Timeshare systems are very complicated but once you get a handle on the various in and outs of the programs, there are some clear strategies that you can use to maximize ownership.
EXCHANGING YOUR WEEK
The general strategy that I use is to exchange my weeks through the exchange companies. By doing so, my weeks turn into points and my points are worth more through the exchange companies then through many of the internal trading systems. This is not always the case but I can say that this is generally the case for my particular weeks that I own.
As I discussed on Doctor of Credit, one of my weeks is at the Hyatt Beach House in Key West, Florida. I have never been to this resort and will likely never go. While I would like to visit Key West at some point, my existing week is too valuable through my use of points to simply use my one deeded week. As a result, I will never use my deeded week
WHY I BOUGHT MY WEEK
I bought my Hyatt for a couple of key reasons.
1. I really enjoy Hyatt hotels and resorts. While their footprint is smaller than some of the other hotel chains, their properties are generally top notch.
2. Hyatt has a timeshare property close to where I live. We use it a few times a year and I wanted to be able to have a resort close to home for any years where we did not or could not travel by plane.
When I first bought this particular timeshare, I recognized that there was some value based on our travel and vacation style and the system but did not fully understand the ins and outs of the program. Most first time timeshare owners do not do a ton of research and end of purchasing a timeshare without a plan. I got lucky in that despite not knowing everything, this week continues to work out very well for my families use.
INTRICACIES OF THE HYATT SYSTEM
One of the interesting parts about the Hyatt program is that you can trade it through their interval exchange system or use Interval International for the external system. The interval system allows you to book 2, 3, 4 or 7 nights for various amounts of points.
Here is the overview of the Hyatt system:
There are some ways to maximize your points in the internal system but the amount of points required for the external exchange is generally much better. For example, you need 750 points to get a studio during the highest demand times through the internal system but you only need 430 points to get a studio during the highest demand times through Interval International.
The fees with Interval International are much higher but I still find this to be a better use of points despite the additional cash outlay.
THE HYATT INVENTORY BLOCK
The interesting thing about Hyatt and Interval International is that Hyatt owners cannot trade into Hyatt properties through Interval International. If a Hyatt owner wants to stay at a Hyatt property, you NEED to book through the internal system. Interval International blocks all inventory from Hyatt owners so you cannot see any available exchange weeks or any Hyatt getaways.
I find this a little frustrating as I really enjoy Hyatt properties. However, as a result of this, I actually stay in more Marriott properties than Hyatt properties despite being a Hyatt owner.
It is somewhat surprising than this is what occurs, but since the external exchanges are more advantageous and since Hyatt inventory is blocked through the external exchanges, I end up looking for other high quality resorts which many times are Marriott properties.
Marriott is obviously a large hotel chain but they are also one of the largest timeshare operators. All of the Marriott timeshare properties that I have been to have been high quality accommodations.
BUY A HYATT FOR TRADING TO MARRIOTT
Getting back to the point of my post, if you are interested in staying predominantly in Marriott properties, it may actually be advantageous to purchase a Hyatt timeshare rather than a Marriott property. This is completely counterintuitive but can be a fantastic strategy.
I am actually currently looking to buy a Marriott timeshare solely to be able to trade in Hyatt properties and to get access to Interval International's Hyatt getaway weeks. I'll post more about this process including what property I will choose, the cost and additional strategies resulting from this purchase.
You can definitely exchange into Marriott properties with other timeshare brands that trade through Interval International but I wanted to highlight this particular strategy of buying one brand of timeshare even though you actually prefer staying in an alternate brand of timeshare.
This particular strategy can work in various ways with various different brands but the point of this post was that you need to see what exchange company a timeshare trades through and if there could be some limitations. If there are, you need to fully understand them so you can figure out how to maximize it.
In other posts, I will go through other intricacies of particular programs and what other strategies may work to your advantage.
What strategies do you use? Did you ever consider a similar strategy before purchasing your timeshare?