Should we convert HRC to HPC?

[smarcum]

We bought two deeded weeks from TUG members for maintenance only at Hyatt pinon pointe and are extremely happy with it and use it yearly. We are at the resort now and went for a presentation today where they tried to convince us we need to "Hyattize" our weeks into a hybrid model. Supposedly we keep our deeded weeks and gain more flexibility with no fees for booking, changing, split weeks, etc and something about maintenance fees wouldn't increase more than 3% per year and we were told our current system they could go up more than that--told us like 16% for next year? We of course didn't do anything today. Our Mariott ambassador actually told us to think about it and get back with her tomorrow, but just wanting pros and cons from the group as to keeping the HRC deeded weeks like we have versus going to the hybrid model with the hyatt Portfolio currency program? We don't usually use our deeded weeks but exchange it for more time in the off season rather than the actual weeks we own.

 

[Kal]

ABSOLUTELY DON'T DO IT!!! Do a search here and there is considerable detailed discussion about that "hybrid" program. It's proper name is the Hyatt Portfolio Program. The cost to join that program is about $13,000. The maintenance fee number of 16% is huckster garbage, just like about everything else that came out of their mouth.

 

[smarcum]

ABSOLUTELY DON'T DO IT!!! Do a search here and there is considerable detailed discussion about that "hybrid" program. It's proper name is the Hyatt Portfolio Program. The cost to join that program is about $13,000. The maintenance fee number of 16% is huckster garbage, just like about everything else that came out of their mouth.

Thank you! Have done some research tonight and i agree we need to just keep what we have--appreciate the response!

 

[youknowthenight]

LOL first off the fact that they made up the word "Hyattize" I find so ridiculous.
Just remember, legacy weeks already are a hybrid model if you want them to be, you just can't reserve points inventory until 6 months out.

 

[GTLINZ]

... are extremely happy with it and use it yearly ... just wanting pros and cons from the group as to keeping the HRC deeded weeks like we have versus going to the hybrid model with the hyatt Portfolio currency program ...

Pros: stay happy
Cons: if you hate money, then you have to keep it

Seriously - there is another thread about the merits of getting a LOW point contract. I am not tempted but there are some reasonable arguments. I am concerned that the MFs are going up to put the pinch on deeded owners - Marriott has a track history of high MFs. My in-laws had a Marriott in Hilton Head that was $500+ for MF per year - and within 5 years it was $1200+ - and this was in the early 2000s....

 

[smarcum]

Pros: stay happy
Cons: if you hate money, then you have to keep it

Seriously - there is another thread about the merits of getting a LOW point contract. I am not tempted but there are some reasonable arguments. I am concerned that the MFs are going up to put the pinch on deeded owners - Marriott has a track history of high MFs. My in-laws had a Marriott in Hilton Head that was $500+ for MF per year - and within 5 years it was $1200+ - and this was in the early 2000s....

Thanks--we told them we were keeping what we had and they didn't ask why or anything--said no problem and gave us our gift card so a win-win but I'm so happy i've found this group. i was in the hot tub tonight with a couple that said they bought more "points" and changed their deeded weeks into the portfolio program and i just wanted to cringe and tell them about this group, but hot tub full and they had already done this a year ago;(

 

[GTLINZ]

Thanks--we told them we were keeping what we had and they didn't ask why or anything--said no problem and gave us our gift card so a win-win but I'm so happy i've found this group. i was in the hot tub tonight with a couple that said they bought more "points" and changed their deeded weeks into the portfolio program and i just wanted to cringe and tell them about this group, but hot tub full and they had already done this a year ago;(

Yes, we found Tug after having said no many years ago and ended up buying resale because we loved our experience. We have really enjoyed our vacations and i considered it an investment in "us".

 

[Kal]

As a note for Maintenance Fees, the invoice we received in Nov. 2021 for Sunset Harbor showed a DECREASE over the fees paid in Nov. 2020. That decrease is the direct result of a Board of Directors who challenged Hyatt for their fee change proposals which were not reasonable and based on fact. One can only assume those same proposals were accepted by the BOD at other HRC resorts.

 

[Tucsonadventurer]

It's surprising if you read the Hyatt Facebook group, how many people are joinng the portfolio program. I don't understand the attraction

 

[dsmrp]

It's surprising if you read the Hyatt Facebook group, how many people are joinng the portfolio program. I don't understand the attraction

Maybe it's the ability to bank points and not use or lose each year.
There are some attractive features of PP, that make them somewhat comparable to other hotel branded TS programs. But not at their price for me.
IMO there's not enough critical mass in the trust.

 

[Kal]

If a key reason to join HPP is to bank points, there's a message that the HRC points are not being used. That's a serious message which costs $13,000. If you are not using the points this year, next year you will have more points to manage. At some point te owner really needs to determine if time share ownership is right for them?

 

[RunCat]

Maybe it's the ability to bank points and not use or lose each year.
There are some attractive features of PP, that make them somewhat comparable to other hotel branded TS programs. But not at their price for me.
IMO there's not enough critical mass in the trust.

The critical mass equation may shift if Welk's unsold inventory is put into the Trust. Welk also has plats available for new builds in Escondido, Cabo, and Breckenridge, so more inventory is arguably available. I have heard that Welk will be rebranded on April 1.

 

[dioxide45]

The critical mass equation may shift if Welk's unsold inventory is put into the Trust. Welk also has plats available for new builds in Escondido, Cabo, and Breckenridge, so more inventory is arguably available. I have heard that Welk will be rebranded on April 1.

Isn't Welk's unsold inventory already held in its own trust being sold as points?

 

[RunCat]

Isn't Welk's unsold inventory already held in its own trust being sold as points?

Yes. My assumption, perhaps falsely, is that since MVC owns the unsold inventory they could either redo the Trust documents and transfer them to a new inventory or sell them in a different package. I might be incorrect thinking this though.

 

[Mongoose]

We bought two deeded weeks from TUG members for maintenance only at Hyatt pinon pointe and are extremely happy with it and use it yearly. We are at the resort now and went for a presentation today where they tried to convince us we need to "Hyattize" our weeks into a hybrid model. Supposedly we keep our deeded weeks and gain more flexibility with no fees for booking, changing, split weeks, etc and something about maintenance fees wouldn't increase more than 3% per year and we were told our current system they could go up more than that--told us like 16% for next year? We of course didn't do anything today. Our Mariott ambassador actually told us to think about it and get back with her tomorrow, but just wanting pros and cons from the group as to keeping the HRC deeded weeks like we have versus going to the hybrid model with the hyatt Portfolio currency program? We don't usually use our deeded weeks but exchange it for more time in the off season rather than the actual weeks we own.

I also purchased two weeks at Pinion Pointe. We love it. I really don’t understand the attraction to HPP. We went to any owner update and it just didn’t make any sense to us.

 

[boraxo]

I also purchased two weeks at Pinion Pointe. We love it. I really don’t understand the attraction to HPP. We went to any owner update and it just didn’t make any sense to us.

from what I gather the selling points are (1) earlier access to trade inventory (12 months rather than 6 months) and (2) ease of using points for 1-6 night stays.

if the current system works for you - because you use your home week or you have no difficulty trading into the weeks that you want elsewhere - then there is no incentive to pay $$$$ for the privilege of using HPP.

 

[Mongoose]

from what I gather the selling points are (1) earlier access to trade inventory (12 months rather than 6 months) and (2) ease of using points for 1-6 night stays.

if the current system works for you - because you use your home week or you have no difficulty trading into the weeks that you want elsewhere - then there is no incentive to pay $$$$ for the privilege of using HPP.

But the access is into a limited pool of HPP?

 

[alameda94501]

But the access is into a limited pool of HPP?

Yes, the earlier access is in the "Portfolio", which is limited but also includes all the weeks that Hybrid owners have deposited in there that year.

 

[Mongoose]

What is the current MF per point for portfolio points?

 

[alameda94501]

What is the current MF per point for portfolio points?

Good question.

2022 Hyatt Portfolio Club - Maintenance Fees Increase (Does anyone have the 2020 budget?)

I have been comparing budgets of the Hyatt Portfolio Club from 2018, 2019, 2021, and 2022. (see attached) Sorry for the wall of numbers, but this is a summary of what I found: (For the "per-point percent difference from last year", because I'm missing 2020 I've taken 2021 from 2019 and...

tugbbs.com

It's $0.98/pt this year. But that doesn't tell the whole story. Hyatt refunded all Portfolio members their Club Fees, $842k, and then also put in an extra $100k - because without these one-time developer gifts to Portfolio, it would be $1.07/pt.

 

[elysium5]

LOL first off the fact that they made up the word "Hyattize" I find so ridiculous.
Just remember, legacy weeks already are a hybrid model if you want them to be, you just can't reserve points inventory until 6 months out.

How good is the inventory 6 months out?

 

[ScoopKona]

How good is the inventory 6 months out?

Depends.

This system only works for two kinds of vacationers:

1) I don't care what happens the rest of the year, as long as I get to spend my two weeks at the resort I own.

2) I'm incredibly flexible when it comes to vacationing.

There is a third sort of vacationer:

3) I want what I want, when I want it, 100% of the time, with no hoops to jump through.

That group isn't going to be happy with timesharing in general, or the Hyatt in particular. I've traveled all over the world using my piddly little bronze (now upgraded to gold) Key West week. I typically leverage through II, and get 2-3 weeks elsewhere every single year.

But doing that requires having conversations like this every year: "Do you want to go to Malaysia, Spain or St. Maartin next month?" Getting the week you want, where you want requires a considerable amount of planning ahead, and is not 100%. In fact, I never actually rely on anything until I print out the confirmation letter.

 

[elysium5]

Thanks for the insight.

That's how I feel about Hyatt. There are some beautiful resorts, but it takes a little bit more work to stay at somewhere else in the system (unless you pay through the nose for HPP)

 

[Mongoose]

Good question.

2022 Hyatt Portfolio Club - Maintenance Fees Increase (Does anyone have the 2020 budget?)

I have been comparing budgets of the Hyatt Portfolio Club from 2018, 2019, 2021, and 2022. (see attached) Sorry for the wall of numbers, but this is a summary of what I found: (For the "per-point percent difference from last year", because I'm missing 2020 I've taken 2021 from 2019 and...

tugbbs.com

It's $0.98/pt this year. But that doesn't tell the whole story. Hyatt refunded all Portfolio members their Club Fees, $842k, and then also put in an extra $100k - because without these one-time developer gifts to Portfolio, it would be $1.07/pt.

That seems very expensive. I pay $0.72 at Pinion Point in HRC. HPC is equivalent in MF per point to silver weeks at best.

 

[alameda94501]

That seems very expensive. I pay $0.72 at Pinion Point in HRC. HPC is equivalent in MF per point to silver weeks at best.

Yes, there were a lot of bronze dregs in the initial Portfolio inventory. It's the Achilles Heel's of their (diabolical, or at least clever) scheme to get rid of those weeks back in 2017.

No matter how many letters we get from their Senior VP on customer service, the unavoidable truth about Hyatt is that they are very slow at opening new boutique resorts. (Personally, not really considering Welk besides Northstar.) A new boutique resort would be a shot in the arm for the system.