Sunterra Acknowleges It Is in Discussions With Diamond Resorts

[timeos2 Senior Member Find all posts View Profile Close timeos2]

I think they also created the Internet

See the faq posted along with the press releases and the letter to Sunterra owners. I really love the "leading position" DRI holds in the industry. Last week no one could remember who they were! This should help stabilize the Sunterra system but it may not be all good for the owners. Time will tell I guess.

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

Announced Sunterra Aqusition

Sunterra Announces Acquisition by Diamond Resorts

Check out the above News Release.

[Ryne08 Senior Member Find all posts View Profile Close Ryne08]

GOD FORBID!

I was under the impression that VRI was doing an outstanding job at Cyprees Pointe in Orlando,FL.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

VRI has done well for Cypress Pointe and others

I was under the impression that VRI was doing an outstanding job at Cyprees Pointe in Orlando,FL.

They are - in fact I think you'll find they do a good job at all their resorts. I think the comment was meant as a slap toward the current management who may fall short rather than one at VRI.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

I certainly wouldn't mind having VRI take over Sunterra operations. Of course that's just a pipe dream because It would never happen - those resort management contracts are too profitable for Sunterra (or it's successor) to ever give up.

[oldlad Junior Member Find all posts View Profile Close oldlad]

After reading the comments on this thread, I, as a Sunterra Europe points holder have no more confidence in Diamond that I did in the previous owners.

Perhaps the only good thing to come out of all this is that Benson looks like getting his just deserts.

I would like to tell you though, that the days of Sunterra members in Europe rolling over and being dumped on are hopefully a thing of the past.

Have a look on the Sunterra forums on timesharetalk.co.uk and see what kind of reception Diamond will get if they try pulling the same scams that Benson and Co pulled on us.

There is more chance of this guy becoming the next Queen of England than there is of us allowing them to treat us like again.

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

Important Message from Sunterra Corporation Board of Directors

Dear Club Sunterra Members and Owners,
On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year. I personally want to tell you how excited we are about this development and take a moment to explain how this will allow us to better serve you.
Most importantly, nothing changes for our Club Members and Owners. The same friendly people you know and trust will continue to provide you with the same high level of customer service at our resorts and over the telephone. Your SunOptions, Club Sunterra membership, use rights and payment procedures remain the same. Existing reservations will not be affected and the procedures for making future reservations remain the same. You can expect a future filled with a range of product upgrades and improvements in customer service, which will make your ownership more valuable.
What you can anticipate under the direction of Stephen J. Cloobeck, Chairman and CEO of Diamond Resorts, is a continued focus and commitment to customer service and exceeding customer expectations. Adding to Sunterra's already strong platform, Stephen brings over 25 years of extensive knowledge and experience in virtually every phase of the successful development, management, marketing and sales of vacation ownership properties. Diamond Resorts' successful track record includes spearheading the design of Marriott's Grand Chateau vacation ownership resort as well as the development of Polo Towers, the Jockey Club and The Carriage House, all located in Las Vegas, as well as Kona Reef in Hawaii.
We want to assure you that our announcement will secure and enhance all of the benefits that you have come to expect as Sunterra Members and Owners. We invite you to visit www.Sunterra.com and Diamond Resorts - experience in development, building, management, marketing and sales of vacation ownership and vacation ownership hotel properties for further updates and additional information.
Best Regards,
James A. Weissenborn
Interim President and CEO
Sunterra Corporation

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Maybe DRI, would give management control to someone like VRI.

GOD FORBID!

Bill what is wrong with VRI. I had them for years and believe it or not, I miss them. As an owner I was able to get great deals on there sister resorts if I needed a few nights.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Dear Club Sunterra Members and Owners,
On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year. I personally want to tell you how excited we are about this development and take a moment to explain how this will allow us to better serve you.
Most importantly, nothing changes for our Club Members and Owners. The same friendly people you know and trust will continue to provide you with the same high level of customer service at our resorts and over the telephone. Your SunOptions, Club Sunterra membership, use rights and payment procedures remain the same. Existing reservations will not be affected and the procedures for making future reservations remain the same. You can expect a future filled with a range of product upgrades and improvements in customer service, which will make your ownership more valuable.
What you can anticipate under the direction of Stephen J. Cloobeck, Chairman and CEO of Diamond Resorts, is a continued focus and commitment to customer service and exceeding customer expectations. Adding to Sunterra's already strong platform, Stephen brings over 25 years of extensive knowledge and experience in virtually every phase of the successful development, management, marketing and sales of vacation ownership properties. Diamond Resorts' successful track record includes spearheading the design of Marriott's Grand Chateau vacation ownership resort as well as the development of Polo Towers, the Jockey Club and The Carriage House, all located in Las Vegas, as well as Kona Reef in Hawaii.
We want to assure you that our announcement will secure and enhance all of the benefits that you have come to expect as Sunterra Members and Owners. We invite you to visit www.Sunterra.com and Diamond Resorts - experience in development, building, management, marketing and sales of vacation ownership and vacation ownership hotel properties for further updates and additional information.
Best Regards,
James A. Weissenborn
Interim President and CEO
Sunterra Corporation

You'd think that there would be something on the Polo Towers web site about this but not a word has been placed there. At least not that I can find. Polo Towers

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

Dear Sunterra Reservations Holder

March 12, 2007

Dear Sunterra Reservations Holder,
On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant to which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year.
There is no need to call. Members and guests do not need to take any steps as a result of this announcement to confirm their existing reservations. There will be no changes to procedures for making future reservations. The same friendly people you know and trust will continue to provide you the same high level of customer service at our resorts and over the telephone.
We look forward to seeing you soon. If you would like additional information, please visit www.Sunterra.com and Diamond Resorts - experience in development, building, management, marketing and sales of vacation ownership and vacation ownership hotel properties.
Best Regards,
Sunterra Corporation

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

March 12, 2007

Dear Sunterra Reservations Holder,
On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant to which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year.
There is no need to call. Members and guests do not need to take any steps as a result of this announcement to confirm their existing reservations. There will be no changes to procedures for making future reservations. The same friendly people you know and trust will continue to provide you the same high level of customer service at our resorts and over the telephone.
We look forward to seeing you soon. If you would like additional information, please visit www.Sunterra.com and Diamond Resorts - experience in development, building, management, marketing and sales of vacation ownership and vacation ownership hotel properties.
Best Regards,
Sunterra Corporation

Like I've said, DRI does NOT make any attempt to keep it's owners in the loop. They may have a legitimate offer going on but they've done nothing on their Polo Towers web site indicating this. I've e-mailed DRI customer service to see what they have to say, which I expectwill be that they don't have a clue. I'm actually looking at Polo Towers but, yesterday when I was over there, none of them knew what I was talking about.

Sunterra owners seemt to know what is going on but DRI owners are in the dark. I looks to me like Sunterra owners are going to go from bad to worse as far as management is concerned. At least as it stands now that's my own personal opinion.

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

Like I've said, DRI does NOT make any attempt to keep it's owners in the loop. They may have a legitimate offer going on but they've done nothing on their Polo Towers web site indicating this. I've e-mailed DRI customer service to see what they have to say, which I expectwill be that they don't have a clue. I'm actually looking at Polo Towers but, yesterday when I was over there, none of them knew what I was talking about.

Sunterra owners seemt to know what is going on but DRI owners are in the dark. I looks to me like Sunterra owners are going to go from bad to worse as far as management is concerned. At least as it stands now that's my own personal opinion.

While I have no idea what DRI customer service is like, I can understand that there is no info at this point. DRI is probably buying Sunterra... what does that mean for Polo owners, could mean nothing if they want to keep the status quo. Could mean they will be offered entry into Club Sunterra (or a new name?) at some point in the future. There's a lot of work to be done and there's no hurry from the viewpoint of DRI/Polo, while Sunterra owners (and there are a LOT more of them than DRI) need some info to know what is happening to them.

[Fern Senior Member Find all posts View Profile Close Fern]

The Las Vegas Review-Journal had an interesting story on Steven Cloobeck and the Sunterra purchase today. You can read about it here. Mr. Cloobeck is quite involved in things Las Vegas (besides timeshare). Among other things he has successfully challenged the non-resident tuition at UNLV for residents who have not been here a full year at time of entrance.

Fern

[Ryne08 Senior Member Find all posts View Profile Close Ryne08]

That is a very nice article on the new owner of Sunterra.
Fern what are your gut feeling on this purchase?

[oldlad Junior Member Find all posts View Profile Close oldlad]

Only time will tell, but let's hope that the part where Cloobeck said "Sunterra's staffing won't change," doesn't mean that we will continue to be screwed for maintenance fee rises way over the rate of inflation.