Diamond Resort/Independent Exchange Company

[riverdees05 Platinum Contributor Find all posts View Profile Close riverdees05]

Has Diamond Resorts changed their deposit procedures with Independent Exchange companies?

I have heard that they will no longer verify deposits or apply guest name(s) to the reservations that have been deposited by members of independent exchange companies. And therefore, owners will be asked to assist with their deposit(s), and notify the resort the name of the guest(s) who will occupy their deposited reservation(s).

Has anyone else heard this?

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Is that just for their points club or are they trying to do that to weeks-based owners as well?

[riverdees05 Platinum Contributor Find all posts View Profile Close riverdees05]

My understanding It is for week based owners, not sure about points.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Do you know if this restriction is actually being done to "registered" exchange companies, or just those start ups who claim to be an exchange company but never bother to register with the various states.

Under a past employer, I worked on due diligence to determine the cost of creating an exchange company and it was ridiculously expensive to register in all states. I'd be amazed if many of these companies actually went through the process.

If this is impacting everyone, it will be interesting to see if any of the independents have the moxie and assets to challenge them in court.

Wouldn't it be nice to see ARDA-ROC step up to the plate and make a statement that unfair restriction of trade is detrimental to individual consumers. I'll start holding my breath now!

[riverdees05 Platinum Contributor Find all posts View Profile Close riverdees05]

This information is coming from one the older well established Exchange Companies (not RCI or II) that I have been a member with for years. I deposited one of my weeks with them earlier this year and got this information from them this week and was asked to call the resort and add the names of the exchangers to my reserved week since Diamond wouldn't honor the procedure that was used before - the exchange company's paperwork.

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

I had this issue with the units I deposited with Platinum. Diamond would not verify them (like they do for Interval). Once the exchanger had confirmed the unit I needed to contact Diamond and have the guest's name placed on the reserevation.

I wasn't a big deal, AFTER I knew they would not verify the deposit. What I did was print a copy of MY reservation with Diamond and supply that to Platinum for the deposit info.

Joy

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

So the resort developers are now forcing small exchange companies to go through the same process as rental brokers. Figures..

The risk here is if the owner who "deposited" the week and gave the exchange company the guest cert changes their mind and cancels the guest reservation. I hope these exchange companies understand the need to constantly call to verify the reservation info to protect their renter, or that they have deep enough pockets to pay rack rates when they get shafted.

Is it just me or does it seem like a few resort developers are always constantly trying to screw over the industry? It's like some of these sales weasels just go out of their way to try and disrupt things!

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

If they do this in a state with a proactive Real Estate Commissiion, complain to them and let them take DRI to the woodshed for you. While I have not heard reports one way or the other on his successor, I know that longtime NC Real Estate Commission timeshare honcho Blackwell Brogden on numerous occaisions went to war on behalf of timeshare owners who were being screwed by developers. He even took on RCI and won, forcing them to change some of the worst aspects of GPN (the early name of RCI Points) nationally.

Unfortunately, not all states have proactive Real Estate Commissions.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

The worst case I am aware of is the Anfi resorts on the Canary Islands. An owner who does anything with a week other than use it himself or deposit it with their official exchange company (which only purchasers from the developer are allowed to), they must pay a large extra fee (~$100) to Anfi. That includes independent exchange company deposits, owner rentals, even owner friends and family members. Outrageous and disgusting!

It is crap like this from Anfi and what DRI is now apparently doing that makes me only own at resorts that are member-controlled. And it is also a reason that I always support efforts by owners to kick the developer to the curb and take control of their own resort.

Some DRI resorts actually have weeks based owners in the majority. They need to organize and vote out DRI from both board slots and management. Scams like this one and the mismanagement at Point at Poipu resulting in a huge SA are good reasons for owners to take control themselves.

So the resort developers are now forcing small exchange companies to go through the same process as rental brokers. Figures..

The risk here is if the owner who "deposited" the week and gave the exchange company the guest cert changes their mind and cancels the guest reservation. I hope these exchange companies understand the need to constantly call to verify the reservation info to protect their renter, or that they have deep enough pockets to pay rack rates when they get shafted.

Is it just me or does it seem like a few resort developers are always constantly trying to screw over the industry? It's like some of these sales weasels just go out of their way to try and disrupt things!

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

When I had first heard about Shep and Ed Hastry working on developing a national timeshare owners group, I was hopeful that it would eventually be able to fund programs designed to educate and advocate for individual owners. I still think there is a big need for this in the industry. Someone able to provide individual owners with knowledge and support on how this process would actually be done- and able to fund lawsuits when developers overstep their bounds to try and stop owners from organizing.

I always thought that if such an organization had a resort management entity, that could serve as an incredible fund raising tool. As each resort was freed from developer control and hired the new management group- proceeds from that could be used to target and acquire others.

[Mark @SFX Industry Representative Find all posts View Profile Close Mark @SFX]

Diamond Resorts Members SFX Deposit Instructions

We would like to advise SFX Members who wish to deposit their Diamond Resort weeks with SFX of the new procedure:

1. As per normal, please call your resort and reserve a week you wish to deposit. At the same time, please tell the agent your Guest will be, "SFX Preferred Resorts".

2. Then go online and login to your SFX account and fill out the deposit form, and print it out. Then fax or email us a copy of your SFX deposit form along with a copy of your Diamond reservation.

By giving the resort the guest name of SFX, you will not be required to call in a guest name, we will take care of that. The only things that are different; you are giving SFX as the guest name at the same time you book your deposit week. And you are sending us a copy of your Diamond Resort reservation. Simple...

Thanks,
Mark @sfx
Member Communications

[Spence Super Moderator Find all posts View Profile Close Spence]

We would like to advise SFX Members who wish to deposit their Diamond Resort weeks with SFX of the new procedure:

1. As per normal, please call your resort and reserve a week you wish to deposit. At the same time, please tell the agent your Guest will be, "SFX Preferred Resorts".

2. Then go online and login to your SFX account and fill out the deposit form, and print it out. Then fax or email us a copy of your SFX deposit form along with a copy of your Diamond reservation.

By giving the resort the guest name of SFX, you will not be required to call in a guest name, we will take care of that. The only things that are different; you are giving SFX as the guest name at the same time you book your deposit week. And you are sending us a copy of your Diamond Resort reservation. Simple...

Thanks,
Mark @sfx
Member Communications

Mark,
When you say call the DRI resort - one might assume that you are speaking of owners with deeded time at a specific DRI resort.

Are you able to do this for THE Club owners who have to call DRI for their reservation?

THE Club Rules and Regulations are specific that [while II is THE Club's exchange company] "The Club Operating Company reserves the right to approve one or more External Exchange Companies to provide additional exchange services to Members. The use of any External Exchange Company without the approval of THE Club is Prohibited."

Is SFX Preferred Resorts an 'approved' External Exchange Company for THE Club?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Is it just me or does it seem like a few resort developers are always constantly trying to screw over the industry? It's like some of these sales weasels just go out of their way to try and disrupt things!

No way!!! A few????

People here talk about changes in timesharing, to make it more contemporary, but that is one thing that has remained constant over the years.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

If they do this in a state with a proactive Real Estate Commissiion, complain to them and let them take DRI to the woodshed for you. While I have not heard reports one way or the other on his successor, I know that longtime NC Real Estate Commission timeshare honcho Blackwell Brogden on numerous occaisions went to war on behalf of timeshare owners who were being screwed by developers. He even took on RCI and won, forcing them to change some of the worst aspects of GPN (the early name of RCI Points) nationally.

Unfortunately, not all states have proactive Real Estate Commissions.

Where's he been the last couple of years?

[Mark @SFX Industry Representative Find all posts View Profile Close Mark @SFX]

Mark,
When you say call the DRI resort - one might assume that you are speaking of owners with deeded time at a specific DRI resort.

Are you able to do this for THE Club owners who have to call DRI for their reservation?

THE Club Rules and Regulations are specific that [while II is THE Club's exchange company] "The Club Operating Company reserves the right to approve one or more External Exchange Companies to provide additional exchange services to Members. The use of any External Exchange Company without the approval of THE Club is Prohibited."

Is SFX Preferred Resorts an 'approved' External Exchange Company for THE Club?

Hi Spence - Thank you for your post. My previous post is directed to those with "deeded" weeks, and deed owners can use who they want for an external exchange. With regards to the Club, it is my understanding that DRI has an exclusive affiliation with I.I. "only" for their external exchanges.

It is my understanding that Club members may assign any guest they choose to their reserved unit??

Hope this helps...

Mark @sfx
Member Communications