Any new info regarding DRI sale to Hilton?

[CanuckTravlr]

So, does Mark Wang work for HVAC? Who is David Katz? I’m a little confused with this message. Did someone gather this info and post it here or did Katz or Wang weigh in here on TUG?

First, its HGV or HGVC, not HVAC. Let me make it really simple. These excerpts were from the online meeting with HGV execs and various investment analysts for the HGV 2nd quarter results. Mark Wang is the President and CEO of Hilton Grand Vacations Inc. and will soon be in charge of both HGVC and Diamond, once merged. David Katz is a market analyst with Jefferies Financial Group in NYC. These meetings are held quarterly, as is the case with most publicly-traded companies.

 

[youppi]

We received this email today

Today marks an exciting milestone for our company and the entire travel industry. As of this morning, Hilton Grand Vacations has officially acquired Diamond Resorts. Together, we are now one of the world’s largest timeshare networks with a combined portfolio of 710,000 Owners, 154 properties and the broadest range of offerings in vacation ownership. To our new Owners, I am excited to welcome you to the Hilton Grand Vacations family and look forward to meeting many of you in the future. And to all of you, thank you. We reached this milestone today because of your loyalty and passion for travel and, together, we remain focused on delivering high-quality, world-class vacation experiences. We recognize the world of travel is changing and through this transformational combination, we are better positioned to provide you with more options in more destinations, which means more flexibility in where, how and when you travel. As Owners, your vacation experiences with us are critical, and I want to highlight what opportunities this combination will create or enhance. I'll also highlight what is not changing — our exceptional service and focus on once-in-a-lifetime experiences.​

What Are The Opportunities More Destinations: Our network now extends to over 150 properties in sought-after destinations, including drive-to, regional and international markets. Many of these properties are in new locations and highly desired vacation spots. Greater Product Access: Together, we will provide the broadest range of offerings with a broader price range — from upscale to luxury offerings. As new membership and timeshare product opportunities are available, we will be sure to share these with you, including program and product costs. For the time being, nothing changes — your important contacts remain the same, and you will continue to make reservations as you do now.

What Is Not Changing Uninterrupted Services: We are committed to ensuring a smooth and seamless transition to a combined business. Integrating Hilton Grand Vacations and Diamond Resorts is a multi-year, phased approach and, at this time, both companies will continue to operate independently. Your access to your timeshare or Club exchange programs, existing resort destinations, contracts and services will remain the same. Focus on Excellence: Both Hilton Grand Vacations and Diamond Resorts are dedicated to creating exceptional travel experiences. As a combined business, we will be guided by the Hilton Grand Vacations mission, vision and values and we'll remain committed to delighting our Owners and guests through exceptional service, while achieving new heights of excellence.

In the months and years ahead, our Team Members look forward to serving you as we integrate these two outstanding companies into one. If you have any questions in the meantime, please click here. This page provides answers to questions you might have about the acquisition. We truly appreciate your continued loyalty, and I hope that you are as excited as we are to embark on this new chapter together. With our shared vision for the future, I am proud to be part of a strong, unified and truly exceptional new era for Hilton Grand Vacations.​

​

 

[youppi]

About the Acquisition


Q1. How does Hilton Grand Vacations’ acquisition of Diamond Resorts impact my timeshare ownership?
HGV’s acquisition of Diamond has created one of the largest timeshare networks in the industry, joining HGV’s brand and culture with Diamond’s strong, independent portfolio. This combination will increase product and service offerings in the future, while providing the same level of hospitality you’ve come to expect from both companies. Please read President and CEO Mark Wang’s email for details about the acquisition.
Q2. What details can you provide about the acquisition?
For full details about the acquisition, please read Hilton Grand Vacations’ official press release available at hiltongrandvacations.com/en/news.
Q3. Will HGV remain a publicly-traded company?
Yes. HGV will continue to be traded on the New York Stock Exchange (NYSE) under the ticker symbol “HGV.”
Q4. I read HGV is going to provide access to more products and destinations. Can you share any details?
HGV’s acquisition of Diamond will expand our property portfolio in the future, providing more vacation options around the world. While HGV will acquire Diamond, integrating the two companies will be a multi-year, phased initiative. As new membership and timeshare product opportunities are available in the future, including program and product costs, these will be communicated to Owners.


Timeshare Ownership & Club Membership


Q5. Will the acquisition of Diamond affect Owners?
Although we expect to be able to offer more choices and vacation opportunities in the future, your ownership rights and access will not be changed or diluted.
Q6. Will the terms of my current timeshare ownership change? Will my 2021 fees go up?
Your timeshare ownership will remain the same, and you will continue to make reservations the same way you do now. Also, there will be no changes to any of your 2021 Club Dues or maintenance fees as the result of the acquisition. Information about your 2022 maintenance fees and Club Dues will be shared with you when available.
Q7. Can I transfer my Diamond timeshare to HGV?
Your timeshare ownership cannot be transferred to HGV.
Q8. I own both an HGV and Diamond timeshare. Can I merge my ownership interests?
Your timeshare ownership cannot be transferred or merged.
Q9. Will HGV buy my Diamond timeshare?
HGV is unable to buy any Diamond timeshares from current Owners. Similarly, Diamond is unable to buy any timeshares from HGV Owners.
Q10. Will Club Members automatically become part of each Club program?
Your Club program membership will remain as it is currently. As new membership and timeshare product opportunities are available in the future, including program and product costs, these will be communicated to Owners.
Q11. Will my payment options change in 2021?
You will continue to make payments the same way you do now, including maintenance fees, Club Dues and other payments.


Inventory Availability and Access


Q12. Will the acquisition impact inventory availability?
You will continue to access available inventory the same way you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.
Q13. Can I use my Points to access HGV resorts?
You may continue to use your Points to access your timeshare ownership the same way you do now. If you wish to access a resort outside of your current Club program, you may do so through DEX or another timeshare exchange platform based on the rules of your current Club membership program.
Q14. Will I be able to access HGV’s Club website to make a reservation?
You will continue to access the Club website the same way you do now. Over time, we will provide additional details on how these two Clubs may function together.
Q15. I’m a Diamond Owner. Will I have access to HGV properties?
You will continue to access inventory the same way you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.


Relationship with Hilton


Q16. Will HGV retain the Hilton brand?
HGV will remain one of Hilton’s many brands. The Hilton values and standards are cornerstones of our business and critical to our future success.
Q17. I’m a Diamond Owner. Can I use my Points to book a stay at a Hilton hotel?
You will continue to have access to the services and programs you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.
Q18. I’m a Diamond Owner. Will I automatically get Hilton Honors Silver Status as the result of the acquisition?
You will continue to have access to the services and programs you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.


Brand Standards and Management


Q19. What are HGV’s plans for rebranding properties?
Our service to Owners is of the utmost importance. Rebranding of properties is under consideration but will be a multi-year, phased approach. We will also work in partnership with Hilton, our partners and associations during this process.
Q20. Is HGV going to manage all Diamond properties now?
Diamond properties will continue to be managed the same way they are now with some involvement from Hilton Grand Vacations. Integrating the two companies will be a multi-year, phased initiative.


Updates and Communications


Q21. How will I be notified of upcoming changes?
As details are identified and new vacation products and services are available, we will communicate with Owners to keep you informed along the way. We will continue to leverage existing communication channels, including updates via email and through your Club program website.
Q22. Who can I contact with additional questions or concerns related to this acquisition?
As the merger continues, we will communicate with Owners to keep you informed.
- If you’re an HGV Owner, please visit our Contact Us page for contact information.
- If you’re a Diamond U.S. Owner, please contact 877-374-2582 or email theclub@diamondresorts.com.

- If you’re a Diamond EU Owner, please contact 0345-359-0005 or email theclub@diamondresorts.com.

- If you’re an Embarc Owner, please contact 604-695-8473 or email theclub@diamondresorts.com.

 

[DRIless]

My crystal ball says maybe more news on August 2nd. I have seen sales people get fired over discussing anything to do with the sale/merger other than what is available to the general public in financial news. Maybe they're a lot stricter on the Right Coast than on the Left Coast and Hawaii?

Am I good, or what???

We received this email today

​

​

​

​

​

​ Today marks an exciting milestone for our company and the entire travel industry. As of this morning, Hilton Grand Vacations has officially acquired Diamond Resorts. Together, we are now one of the world’s largest timeshare networks with a combined portfolio of 710,000 Owners, 154 properties and the broadest range of offerings in vacation ownership. To our new Owners, I am excited to welcome you to the Hilton Grand Vacations family and look forward to meeting many of you in the future. And to all of you, thank you. We reached this milestone today because of your loyalty and passion for travel and, together, we remain focused on delivering high-quality, world-class vacation experiences. We recognize the world of travel is changing and through this transformational combination, we are better positioned to provide you with more options in more destinations, which means more flexibility in where, how and when you travel. As Owners, your vacation experiences with us are critical, and I want to highlight what opportunities this combination will create or enhance. I'll also highlight what is not changing — our exceptional service and focus on once-in-a-lifetime experiences.​

​

What Are The Opportunities​ More Destinations: Our network now extends to over 150 properties in sought-after destinations, including drive-to, regional and international markets. Many of these properties are in new locations and highly desired vacation spots. Greater Product Access: Together, we will provide the broadest range of offerings with a broader price range — from upscale to luxury offerings. As new membership and timeshare product opportunities are available, we will be sure to share these with you, including program and product costs. For the time being, nothing changes — your important contacts remain the same, and you will continue to make reservations as you do now.

​

What Is Not Changing​ Uninterrupted Services: We are committed to ensuring a smooth and seamless transition to a combined business. Integrating Hilton Grand Vacations and Diamond Resorts is a multi-year, phased approach and, at this time, both companies will continue to operate independently. Your access to your timeshare or Club exchange programs, existing resort destinations, contracts and services will remain the same. Focus on Excellence: Both Hilton Grand Vacations and Diamond Resorts are dedicated to creating exceptional travel experiences. As a combined business, we will be guided by the Hilton Grand Vacations mission, vision and values and we'll remain committed to delighting our Owners and guests through exceptional service, while achieving new heights of excellence.

​

In the months and years ahead, our Team Members look forward to serving you as we integrate these two outstanding companies into one. If you have any questions in the meantime, please click here. This page provides answers to questions you might have about the acquisition. We truly appreciate your continued loyalty, and I hope that you are as excited as we are to embark on this new chapter together. With our shared vision for the future, I am proud to be part of a strong, unified and truly exceptional new era for Hilton Grand Vacations.​ ​

​

​

About the Acquisition


Q1. How does Hilton Grand Vacations’ acquisition of Diamond Resorts impact my timeshare ownership?
HGV’s acquisition of Diamond has created one of the largest timeshare networks in the industry, joining HGV’s brand and culture with Diamond’s strong, independent portfolio. This combination will increase product and service offerings in the future, while providing the same level of hospitality you’ve come to expect from both companies. Please read President and CEO Mark Wang’s email for details about the acquisition.
Q2. What details can you provide about the acquisition?
For full details about the acquisition, please read Hilton Grand Vacations’ official press release available at hiltongrandvacations.com/en/news.
Q3. Will HGV remain a publicly-traded company?
Yes. HGV will continue to be traded on the New York Stock Exchange (NYSE) under the ticker symbol “HGV.”
Q4. I read HGV is going to provide access to more products and destinations. Can you share any details?
HGV’s acquisition of Diamond will expand our property portfolio in the future, providing more vacation options around the world. While HGV will acquire Diamond, integrating the two companies will be a multi-year, phased initiative. As new membership and timeshare product opportunities are available in the future, including program and product costs, these will be communicated to Owners.


Timeshare Ownership & Club Membership


Q5. Will the acquisition of Diamond affect Owners?
Although we expect to be able to offer more choices and vacation opportunities in the future, your ownership rights and access will not be changed or diluted.
Q6. Will the terms of my current timeshare ownership change? Will my 2021 fees go up?
Your timeshare ownership will remain the same, and you will continue to make reservations the same way you do now. Also, there will be no changes to any of your 2021 Club Dues or maintenance fees as the result of the acquisition. Information about your 2022 maintenance fees and Club Dues will be shared with you when available.
Q7. Can I transfer my Diamond timeshare to HGV?
Your timeshare ownership cannot be transferred to HGV.
Q8. I own both an HGV and Diamond timeshare. Can I merge my ownership interests?
Your timeshare ownership cannot be transferred or merged.
Q9. Will HGV buy my Diamond timeshare?
HGV is unable to buy any Diamond timeshares from current Owners. Similarly, Diamond is unable to buy any timeshares from HGV Owners.
Q10. Will Club Members automatically become part of each Club program?
Your Club program membership will remain as it is currently. As new membership and timeshare product opportunities are available in the future, including program and product costs, these will be communicated to Owners.
Q11. Will my payment options change in 2021?
You will continue to make payments the same way you do now, including maintenance fees, Club Dues and other payments.


Inventory Availability and Access


Q12. Will the acquisition impact inventory availability?
You will continue to access available inventory the same way you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.
Q13. Can I use my Points to access HGV resorts?
You may continue to use your Points to access your timeshare ownership the same way you do now. If you wish to access a resort outside of your current Club program, you may do so through DEX or another timeshare exchange platform based on the rules of your current Club membership program.
Q14. Will I be able to access HGV’s Club website to make a reservation?
You will continue to access the Club website the same way you do now. Over time, we will provide additional details on how these two Clubs may function together.
Q15. I’m a Diamond Owner. Will I have access to HGV properties?
You will continue to access inventory the same way you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.


Relationship with Hilton


Q16. Will HGV retain the Hilton brand?
HGV will remain one of Hilton’s many brands. The Hilton values and standards are cornerstones of our business and critical to our future success.
Q17. I’m a Diamond Owner. Can I use my Points to book a stay at a Hilton hotel?
You will continue to have access to the services and programs you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.
Q18. I’m a Diamond Owner. Will I automatically get Hilton Honors Silver Status as the result of the acquisition?
You will continue to have access to the services and programs you do now. Over time, we will provide additional details on how these two Clubs may function together, including future access and program costs or options.


Brand Standards and Management


Q19. What are HGV’s plans for rebranding properties?
Our service to Owners is of the utmost importance. Rebranding of properties is under consideration but will be a multi-year, phased approach. We will also work in partnership with Hilton, our partners and associations during this process.
Q20. Is HGV going to manage all Diamond properties now?
Diamond properties will continue to be managed the same way they are now with some involvement from Hilton Grand Vacations. Integrating the two companies will be a multi-year, phased initiative.


Updates and Communications


Q21. How will I be notified of upcoming changes?
As details are identified and new vacation products and services are available, we will communicate with Owners to keep you informed along the way. We will continue to leverage existing communication channels, including updates via email and through your Club program website.
Q22. Who can I contact with additional questions or concerns related to this acquisition?
As the merger continues, we will communicate with Owners to keep you informed.
- If you’re an HGV Owner, please visit our Contact Us page for contact information.
- If you’re a Diamond U.S. Owner, please contact 877-374-2582 or email theclub@diamondresorts.com.

- If you’re a Diamond EU Owner, please contact 0345-359-0005 or email theclub@diamondresorts.com.

- If you’re an Embarc Owner, please contact 604-695-8473 or email theclub@diamondresorts.com.

 

[T_R_Oglodyte]

We have our "Owners Update" scheduled for Aug. 10 at Point at Poipu. It will be interesting, particularly because if there are any Diamond properties that Hilton would be interesting in upbranding, the Point is one of the likely properties.

If I have time I will report on what I hear.

 

[pedro47]

Am I good, or what???
Yes! Good job.

 

[dougp26364]

We have our "Owners Update" scheduled for Aug. 10 at Point at Poipu. It will be interesting, particularly because if there are any Diamond properties that Hilton would be interesting in upbranding, the Point is one of the likely properties.

If I have time I will report on what I hear.

Hopefully you can get some straight answers out of them. I’m a little surprised/impressed that Hilton believes they can have the structure of an integrated program ready to roll out by early next year. Especially since they’ve put it out there in official announcements bs MVC, which seems to only spread rumors via their sales force.

Right now I fear it will still be rumors, buy more now to get grandfathered in, but nothing in writing. Until it’s in a writing I’m not holding my breath.

I’ve semi-sort-of revisited the DRI portfolio and have come to the conclusion that, for us, it’s to little to late out of Hilton. Except for Sedona and Santa Fe, I have the vast majority of locations we’d be interested in covered. If the joiner fee (assuming there is a joiner fee) is low enough, it would allow us to easily drop II and never pay an exchange fee to them again. Right now, the only way we get to Sedona, which we love, is via an exchange. DRI commands Sedona. With their decision to pull away from II, getting a unit at one of their better resorts has been a little more difficult.

 

[pedro47]

Information only:
DRI owners will still login into their accounts using the DRI website.

 

[T_R_Oglodyte]

That being said, one of my best friends since grade school works for Diamond Resorts in Florida, and he certainly has no reason to lie to me. He says that the lower level employees like him don't know any more than anyone else right now.

Sales organizations have regular training sessions, ostensibly to teach the sales staff about what they are selling. That's a lie. The purpose of the training sessions is to help the sales staff make more sales. And what the sales staff want to know is how they can increase their sales efficiency.

Knowledge of the product is important only to the extent it helps close sales. And when that product information is passed on, it is always targeted to how you can use that information to help make sales.

So when something such as the Hilton deal comes along, these are the key issues among the sales staff. For most (but not all) people the questions will occur in the following order:

1. Are the new bosses going to lay me off or fire me?
2. How is this going to screw up the sales pitches I know and make it harder for me to get sales?
3. How can I use this as a selling point to get more sales?

With respect to point #3, if they don't have information they will brainstorm ideas and concepts they can use that might sound plausible. Because they have to have something to offer as a reason to buy. They can't afford to have you in the sales room and say, "We don't know what this means.", because that doesn't lead to sales, and they need to makes sales quotas or #1 will definitely happen.

So absolutely they will stretch and extrapolate and infer and do anything else that is needed for them to able to give you a reason to buy more. Because if they don't come to something to pitch, then soon they won't be coming to work.

 

[T_R_Oglodyte]

We have our "Owners Update" scheduled for Aug. 10 at Point at Poipu. It will be interesting, particularly because if there are any Diamond properties that Hilton would be interesting in upbranding, the Point is one of the likely properties.

If I have time I will report on what I hear.

So, a summary of our Owners Update at Point at Poipu. Note that Owners Update is different from the sales to the masses. Much lower key.

• They were careful to say that very little has been determined in regards to the combination with Hilton, though they expect that overtime there will be some interchanges between systems.

• This led to their Fear of Loss pitch. When the crossover happens, Hilton owners will be able to book Poipu, and our ability to reserve weeks at the Point will be diminished. So we need to buy more Diamond points now to get to a higher level in Diamond, because when the crossover occurs Platinum and higher owners in Diamond will likely be accorded similar reservation rights in Hilton.

• And we can get more points in Diamond for the bargain p;rice of $11.68 per point. Which means that if we wanted to add 10,000 points (roughly equivalent to one week in a partial ocean view at the Point), it would only cost us $116,800.

• And that price of $11.68 per point is a bargain, because when the systems are merged, Hilton is going to jack up the price per point. But right now, until the systems are merged, Hilton is allowing Diamond to continue selling points at $11.68 as a "Thank You" to Diamond owners for showing faith in Hilton by being willing to add to their ownership despite the uncertainties.

• When that clearly was a no go, they downscaled the offer to 4500 points, so that we would have enough Diamond points to be able to reserve three weeks for our multi-generational family vacations. And that would be only $52,600. I didn't push him on the math because it was clearly ridiculous. We have enough Diamond points now to reserve three weeks if we reserved three garden view units, one of which we could upgrade to partial ocean view. And if I need more points I can just deposit our Winners Circle week via Club Combinations to get 5000 more points. So we've pretty much already have what he was proposing. Or we can borrow points from a future year.

• With that being a no-go, the "boss" came-in, and he said that they could sell us more points at the average points value of all of the points purchases we have made over the years from Diamond. That came out to about $5.80 per point. And that offer was good for 18 months from today. After that Hilton was going to take it away and we would be obligated to pay Hilton rates for any point additions we want to make. So now those 4500 additional points would only cost us 26,100 dollars. Still a no go.

• Referencing what I put into another comment about how sales is more about listening that it is about talking. The guy we were with was talking pretty much non-stop, and not dispensing much useful information. He went into the pitch we have heard before about the wonderful opportunities to use our points for others activities such as cruises or visits to eco-resorts in Costa Rica.
  
  I responded that every time I have looked into monetizing our points for anything other than Diamond resort reservations, the pricing is terrible. For what my monetary cost is in Diamond points, I could just simply book that activity or option for less money. I concluded with saying that as far as I could tell, the only reason to monetize Diamond points for other travel services is because you have expiring points that you can't use and you can salvage some value from them. He had no response.

• He finally got to the point he should reached much sooner, and asked what is keeping us from taking the offer. We had previously indicated that what we had now now met our current needs, and that we were really only interested in using our points to come to Poipu. The dots on the map don't mean much to us. So things had largely come down to what if our extended family grew and we wanted to be able to reserve three units instead of two.
  
  So I said that if we were in a situation in which we felt a need to acquire more time at the Point, I would just simply go out on the resale market and get a 15,000 point Hawaii trust ownership or a deeded ocean front week for no cost, transfer fees only and sometimes not even that. He seemed genuinely shocked that was possible - that people were willing to give away their ownerships. I mentioned to him the Diamond Transitions program, in which Diamond allows Club owners to surrender contracts, and charges them $1000 for the privilege. If those ownerships had any value, why would owners be willing to pay Diamond to surrender the ownership, instead of going out and selling the for real money? I don't think he had ever thought about that question, or perhaps he was unfamiliar with the Transitions program. He was clearly unfamiliar with ownership transfer process within Diamond, as he insisted that it couldn't be possible that Diamond would transfer ownership for a set fee. He mentioned many times supposed added transition fees that Marriott adds (he previously worked for Marriott at their Poipu property), such as cost recovery for owner education programs. But he was clearly completely uninformed about ownership transition in Diamond.

• Then at the end they brought in the person to do the final pitch. Her job was to tell us about the special program where if we paid $3995, we could lock in that $5.80 per point price for 24-months. That was so ridiculous it was insulting. We already had that price locked in for 18 months. Why would I pay $3995 to extend it for six months more?

 

[T_R_Oglodyte]

So, a summary of our Owners Update at Point at Poipu.

An added thought.

There was absolutely no pressure to buy today. No today only incentives. No today-only price. The only issue related to any kind of timeline is the price lock, but that's good for 18 months.

 

[Bunk]

• Then at the end they brought in the person to do the final pitch. Her job was to tell us about the special program where if we paid $3995, we could lock in that $5.80 per point price for 24-months. That was so ridiculous it was insulting. We already had that price locked in for 18 months. Why would I pay $3995 to extend it for six months more?

Does this mean that if you don't exercise the options to buy these points, you will have lost $3,995?

 

[DRIless]

An added thought.
There was absolutely no pressure to buy today. No today only incentives. No today-only price. The only issue related to any kind of timeline is the price lock, but that's good for 18 months.

Does this mean that if you don't exercise the options to buy these points, you will have lost $3,995?

Probably came with some sort of Sampler Package Points?

 

[T_R_Oglodyte]

Does this mean that if you don't exercise the options to buy these points, you will have lost $3,995?

Probably came with some sort of Sampler Package Points?

Thank you - I forgot that point. Yes - the $3995 included 50,000 regular Diamond points. [on reflection, I'm not sure this is correct. It seems way too little $ for that many points.] I didn't pursue this to find out if those would be attached to a specific collection (and hence would have home resort privileges somewhere in the system) of they would be just general club points. (Most likely the latter.)

*********************

Not sure what I posted above is correct. Thinking further, I think the 50,000 point add-on would have occurred in conjunction with the original 10,000 point offer (which was > $100k). That makes more sense.

 

[pedro47]

So you must attend a sales presentation to be offered the 50,000 regular Diamonds points at $3995. Correct?

 

[T_R_Oglodyte]

So you must attend a sales presentation to be offered the 50,000 regular Diamonds points at $3995. Correct?

Probably. And it's likely an offer that they only make to owners. For non-owners they probably have a sampler package. The sampler package that I recall, before they separated existing owners from non-owners in the sales process, was good only at limited set of resorts.

 

[T_R_Oglodyte]

So you must attend a sales presentation to be offered the 50,000 regular Diamonds points at $3995. Correct?

See edited comments about the 50k point offer. I don't believe it was connected to the close-out offer, but to the first points purchase offer they made.

Sorry - that was a detail that I didn't attend to closely in the presentation because it was clear we weren't going to be buying anything.

 

[youppi]

See edited comments about the 50k point offer. I don't believe it was connected to the close-out offer, but to the first points purchase offer they made.

Sorry - that was a detail that I didn't attend to closely in the presentation because it was clear we weren't going to be buying anything.

Normally the pitch is 20k points for $3995 valid for 2 years and count for your loyalty level.
If you own already 30k points, they will tell you that you will have 50k points and be platinum for 2 years.
The 50k points is real only on the first year. The second year you get only your 30k but you keep the platinum level the second year too.

 

[T_R_Oglodyte]

Normally the pitch is 20k points for $3995 valid for 2 years and count for your loyalty level.
If you own already 30k points, they will tell you that you will have 50k points and be platinum for 2 years.
The 50k points is real only on the first year. The second year you get only your 30k but you keep the platinum level the second year too.

Our close out didn't mention anything about loyalty levels. It lasted no more than three minutes.