new take over

[kolabok]

diamond resorts has taken over the VA beach area. Received a letter earlier this year that ocean beach club, ( assume the owner(s) bailed out ) was acquired by diamond resorts. Got an invite letter for owners and a free meal to hear them try to get us to change over and go on a point system, all for a small investment, what a joke. Anyway diamond resorts seems to be choking us out of options in how and where to use our resort week, bad dudes

[cmb]

They are the worst �� I am hoping they never take over any of our resorts.

[Carolinian]

Was the developer still selling at Ocean Beach Club? Diamond may have done one of two things. They may have bought remaining developer inventory or they may have taken over management. Stay away from their points scam; it is a loser.

As an owner, you should find out who controls the HOA. If it is developer controlled, may a group can get together, organize and take it over for the members. All four of the First Flight resorts on the OBX had owner groups form and oust the developer first from control of the HOA and then from resort management. If it is already member controlled, then there needs to be some strong people elected to it who will not bo down to Diamond.

Was is really insidious about these points operations is when they ''convert'' ownership to a points contract, they end up with the voting rights for that unit/week. It is a control mechanism to put their people in management by getting voting control of the HOA. Some member-controlled HOA's in the UK, such as Stouts Hill, put in a poison pill to stop points clubs from gaining control by amending their docs to say that each member got one vote at the HOA meeting, no matter how many weeks they owned. Thus the points club only had one vote in spite of owning many weeks. This is something that might be considered to fight pirates like Diamond.

[JLB]

I'm sure I won't say this to please everyone, but everyone knows what I mean when I say that there never seems to be an end to the problems of timeshares. It seems like it's always something, even when there are no problems.

[Spence]

diamond resorts has taken over the VA beach area. Received a letter earlier this year that ocean beach club, ( assume the owner(s) bailed out ) was acquired by diamond resorts. Got an invite letter for owners and a free meal to hear them try to get us to change over and go on a point system, all for a small investment, what a joke. Anyway diamond resorts seems to be choking us out of options in how and where to use our resort week, bad dudes

http://pilotonline.com/business/diam...e27c2d50a.html

http://www.businesswire.com/news/hom...Coast-Vacation

Not quite a 'new' takeover/buyout, August 2015.

[kolabok]

thanks for the news link ! one thing we did get was an invite to a social to have diamond resorts give us a run down on their business, which was going to be a point based system, of course we had to buy in even thou our units were paid in full. the other thing was they were choking us out of options. the only thing we had going was a five year membership with interval international, but again you have to pony up to keep your options open, otherwise you will eventually only have your home resort to use

[Carolinian]

thanks for the news link ! one thing we did get was an invite to a social to have diamond resorts give us a run down on their business, which was going to be a point based system, of course we had to buy in even thou our units were paid in full. the other thing was they were choking us out of options. the only thing we had going was a five year membership with interval international, but again you have to pony up to keep your options open, otherwise you will eventually only have your home resort to use

You can always exchange your home resort with an independent exchange company like Dial an Exchange, Hawaii Timeshare Exchange, Trading Places, etc.

[Spence]

Stay away from their points scam; it is a loser.

What is the points scam that you say is a loser?