# DRI Update



## RuralEngineer (Dec 24, 2012)

At Powhatan this weekend and decided to do the update.  I have two accounts, one club and the other just limited to the Trust.  Learned that I would not be able merge the two accounts as I had previously included resale points in the club account.  This was a first heard for me.  Also new rumor regarding acquisitions in 2013.


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## pedro47 (Dec 24, 2012)

RuralEngineer said:


> At Powhatan this weekend and decided to do the update.  I have two accounts, one club and the other just limited to the Trust.  Learned that I would not be able merge the two accounts as I had previously included resale points in the club account.  This was a first heard for me.  Also new rumor regarding acquisitions in 2013.



To the OP.  Is this the rumor? Diamond International is purchasing another resort in the Williamsburg area or is Diamond International trying to sell off Powhatan and their Greensprings Vacation Resort ?


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## dougp26364 (Dec 24, 2012)

I'd be less inclined to believe DRI was interested in selling both resorts in Williamsburg. Perhaps one due to excessive inventory but I don't see both as Williamsburg is likely a popular vacation destination. We've been to the area twice and intend on returning but, being from the midwest it's not the easiest or least expensive vacation desination when compared with some of the other choices.

As to aquisitions, you have to strike while the iron is hot. There are several companies that are having trouble. If there was ever a time to expand through aquisition vs building, now's the time. 

Westgate's owner made the off hand comment that if the election didn't go his way, he'd quit the business. We'll, the election didn't go his way. I'm wondering if he really meant what he said of if he was just shooting his mouth off. My hunch is he was shooting his mouth off for effect and there was never an intention to sell out but, I could be wrong. I just don't know if the Westgate brand would fit with DRI's plans. That's a lot of Orlando resorts, another couple of Branson resorts, another resort in Williamsburg and another offstrip resort in Vegas. None of which I see a need for with DRI's current portfolio. The only Westgate resort I could see interest in might be the Park City resort. The Gatlinburg resort could be nice but DRI has a pretty strong presence in that area right now. Perhaps not as nice as the Westgate property but they still have strong availability there.


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## fluke (Dec 24, 2012)

RuralEngineer said:


> At Powhatan this weekend and decided to do the update.  I have two accounts, one club and the other just limited to the Trust.  Learned that I would not be able merge the two accounts as I had previously included resale points in the club account.  This was a first heard for me.  *Also new rumor regarding acquisitions in 2013*.



So are you teasing us?  What are the rumors?


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## RuralEngineer (Dec 25, 2012)

Talk was having about $1B in available financing and looking to purchase a major timeshare company in 2013.

Tighting rules regarding resales and no longer offering small point packages.


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## T_R_Oglodyte (Dec 25, 2012)

RuralEngineer said:


> Talk was having about $1B in available financing and looking to purchase a major timeshare company in 2013.
> 
> Tighting rules regarding resales and no longer offering small point packages.



No longer offering small point packages is a big plus, since so many purchasers of those ownerships sooner or later realize the terrible economics.  The next thing they need to do is make it possible for existing owners to buy up those small packages and merge them into larger ownerships.  That would benefit everyone, including DRI.


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## dwojo (Dec 25, 2012)

Being able to buy existing small point packages and merge them to our existing points would be great and make sense do DRI will probably not consider it.


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## hvsteve1 (Dec 27, 2012)

If we're talking about the same thing, I had an update two years ago and was given a sheet, at the time, listing available points packages. I was told then that they were no longer going to offer packages of less points than it would take to reserve a week. I got the impression this was so people couldn't purchase points on Ebay and such and add enough additional points to allow them to book a larger unit or better week than the original points would get.


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## T_R_Oglodyte (Dec 28, 2012)

hvsteve1 said:


> If we're talking about the same thing, I had an update two years ago and was given a sheet, at the time, listing available points packages. I was told then that they were no longer going to offer packages of less points than it would take to reserve a week. I got the impression this was so people couldn't purchase points on Ebay and such and add enough additional points to allow them to book a larger unit or better week than the original points would get.



I think there are multiple reasons they have made the switch, and that is certainly a viable option.  Another is likely the extreme amounts of owner dissatisfaction resulting from the people who buy those tiny packages and realize that, despite what they were led to believe during the sales presentation, the only thing they can do with the points is make last minute reservations.  

The sales staff would take prospects through the presentation, staring with reserving weeks, Home Resort Advantage, and all of the other benefits that come with a reasonably sized package.  Then when they couldn't sell them on a full price package, they would sell them a small package, while neglecting to be clear that the small packages don't have those benefits.


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