[ 2021 ] Diamond wants me to consolidate all my collections into one?

[Joejangles2cnts]

Wail here in Hawaii we attended an “update meeting” were they told us consolidating our us collection and our Cabo collection into the Hawaii collection would save us money on maintenance fees. Since Cabo is a trust and Hawaii is a deed we would have more flexibility later on if we wanted to divest our selves of the investment making it easier as it would be more desirable since it’s a Hawaii only collection. It also stated in the paper work if my wife and I pass my son wouldn’t be obligated to take responsibility for it if he didn’t want it. We have to buy 500 points and convert the 22500 points from other collections into Hawaii for roughly 18,900$. In theory this sounds like a good deal I get rid of my us collection and Cabo collection that really have zero value and I get Hawaii only that may also have zero value? They also said it may be harder for my wife and I to use Hawaii as a destination since more people will be booking here and we won’t have the priority window to get what we want since we only have 7500 points priority in Hawaii now. My biggest thing is why are they pushing me to consolidate my points does it have something to do with what will happen once Hilton gets involved? Am I doing something that Hilton will do anyway once they take over am I spending 18k on something I may get for free anyway?

 

[Grammarhero]

Wail here in Hawaii we attended an “update meeting” were they told us consolidating our us collection and our Cabo collection into the Hawaii collection would save us money on maintenance fees. Since Cabo is a trust and Hawaii is a deed we would have more flexibility later on if we wanted to divest our selves of the investment making it easier as it would be more desirable since it’s a Hawaii only collection. It also stated in the paper work if my wife and I pass my son wouldn’t be obligated to take responsibility for it if he didn’t want it. We have to buy 500 points and convert the 22500 points from other collections into Hawaii for roughly 18,900$. In theory this sounds like a good deal I get rid of my us collection and Cabo collection that really have zero value and I get Hawaii only that may also have zero value? They also said it may be harder for my wife and I to use Hawaii as a destination since more people will be booking here and we won’t have the priority window to get what we want since we only have 7500 points priority in Hawaii now. My biggest thing is why are they pushing me to consolidate my points does it have something to do with what will happen once Hilton gets involved? Am I doing something that Hilton will do anyway once they take over am I spending 18k on something I may get for free anyway?

Possibly. With so much uncertainty, I’d say save the $18.9k and wait and see.

 

[T_R_Oglodyte]

My biggest thing is why are they pushing me to consolidate my points does it have something to do with what will happen once Hilton gets involved?

They are not pushing you to consolidate your points. They are pushing you to buy more points. Don't make it more complicated than that.

You should consider that anything you own is worthless, including any new points you buy or what you might have after "consolidation".

Cabo is a trust and Hawaii is a deed we would have more flexibility later on if we wanted to divest our selves of the investment making it easier as it would be more desirable since it’s a Hawaii only collection.

There is no investment here. At best you will get back pennies on what you purchase. What you own will most likely only be desirable if you give it away for free. As to whether it's easier to give away as a trust and a deed (likely separately), I don't think anyone knows. Certainly the sales person doesn't know, because he or she hasn't done it, and it unlikely that they know anyone who has. The sales person is just spouting information they may have told during training sessions on closing sales.

It is likely however, that in the end your Hawaii deed will have the most value.

They also said it may be harder for my wife and I to use Hawaii as a destination since more people will be booking here and we won’t have the priority window to get what we want since we only have 7500 points priority in Hawaii now.

More sales person spiel. First of all, as a deeded owner you draw from inventory that is set aside for deeded owners and is not made available to Club members. Diamond trust cannot take more weeks out of the resort than they have ownership for. You are competing against other deeded owners, all of you with booking window that is probably 12 months before checkin.

What do you own that gives you 7500 points priority in Hawaii? That must be your deed, but I'm not sure what type of deed is 7500 point deed.

 

[Fried_shrimp]

The only good aspect of making a purchase to consolidate a portfolio into one contract is if you decide to get out using Transitions, it will (under current rules) cost $1,000. I have 7 contracts and this line of reasoning made me think hard about it but in the end, I decided if my financial life took such a hard turn later on down the road I probably wouldn't have the money to pay the $1,000, much less the $7,000 Transitions fee and I would be wasting $10,000 right now to buy points I don't need just to consolidate.

The ONLY reason anyone should ever make a purchase, IMO, is because they want to vacation more with Diamond.

 

[clifffaith]

Rest assured the next time you visit a US Collection resort they will tell you scary stories of water intrusion and special assessments in Hawaii (which by the way happened twelve years ago or so) and try to get you to buy US points and they'll move your Hawaii points into the US Collection as part of the "deal". All just part of their smoke and mirrors.

 

[geist1223]

I do not think DRI sells Deeds in the Hawaiian Collection. It is Points. DRI tries to get Point at Poipu Deed Owners to convert to Hawaiian Collection Points. We recently switched from solely Hawaiian Collection Points to solely Cabo Azul Points.Our MF were cut by about 40%..

 

[Iggyearl]

Thought #1. Unless your children are already on your contracts as owners, they don't have to inherit your timeshares NOW. They can reject (disavow) an inheritance if they don't want it.
Thought #2. Salesmen don't eat unless they sell. The Diamond modus operandi is to change whatever you have into something else. If you are vacationing now the way you want, consider yourself fortunate. Clifffaith (above) in post #5 explains it perfectly. If you were vacationing in Las Vegas, the recommendation would be to transfer to the U.S Collection. You're in Hawaii, so you should change to Hawaii. They won't stop until you run out of money.

 

[T_R_Oglodyte]

The ONLY reason anyone should ever make a purchase, IMO, is because they want to vacation more with Diamond.

And even then a person should investigate whether there is resale (i.e., non-DRI Club) option that would do the trick and could be had for much less money.

 

[T_R_Oglodyte]

I do not think DRI sells Deeds in the Hawaiian Collection. It is Points.

Correct. DRI only sells Trust ownerships, with Club Membership included if you buy from them. Deeds are available only on the resale market.

 

[Chika]

The only good aspect of making a purchase to consolidate a portfolio into one contract is if you decide to get out using Transitions, it will (under current rules) cost $1,000. I have 7 contracts and this line of reasoning made me think hard about it but in the end, I decided if my financial life took such a hard turn later on down the road I probably wouldn't have the money to pay the $1,000, much less the $7,000 Transitions fee and I would be wasting $10,000 right now to buy points I don't need just to consolidate.

The ONLY reason anyone should ever make a purchase, IMO, is because they want to vacation more with Diamond.

Just did this in Hawaii and now regret the cost of annual points for a Platinum Hawaii Collection. Transitions?

 

[Chika]

Correct. DRI only sells Trust ownerships, with Club Membership included if you buy from them. Deeds are available only on the resale market.

not anymore. we traded ours when the cost of Poipu began to climb and still is

 

[Chika]

And even then a person should investigate whether there is resale (i.e., non-DRI Club) option that would do the trick and could be had for much less money.

but the line is that is is not the SAME

 

[Chika]

I do not think DRI sells Deeds in the Hawaiian Collection. It is Points. DRI tries to get Point at Poipu Deed Owners to convert to Hawaiian Collection Points. We recently switched from solely Hawaiian Collection Points to solely Cabo Azul Points.Our MF were cut by about 40%..

agreed. We want to leave Diamond because of the cost and spend our time in Mexico

 

[Chika]

Possibly. With so much uncertainty, I’d say save the $18.9k and wait and see.

It is true that the Asian market is being sold "fractional ownership" and Hawaii is their closest option. Was there in Feb and no one was there. Awesome just a hassle to get the QR codes and $$

 

[T_R_Oglodyte]

but the line is that is is not the SAME

Of course it's not identical. And of course they sales force makes it seem as if the differences are huge. But it comes back to whether a resale will do the trick for what a person is interested in.

 

[T_R_Oglodyte]

Correct. DRI only sells Trust ownerships, with Club Membership included if you buy from them. Deeds are available only on the resale market.

not anymore. we traded ours when the cost of Poipu began to climb and still is

I'm not sure what you are saying that DRI allowed you into the Club without making you buy some points from them? If so, that would be the first I've heard of that since the time nearly 20 years ago when Sunterra brought their club (predecessor to DRI) to the Point.

 

[T_R_Oglodyte]

Rest assured the next time you visit a US Collection resort they will tell you scary stories of water intrusion and special assessments in Hawaii (which by the way happened twelve years ago or so) and try to get you to buy US points and they'll move your Hawaii points into the US Collection as part of the "deal". All just part of their smoke and mirrors.

If you have a deed (instead of a trust membership) you don't have to pay the annual trust management fee. With that, we've come out money ahead on our deed, even after the intrusion assessment. Where converting a deed to a trust does work out is if you own at a resort that has an enormously high annual fee, and by putting it into the trust you can save enough money on those fees to offset the annual trust charge. Of course to move it into the trust, you need to buy something from them, and when you put that cost into the equation, you come out way behind.

 

[Fried_shrimp]

Just did this in Hawaii and now regret the cost of annual points for a Platinum Hawaii Collection. Transitions?

First, to utilize Transitions, all loans with Diamond have to be paid off. But if you just upgraded to Platinum in Hawaii, why give those points back to Diamond? You can still book Cabo (or use DEX for other locations) in Mexico with your Hawaii points. Yo just don't a 13 month booking window in Mexico.

 

[Chika]

I'm not sure what you are saying that DRI allowed you into the Club without making you buy some points from them? If so, that would be the first I've heard of that since the time nearly 20 years ago when Sunterra brought their club (predecessor to DRI) to the Point.

sorry of course they 'made' us purchase as we did since 1994 always in small increments to reach the golden next level.

 

[csalter2]

A word of caution to all DRI owners. If you don’t want more time for vacation, do not buy anything more from Diamond resorts. I have been with Diamond since they bought Sunterra in 2007-08. If you’re in the US Collection and you’re in Hawaii, the sales person will tell you how cheap the values of the properties are, how you’ll never get into the Hawaii properties in the future because of the limited inventory, etc. They even talk about how much equity you have in your timeshare. These are all lies. That’s putting it plain and simple. If you’re a Hawaii collection owner, they will try to make you seem foolish for buying Hawaii instead of the US Collection. The bottom line is that they earn their living selling you more points. I’m a. US Collection owner. At 13 months out I can get whatever I want in my collection. At 10 months out, I’ve always gotten whatever I want in Hawaii including 2 bedrooms at Ka’anapali Beach Club, and the deluxe ocean view 2 bedrooms at Cabo Azul. The bottom line is is that you don’t need to buy more points unnecessarily. Keep what you have and you’ll still be able to travel in the system successfully. Take this from a happy and very knowledgeable owner.

 

[Fried_shrimp]

A word of caution to all DRI owners. If you don’t want more time for vacation, do not buy anything more from Diamond resorts. I have been with Diamond since they bought Sunterra in 2007-08. If you’re in the US Collection and you’re in Hawaii, the sales person will tell you how cheap the values of the properties are, how you’ll never get into the Hawaii properties in the future because of the limited inventory, etc. They even talk about how much equity you have in your timeshare. These are all lies. That’s putting it plain and simple. If you’re a Hawaii collection owner, they will try to make you seem foolish for buying Hawaii instead of the US Collection. The bottom line is that they earn their living selling you more points. I’m a. US Collection owner. At 13 months out I can get whatever I want in my collection. At 10 months out, I’ve always gotten whatever I want in Hawaii including 2 bedrooms at Ka’anapali Beach Club, and the deluxe ocean view 2 bedrooms at Cabo Azul. The bottom line is is that you don’t need to buy more points unnecessarily. Keep what you have and you’ll still be able to travel in the system successfully. Take this from a happy and very knowledgeable owner.

Amen!

And if you're a Platinum owner the 10 month out of collection window is extended to 11 months.

 

[Rtong]

I do not think DRI sells Deeds in the Hawaiian Collection. It is Points. DRI tries to get Point at Poipu Deed Owners to convert to Hawaiian Collection Points. We recently switched from solely Hawaiian Collection Points to solely Cabo Azul Points.Our MF were cut by about 40%..

Are you serious about the saving that Cabo Azul charge less MF? With this switch, did it impact your booking capability outside of Cabo? Thanks ahead for your advise as I am considering where I should rescind my contact by 6/22.

 

[TUGBrian]

Are you serious about the saving that Cabo Azul charge less MF? With this switch, did it impact your booking capability outside of Cabo? Thanks ahead for your advise as I am considering where I should rescind my contact by 6/22.

you should rescind regardless! the fact that you still have unanswered questions is MORE than reason enough to do so.

once you get those questions answered, you can always make that same purchase again but you will only have one chance to rescind!

 

[Tamaradarann]

They are not pushing you to consolidate your points. They are pushing you to buy more points. Don't make it more complicated than that.

You should consider that anything you own is worthless, including any new points you buy or what you might have after "consolidation".

There is no investment here. At best you will get back pennies on what you purchase. What you own will most likely only be desirable if you give it away for free. As to whether it's easier to give away as a trust and a deed (likely separately), I don't think anyone knows. Certainly the sales person doesn't know, because he or she hasn't done it, and it unlikely that they know anyone who has. The sales person is just spouting information they may have told during training sessions on closing sales.

It is likely however, that in the end your Hawaii deed will have the most value.

More sales person spiel. First of all, as a deeded owner you draw from inventory that is set aside for deeded owners and is not made available to Club members. Diamond trust cannot take more weeks out of the resort than they have ownership for. You are competing against other deeded owners, all of you with booking window that is probably 12 months before checkin.

What do you own that gives you 7500 points priority in Hawaii? That must be your deed, but I'm not sure what type of deed is 7500 point deed.

I totally agree with the first statement and IMO that is THE reason that they are pushing you to buy or make a change. They want to make a sale. The reason they give you for making the sale may or may not be beneficial to you. That you need to figure out yourself. You can't trust or let the sales people lead you to or make the decision for you. They are trying to optimize their income by making a sale. You need to optimize what you want while keeping a eye on your financial picture.

 

[geist1223]

The Booking Window for DRI Resorts outside of your Home Collection is 10 months. We have had no problem Booking into Hawaii DRI Resorts. And as Platinum Members our out of Collection Booking Window is 11 months.