It was more like $35K. 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. Gonzalo del Pen, Group President, AMResorts Americas & Global Commercial, said the merger will allow the company to offer more options to guests and realize expanded growth potential. Located mere minutes from many of Orlandos theme parks, Mystic Dunes Resort & Golf Club is a perfect family-friendly destination. Hyatt currently offers eight all-inclusives in the Caribbean and Mexico under the Hyatt Ziva and Zilara names, while the AMR Collection includes the Secrets, Dreams, Zoetry, Breathess, Alua, and Sunscape resort brands. Full disclosure: the author of this Ask RedWeek is a longtime owner at Diamond Resorts. For more TPG news delivered each morning to your inbox, sign up for our daily newsletter. Many of our features might not work. Check back for the latest news on the World of Hyatt expansion. We also recently attended an update after being told the same thing - we had to invest another $20K+ to be a part of HGV. 1 | 2. Aren't all of the Ziva/Zilara properties owned/run by Playa Resorts? Adding this with my initial investment this is crazy. The US hotel group said in a statement Sunday that it has agreed to buy luxury resorts operator Apple Leisure Group from private equity firms KKR and KSL Capital Partners for $2.7 billion. Am I missing something here? + Get 15,000 Hilton Honors Points. I stayed at Zotry Paraiso de la Bonita Riviera Maya last May. In 2009, 63% of Hyatts earnings came from owned and leased properties, with fee-based earnings making up the remaining 37%. A few days later they called again and you automatically go on hold was waiting over 45 minutes and when the person answered they hung up immediately. Marriott Vacation Club to buy Vistana, Hyatt, Interval - RedWeek Lasting vacation memories. Too bad they are so greedy. I went solo last year to Secrets the Vine in Cancun and ocean skinny dipped with a gay gentleman from Texas and a 60-something lady who was there with a girlfriend. Explore Vacation Ownership | Hilton Grand Vacations It is always stressful. My application got rejected because of unpaid maintenance fees. One of Diamond Resorts flagship properties, Mystic Dunes Resort features an on-site golf course and restaurant. The primary reason for this change is because Hilton wants to make it easier behind-the-scenes to integrate the club vacation clubs with one shared booking system. On paper, the HGV buyout of Diamond appears to be a big win for HGV and a muddled ending for Diamond, which was bought by Apollo Global Management (an investment fund) in 2016 for $2.2 billion. Well explain what is changing and what these changes mean for you. I wonder if Hilton will dramatically increase my value and if I could sell it in the future for more than is offered now. I would advise everyone to seek counsel and start a lawsuit. 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. According to Hyatt, the company is currently working to determine how the World of Hyatt program and ALG's . All sides denied it, but kept talking about it, because a Wyndham-Diamond merger sounded like a good fit of timeshare cultures. All I said is that I'm personally not excited about this as a consumer, based on my own travel patterns, and that Hyatt is spending a lot of money here. What this means for current DRI i.e. RedWeek, Inc. is a Registered Seller of Travel in the following states: Oct 22, 2021 (edited), Apr 05, 2022 (edited), Jun 11, 2022 (edited), Jun 15, 2022 (edited), Dec 05, 2022 (edited), Jan 05, 2023 (edited), Jan 18, 2023 (edited), Feb 19, 2023 (edited). Nothing wrong with that, of course, but if that's the most premium property, and we're calling this an acquisition of "luxury resorts," maybe you can see where my skepticism comes from? I turned both of them down. We were majorly scammed. Currently, the two clubs are separate in the sense that owners can not book a reservation at the other clubs resorts using the points they currently own. Hyattexpects tofund more than 80% of the purchase with a combination of $1 billion of cash on hand and new debt financings, and the remainder with approximately $500 million from equity financing, according to a statement. + Get 15,000 Hilton Honors Points. During the trip following, my husband decided to attend another of their "meetings" and they explained that we needed to put in another $10K to ultimately save on maintenance fees. 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). After I got upset and said it criminal my sales associate disappeared, and he manager offered us the same membership for 30k . Marriott Vacations Worldwide bought independent Welk Resorts to add eight more high-touch resorts to its portfolio. Our passionate members who share a commitment to consistent, quality time away. 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. I hope i have a chance bases on the fact that I do not fit the creteria. Hyatt Spends $2.7 Billion To Become World's Largest Operator - Forbes You all sound like someone excited about an Olive Garden attached to some expensive mall. It'll all become second nature when you make your second home among our collection of family-friendly Hawaii timeshare resorts located along the golden sands of Waikiki Beach, majestic mountain valleys of . We don't travel as much and our financial situation has changed. ALG has resorts listed in Article secrets, dreams, breathless and more with partners. 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. ALG is continuing to operatevery similarly to the way it did before the combination. "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. Just imagine spending a week or longer just lying around on the beautiful beaches. Strategic Indeed, was it right or wrong only time will tell. Hilton Grand Vacations To Acquire Diamond Resorts - Quick Facts The $2.7 billion cash deal is expected to close in the fourth quarter of this year. Here you can have the most relaxing vacation of your life, or enjoy some of the many outdoor adventures in the area. Another 24 properties are in the pipeline. I'm not particularly excited about Hyatt being 'asset-light' - that means they will have less and less skin in the game, and their whole thing becomes a marketing/booking service. Advertiser Disclosure: Some links to credit cards and other products on this website will earn an affiliate commission. They just added about 100 properties that you'll be able to book with points. Hyatt senior vice president of loyalty, brand marketing and consumer insights Amy Weinberg told TPG: Hyatt, in a press release announcing the news, said, Whether youre planning a rejuvenating wellness break, time to relax for two, some quality family time or the ultimate destination wedding, the planned addition of these new resorts to Hyatts existing collection of 1,000+ hotels will give you even more memory-making options., Related: A complete guide to Hyatt Hotels. This is no way to transition the loyal Diamond members who have acted in good faith and had no say in the process. We're excited about luxury in particular because we expect the global luxury travel market to grow at about 11% from 2021 to 2027.. As a Globalist and a father of a 2 year old working on making another one, this is very exciting news for me. What a joke! 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. HGV offered no information on what will happen to Diamond's executives. So we took a huge loss basically got $5,000 just to get out of the deed. Probably for the best that Hyatt did not buy them to keep Excellence Group a secret (again no pun intended either). I own (have a deed) for a Diamond Resort property in Florida. This is a big letdown because the one thing I don't like about Hyatt is its small footprint. Hyatt Hotels to Acquire Apple Leisure Group, Parent of AMResorts Its recommended to use a Licensed, Bonded, and Insured closing company. In particular, Hyatt will gain 40 properties in Spain and three in Greece. It would have been easy to figure out what our Diamond points are worth in HGVC and moved them over. 100 new properties to join World of Hyatt as Apple Leisure Group deal I saw Hilton Grand Vacations just agreed to buy Diamond Resorts. ALGs portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets, including in Europe, and further accelerate our industry-leading net rooms growth. Secrets, Zoetry & Sunscape properties were bookable using Choice Hotel points for between 40k-60k points per night. Not sure I like this. @ Julia -- Did I, or anyone else, say that this was a bad investment? I for one am super-excited about this. Apple leisure is a tour company with hotels not the other way around. Why Hilton Grand Vacations Upped the Bid in $1.4 Billion Timeshare Takeover She did good and we feel for it. I will be researching the best way to unload this timeshare! They were nice, and told me they would try to sell it. Finest and Beloved are excellent (no pun intended) value and its a trip i like to make every year. This will help funnel guests to current Hyatt properties and away from their competition. This acquisition will be very successful for them. Maybe they see the Covid writing on the wall for cruise lines and know that all-inclusive vacations will appeal to that customer. Points have to logically work their way back to a fractional ownership. -Sunscape: budget family-friendly. I am not excited by this at all but if its makes some money for Hyatt, good for them. Had my owner's update in Feb 22. This assesment could help educate you into making the right decision. How will Hilton buying Diamond affect owners of both clubs? -Breathless: luxury adult-only social The costs for employing a closing company for holding escrow, performing title search, rewriting the deed, recording the deed and executing resort specific transfer documents. Hyatt spent $2.7 billion acquiring Apple Leisure Group, and it's nice to see the group's 100+ all-inclusive properties increasingly being added to the World of Hyatt portfolio. We strongly believe we can achieve more together said ALG president and CEO Alejandro Reynal, who will continue to lead ALG as a distinct business unit within Hyatt. Marriott International is adding 19 Blue Diamond Resorts - Travel Weekly The high-end of the pricing of what I'm seeing in some destinations is a Planet Hollywood property that's all-inclusive. Today marks the beginning of ALGs next chapter, in which we will continue to build on the strong loyalty and reputation we have established through our luxury travel brands and services, now as part of Hyatt. My only question is can we legally do something about this?
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