Welk points purchase question

[Bill8777]

Hi, I'm in the process of closing on 240,000 HVC/Welk points. After reading your post I think I should have tried to find a higher point value. If I were to purchase a second for 240,000 would the points combine to provide tier status?

 

[RunCat]

Hi, I'm in the process of closing on 240,000 HVC/Welk points. After reading your post I think I should have tried to find a higher point value. If I were to purchase a second for 240,000 would the points combine to provide tier status?

Are you buying from the developer or resale? Assuming resale, they would be two separate contracts and neither would qualify for tier status. If developer, they would be combined and would qualify.

 

[mjm1]

Another thing to consider if you are buying resale is that you are better off with one larger contract than two smaller contracts. The reason is that each contract has a base for maintenance fees plus extra amounts based on the number of points in the contract. So multiple contracts would require multiple base fees and therefore higher overall MF's compared to one larger contract.

 

[cshubm]

Another thing to consider if you are buying resale is that you are better off with one larger contract than two smaller contracts. The reason is that each contract has a base for maintenance fees plus extra amounts based on the number of points in the contract. So multiple contracts would require multiple base fees and therefore higher overall MF's compared to one larger contract.

Is this true for all resale purchases? I am a current owner with Welk (now HVC) and I am looking to purchase additional points to combine with my odd year points (240,000). Although I would have the combined point value for future reservations I would pay separate MF's based on my current points and the additional MF of the potential point purchase?

 

[mjm1]

Is this true for all resale purchases? I am a current owner with Welk (now HVC) and I am looking to purchase additional points to combine with my odd year points (240,000). Although I would have the combined point value for future reservations I would pay separate MF's based on my current points and the additional MF of the potential point purchase?

Yes, I believe it applies to all resale contracts. If I remember correctly, you also can't combine points from various contracts to make one reservation (say 240k from one contract and 60k from a second contract). It's been a while since we owned Welk, so hopefully other current owners can confirm how it is handled.

 

[Guitarmom]

We were the beneficiaries of the Welk family's willingness to combine contracts. To this day, I'm glad to have done it. Because we now live close to the Escondido/San Diego property, we treat it as a profit center and go to four Owner's Updates each year (that's $800 in VISA gift cards, tax free). Every time we go, the Hyatt rep will look at our history (combined three resale contracts into Platinum Points for less than $10,000 while lowering our MFs $1,000) and they are floored. We keep hearing, "You know, the Welk family always tried to do what's best for their owners. Hyatt is much more strict. They would never make the deal you got!" We have now heard this from at least five different Hyatt reps.

So would Hyatt combine your two contracts? Part of me thinks "No way." Another part of me thinks, "Timeshares will do anything to get you to buy something." Hyatt seems quite determined to discourage resale contracts, so I lean more towards "No way."

Here is a comparison of the MFs you'd pay for 2024 usage:
If you owned 480,000 points in one contract: $3,471
If you owned two separate contracts of 240,000 points: $4,446 (Each contract pays $2,223)

Hope this info helps!

 

[cshubm]

Yes, I believe it applies to all resale contracts. If I remember correctly, you also can't combine points from various contracts to make one reservation (say 240k from one contract and 60k from a second contract). It's been a while since we owned Welk, so hopefully other current owners can confirm how it is handled.

Thanks for providing this update.

 

[cshubm]

We were the beneficiaries of the Welk family's willingness to combine contracts. To this day, I'm glad to have done it. Because we now live close to the Escondido/San Diego property, we treat it as a profit center and go to four Owner's Updates each year (that's $800 in VISA gift cards, tax free). Every time we go, the Hyatt rep will look at our history (combined three resale contracts into Platinum Points for less than $10,000 while lowering our MFs $1,000) and they are floored. We keep hearing, "You know, the Welk family always tried to do what's best for their owners. Hyatt is much more strict. They would never make the deal you got!" We have now heard this from at least five different Hyatt reps.

So would Hyatt combine your two contracts? Part of me thinks "No way." Another part of me thinks, "Timeshares will do anything to get you to buy something." Hyatt seems quite determined to discourage resale contracts, so I lean more towards "No way."

Here is a comparison of the MFs you'd pay for 2024 usage:
If you owned 480,000 points in one contract: $3,471
If you owned two separate contracts of 240,000 points: $4,446 (Each contract pays $2,223)

Hope this info helps!

Thanks for sharing your experience and glad to hear that you were able to get so much value from the previous Welk family.

 

[ambere]

We were the beneficiaries of the Welk family's willingness to combine contracts. To this day, I'm glad to have done it. Because we now live close to the Escondido/San Diego property, we treat it as a profit center and go to four Owner's Updates each year (that's $800 in VISA gift cards, tax free). Every time we go, the Hyatt rep will look at our history (combined three resale contracts into Platinum Points for less than $10,000 while lowering our MFs $1,000) and they are floored. We keep hearing, "You know, the Welk family always tried to do what's best for their owners. Hyatt is much more strict. They would never make the deal you got!" We have now heard this from at least five different Hyatt reps.

So would Hyatt combine your two contracts? Part of me thinks "No way." Another part of me thinks, "Timeshares will do anything to get you to buy something." Hyatt seems quite determined to discourage resale contracts, so I lean more towards "No way."

Here is a comparison of the MFs you'd pay for 2024 usage:
If you owned 480,000 points in one contract: $3,471
If you owned two separate contracts of 240,000 points: $4,446 (Each contract pays $2,223)

Hope this info helps!

That is really helpful; thanks for sharing! I've been thinking about acquiring additional points, but don't want to double my maintenance fees.

 

[RunCat]

That is really helpful; thanks for sharing! I've been thinking about acquiring additional points, but don't want to double my maintenance fees.

If you need/want the extra points and purchase resale, IMO, paying the additional per-contract fee is better than purchasing at developer's pricing.