# Presentation highlights and the new "Elite portfolio" - truth or lies?



## mjc775 (Nov 12, 2020)

We recently had a presentation where the goal seemed to be for us to move from the US Collection to the new "Elite portfolio". I'm going to put each sentence in its own paragraph to make it easy to quote and comment on each claim.

The Elite portfolio would currently give us 20 more resorts (50 vs 70), plus 50 more next year when they merge with "The Big H".
It would also lower our 20 year MFs from $170K to about $40K. 
There would also be an exit strategy due to no deed restrictions. 
And if we don't use all our annual points, we could use the "currency program" to exchange for cash, shopping, travel.
There's a Hawaii Elite program and a US Elite program.
We should have received an "Elite equity release" via certified mail that included a trip to Hawaii if we accepted the offer.
"Wyndham filed for bankruptcy".
"Your MFs go up 7-11% yearly" (Actually it's been about 4%).
Comments about the truth and lies of each bullet point above are appreciated.


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## DRIless (Nov 12, 2020)

I went to a DRI presentation yesterday.  I'm already Platinum.  I don't own any collections.  I own deeds that I have pledged to the club.  I pay MFs based on the deeds resulting in MFs of about 9¢/pt because I have converted Holiday weeks.  It's sort of hard to pitch anything to me.

*The Elite portfolio would currently give us 20 more resorts (50 vs 70), plus 50 more next year when they merge with "The Big H".*
No mention was made of an elite portfolio.  No idea about "The Big H" merge.

*It would also lower our 20 year MFs from $170K to about $40K.*
Not a believable statement.

*There would also be an exit strategy due to no deed restrictions.*
Deeds make the process of ownership change or foreclosure a little more tedious than Trusts.
My rep said "DRI will never buy back your ownership but is taking them back."

*And if we don't use all our annual points, we could use the "currency program" to exchange for cash, shopping, travel.*
My rep was big on this one, saying that DEX-Destination Exchange was a program that could pay you cash.  As a platinum owner, he showed me an 'account' on his laptop where, for a Tier3 6000pt deposit the member would be getting ~$8000, and another Tier3 6000pt deposit where the figure was ~$4700.  All quite unbelievable.  Money could be spent through DRI for travel or shopping, or he produced a xerox in a plastic sleeve of a sample check that you would get.  

*There's a Hawaii Elite program and a US Elite program.*
Never mentioned.

*We should have received an "Elite equity release" via certified mail that included a trip to Hawaii if we accepted the offer.*
Never mentioned.

*"Wyndham filed for bankruptcy".*
Never mentioned.

*"Your MFs go up 7-11% yearly" (Actually it's been about 4%).*
My rep actually quoted 4% and used it to try to sell a program where DRI froze my MFs for the next ten years.  He showed me where my MFs for next ten years would be ~$70k with no increase or $104k assuming a 4%/yr increase.  I could take a note (loan) from DRI for the $70k and my MFs would be paid up for 10 years.  I'd only have to make payments on the note at ~20% interest.  I'd get all these 'free' points from DRI that I could work through the DEX cash machine discussed above and really come out ahead.  I never understood where all these 'free' points were coming from and finally got tired.

My rep was actually the sharpest one I'd seen in a long time.  He was quite good, pleasant, and answered all direct questions, not always with a clear answer.  The Vice President of sales came over twice during the update to make sure I was being treated well.


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## Iggyearl (Nov 12, 2020)

MJC - I am not a Diamond member, but your post reminds me of my "long ago" lawyer partner.  His motto was, "Make all your promises verbally.  And get all your promises in writing."  You might be well advised to re-contact your salesman and ask for written documents that confirm his wonderful scenarios.  I would bet that Elite portfolio, Big H, and Currency program won't show up in written documents.  (too new or available only for special people like you).  You can verify the Wyndham statement by googling "Wyndham Bankruptcy."  Diamond salespeople have pitched special secret programs for years.  The contract is what matters.


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## mjc775 (Nov 12, 2020)

Thanks for the responses so far. Here’s some more info. that may be how the presentation was tailored for me. I’m a 5 year owner with 2 contracts - US Collection and Club Combinations - which combine to get me to Silver level. 

Once I mentioned running everything by my attorney relative before agreeing to anything, they quickly got us checked out. 

One lie that I later confirmed was that we supposedly had to trade our Club Combinations resort within 5 years or we would presumably lose the privilege and VIP status. There is nothing in our contract that mentions 5 years. 


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## pedro47 (Nov 13, 2020)

Looks liked Diamond have changed since Colebeck left the organization.


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## csalter2 (Nov 13, 2020)

pedro47 said:


> Looks liked Diamond have changed since Colebeck left the organization.



Stephen Cloobeck.  They were lying then too.


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## mjc775 (Nov 14, 2020)

To top off our presentation experience, the rep wasn’t even wearing his mask properly - more like a chin diaper exposing his nose and often his mouth. 


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