I'm interested in buying Hilton or Hyatt VC - Why have so many hit the resale market?

My husband and I are strongly considering purchasing either a Hilton VC or a Hyatt VC timeshare. We are not impulsive people at all! We are planners, researchers. We have been to presentations from both companies. I turned to the net to find out more about the owner satisfaction of each company. I found TONS for sale on the resale market. I am just interested to know....why are all of these for sale? Our salesman at Hyatt cautioned us so strongly about buying a resale timeshare. He even went on to say that Hyatt would never allow a resale. Yea, right! There are tons of them out there. Can someone give me an idea the ins and outs of ownership period as well as why so many might be for sale. Thanks so much! Lisa/Texas

Resales are on the market for several reasons:

1. The buyers develop buyer's remorse (for whatever reason) and just want to get their invested money back (which never works on the resale market reselling developer bought timeshares for what they paid, but they don't know that).

2. They thought they would use their week(s) but ended up not having the time to do so.

3. They got sick and tired of rising maintenance fees, special assessments and rising exchange company fees.

4. They have trouble getting all the great exchanges a timeshare salesperson told them they would get.

5. They are having financial difficulties.

6. They become disillusioned with timesharing.

7. They find out they could have bought the exact same week on the resale market for 1/3 to 1/4 of what they paid the developer.

There are many other reasons that there are millions of timeshare resales on the market. The above are just a few.

lisam512 wrote:

Our salesman at Hyatt cautioned us so strongly about buying a resale timeshare. He even went on to say that Hyatt would never allow a resale. Yea, right! There are tons of them out there. Lisa/Texas

And lies like the above.

jayjay wrote:

lisam512 wrote:

Our salesman at Hyatt cautioned us so strongly about buying a resale timeshare. He even went on to say that Hyatt would never allow a resale. Yea, right! There are tons of them out there. Lisa/Texas

And lies like the above.

Okay, I am prepared to hear that I was lied to! Our Hyatt salesman assured us that the maintenance fees would NEVER NEVER go up. That seemed to good to be true at the time.....guess it was, right?

lisam512 wrote:

Okay, I am prepared to hear that I was lied to! Our Hyatt salesman assured us that the maintenance fees would NEVER NEVER go up. That seemed to good to be true at the time.....guess it was, right?

Exactly, just another lie. You are a very astute person by doing your homework before purchasing any timeshare. There's an old saying in timeshare forums, "if a timeshare salesperson moves his/her lips they're lying".

I have not read each and every topic on this forum by far; however, the few hours that I have spent reading have had a similar feel. Most are upset/disenchanted with the timeshare they own. They are trying to get out of it, it was a scam, it was a bad experience on a trip, etc.

I have a financial background. I understand the numbers/contracts as well as anyone probably. Even after hearing others woes, this is the question I can't get past.....

If a person, like me, buys a resale timeshare for a fraction of the original cost, understands the maintenance fees and their propensity to increase, is there a way to lose? It appears that we can buy a high end timeshare for 4-6K for a 3 bedroom, ton of points. I can't imagine this could be a failure. Could it?

Overall, would someone comment on this basic question.

lisam512 wrote:

If a person, like me, buys a resale timeshare for a fraction of the original cost, understands the maintenance fees and their propensity to increase, is there a way to lose? It appears that we can buy a high end timeshare for 4-6K for a 3 bedroom, ton of points. I can't imagine this could be a failure. Could it?

lisa, i'm not familiar with points so I can't comment on that issue, but you have to remember that if the deal of 4-6K on a 3 bedroom high end timeshare with a ton of points is what you're looking for then I see no reason not to buy it. 4-6K seems a very good deal for a high end, 3 bedroom timeshare, depending on season bought.

It's all in what the buyer is looking for. There are many people that know about resales, but they buy from the developer anyway to get the extra perks/points. The money spent is not an issue to them.

Resales are for people looking for a deal to save them money.

JayJay, I am definitely the person looking to save money. I understand that there are other perks offered by the developer. Granted, they are attractive. If you caculate the price difference between a resale TS and the developer TS, you are going to pay HEAVILY for those "free" perks/points. You are right, some buyers truly don't care about the money. I am always a bottom line person (too much time spent in accounting firms I guess!).

Regarding the points....both Hyatt and Hilton are based on a points system. You spend your points just like money. When you buy the TS, you buy a particular week at a particular property, deeded. I guess I miss the point about getting a "good season." All that original purchase does is guarantee you a certain week at that particular resort. I can't imagine that we would want to go back to the same resort each and every year no matter what week we had. Factor in also that we have young children who have school schedules we must follow. In my opinion, what you are buying (regardless of the deeded TS) are those points which are nothing more than your leverage to bid on other properties/times/etc. that may fit your schedule and lifestyle better. Is this backwards thinking? I am so new at this. I am afraid that I am underthinking the issues! I appreciate your input very much. Lisa

Lisa, I would post your question in the Points forum. People threre are more familiar with points and the different point programs.

I definitely agree that a points program is the way to go now and in the future. They are much more flexible than the fixed 9 weeks that we owned.If we ever get back into timesharing it will definitely be in some type of points program.

Wait just a minute. Before your resale purchase, make sure the company that you're buying:

1. Allows you to trade into it's other properties (I've read that many will not, that the points may only work at the home resort after resale)

2. Allows you to use all it's facilities. (I've read that some people lose the free spa, parking,gym priviledges on the resale)

3. Doesn't tie up your money for eight weeks on a first right of refusal contingency.

4. Will continue to enjoy "ocean view, 1 year reservations, or whatever the original owner enjoyed"

These may sound like perks, but to many people they are minimum requirements. I've even read that one person that bought a resale had to purchase a membership into the vacation club afterwards.

I've had great luck with my second-hand purchases. But, do your homework, don't just take someone's word for it, they may not know. Good luck

lisam512-

We own a fairly new oceanfront 2 bedroom at a Marriott resort in Hilton Head, SC. We belong to II.

First, like Jayjay, I don't know much about points, since Marriott doesn't use them. But the season you own (at least in II) counts for a lot, and the 'high' season obviously changes depending on where your resort is located.

If you own at Hilton Head in Bronze season (only a few weeks a year around Christmas and first week of January), your possible trading power is very low since few people want to go to a beach location that will be fairly cool if not cold that time of year. And by the way the salesmen don't mention that you'll have some trouble trading that week if you buy it!

Silver season is a little better timewise - late Fall and very early Spring. Gold season at HH is end August til early November and mid March through beginning of June, ideal times (weather wise) at Hilton Head since humidity is low and temps are warm - great for golf (which is a big thing at HH) and usually fine for ocean water too (except March and early April). This season has pretty good trading power.

High season at HH (due to beach and summer vacations) is Platinum - early June through most of August and has the highest trading power.

But that is all at HH - at a resort in say Colorado where skiiing is the big thing, the Platinum weeks are probably the Silver weeks at HH, or perhaps the Bronze HH weeks.

So I think the season does matter, at least in the Marriott system. And, having traded into many other Marriott timeshares, I'd really suggest that you add them to your research since every one I've stayed in has been top notch and they seem to cater to families.

Kathi, in a system where you are buying a specific block of time, like Marriott, the season is EVERYTHING. In a points system, it really isn't. When you buy your TS, you are buying a deeded property for a specific week PLUS some more points. All that deeded property week does for you is guarantee your reservation (if you act in the allotted amount of time). If you don't choose to take it, oh well, no problem. So, really what you are buying is those points that can be used anywhere at anytime. Does it cost more points to use them at a resort during the supposed "platinum" season, absolutely! I think that is the equalizing factor. If you want to stay in Aspen, in January, it is going to cost you a boat load of points. If you want to stay in San Antonio, in January midweek, it is going to cost you very very few points. Thanks so much for your explanation. I was not aware how the programs worked that are not point based. Lisa

Wow, Orville, I had no idea! Thanks so much for your post. We aren't quite ready to pull the trigger just yet on any deal. I need more info. Honestly, I am still at the stage of, "Wow, I could save a lot of money by NOT buying it from the pushy developer!" Your post really made me stop and think. I will get a lot of info before I buy a resale. Thanks!

Lisa, I've been eyeballing Hyatt. I'm a DVC member so am familiar with points. From what I have seen on the resale market for Hyatt are either the ski resorts where you get 1 week during ski season, plus around 10 flex days. I believe they are actually 1/20th share. Rather pricey, the lower priced Hyatt's I've seen(FL.AZ) ones seem to be in bronze season which doesn't really give you many points to trade(so you go during less desirable times or can't stay for a full week).

I've got kids too and we really like the flexibility of the Disney points. We own at Saratoga Springs(on site at WDW) and Vero Beach. You have to be on the ball with the booking windows for your home resort for holiday periods(11 months out, then it's every person for themselves at 7). If you really need to be on the ball during busy times, which don't always conicide with common thought.

Hyatt, keep looking elsewhere