The Hyatt System is a hybrid week / point system. Owners purchase a specific week and can elect to use that specific week or convert their owned week into points. The amount of points given will depend on the size of the unit as well as the season of the owned week. Hyatt uses seven designations for the seasons. The seasons are Mountain, Copper, Bronze, Silver, Gold, Platinum and Diamond. Hyatt also is unique in that it allows you to book, 2, 3, 4 or 7 night stays with you points. If you elect to convert into points, the amount of points needed for each type of stay is shown in the chart below.
UNDERSTANDING THE POINT CHART:
While the chart above appears daunting, you can figure out the amount of points needed for each property during each week of the year. The properties are shown on the first line and the seasons are shown on the left hand side. The numbers represent the timeshare weeks which are the weeks of the year from week 1 through week 52. The point value chart on the bottom shows you the amount of points needed based on size of unit and whether you are looking to reserve a 2 night, 3 night, 4 night or full week.
For example, if you own a 2 bedroom unit for week 47 at the Hyatt Beach House in Key West Florida, you can use the above chart to determine the amount of points. First, you look at the destinations on the top. You can see that the Hyatt Beach house only has 2 bedroom units. In looking down the column, each week number is listed. Week 47 appears during the Platinum season. Now, you can review the Hyatt Residence Club Point Values Chart at the bottom. You look at the Bronze season and look at a 2 Bedroom chart for a full week and you can see that this particular week is worth 2,000 points.
Once you can see that the particular week is worth 2,000 points, Hyatt allows you to either use the specific week, in my example being week 47 at the Hyatt Beach House, or use 2,000 points to reserve at any one of the Hyatt resorts. The amount of points needed for a particular week or 2, 3 or 4 night stays is again based on the above chart.
For example, if I wanted to reserve a four night stay at the Hyatt Grand Aspen in a 1 bedroom unit for a January ski trip (weeks 1-4), I first determine the applicable season based on the weeks. As shown above, weeks 1-4 are considered Platinum weeks for the Hyatt Grand Aspen. Now, I review the chart below and look to see how many points are required for a 4 night stay at the Hyatt Grand Aspen for a Platinum season reservation and see that it takes 520 points. If I went through with this reservation, I would still have 780 points out of my week to use at the various resorts.
2,3,4 and 7 NIGHT RESERVATIONS:
As mentioned, Hyatt is one of the few programs that offer 2, 3, 4 or 7 night options for reserving nights. This does provide a lot more flexibility to those travelers who do not typically stay at resorts for week long stays. The catch to this is that 2 night stays are only available for midweek check-ins, being a check-in on a Sunday, Monday, Tuesday, Wednesday or Thursday. Friday or Saturday night check in are not available.
Three night stays begin on a Thursday, Friday or Saturday night. Four night stays begin on a Sunday, Monday, or Tuesday night. Seven night stays begin on a Friday, Saturday or Sunday night.
In taking all these nights together, it is important to note that you cannot book a 2 or 4 night stay that includes a Saturday night. This does present some issues as most trips do include a Saturday night. In addition, a 3 night stay will always include a Saturday night but as shown above, the point requirements for a 3 night stay often, if not always surpass that of a 4 night stay.
The Hyatt Residence Club has various time restrictions on when you can reserve your week for the upcoming year or exchange into other Hyatt properties. Hyatt uses various acronyms to describe these features. The Home Resort Preference Period (HRPP) is the 6 months following the date of your deeded week. This 6 month period commences at the beginning of your deeded week. You will then have 6 months to make a decision if you want to use your specific week or convert that week into points, either for use within Hyatt or for its exchange partner, Interval International.
For example, if I own week 47 (Nov 18th for 2016), I will have until May 18, 2017 to decide whether I want to use my specific deeded week at my home resort or convert that week to points. The amount of points for my week will be determined by the chart above. In my example, a 2 bedroom unit at the Hyatt Beach House will convert into 2,000 Hyatt Points.
If I elect not to use my week, 2,000 Club Use Points (CUP) will appear in my account. I will then have 6 full months to make reservations with the Hyatt system based on the chart above. I will be able to make reservations for 12 months out so I will have approximately 18 months to make reservations without restrictions. If I do not make any reservations using my CUP points during the 6 month period, those CUP points automatically convert to Limited Club Use Points (LCUP). LCUP points can be used for another six month period but only for reservations checking-in within 60 days. This will limit you on your ability to reserve weeks or nights with a check-in date later than 60 days.
After the six month period of LCUP, any remaining points will automatically expire. It is important to be aware of these time frames and make sure that you make important decisions within the applicable time frame.
EXTERNAL EXCHANGES WITH INTERVAL INTERNATIONAL:
Hyatt currently partners with Interval International to allow for exchanges to non-Hyatt properties. If you want to exchange for Hyatt properties, you must exchange within the Hyatt system based on the chart above. Even though other non-Hyatt owners will be able to see Hyatt exchanges through Interval International, Hyatt owners are blocked from seeing that inventory.
Hyatt does allow you to transfer your CUP points to the Extended External Exchange Program (EEEP). This allows you to transfer points to Interval International and make exchanges based on their program and point values. Interval uses the following point system for Hyatt owners looking to transfer into other non-Hyatt properties:
The above chart shows the amount of CUP points needed to reserve within Hyatt. As will be detailed in other points, the ability to exchange into Interval does provide some benefits that can allow a Hyatt owner to reserve multiple weeks for their deeded week. Additionally, if you move your CUP points to the EEEP, the points will remain valid for 24 months. In those years that you cannot use your week or your points, this will allow you to bank those points for later use.
In the event that the timeshare owner wants to book additional weeks using their points for future vacations but has already used points for the current year, Hyatt does allow an owner to borrow points. To borrow points, Hyatt requires that you pay the upcoming years maintenance fees plus a transaction fee of $41.00. The material limitation to this feature is that you can only book a reservation 60 days in advance. While this feature is nice to have, it rarely makes sense to do except in specific situations.
OWNER'S DISCOUNT RESERVATIONS:
Hyatt also offers Hyatt owners the ability to pay cash for their weeks instead of using points or in lieu of using points if there are no remaining points. Hyatt offers a discount of up to 40% for cash bookings. In order to explore this option and see if the quoted rates are better than other online sources, you will need to be logged in to their system. In the past, these rates have been quite favorable but recently the discounts seem to be minimal. However, it is definitely worth checking out for availability. One perks of the cash function is that you can reserve any number of nights with a minimum of just one night and the night can begin on any night of the week including weekend nights.
CONVERTING POINTS TO HYATT GOLD PASSPORT:
Hyatt also provides the option to convert its its hotel loyal program, Gold Passport. The Gold Passport program allows you to use your CUP points to reserve into standard hotel rooms based on the Gold Passport redemption opportunities. Out of the major hotel programs, Hyatt's Gold Passport is generally favorable with some excellent redemption opportunities.
The amount of Gold Passport points given for CUP points differs and there are fees and restrictions. In order to convert to Gold Passport points, you will be required to pay of fee of $133 (as of August, 2016). You will also be restricted to do so once every 2 years and once every 4 years for biennial owners. While Gold Passport redemption's can be favorable, converting CUP points to
Gold Passport is generally not a good deal for owners. As explained throughout this blog, there are much better redemption opportunities to maximize ownership. However, in the rare situation where you will be traveling to a location without a timeshare exchange opportunity, this is a helpful feature.
RIGHT OF FIRST REFUSAL:
In the event that you wanted to transfer or sell the timeshare, Hyatt has a right of first refusal. This right of first refusal requires the owner to let Hyatt know of any proposed transfer or sale before it occurs. Hyatt, has the right, but not the obligation, to purchase the timeshare on the same terms as being offered by the third party. This right of first refusal is meant to allow Hyatt the ability to control the value of the timeshare by minimizing low cost sales in the secondary market.