Mistake? Just purchased the points program

[rickandcindy23]

I think any purchase from a developer is a waste of good money. You need to know that I do not own Hyatt and have nothing against Hyatt. The resorts are beautiful.

I have had the good fortune of staying in 3 of them through exchange. I am very blessed to have good traders that were literally free. But you cannot count on getting exchanges, so owning in a system can be very important to some people who are not flexible.

We go off-season and enter ongoing searches and cross our fingers. I am so happy to say it's been great. But we are retired and are flexible.

 

[rickandcindy23]

So which resort do you visit? You said HWOR. That means nothing to me. I must be dense or something.

When you add the purchase cost of your points and the maintenance fees for your use each year, divide that amount by 30 years, and that will tell you the real cost of your vacations. Fees do go up.

 

[brody24]

So which resort do you visit? You said HWOR. That means nothing to me. I must be dense or something.

When you add the purchase cost of your points and the maintenance fees for your use each year, divide that amount by 30 years, and that will tell you the real cost of your vacations. Fees do go up.

For a week that translates to approximately 2,000 points, what is the average annual maintenance fee? Curious if there is a general range.

And I believe HWOR is Hyatt Wild Oak Ranch

 

[Sapper]

Thank you so much for the replies! I’m happy we didn’t lose out on the $. I thought the new program sounded like a great deal.
I appreciate your quick responses! Thanks so much for saving us from a big mistake!

Glad we could help!

 

[Sapper]

You get the idea: RESCIND now.....

Even if you do find that buying from the developer is exactly what you need to do.....you need to educate yourselves first and then make a thoughtful decision on your own timeline!!!
Actually, I'm sure you'll find that a deeded resale week will give you much better value for your vacation dollars.

Cheers!

Funny: Two auto-correct errors on the same word (3 including the one I stopped on my post) Don't Descend or Resend....Rescind!!! (my choice was even worse--Resin)

Haha, hmmm... It was late.

 

[rickandcindy23]

For a week that translates to approximately 2,000 points, what is the average annual maintenance fee? Curious if there is a general range.

And I believe HWOR is Hyatt Wild Oak Ranch

One of the three we have been to. I loved that one. It's gorgeous but has been there a long time and has a lot of space to build additional buildings, but there are not enough sales to support it, apparently. I guess we are doing our job on TUG, advising people to rescind and save huge money by buying resale.

 

[brody24]

One of the three we have been to. I loved that one. It's gorgeous but has been there a long time and has a lot of space to build additional buildings, but there are not enough sales to support it, apparently. I guess we are doing our job on TUG, advising people to rescind and save huge money by buying resale.

Sounds like that has been in general consensus among the threads and stickies I have read. For whom would it actually make sense to buy into HPP directly from developer, or is it always a disadvantage to do so?

 

[CTF2006]

One of the three we have been to. I loved that one. It's gorgeous but has been there a long time and has a lot of space to build additional buildings, but there are not enough sales to support it, apparently. I guess we are doing our job on TUG, advising people to rescind and save huge money by buying resale.

This is the only one we’ve been to and we’ve rented there a dozen times. We love it. Over the weekend the sales guy said it should be build out by 2025. Funny how long it’s actually taken them since it opened in 2006! Y’all are doing a GREAT job here at TUG!

 

[rickandcindy23]

Sounds like that has been in general consensus among the threads and stickies I have read. For whom would it actually make sense to buy into HPP directly from developer, or is it always a disadvantage to do so?

You can buy resale at Pinon Pointe. I just don't know how the old points match up to the new system they put into place with the takeover of ILG.

Pinon Pointe is one of the other three we have traded into. The other was Carmel. I loved all of three of them, but Rick thought Carmel would be very luxurious, I guess I built it up too much. It's a bit woodsy.

I still want to stay at the Hyatt resorts in Florida, but not during the hot months of summer, and not during hurricane season. I think owners book those.

 

[WalnutBaron]

Brody, here are all the reasons I can think of to rescind while you still have time:

1. 880 points is not enough to get you much more than a few weekdays during peak season or a low demand week in the off-season, and you’ve paid retail price for it—likely approaching $20,000.
2. You can buy a resale fixed week at Hyatt Pinon Pointe these days for around $10,000 or even less that carries 2,000 points.
3. With a fixed week, you own a real property which can potentially be rented if you so choose. With points, you own...points.
4. You have no more flexibility with the HPP than you do by owning a fixed week, as long as you convert your fixed week to CUP points which allow you to trade within the Hyatt system.
5. Your HPP points give you zero guarantee of what kind of view/location you will be assigned. With a fixed week, you are guaranteed the unit you purchased with its accompanying view. Big advantage.
6. There are very rare occasions when buying from the developer makes sense, but your situation is not one of them.

Rescind, read the Hyatt forum stickies so you understand fully how Hyatt works, and then hire a good broker to represent you in your first purchase.

 

[WalnutBaron]

I am more interested in off-season visits generally, though obviously would like to have more points at a lower cost all things equal (since that way I at least have some flexibility to possibly do a more in-season trip or to upgrade to larger apartment). Though I need to research more about the Club Use Points and what T&C govern their usage (currently reading the stickies and guides). You and I both purchased into the new portfolio points, and I don't think we are talking apples to apples in saying 880 pts vs. 2,200 pts.

The points values are exactly the same, whether you own in the Points system or the legacy Hyatt Residence Club.

 

[brody24]

Is the only real difference the timeframe in which you can use the points? I read the sticky regarding the HRC points (i.e. CUP, what happens if they lapse, etc.). If one wants to simply swap the fixed week in for the 2,000 points right at the onset of the year, one is at no disadvantage relative to someone holding portfolio points? I just want to make sure I understand the relative booking priority between the two types of points.

And thank you so much for the above response. It is very helpful.

 

[taterhed]

So....here is the point.

Right now, you should focus on three things:

1. Recognize that you don't fully understand the system, the ups/downs and options: Rescind now.
2. Learn what is right for you
3. Make a plan to find and purchase--resale or developer--and then move forward on YOUR timeline. Don't jump on a 'bargain' you see on Fleabay.

Good luck!

Remember: If it comes back to 'I should buy from the developer' the option will still be there. But this time....it would be an educated decision.

 

[brody24]

So....here is the point.

Right now, you should focus on three things:

1. Recognize that you don't fully understand the system, the ups/downs and options: Rescind now.
2. Learn what is right for you
3. Make a plan to find and purchase--resale or developer--and then move forward on YOUR timeline. Don't jump on a 'bargain' you see on Fleabay.

Good luck!

Remember: If it comes back to 'I should buy from the developer' the option will still be there. But this time....it would be an educated decision.

Sounds logical. I think I will rescind for the time being, learn more about resale options, and then make a decision.

 

[Passepartout]

Sounds logical. I think I will rescind for the time being, learn more about resale options, and then make a decision.

I love it when a plan comes together!

 

[CTF2006]

Thanks Walnut for referring me to Bill. He is very knowledgeable and spent a lot of time answering my questions and steering me in the right direction.

Brody I highly recommend speaking with Bill. I asked your question and he said the points are the same however HPP do not get first dibs on reservations the owners with deeded weeks do. That’s a big disadvantage for me.

The link to the resale’s that Taderhed Posted has some great deals. (I reposted above) Just don’t take mine!
You’ll find Bill has several listings there if you choose to contact him.

 

[Panina]

Sounds logical. I think I will rescind for the time being, learn more about resale options, and then make a decision.

Wonderful decision. Welcome to TUG, here you will learn everything you need to make an informed purchase.

 

[brody24]

Thanks Walnut for referring me to Bill. He is very knowledgeable and spent a lot of time answering my questions and steering me in the right direction.

Brody I highly recommend speaking with Bill. I asked your question and he said the points are the same however HPP do not get first dibs on reservations the owners with deeded weeks do. That’s a big disadvantage for me.

The link to the resale’s that Taderhed Posted has some great deals. (I reposted above) Just don’t take mine!
You’ll find Bill has several listings there if you choose to contact him.

Thanks, I will reach out to him today since I'd love to learn more (once I have finalized and sent in my cancellation/rescission notice...)

 

[skimeup]

For what it's worth, I just finalized a sale at Hyatt Highlands Inn (Carmel). I purchased on ebay - for $499. Plus closing (about $400 - don't remember exactly), transfer fee $650 (ridiculous) and 2018 maintenance fee. 1880 points - second floor - ocean view. Drawback is maintenance fee almost $1700. I was on the lookout for Pinon Pointe - which I've stayed at and really like and has the lowest mf. But I love the Carmel area, live in LA, so the western ones are more attractive to me. And the price was sure right! (Anyone know how much the mf is on Pinon Pointe right now?) And for newbies, the mfs don't depend on the size of your unit or the time of year, they depend only on the resort that has your fixed week.

As I said, I am new so if any of this is wrong, will someone more knowledgabe please jump in?

 

[bdh]

Anyone know how much the mf is on Pinon Pointe right now? And for newbies, the mfs don't depend on the size of your unit or the time of year, they depend only on the resort that has your fixed week.

As I said, I am new so if any of this is wrong, will someone more knowledgabe please jump in?

The "sticky" on MF's lists Pinon Pointe at $1,071,18. FWIW: MF does vary a tick on weeks/units at a resort - the difference is due to property tax variations.

 

[martinphillip03]

Could you recommend a good Hilton Timeshare broker?

Marty

Great job. You just saved yourselves a lot of money and you’ll put yourselves in position to pick up a very nice property for pennies on the dollar. And you’re right about Hyatt right now: ROFR is not being exercised except in extreme cases, so there are some really good values out there.

Next steps:

1. 
   
2. Find a good, reputable resale broker to help squire you through the process of your first purchase. I recommend Bill Gabrielli, who specializes in Hyatt, but there are many other very good and honest brokers. And because you’re the buyer, you do not pay a sales commission or closing costs, in most cases.

 

[Tucsonadventurer]

For what it's worth, I just finalized a sale at Hyatt Highlands Inn (Carmel). I purchased on ebay - for $499. Plus closing (about $400 - don't remember exactly), transfer fee $650 (ridiculous) and 2018 maintenance fee. 1880 points - second floor - ocean view. Drawback is maintenance fee almost $1700. I was on the lookout for Pinon Pointe - which I've stayed at and really like and has the lowest mf. But I love the Carmel area, live in LA, so the western ones are more attractive to me. And the price was sure right! (Anyone know how much the mf is on Pinon Pointe right now?) And for newbies, the mfs don't depend on the size of your unit or the time of year, they depend only on the resort that has your fixed week.

As I said, I am new so if any of this is wrong, will someone more knowledgabe please jump in?

Sounds like a great deal. Pinon Pointe is selling around 6,000 right now with MFs around 1050. Congratulations!

 

[PerryKing]

There are many many Resales, Foreclosures and Special offers available at the Hyatt Residence Club, Main Street Station, Breckenridge Colorado available from a Hyatt official reseller in Breckenridge. All at very attractive prices compared to what they originally sold for.

Several are listed for sale here on the "For Sale" section of the main TUG website, and even more are also listed at www.breckenridgeMSR.com

Summer Float time, Fixed Ski weeks, and full 1/20th Shares. All combinations available. And when you buy through a Hyatt Authorized reseller you get the Hyatt Hotel Program Points exchange benefits also.

I bought a 3 bedroom peak ski week in 2002 during Pre Construction and have really enjoyed skiing in Breckenridge, and I have also spent every 4th of July week at the Hyatt Main Street Station Residence club for the last 15 years straight. Breckenridge is a real town and the Hyatt MSS is right in the middle of the action.

 

[PerryKing]

ha, ha , I noticed that too late to rescind my message. We were all in such a rush to get the message out. I do wonder how sales can sleep at night. Good for you CTF in finding TUG in time!

You can always go back and EDIT your own messages !

 

[PerryKing]

Sounds like a great deal. Pinon Pointe is selling around 6,000 right now with MFs around 1050. Congratulations!

FYI: The amount of the maintenance fees DO DEPEND on your unit size at all Hyatt's.