Diamond Resorts International

Diamond Resorts International, Inc.
Public
Traded as NYSE: DRII
Industry Timeshare
Founded 2007
Headquarters Las Vegas, Nevada, U.S.
Area served
 Worldwide
Key people
 Stephen J. Cloobeck, (Founder and Chairman)
David F. Palmer, (CEO, President and Director)[1][2]
Products Vacation Ownership, Timeshare
Revenue Increase$230.7 million (EBITDA, 2013)[3]
Parent Diamond Resorts International, Inc.[1]
Website investors.diamondresorts.com

Diamond Resorts International (DRI) is a timeshare company[4][5][6] headquartered in Las Vegas, Nevada.[7] They own a network of 379 vacation destinations.[8]

Acquisitions

In August 2015 DRII bought out Gold Key Resorts[9] for $167.5 million. This acquisition added five vacation ownership resorts in Virginia Beach, Virginia and one in the Outer Banks, North Carolina.[10]

Undercover Boss

The Founder and Chairman, Stephen J. Cloobeck, was featured in the season premiere of Undercover Boss (U.S. TV series) Season 4 on January 15, 2012. He was the first Chairman and CEO to go undercover a second time on November 30, 2012.[11][12][13]

Awards, honors and ratings

Properties

United States

StateHotels
Arizona Arizona
California California
  • Lake Tahoe Vacation Resort
  • Marquis Villa Resort, Palm Canyon Resort and Spa
  • Riviera Oaks Resort, Riviera Shores Resort
Colorado Colorado
  • The Historic Crags Lodge
Florida Florida
Hawaii Hawaii
Indiana Indiana
  • Varsity Clubs of America – South Bend
Michigan Michigan
Missouri Missouri
Nevada Nevada
  • Desert Paradise Resort
  • Polo Towers Suites
  • Polo Towers Villas
  • Cancun Las Vegas Resort
New Mexico New Mexico
North Carolina North Carolina
Ohio Ohio
Pennsylvania Pennsylvania
Tennessee Tennessee
  • Bent Creek Golf Village
Texas Texas
Utah Utah
  • Cedar Breaks Lodge & Spa
Virginia Virginia
Washington (state) Washington
Wisconsin Wisconsin

International

LocationHotels
Canada Canada
Mexico Mexico
Netherlands Netherlands
Austria Austria
Brazil Brazil
France France
Greece Greece
Republic of Ireland Ireland
  • East Clare Golf Village
  • Dangan Lodge Cottages
  • Fisherman's Lodge
Italy Italy
Malta Malta
Portugal Portugal
Spain Spain
Balearic Islands Balearic Islands
  • White Sands Beach Club
  • White Sands Country Club
  • Garden Lago
Canary Islands Canary Islands
  • Cala Blanca
  • Jardines del Sol
  • Club del Carmen
Tenerife Tenerife Island
  • Royal Sunset Beach Club
  • Royal Tenerife Country Club
  • Santa Barbara Golf and Ocean Club
  • Sunset Bay Club
  • Sunset Harbour Club
  • Sunset View Club
United Kingdom United Kingdom
  • Woodford Bridge Country Club
  • Broome Park Golf and Country Club
  • Pine Lake Resort
  • Thurnham Hall[22]
  • Thurnham Hall Tarnbrook
  • Cromer Country Club
  • Wychnor Park Country Club
  • Worcester Marina
  • Alvechurch Marina
  • Anderton Marina
  • Gayton Marina
  • Blackwater Marina
  • Royal Sunset Beach Club
  • Royal Tenerife Country Club
  • Santa Barbara Golf and Ocean Club
  • Sunset Bay Club
  • Sunset Harbour Club
  • Sunset View Club

Criticism and controversy

Diamond Resorts International is notable for high-pressure sales tactics used to close sales and generate fees for consumers.[4][5] Club members are charged yearly maintenance fees (including management fees), which are set by Diamond Resorts International and which the FTC warns are likely to rise every year.[23][24] Diamond Resorts International's official 2014 SEC filing states that club members do not have the right to terminate membership, except in certain areas where consumers are protected by state law.[5][25][26] Jeff Weir, a Diamond timeshare owner and journalist covering the timeshare industry, told the New York Times: "In my experience, Diamond is much more ambitious, aggressive and downright nasty in their sales presentations compared to Marriott and Westin. Diamond just has an amazing reputation of being tough on people."[27]

Of the 29 customer reviews posted on the BBB.org website, 1 is positive, 1 is neutral and 27 are negative.[28]

Similar programs

See also

References

  1. 1 2 Diamond Resorts Holdings, LLC
  2. ↑ DRII Board of Directors
  3. ↑ Diamond Resorts International, Inc. (DRII)
  4. 1 2 Hoium, Travis. "Why Diamond Resorts International Inc.'s Stock Plunged 11% Today". The Motley Fool. Retrieved 28 February 2016.
  5. 1 2 3 MORGENSON, GRETCHEN. "The Timeshare Hard Sell Comes Roaring Back". The New York Times. Retrieved 28 February 2016.
  6. ↑ Stutz, Howard. "Timeshare developer Diamond Resorts acquires rival for $85 million". LAS VEGAS REVIEW-JOURNAL. Retrieved 29 March 2016.
  7. ↑ Diamond Resorts International, Inc.
  8. ↑ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K". NASDAQ. Retrieved 29 March 2016.
  9. ↑ Gold Key Resorts
  10. ↑ Diamond Resorts International Expands East Coast Vacation Destinations Through Gold Key Resorts Acquisition
  11. ↑ Undercover Boss Features Cloobeck of Diamond Resorts International and Brand USA
  12. ↑ Undercover Boss. Diamond Resorts International: Stephen J. Cloobeck
  13. ↑ Undercover Boss Season 3 Sneak Peak: Premiere Shares the Softer Side of Diamond Resorts International’s Stephen Cloobeck
  14. ↑ Diamond Resorts International® receives the British Safety Council 2011 Sword of Honour, the most prestigious international health and safety accolade attributed to a company, for Thurnham Hall and its achievement in delivering the highest standard of health and safety management to its owners, members, guests and team members.
  15. ↑ Daytona Beach Regency
  16. ↑ Grande Villas Resort
  17. ↑ Grand Beach
  18. ↑ The Point at Poipu
  19. ↑ Point at Poipu owners file complaint with AG TimeSharing Today issue № 109 Jan/Feb 2010
  20. ↑ Great Wolf Lodge is Newest Diamond Resorts International Property in Williamsburg
  21. ↑ Grand Palladium Imbassai Resort & Spa
  22. ↑ Winners of 2011 Sword and Globe of Honour announced
  23. ↑ O'Donnell, Jayne. "What smart buyers should know about time shares". USA Today. Retrieved 28 February 2016.
  24. ↑ "Timeshares and Vacation Plans". Federal Trade Commission. Retrieved 28 February 2016.
  25. ↑ "FORM 10-K". U.S. Securities and Exchange Commission. Retrieved 28 February 2016.
  26. ↑ Penman, Andrew; Greenwood, Michael. "Diamond Resorts sends in debt collectors as the fee strike spreads". The Daily Mirror. Retrieved 28 February 2016.
  27. ↑ MORGENSON, GRETCHEN. "The Timeshare Hard Sell Comes Roaring Back". The New York Times. Retrieved 5 April 2016.
  28. ↑ "BBB Business Review". Better Business Bureau. Retrieved 5 April 2016.

External links

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