In financial news this week Diamond Resorts International issued $30,990,000 of its timeshare loan backed notes. So what does that mean?
Several things. It indicates that Diamond Resorts has sold roughly $30 million in timeshare and are holding the loans on them. More importantly when Credit Suisse and Mountcliff Funding, LLC assisted in putting the deal together it showed that the financial industry is showing confidence in the quality of the loans Diamond Resorts is selling. Not too long ago this type of security, a timeshare backed loan, was considered a poor investment and no one would touch it.
Things have turned around in the timeshare market. Sales are surging, and the major timeshare developers are taking big steps to invest, build, add on, or complete projects that had been left idle for several years.
Plus lets not forget the timeshare buyers. People who buy timeshares are showing confidence in the economy when making this kind of purchase. They are also reflecting stability in their own personal financial situation. All these are signs of better economic days ahead. Especially for the fractional, timeshare, or condo interval industry.
Diamond Resorts International is one of the largest timeshare developers in the world. Their collection of timeshare resorts include more than 300 vacation destinations located in 33 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australia and Africa. From their website “Diamond Resorts Corporation and its subsidiaries own, operate and manage vacation ownership resorts and, through resort and partner affiliation agreements, provide members and owners with access to 89 managed resorts, 163 affiliated resorts, 48 affiliated hotels and four cruise itineraries through THE Club® at Diamond Resorts International®.”
Points ownership with THE Club at Diamond enable the timeshare owners to choose resort stays, airline tickets, rental cars and even cruises. And resort stays are not limited to the usual 6 nights. You can use your points to set up a 2 day stay or book a whole week. This gives THE Club members a huge amount of flexibility when it comes to planing their vacation.
Here’s a few Diamond Resort timeshares for sale just to give you an idea of what is available:
Diamond Resorts Lake Tahoe – 10,500 points, annual use, annual maintenance fee approx $1,100.
Kaanapali Beach Vacation Resort – Diamond Resort Hawaii Collection, 23,500 points, annual use, can get a 2 bedroom for 2 weeks with these points.
Ridge on Sedona – 10,000 points, annual use.