On the contrary, nothing has really changed for HRC owners. We still get our HRPP period at 12 months out and have six months to lock in our fixed week and unit if so desired. If not, we can place a request for another unit within HRC or try to look for it through the online reservations system. As lizap points out, availability of inventory prior to the expiration of the HRPP is small, simply because those owners can and typically do take their own sweet time in determining if they want to lock in their fixed week (I know I do, anyway). At six months, their HRPP expires and they now have a decision--either use their CUP points for an internal exchange or deposit their points into the EEE external exchange with Interval.
As for the HRP owners, they cannot lock in HRC units at 12 months. They can, however, lock in HRP units at 12 months for those HRP units that have been purchased by Hyatt and placed into the HRP trust. And since it's our reasoned speculation that the HRP program is both flailing and failing, it's also reasonable to assume that there is ample HRP inventory for HRP owners to choose from prior to the HRC owners having their shot at it at 6 months.
In any case, the correct way to look at this latest unannounced development is that it's a plus for HRC owners. Previously, we were led to believe that because the units were held in separate trusts, the only way for HRC owners to access the HRP inventory would be by paying the confiscatory conversion fee. Not true! HRC owners can have access at 6 months out or sooner simply by paying a nominally higher reservation fee. HRP owners, however, cannot access HRC inventory because there is substantial demand for those units within the much more robust HRC owners network.
All in all, HRC owners are the big winners at this point because of the woeful performance of HRP, at least thus far.