HGVC ownership works as well when it comes to renting out what you own. Thanks for everyone's comments. If I primarily traded using CUP, perhaps I should consider buying somewhere with a better $MF/point ratio. However, I am inclined not to do that because if there was disruption in the HRC system Key West would be where I want to be, and I feel Key West is a good place to rent a diamond week for more than one pays in MFs.

My initial observation in the HRC system is that you can buy places that offer a better $MF/point ratio than Beach House, but I am likely to pay a premium in the purchase price to do so.

I initially wanted to buy Sunset Harbor based on location, but when looking things over didn't see its increased MF being worth the difference for me ... and with a family Beach House may be more peaceful. Anyone have pointers or see anything I should be paying more attention to in thinking things out?

PerryKing- you are correct. You can only rent your deeded week.

 

[AJCts411]

IMO you are not entirely correct in saying ... "and with a family Beach House may be more peaceful." Beach house is a small distance away from the lively Duval Street scene, and the cruise ship crowds, and in that sense you are absolutely right. What attracted me to Sunset was the ability to have a nice quite time on the resort grounds around the pool, or be able to walk 2 blocks to the action. If your into a more laid back area for a vacation, inside and in the immediate area Beach House is likely the best choice. Guess like anything all depends on your personal preferences.

 

[bradj]

FYI. I have successfully rented out weeks that I do not own, but have confirmed reservations. Took advantage of guest certificate program or made other arrangements, not public knowledge. Never had problems with Hyatt. If you are looking for a Diamond week 2200 points. I know of a good prospect for you. ME! I would offer you the same terms that Hyatt was offering us owners in March when I sold them my week 20, Beach House, 2000 points. I have successfully traded my Beach House points (2br) for a one bedroom at Sunset Harbor over 40 times in the last 20 years. Have never set foot on the Beach House property that I own 3 weeks at. Reservation "request list" requests need to be made very far out. I always made mine 18 months out. Successfully booked Fantasy Fest at Sunset Harbor all 4 times that I tried. For health reasons, my wife and I are cutting back on traveling. If interested, and without breaking any TUG rules, let me know on this website. I can enlighten you to the Hyatt process.

 

[PerryKing]

Like said “ Sometimes you might be able to get away with it”. But would hate to be a “Guest” that gets caught in the middle when an owner gets caught renting other than their owned week.


Sent from my iPhone using Tapatalk

 

[Tucsonadventurer]

I wouldn't do it but Hyatt sales encourages it. They told us they do it with theirs

 

[GTLINZ]

I wouldn't do it but Hyatt sales encourages it. They told us they do it with theirs

And sales would never tell an untruth ....

 

[bradj]

And sales would never tell an untruth ....

How would they know and why would they care? All Hyatt/Marriott are interested in is collecting MF. I don't think there are any Time Share Police.

 

[bradj]

I have been researching HRC for a while now and am considering buying resale a 2,200 point Diamond week at Key West (preference for Beach House). I am not in a hurry to buy and watching as the recession/COVID-19 unfolds. I have an interest mostly in using CUP points to book Key West and trading in II in the short term with a desired ability to rent the unit not at a loss if I choose. What are the odds of being able to use CUP points to get either a Thanksgiving, New Year’s, or week before Easter (our spring break) once every couple of years? I am going to be stuck working around a school calendar for at least the next 7 years. Thanks!

My week 9 Beach House is unit B-11 Feb 28-Mar7, 2021. Must be confirmed by 8/29/2020 for ownership use.

 

[Tucsonadventurer]

How would they know and why would they care? All Hyatt/Marriott are interested in is collecting MF. I don't think there are any Time Share Police.

They most likely won't know or care but it is in our contracts so it could come back and bite you. We try to buy weeks that are rentable if we need to .

 

[PerryKing]

Actually Hyatt/Marriott gets very little of the maintenance fee other than the Club dues and the management fee. That’s their cut of the fee.

The majority of the fee goes to the operation and maintenance of the resort facilities of the individual property, and as supervised by the resort owners association and their elected board of directors.


Sent from my iPhone using Tapatalk

 

[WalnutBaron]

Actually Hyatt/Marriott gets very little of the maintenance fee other than the Club dues and the management fee. That’s their cut of the fee.

The majority of the fee goes to the operation and maintenance of the resort facilities of the individual property, and as supervised by the resort owners association and their elected board of directors.

If your logic holds true, then the maintenance costs for nearly all of the Hyatt properties must have skyrocketed last year based on the confiscatory increases in MF's. I'm sure the fact that 2020 is the first full year since Marriott/ILG took over ownership of HRC had nothing to do with it.

 

[PerryKing]

I don’t think it’s logic I’m using or am I guessing. But the best place to analyze it is to look at your property budgets from year to year that come to you after the annual meetings of the owner association were the budgets are set and the maintenance fee is determined.

I thing that the Hyatt club dues have increase some this year, and the management fees for the company that provides the property management. ( and that management is not necessarily Hyatt in all cases). But each increase or decrease from year to year you can easily identify by comparing the detailed line budgets from year to year. Then you can stop guessing about it.


Sent from my iPhone using Tapatalk

 

[Sugarcubesea]

I have been researching HRC for a while now and am considering buying resale a 2,200 point Diamond week at Key West (preference for Beach House). I am not in a hurry to buy and watching as the recession/COVID-19 unfolds. I have an interest mostly in using CUP points to book Key West and trading in II in the short term with a desired ability to rent the unit not at a loss if I choose. What are the odds of being able to use CUP points to get either a Thanksgiving, New Year’s, or week before Easter (our spring break) once every couple of years? I am going to be stuck working around a school calendar for at least the next 7 years. Thanks!

I own at Beach House and I have a 2,200 point Diamond week. This resort meet my needs as I love the location and is the most family friendly. I paid $4K all in when I purchased in late 2018. I was happy to get this price because I had been looking for years for a Hyatt and was never willing to pay more then $4K for a Diamond week. I was lucky in that I purchased during the sweet spot of the transfer of ownership from ILG to Marriott.

 

[escanoe]

I own at Beach House and I have a 2,200 point Diamond week. This resort meet my needs as I love the location and is the most family friendly. I paid $4K all in when I purchased in late 2018. I was happy to get this price because I had been looking for years for a Hyatt and was never willing to pay more then $4K for a Diamond week. I was lucky in that I purchased during the sweet spot of the transfer of ownership from ILG to Marriott.

Thanks for that information. It looks like a diamond week there today can be bought for $5,900 resale with no negotiation. I want one bad, but am in no hurry. I am not going to even think about trying to negotiate on one until the MFs come due later in the year. I have been wondering in my mind if they get down to around the $4k level again. Wouldn't surprise me, and I don't expect them to be hot and heavy exercising ROFRs for a while.

 

[Sugarcubesea]

Thanks for that information. It looks like a diamond week there today can be bought for $5,900 resale with no negotiation. I want one bad, but am in no hurry. I am not going to even think about trying to negotiate on one until the MFs come due later in the year. I have been wondering in my mind if they get down to around the $4k level again. Wouldn't surprise me, and I don't expect them to be hot and heavy exercising ROFRs for a while.

I would wholeheartedly agree that once the MF’s come out you might be able to snag a deal. It makes sense to wait.

 

[Family_travel]

I would wholeheartedly agree that once the MF’s come out you might be able to snag a deal. It makes sense to wait.

What sites are best to watch for sales (other than TUG Marketplace)?

 

[Tucsonadventurer]

What sites are best to watch for sales (other than TUG Marketplace)?

I like resortnetwork. Have bought a few from them.

 

[Family_travel]

I like resortnetwork. Have bought a few from them.

Thanks

 

[AJCts411]

http://keywestfltimeshare.com/ would be a good one for Florida. Bought 2 though them, no complaints.