As I understand it, at this time because of AZ. state law, pinion pointe will not be part of it(pp program). There was legal issues involving the PP program, and I have not heard of a conclusion yet. In looking thru the new rules regarding HRC and HPC, pinion pointe one that does not have a termination date. I take that as a good sign(fingers crossed).I am confused. Besides Hawaii are there other states that won't be in the Points Program?
They seem to be saying is this is not real property but simply points. The inference is you can't sell points. Once you're in, you are in and they will come after you if you stop paying dues @ 18% interest.The sale, lease, or transfer of Vacation Ownership Interests in this multisite Vacation Ownership Plan is restricted or controlled.
Generally, an Owner should expect substantial competition from the Trust Developer and should expect no established resale market if an Owner desires to resell a Vacation Ownership Interest.
Geez, these two statements make me want to spend $40k for a week. Ahhh, what the heck,may I please have two Diamond weeks worth of points please?
I am confused. Besides Hawaii are there other states that won't be in the Points Program?
They seem to be saying is this is not real property but simply points. The inference is you can't sell points. Once you're in, you are in and they will come after you if you stop paying dues @ 18% interest.
I would love to go to a presentation as a newbie off the street. But then they will ask for ID and quickly find I am a HRC owner. Even then I would say I don't want to surrender my weeks, but rather buy in straight up. That of course would twist their tail a bit as they would have to come clean. All's left is the sizzle and a boat load of $$$$$.
I can't imagine Sierra Keys in it either as fractional ownership.I don't know where it now stands, but Pinion Pointe was originally included in PPP. Hawaii, Breckinridge, and the Beaver Creek resorts are not in PPP.
Siesta Keys. My auto correct keeps changing itI can't imagine Sierra Keys in it either as fractional ownership.
are. OrrectI can't imagine Sierra Keys in it either as fractional ownership.
While there are still a lot of additional details to be released before we fully understand what HRP entails and what it means to HRC owners, one thing that is clear now is that HRP has been created with one goal in mind: profit maximization, to the detriment of HRP owners. Those owners will be locked into a system where the developer will be competing with them on potential rentals, will be actively creating a negative resale environment, and will be aggressively raising MF's after the short guaranteed rate (which is much higher than what most HRC owners currently pay) expires.
The most ominous thing I see for us HRC owners is the new status tiers created, and the fact that we all fit into the lowest rung--"Non-Authorized Resale Owner". There is no clarification for what this means. If it means we have no status within HRP, I have no problem with that. If, on the other hand, it means that HGVV is going to attempt to breach HRC (legacy) owners' rights within the HRC network, they are going to have a huge fight on their hands.
If the unit is sold thru a firm "authorized by Hyatt", then it's a proper resale. Or if an owner contracts with Hyatt to sell their unit, then that's an acceptable sale. If Hyatt doesn't get a cut of the deal, then it's BAD.Isn't everything eventually a resale when original owners decide to sell (unless ROFR is exercised)?
That leaves out 7 properties which means they will need to add at least that Many.At one point there was talk of including some Westin. Any rumors on new properties besides Aruba?Per the definition of "non authorized resale", it only states "HPC", not HRC. Because they specifically leave out the HRC, I do not see this impacting us (current owners in the HRC), but absolutely impacting future owners in HPC. I see this as the developers means to reduce future competition in the resale market.
Also, the Hawaii, Siesta Key, 2 @ Beaver Creek, Breckenridge, North Star, and Puerto Rico properties do not seem to be included at the current time. However, that may change in the future.
One odd thing, on the first page of the document, it was stored under "Westin" on someone's G drive.
That leaves out 7 properties which means they will need to add at least that Many.At one point there was talk of including some Westin. Any rumors on new properties besides Aruba?
I can't imagine that would entice new folks with such a limited pool but who knowsWhy do they need to add any resorts? I don't follow your logic. If they sell points with access to N-7 resorts and people buy into that, it's all good.
Why do they need to add any resorts? I don't follow your logic. If they sell points with access to N-7 resorts and people buy into that, it's all good.
I can't imagine that would entice new folks with such a limited pool but who knows
BTW.
Yesterday my exchange request came through for a 2BR unit, 4 night stay at Highlands Inn. March, which is a beautifully vibrant green week to be in Carmel.
I was noodling around the HRC website and there's a weirdly nice amount of inventory available right now: full weeks at Kaanapali, Sunset Harbor. Some nice Sept Aspen and Tahoe weeks. More than usual.
As you're probably aware, there are only a handful of 2BR units at Highlands Inn. You could be waiting a long time for that one.
As you're probably aware, there are only a handful of 2BR units at Highlands Inn. You could be waiting a long time for that one.