ALG is continuing to operatevery similarly to the way it did before the combination. Had my owner's update in Feb 22. Are you looking at the right group, Ben? Why the negativity about this acquisition? Just imagine spending a week or longer just lying around on the beautiful beaches. 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). Hyatt Buys Apple Leisure Group, 100+ Hotels, Hyatt buying Apple Leisure Group for $2.7 billion, How Hyatt explains Apple Leisure Group acquisition, resorts will be integrated into World of Hyatt in 2022, Hyatt was looking to acquire a hotel brand, Thompson Central Park New York Launches Upper Stories Concept, Hyatt Sells Alila Ventana Big Sur For $150 Million, Please view our advertising policy page for additional details about our partners, An expanded footprint in luxury and resort travel this acquisition is expanding Hyatts presence in luxury leisure travel, as it will double the number of resorts Hyatt manages, and will allow Hyatt to offer the largest portfolio of luxury all-inclusive resorts in the world, Major expansion in Europe this will grow Hyatts European footprint by 60%, and will allow the Hyatt brand to enter 11 new European markets, An expanded platform for growth ALGs developer and owner base will expand Hyatts relationships with committed partners in key complementary geographies, Hotel owners will benefit owners of Apple Leisure Group resorts will have access to a much broader collection of brands (in other words, we could see some of these hotels rebranded under one of Hyatts existing brands), along with the backing of Hyatts global distribution, sales, and marketing, More options for World of Hyatt members its expected that these, This will expand Hyatts end-to-end leisure travel offerings ALG Vacations is one of the largest package tour providers and leisure travel distribution platforms in North America, so Hyatt could get more into the package holiday business, This allows Hyatt to grow its asset-light strategy ALG is asset-light, and with Hyatt continuing to sell real estate assets, the company hopes to increase the percent of revenue generated from fees, This reflects that Hyatt is looking to grow in the leisure market, which is logical at this point, given that its anyones guess when business travel will get back to 2019 levels, This is a huge purchase Hyatts market cap is $7.3 billion, and this is a $2.7 billion acquisition, so proportionally this is almost like when Marriott purchased Starwood, The heavy focus on all-inclusives is going to be polarizing some people love all-inclusives (especially those with families and those who like hanging out at resorts), while others dont enjoy this type of vacation, I think it might be a stretch to suggest that all/most of these properties are luxury resorts, as Id say most of these properties are more mid-range, Assuming theres not a major rebranding of existing resorts, Hyatt is getting worse than Marriott here in terms of the number of hotel brands it will have, Browsing Apple Leisure Groups portfolio, theres not a single hotel that jumps out and me and makes me say I cant wait to stay/redeem points here! (which isnt to say I wont stay at one, but its not like when Hyatt acquired Two Roads Hospitality, and I suddenly saw a dozen hotels I desperately wanted to stay at), I really wish Hyatts acquisitions were a bit more strategically focused for consumers in terms of growing on its core value proposition; while Im not a huge IHG fan, I love how IHG wanted to grow in the luxury space, and then acquired Kimpton, Regent, and Six Senses, all of which are great brands (gosh, I would have loved if Hyatt acquired Six Senses instead! I need to check on this, and wow the resorts are out of this world amazing and I am glad to spend my initial investment plus $450 annually. Since I arrive i told the sales lady ,we aren't spendding no more money. We're very unhappy and want out. When you stay at Flamingo Beach Resort, you will have all of this, and more. Words matter. My thought is I am going to just sit tight and see what else they offer - this honestly can't be it. All the paperwork is under Diamond but she keep saying that we where Hilton. I told him no. What they are not telling you amidst all those marketing marveling and chanting of how great Hilton is, and how much they did a study looking at all the problems and complaints that diamond owners had worn their vacation packages, is that they are effectively FORCING diamond owners to buy Hilton points and convert over to the new HVG system. Any ideas from anyone on how to let this timeshare go? 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. We also will love to get out of the Diamond Resort, since the merge with Hilton is been a nightmare. Very diverse crowd at Secrets - all-inclusive and people inclusive resort. "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. I am excited to see how all of this unfolds. 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 am not going to sign up. Then if this is the case $138.46 all the way to $1894.12 shows a huge issue. Too bad they are so greedy. What is this transition going to mean for me in regards to my annual maintenance taxes and banked weeks. This will help funnel guests to current Hyatt properties and away from their competition. 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. Hyatt Residence Club provides flexible access to global travel experiences through a diverse portfolio of boutique residential-style retreats. @ Christian -- Did they, that's interesting, as I don't think I've heard that before? 5302. Secrets, Zoetry & Sunscape properties were bookable using Choice Hotel points for between 40k-60k points per night. At Selling Timeshares, Inc., Exchanging Marriott Vacation weeks through Interval International is a great way to get more out of an MVC membership. Hilton will be the 5th owner of that property since I bought it 17 years ago! It would have been easy to figure out what our Diamond points are worth in HGVC and moved them over. Secrets is NOT couples only, its just a focus. We are so glad that we did. Well just before year end an offer came in and it was very low. 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. I need to get out of this contract. + Get 15,000 Hilton Honors Points. It seems unless we spend more money we will have less to choose from. All and all I eventually added it all up and the amount we had invested was astounding! The result, so far: Wyndham Destinations rebranded its entire company to shift towards a travel-club model that offers all travel services, not just reservations at timeshares. Today Hyatt Hotels Corporation announced that it is buying luxury resorts operator Apple Leisure Group (ALG) for $2.7 billion in cash. Even after upgrading less than a year ago. HGVC and Diamond owners alike should push back hard on this. Tell them what you think!!!!! How can you excess maintenance fees on properties that are no longer associated with the agreement? Check here before booking an award fare. 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. If you do a Class Action or anything to get our money back please let me know. Cash proceeds from the $2 billion asset sale programare expected to be usedto pay down debt, including debt incurred to fundthe acquisition. No one gives you any answers. Accommodations included a fully-equipped kitchen, laundry facilities and full bathroom. Benefits the Business traveler? This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). So when January was coming close I decided to lower the $$ amount we would do. 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. I agree with your sentiments, very little to appeal to me. Nothing. So my total to walk away would be $18K. Tucked on the foothills of the Great Smoky Mountains, Bent Creek Golf Village provides a relaxing retreat in Gatlinburg, Tennessee. Now, you can earn and redeem World of Hyatt points at some of them. They are one of the best sources of luxury resort packages. They sold the Diamond acquisition as something we would have access to last year. It's proven its resiliency and durability, said Mark Hoplamazian, president and CEO of Hyatt, on an investor call this morning. HGV offered no information on what will happen to Diamond's executives. 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. 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. Located mere minutes from many of Orlandos theme parks, Mystic Dunes Resort & Golf Club is a perfect family-friendly destination. Now that HGV purchased Diamond we are being told by their sales staff that we now have to upgrade to Hilton HGV Max by paying an additional $20k in order to access to Hilton properties are else we will be only limited to Diamond's diminishing properties under their US collection.
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