Looks to me from reading the DRI forums at DRI that the "big" buyout was Pacific Monarch. Not a bad buyout but I think the salesmen might have stretched it a bit to make it sound as if this was as big as Sunterra. Of course, there could be another aquisition on the horizon we haven't heard yet. I'm still hopeful that the DRI buyout of Bluegreen could take place but, I'm not holding my breath either.
Pacific Monarch might be a good thing for Grand Pacific owners too as we have access to Diamond resorts through exchange and bonus weeks.
Cabo Azul looks real tempting
So, was Pacific Monarch the "big news"? I had a presentation a few weeks ago and was told DRI was looking into purchasing Marriott (resorts, not hotel).......very soon. Of course he also told us the company was going public "very soon."
I'm guessing it was.
As to DRI buying out Marriott, that's a laugher IMHO. However, there is a silent partnership.....or at least there was....between DRI and Marriott. Marriott's Grand Chateau in Vegas was originally a DRI planned resort but, S. Cloobeck decided to go another direction instead of timeshare and the branding rights were sold to Marriott under a silent partnership called Hard Carbon (if memory serves me correctly). Part of the agreement had Marriott handling the sales of Polo Towers until Polo Towers was essentially sold out. There was a rumor that Polo Towers would become a Marriott resort because of this arrangement (was never going to happen and never did).
So, there may be some truth to the rumor and DRI may be trying to exercise some option on the Grand Chateau that's burried in the paperwork but, I don't see DRI merging with Marriott and DRI being the primary managing company at this time.
On the other hand, Marriott sales has been hinting the Marriott may be in the market to aquire other timeshares and brand them as Marriott properties. It seems to be the latest trend to buy failing properties vs building new resorts. Perhaps there's a merger in the works but with Marriott taking management from DRI. S. Cloobeck has left the timeshare business for other developement opportunities in the pasts and, there was the rumor he had political aspirations to be the gov. of NV at one time. Maybe he's looking to sell his empire to MVC, which is a publicly traded company, and get out of the business once again.
Either way it would likely benefit us as we own both DRI and Marriott properties. It probably wouldn't be a bad thing to have all of these under one management company and one internal exchange system. MF's for Marriott and DRI are both similar in how expensive they are. DRI quality isn't the same as Marriott but, it's not that far off either. I could see Marriott divesting of some of the DRI properties should this merger take place as there are some that will never be up to MVC quality no matter how much work is done to them. There's also the issue of duplication of destinations that wouldn't make a lot of sense either way. Branson, Orlando, Vegas, Palm Desert, Williamsburg all come to mind immediately as areas that would have a litteral TON of inventory for either should the two systems be merged
We were at Greensprings Plantation about three weeks ago and there were a surying team on-site during a site inspection of this property.