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What will Diamond do to Bluegreen?

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  • #46
    When did the Sunterra buy-out occur?
    It began early in 2007 and was finalized last fall. DRI already was making changes and influencing actions before then.

    Q - Was Sunterra points based?
    Sunterra had various types of ownership.
    1. Some owned one or more deeded weeks in a Diamond Resorts
    timeshare resort. They have to make trades through RCI or II.
    2. Some who own deeded weeks have joined THE Club. This was the way THE Club (originally Club Sunterra) began, and is no longer available for becoming a member of THE Club. Each Jan 1 they get a previously agreed number of points for their week(s) which they can use to trade in THE Club or directly with II.
    3. Some have ownership in a Trust instead of deeded week(s).
    Most new members are in a Florida trust, but there are two others.
    4. Some have a combination of the above. For example, they have
    deeded week(s) in THE Club and also are in the Trust.

    For those in THE Club:
    1. Those in the Florida Trust can use their Trust points to make
    reservations 13 months in advance at one of the 20 resorts that
    are in the Trust. That number is growing.
    2. Those with deeded weeks can make reservations 12 months in
    advance at the timeshare resort where they own.
    3. Reservations at timeshares that don't qualify for 1 or 2 can
    be made 10 months in advance.

    Q - In either case, they changed your ownership over to an
    equivalent amount of DRI points?
    A - Only those in Club Sunterra were changed to THE Club, which
    for those in the US uses the same number of points as did Club
    Sunterra. There was a conversion for those in the UK, since I
    believe 650 points there was the same as 6,500 points here.

    Q - How long after the official buy-out occurred did they begin
    to use only the one system?
    A - For those with points, the change was seamless.

    Q - What other resorts/timeshare systems/corps has DRI bought
    out?
    A - DRI added about 15 resorts earlier this year, but nothing
    was said about them buying out a company like Bluegreen. Sunterra had previously purchased Epic.

    Q - Are you able to go to any of the 110 or so DRI properties?
    A - Yes, as long as there is availability. There is no exchange fee when trading within DRI. We have the usual II exchange fee when we trade on II with DRI points.

    Q - To become a DRI owner, did you have to purchase some DRI
    points?
    A - I did not. I know that people who want to purchase a newly
    purchased timeshare they bought on the re-sale market may have
    to purchase DRI points. I say may since the first answer I
    received indicated otherwise, but a later answer says such is
    necessary.

    Comment


    • #47
      Originally posted by dale7 View Post
      A BG person would get first choice for BG up until 10 months then the rest would be for the DRI Club and depending how many BG people join DRI Club.
      This is the second posting I have read about a "10 month" rule. Why 10 months?

      Comment


      • #48
        Originally posted by swirg53
        This is the second posting I have read about a "10 month" rule. Why 10 months?
        Originally posted by jimbee View Post
        For those in THE Club:
        1. Those in the Florida Trust can use their Trust points to make
        reservations 13 months in advance at one of the 20 resorts that
        are in the Trust. That number is growing.
        2. Those with deeded weeks can make reservations 12 months in
        advance at the timeshare resort where they own.
        3. Reservations at timeshares that don't qualify for 1 or 2 can
        be made 10 months in advance.
        I guess this part is like Wyndham, home resort get few month reservation lead, than inventory opens to all owners.

        This will be assuming they try to put two into one and provide BG owner conversion to the Club. 10 month will be for the conversion inventories.

        If I remember right, I believe Diamond provides conversion choice to its than existing owner before they purchase Sunterra (Polo Tower) to joint Sunterra Club (rename to Diamond)

        Jya-Ning
        Jya-Ning

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        • #49
          Jimbee, great answers.

          I had many of the same questions. Of course with the possible BG purchase, some things will be different, some things will be similar. With your answers, I have a better idea of what might happen.
          Don

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          • #50
            I wonder if there are any resorts in the BG system that would be candidates for skimming; resorts where there are no deeded owners (or ones whose deeded ownership could be eliminated in a conversion to The Club) and which have high real estate values if they were sold.

            The European Sunterra system had such a resort - Carlton Court in central London, one of most high demand and low supply areas in all of timesharing, but where real estate values are in the stratosphere. After DRI bought Sunterra, they closed Carlton Court to sell it off, claiming it was ''underutilized''. As a private company, there is no way to tell where the money from that sale will go or has gone.

            Any BG resorts that would be candidates for a similar operation?

            Comment


            • #51
              The big difference in the Sunterra acquisition was that the acquiring private owners really didn't own much except Polo Towers, so when they bought Sunterra and renamed it DRI all they really needed to do was 'tweak' the Club Sunterra system and call it "THE Club". The transition was pretty seamless to us existing Club Sunterra members, so no 'transfer fees' etc. were required. Now, however, every time we go to an 'update' presentation, all they want to sell is one of the 'trust' packages. No thanks - I'll keep my deeds.

              Yes, we do have access to all of the DRI inventory, including the more recently acquired properties. What wil they do if and when they purchase BG? Who knows?
              Frank & Debbie Newman
              Dublin, GA

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