Who hasn’t heard the name Hyatt? The name is world renowned and synonymous with top-tier luxury and comfort.
The hotel giant opened its first hotel at the Los Angeles International Airport back in 1957 and today has more than 60 years of experience in the hospitality industry. However, it wasn’t until 1994 that Hyatt created the Hyatt Vacation Club. Following years of success, the name was changed to Hyatt Residence Club in 2009.
What is special about the Hyatt Residence Club?
The Hyatt Residence Club is unique in that it allows trades for stays at other Hyatt Residence Club destinations easily. Trades can be weeks, four-day mid-week stays, or weekend vacations.
For example, if you have a Platinum or Diamond week in Florida or Maui you can trade points into five to seven timeshare weeks of off-season vacations, such as visiting Colorado in the summer.
Or, if you prefer weekends, you can trade your week for two to four weekends at Hyatt Residence Clubs near you. This enables you to get value from your ownership beyond one week per year.
With the typical maintenance fee at Hyatt sitting at about $1,500 per year, for a 2 bedroom unit, you could end up with many vacations per year simply by learning how to trade and spend your time.
Should I purchase a Hyatt Residence Club timeshare?
- Yes, if you are purchasing on the resale market, and not at a timeshare presentation. Don’t ever purchase your Hyatt timeshare directly from Hyatt. You can find discounts of 70% -90% by purchasing on the resale market. Email us for information on how to do this at [email protected]
- Yes, if you can plan your vacation up to two years in advance. As with all timeshares, you will find the best availability and trade opportunities far into the future. By planning in advance, you can find the best deals.
- Yes, if the annual maintenance fees are affordable to you. With Hyatt Residence Club, there’s no need to worry about hidden charges or the fine print – the advertised price is the price you pay. With the average maintenance fee coming to around $1,500, the fees are not excessive.
- Yes, If a Hyatt Residence Club resort is easily accessible to you. With more than 16 resorts in 13 different states across the U.S., there is sure to be a resort near you. Whether you are looking for a mountain getaway in Colorado or a beach house in Hawaii, Hyatt Residence Clubs has you covered. If you are nearby a resort, you will most likely be able to trade into the nearby resort and guarantee that you will use your timeshare every year. If you have to fly to a destination far away to use your week, you may end up not wanting to purchase airline tickets, and your week can end up not being used.
- Yes, if you understand how to rent out your week if you cannot use it. If you have learned the process of renting out your week on the various timeshare rental sites, this allows you to make a more educated purchase. Understanding the rental value helps you understand the overall value.
Keep the following items in mind when purchasing at the Hyatt Residence Club.
- The annual fees are subject to rise. While your annual fee won’t increase astronomically, realize that 5-7% increases each year are likely.
- Hyatt Residence Club requires a lump sum payment of the maintenance fees. The annual maintenance fee must be paid in one lump sum each year, which can be a big expense.
- Your Hyatt Residence Club purchase will lose value. The value of your timeshare will fall over time, as all timeshares do. Hyatt Residence Club properties, with their level of luxury, are still depreciating resorts with a small resale market. You must factor in a 50% depreciation rate over ten years and expect to sell it much lower than your original purchase. If you did not purchase on the resale market, factor in 90%-100% depreciation over ten years.
Where is the best place to purchase your timeshare?
Do not ever purchase your Hyatt week from a timeshare presentation. These are priced 4-5x higher than the resale market.
We have all heard the horror stories of someone who was misled into purchasing a timeshare from the salesmen set up in their hotel conference room, only to find out later they’d been duped.
Remember, if it sounds like it’s too good to be true, it is. Timeshare salesmen like to present Hyatt point values as appreciating – but this is false!
Don’t be the next victim of the Hyatt presentation timeshare scam: the best place to purchase your timeshare is in the resale market. Email us at [email protected] for information on how to do this.
Online listings often feature vacation club timeshares that can be purchased at up to 90% discounts.
My Hyatt Timeshare Ownership
I personally own a Hyatt week at The Beach House in Key West, Florida. My week 51 (Christmas Week) was purchased at around 1/8th to 1/10th the original price it was originally sold for. However, the resort is not as exclusive now as when originally sold. It is still a beautiful resort and location, just not brand new. My annual fees for usage are $1,350 (as of 2019).
To rent Christmas week at Hyatt Beach House directly from Hyatt would cost me $630 per night, or a total of $4,410, so that is a savings of $3,060 each year. To rent the week directly from other timeshare owners would cost me $300 per night, or $2,100. So, in reality, my savings is right around $750 per year. My benefit to ownership is I have guaranteed use, whereas if I was renting every year, there may not be availability.
What about the depreciation of my timeshare? Yes, I will have depreciation. I expect to lose $3,000 on the value of my timeshare over the next 10 years, so about $300 per year.
By owning a week, I want to go on vacation – because I have paid for it already. My problem with the standard way of traveling is I hop on the internet, start pricing out hotels, comparing flights, and adding up all the costs. As soon as I realize the price is $4000-$5000 for the vacation, I text my wife and tell her “uh, honey, maybe we will just stay home this year?”.
If you have already paid your timeshare maintenance fees, the remaining major cost is flights. If you have saved up your credit card points for flights, then the psychological effect is better. You get a pre-paid vacation at a discount, plus credit card points for flights, which equals the perception of a low-cost vacation.
Here are a Few Tips for Ownership
#1. Buy for Convenience. Your Hyatt Residence Club timeshare is like a pre-paid vacation. It mitigates the need to spend endless hours on the internet, scouring various webpages for the best deal on hotel rooms only to find out that they are all fully booked for the week you are planning on.
#2 Budget. Make sure you have enough disposable cash left over to actually enjoy your vacation. Don’t stretch your budget to the point that you no longer have the required funds to purchase the airplane tickets that will actually get you to your destination.
#3. Use Interval International. Depositing your weeks opens up amazing trades. Hyatt Residence Club timeshares have some of the best trading power in Interval World.
#4. Only purchase a high demand week. Never purchase an off-season or shoulder season week, unless you are only paying $1. Only the Diamond or Platinum weeks at Hyatt have any value. You will never be able to re-sell it. There is just no demand for off-season weeks, for renting or selling.