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timeshare news Archives - Premier Timeshare Resale Blog

Diamond Resorts Announces Plans to Purchase Club Intrawest

By | Timeshares in the News | No Comments

Diamond Resorts International has announced that it has completed an agreement to purchase Intrawest Resort Club Group. Intrawest Resort Club Group manages Club Intrawest, a timeshare vacation club that consists of nine resorts throughout North America.
Diamond Resorts International already has more than 350 vacation destinations in 34

Vancouver, B.C.

Vancouver, B.C.

countries around the world. They will be adding Club Intrawest resorts located in Canada, California, Florida and Mexico to their network with this acquisition. The purchase is expected to be completed by the first quarter of 2016.
Club Intrawest is a unique timeshare company. They have kept their properties on the small side intentionally. The property
Whistler, B.C.

Whistler, B.C.

in Whistler, British Columbia is the largest at 113 vacation homes. But the average size is less than 60 vacation homes in a resort. The smallest resort is in Ucluelet (also in British Columbia, Canada) with only 10 vacation villas. Club Intrawest has also tried to stay away from a cookie-cutter approach to building their resorts. Each property boasts unique features that are not found in any other locations. In announcing the purchase, Tom Marano, Chief Executive Officer of Intrawest Resorts said, “We are excited to enter into this agreement and believe this is a strategic move for both the vacation club business and Intrawest.”
Diamond Resorts International also takes a points-based membership approach to timeshare ownership, offering destinations on six continents along with cruises. “We are acquiring a business with a very strong member base and a set of high quality resorts that will complement our portfolio, and we look forward to building a mutually beneficial relationship with Intrawest beyond this transaction,” said David Palmer, President and Chief Executive Officer, Diamond Resorts International.
OceanResearch suggests that people who regularly take vacations are happier, enjoy more fulfilling relationships and feel healthier than those who do not vacation on a regular basis. Whether you have been a long-time Club Intrawest or Diamond owner, or are interested in discovering more about the merging companies, now might be the time to consider vacation ownership so you too can benefit from regular time away.

Wyndham’s Margaritaville Resort Set to Open Next Month

By | Timeshares in the News | No Comments

st-thomasVery few things can top the refreshing sensation of a crisp margarita on a hot summer day. One thing that could, however, is sipping that sweet margarita on the beach in St. Thomas while staying in an entire luxury resort dedicated to your salty beverage.

Sound too good to be true? It isn’t. Wyndham Vacation Ownership announced this month that their Margaritaville resort will be ready for residents as early as mid-August.

Wyndham has partnered with Jimmy Buffet on the Margaritaville project, based in sunny Smith Bay in St. Thomas, Virgin Islands. Although the project has been in the works for some time, this month Wyndham announced that the resort will strictly be a timeshare resort, exclusively for Vacation Club owners.

cocktail-margaritaThe resort has 62 studio and studio deluxe unites, as well as eight presidential suites. Resort amenities include beach access in Water Bay, the 5 O’Clock Somewhere Bar, a beachside Margaritaville restaurant, water sports and more.

“Phase one units are receiving the finishing touches, like furnishings, electronics and decor,” said spokeswoman Lindsay Hodges in a recent interview. “Landscaping is about 80 percent complete.”

This project has been a long time coming. Wyndham St. Thomas Development LLC bought the property for $31 million back in 2007. But, it wasn’t until 2013 that the corporation announced it would partner with Jimmy Buffett to create this salty beach getaway.

Phase two should be completed in 2016 as part of a three-year plan that was decided when Buffett joined the project. All in all, the project is estimated to cost more than $100 million equaling 262 condo units for timeshare ownership.

margarita-islandThe first phase has focused on the 70 beachfront units, along with the pool, pool bar, restaurant, marketplace, front desk, dive shop, retail shop, fitness center, game room and on-site sales office.

The second phase will convert the hillside hotel rooms into the remaining condo units.

The property began with 290 hotel rooms and some original structures, but Wyndham is choosing to completely reconstruct some of the main buildings, as opposed to renovate them, to create a fresher, modern look for their guests.

Source: Virgin Islands Daily News

Starwood Vacation Ownership: New Branch Revealed

By | General Timeshare Information, Timeshares in the News | No Comments

seaside-resort-chairsAs we talked about in a previous blog, Starwood is making some changes to its structure and inventory. Adding new resorts and expanding their vacation ownership division were big announcements in March, and we’ve been eagerly awaiting more information about these exciting opportunities since.

Well, the wait is (somewhat) over. On Tuesday, Starwood gave us a tantalizing taste of their newest spinoff: Vistana Signature Experiences Inc., which is set to be completed by fourth-quarter 2015, said a news release.

VSE (an acronym of my own design) will be a publicly traded company.

“Today’s filing is a pivotal step toward the planned spin-off of our vacation ownership business, which will allow us to continue participating in the timeshare industry while seeking to create stockholder value for both companies,” said Adam Aron, Starwood’s interim CEO, in a prepared statement on Tuesday.

Summer-bathers-umbrellasThe Starwood spinoff will continue to develop and operate Starwood’s 22 timeshare resorts, including vacation destinations such as Hawaii, Orlando, Mexico and the Caribbean, as well as additional anticipated locations at Westin Los Cabos, Westin Cancun, Westin Puerto Vallarta, Sheraton Kauai, and Sheraton Steamboat-owned properties Starwood expects to transfer.

We plan to follow VSE and Starwood as these resort powerhouses continue to grow. This branch is, if anything, a testament to the growing industry that is vacation ownership.

Are you already on board? Or is it time for you to invest the most valuable thing of all, getaways and quality time?

Everyone and Their Mother

By | General Timeshare Information, PTR's Time to Share | No Comments

Convicted felon Joey Cigars and his mother have been accused of fraud due to their recent involvement in yet another timeshare fraud, this time in Fort Lauderdale, Florida. Cigars reportedly ran the day to day operations of Timeshare Mega Media and Marketing Group, a company that reportedly made over $4 million in illegal profits. Telemarketers would talk to cash-strapped timeshare owners and pressure them to send money to secure fraudulent deals with nonexistent buyers, and then leave the sellers hanging.

 

Cigars allegedly also hired employees and intimidated them with threats of organized crime to keep them quiet. over 26 employees of the company have been located and most have confessed and cut plea deals. The company operated from October 2009 to May 2010, the hotspot for timeshare fraud in the state. The Florida Attorney General’s Office received 12,257 timeshare resale complaints in 2010 alone, and more fraudulent companies are being located everyday. Be safe, be happy, and sell your timeshare with Premier TimeShare Resale!

If you’re interested in buying or selling a timeshare, contact our licensed real estate professionals at 888-235-0466 or visit our website for more information:

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