[GONE] Costco selling Hyatt Check Certificates (Not Applicable to Pre-paid Rates)
Aug 1, 2010, 7:20 am
#1531
Join Date: Mar 2010
Posts: 45
still in delaware
as of 6pm last evening; severl dozen still at WIlmintgon De Costco
Aug 1, 2010, 8:12 am
#1532
Join Date: May 2007
Location: NC
Programs: Marriott LT Plat, Hyatt Platinum
Posts: 2,881
Costco has a "desired" profit margin they wish to make on items, which does vary from department to department.
I don't think it's a given that Costco "ties up capital in inventory" on Hyatt certs - margin on grocery items can be much less than margin on gift items, for example.
Maybe they only pay Hyatt when a customer buys them. Maybe they get 45-day terms, in which case they are probably making a profit on the float.
My Costcos seems to be carrying more and more 80% certs all the time, even as the mix changes. Spas, hotels, restaurants, AMC movies, etc. I bet for the Christmas season they will carry more.
Maybe they only pay Hyatt when a customer buys them. Maybe they get 45-day terms, in which case they are probably making a profit on the float.
My Costcos seems to be carrying more and more 80% certs all the time, even as the mix changes. Spas, hotels, restaurants, AMC movies, etc. I bet for the Christmas season they will carry more.
Terms vary - best scenario is, of course, that the item is sold before the bill comes due. Our terms are 2% 30, net 31 - and better than 70% of what we ship them is sold in the individual warehouses before the bill comes due.
It may be that we (FT'ers) have a skewed idea of "selling well"... our item has very limited customer appeal - and Costco buys over a million units a year.
Last edited by sophiegirl; Aug 1, 2010 at 1:22 pm
Aug 1, 2010, 11:43 am
#1533
Join Date: Oct 2004
Programs: HH Diamond; Marriott Tit, LTP;Omni Black;IHG Spire; Hyatt Glob
Posts: 124
The Arundel Mills(Maryland) Costco has been out of the certificates for a couple of weeks. They are on order but Hyatt is not providing. The desk manager said that the Columbia (MD) store had lots (but fewer now) and other stores had 'some'.
Aug 1, 2010, 12:29 pm
#1534
Join Date: Apr 2008
Location: SEA
Programs: SPG Plt, Hyatt Diamond, Marriott Gold, AA LT Gold
Posts: 424
interesting...there are a ton of Hyatt certs here at the San Antonio Costco.
Seriously, if people are interested, I wouldn't mind purchasing them for you, receiving payment via paypal or something for the purchasing value. Could use some more starpoints on my CC.
Seriously, if people are interested, I wouldn't mind purchasing them for you, receiving payment via paypal or something for the purchasing value. Could use some more starpoints on my CC.
Aug 1, 2010, 1:02 pm
#1535
FlyerTalk Evangelist
Join Date: Jun 2004
Location: MSP
Programs: DL PM, MM, NR; HH Diamond, Bonvoy LT Gold, Hyatt Explorist, IHG Diamond, others
Posts: 12,159
That 14% average gross margin includes food that spoils, electronics that gets obsolete or returned, etc. I'd suspect certificates are well under 5%. On the other hand, they don't spoil or get obsolete, and probably not many get returned (and they can be resold as new if they did anyway).
Aug 1, 2010, 2:34 pm
#1536
FlyerTalk Evangelist
Join Date: Sep 2003
Location: HH Diamond, Marriott Gold, IHG Gold, Hyatt something
Posts: 33,544
Aug 1, 2010, 5:55 pm
#1537
Join Date: Apr 2010
Programs: FB Platinum, AA Plat/2MM, SPG Plat/LT Gold
Posts: 379
NYC
100 or so certificates on hand at the 116th Street store (Manhattan) late this afternoon.
Aug 2, 2010, 7:33 pm
#1539
In memoriam
Join Date: Mar 2000
Location: Seattle WA
Programs: Kimpton IC, Hyatt Diamond, Gold Marriott, Lifetime Platinum Starwood
Posts: 8,665
None left in the Seattle stores (Kirkland, Everett, or SoDo). Had the supervisor check and he informed me that, in fact, this is now showing as an "inactive" item and they will not be reordering them.
Aug 3, 2010, 8:09 pm
#1540
Join Date: Sep 2009
Location: Houston
Programs: United 1K, Marriott Lifetime Platinum; Hyatt Diamond/GLOB
Posts: 738
Incorrect Credit Card Charges with Certificates
Just checked my credit card statement for a stay at Hyatt Place Atlanta Airport South last week. Total was $115, and I used $100 in certificates.
My credit card shows payment for a $15 charge and a $100 charge from the hotel. Now I get the fun of calling the hotel's billing folks directly to get them to figure this out.
I have used the certs at a dozen places with no problems, but this is going to take some phone time.
My credit card shows payment for a $15 charge and a $100 charge from the hotel. Now I get the fun of calling the hotel's billing folks directly to get them to figure this out.
I have used the certs at a dozen places with no problems, but this is going to take some phone time.
Aug 3, 2010, 8:17 pm
#1541
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA Plat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 16,859
Just checked my credit card statement for a stay at Hyatt Place Atlanta Airport South last week. Total was $115, and I used $100 in certificates.
My credit card shows payment for a $15 charge and a $100 charge from the hotel. Now I get the fun of calling the hotel's billing folks directly to get them to figure this out.
I have used the certs at a dozen places with no problems, but this is going to take some phone time.
My credit card shows payment for a $15 charge and a $100 charge from the hotel. Now I get the fun of calling the hotel's billing folks directly to get them to figure this out.
I have used the certs at a dozen places with no problems, but this is going to take some phone time.
Aug 4, 2010, 9:40 am
#1542
Join Date: Feb 2007
Posts: 1,130
Waterbury CT
is sold out. Saw them wheel the display off the selling floor.
Went to front desk and spoke w/mgr. (know them all quite well over 15 yrs) and was told it probably will be discontinued. Luckily she said there was one set left. Grabbed it. DH also purchased 3 sets on Sunday.
Mgr. did check and told me where there were still some left in the area.
Think we'll be making a trip to pick up some more since we've got our upcoming summer break and looking around at colleges in the fall. 20% comes in handy.
Went to front desk and spoke w/mgr. (know them all quite well over 15 yrs) and was told it probably will be discontinued. Luckily she said there was one set left. Grabbed it. DH also purchased 3 sets on Sunday.
Mgr. did check and told me where there were still some left in the area.
Think we'll be making a trip to pick up some more since we've got our upcoming summer break and looking around at colleges in the fall. 20% comes in handy.
Aug 4, 2010, 3:28 pm
#1543
Join Date: Dec 2009
Location: Chicago, IL
Programs: AA EXP, HYATT DIA
Posts: 276
South Florida is sold out. 
One showed 13 but when I got there they said they were out and not sure why the computer said 13 (Park Av,Miami).
Hoping to get some when I am in Chicago next week
One showed 13 but when I got there they said they were out and not sure why the computer said 13 (Park Av,Miami).
Hoping to get some when I am in Chicago next week
Aug 4, 2010, 5:45 pm
#1544
Join Date: May 2010
Posts: 107
See my post #1507 - no Costco certs in Chicago or all of the Midwest (except for somewhere in Kansas).
Aug 4, 2010, 6:30 pm
#1545
Join Date: Jan 2005
Programs: WOH (G)lobotimized, SPG Tarnished Gold
Posts: 498
Jacksonville, FL sold out, too. Great while it lasted.