This article is addressing Diamond Resorts owners in Europe.
I certainly don't understand how both Kaanapali & Poipu can be pulled out of DRI - Hawaiian Collection. I obviously don't understand trusts (nor DRI either) but I thought that those two resorts were the only HI resorts in the Hawaiian Collection.
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Now that makes sense.
Perhaps. But it probably won't happen. Every time they create these trusts and add inventory, it becomes public record. Once inventory is declared, it is not an easy or cheap process to remove it. Not saying it wouldn't happen, but there is really no need to even do so. They can simply offer cross bookings via affiliation and utilize the existing exchange company that is under the HGV Club to facilitate bookings just as they do in SW Florida. No need for the additional expense of adding and removing inventory. And to date, we have NEVER seen MVC swap deeds and I doubt we ever will. So we really don't even know it would work there or what legal ramifications it would have.
I'm on site in Orlando so digging around, my contacts are high up, but of course things can change. I just double checked on the HGVC golf tourney in January and they are moving it from Mystic Dunes (they've booked out the whole hotel at a brand new luxury hotel that opened today for the week).
How can weeks from the DRI trusts go into the Club? Aren't HGV owners members of the club and the weeks they own are the utility to convert to currency (points)? Those weeks in the DRI trust are owned by everyone that owns points in the DRI trusts?
Anything that is in the Trust is owned by the Trust. So DRI does not/can not own weeks in the Trust. At most DRI would have a percentage of undivided interest in the Trust, just like everyone else. So no, DRI can't take weeks from the Trust and add them to HGVC. The most that could happen is that the trust itself could swap some of its inventory for HGVC weeks, but I think that would require a change in the Trust documents, because the Trusts were set up to hold only Diamond weeks. Then there are the fiduciary obligations of the Trust manager to operate in accordance with the Trust and for the benefit of all owners of the Trust.
Yes, I believe so. You would have to enroll your week into HGVC. This could be (IMO), a very good option for you (but of course, we will need to see how this plays out). What are your current rights (Like, how/when do you book) as a legacy weeks owner?
We are not able to book online through the Diamond website, but have to call or email the KBC resort directly and request to book the week we want. Or if we want to exchange through Interval, we call/email the resort and ask them to deposit our week with Interval (they are not depositing a specific week in II, just our floating week, so I am not sure how it works behind the scenes in terms of what Interval gets.) We also have the option to deposit into DEX but have never voluntarily done so.
Well, I would wait until we see what happens first. If HGVC does allow you to enroll your week within HGVC (for probably a small fee), then discuss to see if it is a good option for you. I am very familiar (along with many others) with HGVC but honestly I don't know anything about DRI.
There is a substantial number of legacy owners (i.e., deeded week owners) at both of the old Embassy Properties, on Maui and Kauai. This includes people such as you who never joined the Sunterra/Diamond Club, as well as people like us who added our deeded week to the Club, but did not convert the week to an interest in the Hawaii Collection. I include those as legacy owners because those individuals are still the owners of the week.