Diamond Club Points and Elite Membership Versus Unit Ownership

My wife and I own two units, totaling potentially 12,000 points if we convert to the points program with Diamond. They offered us the opportunity to buy the additional 3,000 points for $10,170 to get enough for the Elite Benefits with Diamond Points. We are trying to determine if this would be worth it. The sales person, from what I remember, stated:

1. That we would be able to book their 1,400 plus resorts world wide using the points directly online using the points.

2. That with the Elite membership, we could reserve an Ocean View, and pay $99 more to upgrade to a Ocean Front, at any of these resorts.

3. That we could reserve as many days as we wanted, versus only weeks.

4. That with the Elite Membership, we would be able to reserve 13 months out, versus 12 months out, insuring the top units at all resorts at the peak times, if we reserved 13 months out.

5. That with the Elite Membership, we would be able to go Online directly with Interval International and "book" at any of their resorts, versus exchanging, as you need to do without the Elite Membership.

Can anyone confirm these potential benefits? Also,

1. How easy is it to sell your points if you ever wanted to sell these. Do you still own the units? Can you sell all 15,000 points, and do they get a premium? Could I buy the additional points on Redweek and convert my units this way?

2. What if Diamond Resorts is sold or goes bankrupt? What are the benefits and detriments of having units versus points? How solvent is Diamond Resorts?

3. Are there any other issues that we should consider of converting to points, and getting to the Elite level?

Thanks for your help,

Mahalo

First of all don't beleive anything those salesman tell you. GET IT IN WRITING> READ THE FINE PRINT< Before you sign anything,(Best to submit to your attorney before signing.) Second the next best thing you could do, is sell off your diamond resort units or rent out your weeks. We have a deeded floating week and did buy into the points system, it was the biggest mistake we ever made. We found it cheaper in the long run bank our deeded week and go for two weeks every other year. It is better to find a reputable "rental home Company, or a Vacation company, ("such as red week one"). Our personal opinion is that since Diamond took over Kaanapali, their only goal is to extract as much money as possible from the owners, diamond club membership,$ 600+ dollars, Maintenance fees.$1000+ dollars. It's just not worth it anymore..

1. Yes 2. Yes, we've done it twice and saved on points. It's cheaper to book a lesser quality room and pay the $99.00 upgrade. Save your points ! 3. Yes 4. Yes. We've NEVER had a problem with reservations if booking 12-13 months out. 5. Yes. There were some computer problems one year but an agent gladly booked our reservation for us. We've never tried to sell points (we have approx 12,000 one year and 15,000 every other year) We initially bought 1 week Deluxe Ocean View (1998) and then bought an every other year week with Ocean View in order to convert to points. We either use the condo every year and/or bump some of the points to the upcoming year. This year we are able to book 3 Ocean Delux units for one week (taking the entire family) plus 4 additional days for our stay. Fees have gone up dramtically but we love the area. Hope this helps. Mahalo :)

I know this thread of e-mails is old, but is anyone still watching it.

I have a friend who bought 5,000 points/yr several years ago. She has since realized that there's not much she can do with those 5000 points.

Does anyone have any suggestions? Are they worth anything to someone who might want to increase their points ? Any idea of what these points are worth ?

I read through many of these and find an interesting trend for hatred of DRI and their foul business practices. I call it legal extortion and the beauty is people pay them to good money to hold their deed in an irrevocable trust. PEOPLE your DEED is the only value in a time share (besides of course using it for vacation). DRI has $crewed over its members there too. I can get KBC my home resort on expedia or orbits for less than I pay in maintenance fees for my week. explain the benifit of owning a TS if I can get the same resort from any online discount dealer.

Here is how I see it (in a nut shell);

10-15k upfront on a mortgage @9%+ APR 1,000+ /yr over 25 years (avg vacation lifetime) works out to

36k-40k

Now simply divide what ever your number is in your situation by your number of vacation years

40k/25 years=@$1600.00 for each week owned or 1600/7=$228.57/night

now check it on line for yourself where can you get decent lodging for 228.57 a night and not pay 25 years in advance.

Did that take 90 minutes?

Simple.

Concerned Vacation Owner

ATTN: All Poipu Deeded & Points owners

COPP is presenting some thoughts about the situation we all find ourselves in...

There is strong evidence of water damage at our resort. That is an unfortunate fact. DIAMOND RESORTS INTERNATIONAL has stated definitively and repeatedly that anyone currently affiliated with our resort is responsible for their share of the "Water Intrusion Assessment," or approximately $5,800 per interval owned.

DIAMOND RESORTS INTERNATIONAL has stated that failure to pay your assessment will result in foreclosure on your interval. HOWEVER, they have also indicated that they will pursue, through means including collections, your portion of the water intrusion assessment even after foreclosure. In other words, as it stands right now, only by paying your assessment can you avoid collections action.

Fast Answers: There have been internet postings where an owner at Poipu has been told by a company that if they paid them, they would take their interval and file a class action lawsuit to relieve them of their responsibility for the assessment. Our advice is to remain sceptical. They will have your deed and you are still responsible for the assessment. Remember, IF IT IS NOT IN WRITING, YOU HAVE NOTHING! Even then, it might only be worth the paper it is written on. Another owner posted that he was told by DIAMOND RESORTS INTERNATIONAL that if they were to walk away he would not be held responsible for his maintenance fees. Remember, your "MAINTENANCE FEE" is different from your "WATER INTRUSION ASSESSMENT." If you walk away now, you will lose your deed and yet you are still responsible for the water intrusion assessment. Pay attention to the details! We have seen emails forwarded to COPP by other owners, that if you pay $8,960.00 you can purchase points and GIVE THEM YOUR DEED! The down payment is $2,900.00 (more than your first installment on the assessment!) and a monthly payment of $227). Now you no longer OWN A DEEDED PROPERTY. BUT, you are now liable for almost half again as much as the assessment AND, they have your deed!

Suggestions: Monitor the internet for information regularly. Check out RedWeek.com and you will see that there are points owners being assessed just like the deeded owners. Make certain that you understand that there is no guarantee that you will not be hit with an assessment in the future AND you will also see lots of points owners being rocked by enormous increases in their annual fees. www.poipuowners.org is your website – make sure your register! This will put you on our mailing list and give you the most recent information on what is happening. Follow discussions regularly at the following: https://www.facebook.com/pointatpoipu https://blog.poipuowners.org

check these items on Google Diamond Resorts International Problems Diamond Resorts International Lawsuit Diamond Resorts Problems Diamond Resorts Lawsuit Poipu Owners Group Poipu Owners Lawsuit

Here is the announcement for which we have all been waiting! The lawsuit has been filed! It was filed Friday in Federal District Court in Hawaii. COPP will be mailing out a note with the lawsuit attached. It will also be going up on our website. I think that we will have DRI's attention now! What did Mr. C say? Yes, that's right, there are "10" unhappy customers. We'll see...

The point system has completely devalued timeshare OWNERSHIP.

I hope you get those crooks at DRI.

PLEASE go to the ABC News website at this URL:

http://abcnews.go.com/Site/page?id=3271346&cat=20/20

and request that 20/20 investigate DRI. Be sure to make reference to the whitewash/propaganda piece CBS did with Undercover Boss on Cloobeck.

Maybe if enough people write to them they may buy into the idea, if for no other reason than to embarrass CBS News.

And was this ever a sell out.... This group which had good intentions when it began, got hijacked and the lawsuit was settled out of court for nothing, not one member got one small thing or concession from DRI... They had DRI in the process to open its books in the Discovery Process of this Class Action Law Suit, why settle before you get them in a room with some savy numbers people and review their books... The only reason for "why not" is that it was a sell out of the members who believed in what they were doing...