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2020 Hyatt Maintenance Fees

Discussion in 'Hyatt Residence Club' started by WalnutBaron, Oct 8, 2019.

  1. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    This serves as an APB for all TUG Hyatt owners: it won't be long before we begin receiving invoices for our 2020 maintenance fees. As the invoices arrive to you, please post here with a summary of your invoice in the following format (below is an example only):

    Hyatt Pinon Pointe 2BR Platinum Season 2,000 points Annual

    Operating Fee $1,000
    Replacement Reserve 300
    Property Taxes 150
    Club Dues 150

    Total $1,500

    % increase over 2018 4.6%

    Thanks to everyone for participating. Once we begin to get a good string of these, I'll ask TUGBrian to re-post this thread as a sticky.

    Thanks!
     
    SteelerGal likes this.
  2. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    FYI, the proposed budget for Hyatt Highlands Inn calls for a stiff 7.9% increase from $1,590 in 2019 to $1,716 in 2020. Ugh. That said, all of the roofs--which were wood shingle and, therefore, a definite fire hazard--have been or are being replaced with fire resistant materials.

    Here is the breakdown courtesy of the owners association president:

    upload_2019-10-8_17-15-5.png
     
    Sapper, SteelerGal, gratiem and 2 others like this.
  3. ivywag

    ivywag TUG Member

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    It looks like Support, Management Fees and Club Fees (Marriott) took a hefty jump. Interesting that those fees are thrown in with the upgrade to the internet. CA’s new minimum wage law didn’t help either.
     
  4. alameda94501

    alameda94501 TUG Member

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    Must be rough on the HPC Land Trust with 496+ unit weeks at Highlands Inn, that's a $62.4k jump in their maintenance fees. At least there's no bad debt with them.

    I'm curious how bad the bad debt problem is.
     
  5. jonfff74

    jonfff74 Guest

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    I thought Pinon Pointe maintainance fees for 2BR were ~1,000 - that's the maintenance fee I see listed on various resale sights. Can someone explain to me why is quoted at $1,500 (see above) whereas listings seem to list maintenance fees of ~$1,100?
     
  6. alameda94501

    alameda94501 TUG Member

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    That's just @WalnutBaron's example. It's not a real number. It's currently ~$1,180 at Pinon, but I'm not sure about 2020.

    Various jurisdictions/resorts may also have different maintenance fees for different members, for example because of property tax assessments.
     
  7. ivywag

    ivywag TUG Member

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    We received our proposed budget for next year. It looks like bad debt is $30.89 per unit week. That's a lot!
     
  8. Sapper

    Sapper Tug Review Crew: Rookie TUG Member

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    It’s not great, but the reality is when compared to the other line items, it’s not horrid either. Look at it this way, the INCREASE in the management fee for this year alone is apx $12 more than the total bad debt. The INCREASE in the reserves for this year alone is apx 2/3 the total bad debt. Perhaps we should be casting a light on the other line items? Why is it that during Marriotts first maintenance fee collection the management fee line item jumps so significantly?
     
    WalnutBaron likes this.
  9. Guzztimeshare

    Guzztimeshare Guest

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    New to this site. Own both at Hyatt Highlands Inn and Hyatt High Sierra. I believe there is a cap on how much maintenance fees can increase each year. I remember reading it but wondering about others?
     
  10. alameda94501

    alameda94501 TUG Member

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    Welcome! I am not sure what the cap is, as 8% seems like a heavy increase based on my history with Highlands Inn.

     
  11. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    I wish. There is no cap on maintenance fee increases except for effective oversight by a watchful board of directors and, very indirectly, competitive forces. There is a lot of suspicion that--now that Marriott owns the Hyatt system--Marriott is behind the large planned increase at HHI. It certainly bears everyone paying attention to their MF increases this year to see if the 8% increase at HHI is a one-off or the canary in the coal mine for the entire Hyatt system in 2020.
     
    Sapper likes this.
  12. echino

    echino TUG Member

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    Hyatt Piñon Pointe is also increasing about 8%.

    Hyatt Windward Pointe is increasing about 15%.

    Hyatt Hacienda del Mar is increasing about 50%.
     
  13. grevas1

    grevas1 Guest

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    Hyatt Hacienda del Mar 2020-
    Operating Fee- $1533.14 = 30% increase from 2019
    Reserve fee- $350 = -7.72% decrease
    M/F- $1883.14 = 21.27% increase
    Disaster Recovery Reserve (one time fee)= $420.10

    Total fees for 2020- $2303.24 = 48.32% from 2019.
     
  14. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    Wow. Thanks, Marriott. One thing that hasn't been discussed on this board, but should be: when the developer aggressively pushes higher MF's, it eventually begins to negatively impact resale values. Time for vigilance.
     
    Sugarcubesea, Sapper and travelhacker like this.
  15. Sugarcubesea

    Sugarcubesea TUG Member

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    Has anyone seen what the Beach House is going up for 2020?
     
  16. SteelerGal

    SteelerGal TUG Member

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    On the Hyatt FB Board, there’s an uproar over Windward increase. Is the increase due to the points increase?
     
  17. echino

    echino TUG Member

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    Hyatt Windward Pointe increase will depend on the results of the vote whether to waive full funding of reserves. If it's waived, the increase will be about 15% (due to reserves), if it's not waived, the increase will be much higher (also due to reserves).
     
  18. alameda94501

    alameda94501 TUG Member

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    I don't own there, but it doesn't make any sense that there would be an increase in fees over a points increase (and that was several years ago for Windward Pointe). Points equalization happens when there is a Hyatt-perceived inequity in supply/demand for particular weeks and they either boost seasons (e.g. Gold becomes Diamond) or boost the "class" (e.g. 2 Bedroom becomes 2 Bedroom Deluxe). It only goes one way - they don't unboost, but obviously there could be an inflation of sorts if they need to equalize across the board.

    It's more likely that there is hurricane damage to be addressed, like with Puerto Rico.
     
  19. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    You're probably right, but why not just be honest with the owners and issue a special assessment? With that kind of a huge MF increase, the additional cost of ownership is not only baked into all future MF's for perpetuity, but the net effect is a big reduction in resale value (not that Marriott cares one whit about that).
     
    SteelerGal likes this.
  20. SteelerGal

    SteelerGal TUG Member

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    I was thinking the same. Why not a special assessment?
    If it’s not, increases will occur on an annual basis until Marriott reaches the amount it believes is justifiable.
     
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  21. Sapper

    Sapper Tug Review Crew: Rookie TUG Member

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    This is not about hurricane damage. If it were, there would be a line item similar to the Puerto Rico property “Disaster Recovery Reserve”. Also, if it were hurricane driven all of the other Hyatt properties would not be increasing 8%-21%. This is about Marriott’s profit margin. They are being greedy and capitalizing on a product that has a high barrier to exit. This is profit driven.
     
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  22. SteelerGal

    SteelerGal TUG Member

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    This!!!!
     
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  23. Sugarcubesea

    Sugarcubesea TUG Member

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    I’m so sad that Marriott purchased Hyatt. They will end up with more foreclosures as people dump their Hyatts
     
    Sapper likes this.
  24. Sapper

    Sapper Tug Review Crew: Rookie TUG Member

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    From Marriott’s perspective I think it’s a win win. Owners stay = higher revolving profits for Marriott. Owners sell at what will be significantly lower prices = Marriott ROFRing unit weeks to put into the new flavor product to sell at inflated prices = higher one time profits. Either way, Marriott wins. As an owner, I too am sad with the situation.
     
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