Mikel:
I upgraded my passes the last day of my trip. The cost was exactly the difference between what I was charged for my LOS pass and the cost of the annual pass. This is a way to go if you want to try it out before you go for the annual pass. However, I happen to know that there are significant discounts offered to Annual Pass Holders on rooms at HRH adn PBH plus restaurants, etc.
Thought I would pass along the info.
jb