This change will begin with the following 5 Diamond Resorts: If youd like to get more information regarding how this integration will affect you on the resale market, please feel free to fill out a contact form. Really opened my eyes into this segment of resorts (aside from The Excellence, Just got back from an unlimited luxury stay at Secrets Maroma (seemed like a good burn of sapphire points, last-min getaway). Funny to see various posts and comments in the travel blog sphere criticizing Hyatt acquisition. @Christian (and Ben), Sandals was structurally homophobic in the past (as were all such resorts). And, he added, Id like to reiterate that this announcement will have no impact on how we do business with you. For consumers who like all-inclusive properties, this is great news. As long as they think Hyatt can afford it, Hyatt can. -Zoetry: luxury that kids can stay at but targeted to adults-only What this means for current DRI i.e. On March 10 of this year, Apollo agreed to sell Diamond to HGV for $1.4 billion in a non-cash, all-stock transaction that will give Apollo 28 percent of HGV's stock and membership on its board of directors. I tried to go through a timeshare selling company which I paid Money for. This merger doesn't sound like it was in any owner's favor even the Hilton owners. Presentations will tell members that they have to buy in to use the Hilton properties and benefits and at huge prices. Please view our advertising policy page for more information. Two years ago, the tables were turned, when news reports surfaced that Apollo had submitted an offer to buy HGV. We were encouraged to attend a presentation and I was interested in hearing about the acquisition, being Diamond owners. So when January was coming close I decided to lower the $$ amount we would do. Looking forward to seeing what Hyatt does here. Terrible decision makers at HGVC. . My husband started having health problems and we were not able use the HGV! My husband then got very upset and said, why didnt they offer this to begin with.? Can you provide some industry guidance? Really opened my eyes into this segment of resorts (aside from The Excellence, which was very solid - Ive never tried AM) - even with Hyatts management, I will steer clear. You all sound like someone excited about an Olive Garden attached to some expensive mall. The pandemic gave all major travel companies, including timeshares, a yearlong timeout to recalibrate for travel to resume. So in other words, Hilton acquired diamond to take all its resorts to feed to their members, while locking diamond owners out of them, and forcing all the diamond owners to buy their more expensive project. Option 3, was buy an extra 4500 points for $20K to be grandfathered into the unknown HGV plan. Just book by specific location. In mid-August 2021, Hyatt announced a major acquisition. Please download an updated and supported browser . They tell me we have to upgrade, ( purchase another property) or we will never be eligible, even though we already own 2 properties. On the surface they say, oh we let you guys have a grandfather clause and if you want to remain in diamond, you can BUT, the caveat is, they are going to strip all the diamond resorts locations except for about 16 that are in the trust OUT of your diamond resorts system with the proclamation that even those resorts are subject to change at any time thusfor diamond owners who already spent thousands and thousands to own and are comfortable with the system and properties they have access to, must either spend a minimum of between 20 and 40 thousand dollars to purchase the minimum point allocation of 4500 points to convert their diamond ownership to hiltons HVG brand, or have their diamond ownership devalued down to 16 resorts, most of them the crappiest in the diamond portfolio save 4 or 5. Today Hyatt Hotels Corporation announced that it is buying luxury resorts operator Apple Leisure Group (ALG) for $2.7 billion in cash. Strategic Indeed, was it right or wrong only time will tell. Your feedback is important in helping us keep our community safe. Meanwhile, WoH members dont see a reasonable benefit imho. Both Hilton and Diamond are trying to screw the owners out of another $20K. Finest and Beloved are excellent (no pun intended) value and its a trip i like to make every year. ALGs portfolio includes over 33,000 rooms operating in 10 countries. What a joke! Then if this is the case $138.46 all the way to $1894.12 shows a huge issue. Most helpful comments ( as chosen by the OMAAT community ). 3) Folks like Ben should just focus more on cash bookings at high end, independent and 3) Folks like Ben should just focus more on cash bookings at high end, independent and boutique hotels. The answer was yes, you no longer can bank with interval (even if you have a membership on your own with interval international, Hilton only uses RCI) and you have to use Diamond's crappy Destination Flex program (which I never use because it is not user friendly). Would absolutely love if they bought it but not sure I would want it to be rebranded to Canopy. At adults-only Secrets Resorts and family-friendly Dreams Resorts, rooms average $300 and $225 a night, respectively. Since Diamonds was acquired, can we get out of contract? Thanks for the comments - I just went to the "update meeting about the merger" tonight (9/29/22) - .it was just a sales pitch like all of you said below. We were told that, if we didnt upgrade to HGVC, wed be left with shrinking inventory and rising maintenance fees. This answer was provided by RedWeek contributor, Jeff Weir. This is equal to $270.59 cents per night based on a seven night stay. This is huge for Hyatt leisure travellers, espcially those with families. Bottom line. Honest question -- how much cheaper can all-inclusives get? Were very bullish on leisure travel. Now my question is, how long will it take HGV to throw the BS diamond told me out the back door, then try to force me to spend more $$$??? Ehhh. One of Diamond Resorts' flagship properties, Mystic Dunes Resort features an on-site golf course and restaurant. Opinions expressed here are the authors alone, and have not been reviewed, approved or otherwise endorsed by any of these entities. It was the worst hotel I've stayed at in 10 years. We were at silver level. The deal has an announced purchase price of $480 million with the potential for an additional $120 million based on the final terms. They were nice, and told me they would try to sell it. Our passionate members who share a commitment to consistent, quality time away. Slow down. The sales presentation was very misleading, and of course a hard sale, that we almost went with. Maintenance should also be lowered because the community of properties are a smaller selection. Plus I asked if there will be reduced number of resorts for Diamond members then what was sold to us is no longer valid. Until check out time, and the woman assigned to this part was very clear and forthcoming when she went over the entire sale, which was NOT how it was presented to us. Curious as to what they all are. They are pressuring us to buy as well and Im refusing. I would join the class action lawsuit. While I love traveling to Europe and get very excited when Hyatt adds hotels in Italy or France, getting a long list of high quality all inclusive resorts available for points would get most Hyatt members excited. 1. They bought a whole new business model. My application got rejected because of unpaid maintenance fees. Over the years we upgraded to more points for $$s. So if enough of us stand strong they'll have to deal will us to get rid of some of those proprieties in the portfolio. A friend recently stayed there and by her Snapchats and Instagram stories, it looked extremely upscale. Should not our contacts be canceled and money returned? I have kids, I'm a globalist, and we love all-inclusives in the Caribbean, so this is an ideal acquisition for customers like me. Otherwise i will not have access to Hilton properties and some Diamond properties that do not meet Hilton standards will be closed. And they are still trying to sell new membership when the sales staff clearly have no clue what is happening! Diamond's 92 leisure resorts and nearly 400,000 owners uniquely complement HGV's 62 upscale and luxury properties and over 325,000 owners, and the combination will create the premier vacation ownership company with the broadest offering in the industry. The . I have no experience with this but I thought they had issues in the past.maybe it was Sandals after all and not Secrets. "Our plans are to re-brand Diamond properties to a new sub-brand of HGV, which will be called Hilton Vacation Club," said a spokesperson for HGV. Try calling any of the other numbers and getting a number for that departmentit is non-existent and no one will give it to you or if they do it's an invalid number. The so called plus for option 3 was, if we called into a special diamond department during a specified window of time and booked 20K of our 30K points at a non-diamond resort, then diamond would apply a credit of $6500 towards our maintenance fees. The presentation is just a sales pitch so they can get paid. The 50 most popular World of Hyatt redemptions, Do Not Sell or Share My Personal Information. Hyatt buying Apple Leisure Group for $2.7 billion. My only question is can we legally do something about this? View Vacation Offers Meet the Family They're our caring colleagues, our friends. This was this past year. What a lousy letdown - the place was anything but relaxing but instead, an adult day care with cheap and cheesy amenities to say the least. Hyatt expects to sell $3.5 billion of hotel real estate over the next three years, including $1.5 billion worth of properties this year. It is always stressful. ALG has resorts listed in Article secrets, dreams, breathless and more with partners. For a full view HGV's position on the acquisition, see this presentation made for investors. Points have to logically work their way back to a fractional ownership. World of Hyatt's top all-inclusive contenders. Choose the Extraordinary Hilton Grand Vacations Club Members That will include a centralized call center for all members to make reservations through Hilton, new travel packages that incorporate HGV and Diamond properties, new sales presentations for prospective buyers, new upgrade offers for existing members, etc. He is also a timeshare owner and member of RedWeek.com. The prices are high-end, too; at Zoetry boutique properties, the average daily rate (ADR) is $400 a night. I was told when we did a small point package for HGVMax there would not be fees to transfer our points to Hilton Honors or to roll our points over from Diamondnow I am told there are cost for everything now. Terms apply to the offers listed on this page. This is a step in the right direction for World of Hyatt considering one of the biggest complaints from loyalty members is the smaller footprint of Hyatt compared to Marriott and Hilton. As its described, heres what Hyatt is hoping to gain by acquiring ALG: Heres how Hyatt CEO Mark Hoplamazian described the acquisition when it was first announced: With the asset-light acquisition of Apple Leisure Group, we are thrilled to bring a highly desirable independent resort management platform into the Hyatt family. We got suckered into these timeshares as well. $1,899 Per Stay. Cash proceeds from the $2 billion asset sale programare expected to be usedto pay down debt, including debt incurred to fundthe acquisition. Then fractional ownership of condo for example would have to divide say $300 a month for the HOA and here guessing $300 a month on utilities this is $600 a month and $7200 a year. "Over time, we will provide additional details on how these two clubs might function together," HGV said in response to our questions. He worked in TV news for 20 years, including stints at ABC, MSNBC and Fox, before landing his dream job. As a result, Hyatt now offers one of the largest collections of luxury all-inclusive resorts in the world, including new . You will never be bored while you are staying here, unless of course you simply want to sit back and do nothing, which you are more than welcome to do. Accommodations included a fully-equipped kitchen, laundry facilities and full bathroom. For Diamond owners, that should be an upgrade, according to the industry experts who talked to us about Hilton's buyout of Diamond. Terrible article and hes getting more and more biased/entitled/opinionated/self-focused in his old(er) age (whereas IMHO he seemed a lot more balanced and objective in the past which is why I liked reading him). This is a very unfair deal and we were all kept in the dark by Diamond resorts and now Hilton's grand scam is being unveiled. Agree. Too bad they are so greedy. Find the right card for you. People are being really funny when accusing Ben of not understanding how expensive or exclusive this or that all-inclusive property is. All sides denied it, but kept talking about it, because a Wyndham-Diamond merger sounded like a good fit of timeshare cultures. Now, your ownership will be adjusted to give you 8,000 ClubPoints each year, but the points charts that show how many points it takes to book a 1 Bedroom Grand at Elara during Gold season will also be adjusted to 8,000 ClubPoints. We are in the same boat. ALG is one of, if not the largest travel industry wholesalers in the world. It's a world where, in times of economic crisis, the toughest survive. We are Diamond Gold, Hilton told us last week at the Las Vegas Polo Towers that only 10% of Diamond owners have not upgraded to Max, (I bet not) they offered us $14,900 to upgrade, $1,600 down and $300 a month for 10 years.) Improve earnings, maximize rewards and track progress toward dream trips. I was excited about that concept, though personally I cant say Im excited about the execution here. The original Escondido resort location has grown over the years, encompassing 450 acres where there are two 18-hole golf courses, seven swimming pools, a fitness center, five recreation centers,. In late 2021 and 2022, the bigger-than-ever Hilton Vacation Club will then include 154 resorts and 720,000 owners with a global footprint that offers travel to mid-level, upscale and luxury resorts. Begin typing your search above and press return to search. HGV offered no information on what will happen to Diamond's executives. I bought into Diamond Resort and then the Hilton because the salesperson said we could sell it and or rent it out. Hyatt is doubling its global resorts footprint through the addition of ALG's AMR Collection brand portfolio, which comprises approximately 100 hotels and resorts operating in 10 countries, as well as a pipeline of 24 executed deals in the Americas and Europe. We appreciate your continuing updates to keep us informed. Having the additional booking methods and travel agent access, as TrvlGuru pointed out, probably sold this deal, but these resorts are the icing on the cake here for WoH members. I think both of those are factually correct? to all of you! As new timeshare products become available, Hilton has hinted at a tight integration between the two vacation clubs. They're Days Inn Level resorts that happen to be on the beach. Bask Bank Review: My Go-To Savings Account. Yep, they first offered me 4500 points and a cost of $16,000, then 2000 points for a cost of $8,300. Interval International has over 2,500 resorts in over 80 countries around the world that are part of their exchange program. If anyone on this forum hears of a class action, count me in. document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); I am disappointed because the UVC I joined many years ago gave my husband and I affordable travel-not so much anymore as many of the hotels I visited have not stayed in the group and HYatt is so high end that we cannot afford to visit as often as we like. Soak up the sun. We would like to sell all of this within the next two years but where and how? Ben's "meh" headline was kinda "meh". They are offering us 4.25 a point. Enjoy a day by one of the pools or practice your swing on the course. As for the cost Hyatts money structure is completely different from most other public companies due to the Pritzkers. Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Hilton Grand Vacations has entered into a definitive agreement to acquire Diamond Resorts International, the largest independent timeshare operator, in a stock-based transaction value of 1.4. Once again they use scare tactics and carefully worded phrases in their attempts to have you pay again for access that we already purchased. Pretty sure this isn't the last purchase Hyatt ever makes. SellingTimeshares.net | Copyright 2011-2018 | All Rights Reserved, Closing Costs Definition Timeshare Terminology, How Marriotts Internal Exchange Priority Window Works, The State of The American Vacation is Terrible, Conversion Ratio for Immediate Hilton Honors Reservations, Hilton Honors Conversion Ratio for Following-Year Use, Hilton Honors Conversion Ratio for Following-Year Use (Hilton Club Only). A few thoughts: Hyatt has completed its acquisition of Apple Leisure Group, which is Hyatts biggest acquisition yet. Now, you can earn and redeem World of Hyatt points at some of them. This acquisition will be very successful for them. No thanks, as Im a 100% leisure traveler. Its typical big business take over bs and its the equivalent of Elon musk coming to your home and showing you a video of how great Teslas are and encouraging you to test drive one then as soon as you do, confiscating the car you already own and paid for, and making you buy the Tesla or just sit in the driveway because they took out your engine. In the near future, I'm guessing that HGV will only drag us diamond owners thru the mud a few more times before it's all said and done!!! How is this sane? As has been tracked in in recent years, America has been found to have, 2 Bed Plus | Annual | Fixed Week 51| 13440 Points, 2 Bed | Annual | Platinum Ski| 11200 Points, 3 Bedroom | Annual | Silver| 6560 Points. Has anyone sold their Polo towers? Feel bad for friend who have wedding there and spent thousands but not getting what she pay for. Sharon. Located mere minutes from many of Orlandos theme parks, Mystic Dunes Resort & Golf Club is a perfect family-friendly destination. We will love to be part of the class action suit. Leisure travel appeals to all income levels, so if you want to get big in leisure travel, it cant be all 100% super luxury. The difficulty lies in finding any attorney or attorneys who will take this on. Well explain what is changing and what these changes mean for you. Importantly, the combination of this value-creating acquisition and the $2 billion increase in our asset sale commitment will transform our earnings profile, and we expect Hyatt to reach 80% fee-based earnings by the end of 2024.. This site does not include all credit card companies or all available credit card offers. I need to get out of this contract. It is based on a 100,000 dollar a year income. Loyalty programs arent going to be narrowly tailored to peoples tastes. If you own more points you own more weeks in theory. So we took a huge loss basically got $5,000 just to get out of the deed. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. I would hope Hilton is large enough they are not trying to do this to previous owners. Make sure you say that you saw this message via ''Red Week''. Im sad to say that we feel betrayed by Diamond Resorts and Hilton. We did our presentation this morning. All they want is money. We're excited about luxury in particular because we expect the global luxury travel market to grow at about 11% from 2021 to 2027..
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