dbmarch
TUG Member
- Joined
- Feb 11, 2012
- Messages
- 151
- Reaction score
- 2
- Points
- 228
- Location
- Deerfield Beach, FL
- Resorts Owned
-
Hyatt Sunset Harbor
Hyatt Windward Pointe
We were at Sunset Harbor week of Aug 19. We attended an update while we were there.
We have 2 units. 1 is a 1400 point every year at Sunset Harbor. The other is a 2000 point EOY at Windward Pointe.
They were interested in us converting the units to the new point system and were offering us $8k for 1 unit or $13k for both units. This would have "hyattized" our units. We don't ever trade HSH and we try to trade WP for HSH so this was too valuable for us.
We learned that the properties are pooled in either the new point system or the current one. As part of the original point system, if we make a request for a reservation that is not our week ( HRPP) we would only be able to access units that are not converted. What this means is that trading under the old system will continue to get more difficult as more properties will wind up in the new pool.
Under the new point system, we were told we would be able to 'reserve' our deeded week or give it up and make a reservation in the point system. Making a reservation in the new point system can be done a year in advance starting on Jan 1.
I had asked what percentage of the HSH units are converted and he wouldn't give me a straight answer. It is somewhere between 17% and 50%. ( But they have been know to not tell the truth so I am not sure).
Couple of other interesting items:
1) Maintenance fees for the new point system is an average of all of the pooled properties. Not sure how the voting will work on items such as future maintenance projects as the people in the new point system will be shielded from any resort having a singular maintenance fee spike.
2) They are exercising ROFR for almost any property to push it into the pool. ( According to the Sales guy). They seem to be doing pretty well selling them with the new point system as it addresses some of the flaws of the Hyatt system (HRPP/CUP/LCUP) at various dates through the year). It would be interesting to see if there are any resales that get through now.
3) They continued to try to influence us to switch as they wanted our properties. I told them it was more valuable to them for us to switch than it was for us
Overall I think the new program looks to be better in terms of trading. It will have a negative affect on anyone under the old point system who tries to trade.
We have 2 units. 1 is a 1400 point every year at Sunset Harbor. The other is a 2000 point EOY at Windward Pointe.
They were interested in us converting the units to the new point system and were offering us $8k for 1 unit or $13k for both units. This would have "hyattized" our units. We don't ever trade HSH and we try to trade WP for HSH so this was too valuable for us.
We learned that the properties are pooled in either the new point system or the current one. As part of the original point system, if we make a request for a reservation that is not our week ( HRPP) we would only be able to access units that are not converted. What this means is that trading under the old system will continue to get more difficult as more properties will wind up in the new pool.
Under the new point system, we were told we would be able to 'reserve' our deeded week or give it up and make a reservation in the point system. Making a reservation in the new point system can be done a year in advance starting on Jan 1.
I had asked what percentage of the HSH units are converted and he wouldn't give me a straight answer. It is somewhere between 17% and 50%. ( But they have been know to not tell the truth so I am not sure).
Couple of other interesting items:
1) Maintenance fees for the new point system is an average of all of the pooled properties. Not sure how the voting will work on items such as future maintenance projects as the people in the new point system will be shielded from any resort having a singular maintenance fee spike.
2) They are exercising ROFR for almost any property to push it into the pool. ( According to the Sales guy). They seem to be doing pretty well selling them with the new point system as it addresses some of the flaws of the Hyatt system (HRPP/CUP/LCUP) at various dates through the year). It would be interesting to see if there are any resales that get through now.
3) They continued to try to influence us to switch as they wanted our properties. I told them it was more valuable to them for us to switch than it was for us
Overall I think the new program looks to be better in terms of trading. It will have a negative affect on anyone under the old point system who tries to trade.