This time they bought out Intrawest Resort Club Group for a paltry $85 million!
Intrawest Resort Club Group maintains timeshare resorts in Mexico, California, Canada, and Florida. Including: Intrawest Resort Club, Club Intrawest at Blackcomb, Intrawest Resort Club Blackcomb, Club Intrawest at Palm Desert, Club Intrawest Tremblant.
Once the acquisition is complete next spring, Diamond Resorts will be home for over 100 timeshare resorts worldwide. That also includes the five timeshares bought last October from Gold Key Resorts.
Why do the really large timeshare developers buy out smaller groups of timeshares? Once they do, a large amount of cost savings (albeit jobs lost) happen for the acquired timeshare group. Offices are consolidated, management is streamlined, staff and costs are cut and the stock holders are happy. More profits!
But what about the timeshare OWNERS? Oh yes, the folks who keep on paying their annual fees regardless of whether or not they get to use their timeshare. The owners who paid for all the marketing and financed the construction in the first place. That’s what it boils down to: Mergers are made to make the timeshare resort more profitable, and sometimes a little better.
The owners’ situation is improved when they get more options for their vacation ownership. It is NOT an improvement when the developer comes in and demands that they switch to a different kind of ownership and charges them a large amount of money – as in thousands of dollars.
I’ve heard this complaint more than once in the last few days. And more than dozens of times this year. Heavy handed sales people make the original owners feel threatened if they do not “upgrade”, cave in to the “upsell”, “do the right thing” etc, etc. According to one testimonial I heard from an owner they were told, ” If you don’t take this deal now, I’ll make sure you never get an offer like this again from this or any other timeshare management company.” I can’t make this stuff up – it is so bizarre.
If the whole process is bugging you, making you go crazy, sell the dad-gum timeshare!
Call a timeshare resale broker, do what it takes to get it done, and be done with the whole circus.
Unless, of course, you want to buy some more points to add to your collection.
My 2 cents.