Global hospitality and vacation ownership company recognizes timeshare resale opportunities

Diamond Resorts International® (DRI), a global leader in the hospitality and vacation ownership industries, has today announced it is working closely with its European membership who have authorized a third party reseller, Travel & Leisure Group (TLG), to act as reseller for Diamond Resorts European Collection (DREC) points. This is the first time DREC members have had the opportunity to deal directly with an authorized reseller.

Travel & Leisure Group International Timeshare Resale Brokerage, is a family owned company working closely with developers and helping owners to sell their timeshare and buyers to make the right choice when it comes to vacation holiday ownership. A financially sound international timeshare company, TLG have steadily consolidated and expanded their business throughout the world, and says Maria Mills-Farinas, Managing Director of TLG, “we are delighted to be able to offer the consumer this new opportunity and to assist Diamond Resorts European Collection members with a never before offered opportunity as well as a reputable partner and process. Many of the members have been with Diamond for a very long time and it’s time for them to let someone else enjoy what they have for so many years. And we are glad to be a part of that process, to help them find an alternative.”

DRI is also exploring alternative pathways for its points members in North America. According to Stephen J. Cloobeck, Chairman and Chief Executive Officer, Diamond Resorts International®, “The U.S. market is over-saturated with resale companies. Just turn on any cable television station and you can hear the enticing ads. We owe it to our members to provide them with the due diligence to explore the best possible resale opportunities available, if they exist, so we will take the time to monitor our European business model with a single authorized reseller and see if that transposes in the U.S. and adheres to state regulations, our club constitutions and our home owners associations.”

Diamond Resorts International® continues to expand and seek efficiencies in all facets of its operations. Now, more than ever before, DRI is helping families enjoy the benefits of vacation ownership and the importance of spending time with each other.

Annually, nearly 1.4 million owners, members and guests enjoy the simplicity, choice and comfort Diamond Resorts International® offers through our branded hospitality experience.

Diamond Resorts International®, with global headquarters in Las Vegas, Nev., is one of the largest vacation ownership companies in the world with more than 160 branded and affiliated resorts and over 24,000 guest beds in 26 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa. Offering simplicity, choice and comfort to more than 400,000 owners and members through the branded hospitality service of more than 5,500 team members worldwide, Diamond Resorts International® is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime. To learn more, visit DiamondResorts.com.

Occupancy, Satisfaction Rates Remain Strong

Despite tighter credit markets and high unemployment rates, the U.S. timeshare industry continues to demonstrate its resilience.

Although overall sales continue to reflect the national trend of lower consumer spending, timeshare owners continue to enjoy their pre-paid timeshare vacations, with an 80 percent occupancy rate and an 86 percent product approval rate. This compares with a 60.4 percent hotel occupancy rate, according to Smith Travel Research.

“The downturn in our economy has hit the tourism industry particularly hard; the timeshare segment, however, due in part to its pre-paid nature, is better equipped than most to weather a downturn,” said Howard Nusbaum, president and CEO of the American Resort Development Association (ARDA). “The good news is that timeshare owners are still vacationing, and occupancy remains strong. Coupled with our industry’s emphasis on new efficiencies and improvements to our business model, we will come through the current downturn and be ready to meet the expectations of customers.”

Preliminary 2009 second quarter research indicates that nine out of 10 owners were current on monthly payments, a .2 percent increase over the preceding quarter. Sales efficiencies have improved, as measured by Volume Per Guest (VPG) of $2,043 that was up by two percent from the previous quarter level.
In addition, use of exchange options that offer timeshare owners the ability to trade resort destinations other than those of their “home resort” location are also strong, demonstrating that owners continue to enjoy their timeshares.

Several leading timeshare developers agree with Nusbaum’s outlook.
“We’ve had the best summer on record, and sales continue to be robust. Just because the economy has slowed doesn’t mean we have stopped doing what we do—we’ve taken a closer look at how we can refine our processes and products to deliver memorable vacations that families want to come back to year after year,” said Don Harrill, president and CEO of Holiday Inn Club Vacations.

“At Disney, we have confidence in vacation ownership. In fact, we’re enlarging our footprint outside of the Orlando area by the opening of our newest resort in California and developing one in Hawaii,” added James M. Lewis, president of Disney Vacation Club.

Sergio Rivera, CEO for Starwood Vacation Ownership said, “Closing rates have held up better than expected given the discretionary nature of the product. This supports our belief that consumer dynamics will be strong over the long run.”

This comes as no surprise to David Palmer, CFO of Diamond Resorts International. “Our closing rates this year are identical to those last year, and our collections remain strong. Additionally, our diversified cash flow business model has allowed us to substantially decrease our reliance on the capital markets.”
Most developers report that decreased sales, in part, are a result of purposely slowed sales to maintain a healthy cash flow during the tightened credit market environment. In addition, the industry expects to limit new construction until inventory levels are reduced.

“An increase in volume aided by improving consumer sentiment and recovering capital markets will accelerate absorption,” said Nusbaum. “Most of all, demographics are on our side, with baby boomers and succeeding generations eager to purchase a piece of flexible vacation real estate, allowing them the better vacationing and the undeniable value proposition that timeshare offers. Our industry is primed to fulfill the increased consumer demand for quality vacation experiences.”

The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). For more information, visit www.arda.org or ARDA’s consumer website at www.VacationBetter.org.

Year of the Customer Initiative Gets Boost from Cloobeck’s ‘The Meaning of Yes(SM)’

Diamond Resorts International® (DRI), a global leader in the vacation holiday ownership industry, sets itself apart during this economy with its company-wide commitment to provide customers with service excellence through its corporate ideology of ‘The Meaning of Yes(SM).’

Stephen J. Cloobeck, Chairman and Chief Executive Officer, today announced “While other hospitality and travel companies are abiding by, what some in these industries refer to as, ‘a post 9-11, no waivers, no favors’ philosophy, DRI continues to strengthen its commitment to providing customers with service excellence through ‘The Meaning of Yes.’ We continue to position DRI apart from our competitors in two very different, but most important, functional aspects by first bringing the component of hospitality to the timeshare industry and secondly by servicing our customers by saying yes.”

Recognizing that building lasting customer relationships is significant to the short-term growth and long-term health of Diamond Resorts International®, Cloobeck developed The Meaning of Yes as a fundamental ideology for the company’s workforce.

According to Cloobeck’s The Meaning of Yes – Any successful business builds customer value through trust-based products and purposeful relationship management and at DRI, we continue to deliver on our promise of growth for THE Club® product through expanded member benefits and resort affiliations. Specifically, our customers continue to ask for more exchange and points-redemption opportunities as well as more resort locations and we continue to steadily build the most sought-after vacation ownership and holiday membership product available in the marketplace today. “Quite simply,” implores Cloobeck, “we continue to say yes to our customers.”

“As a company,” continues Cloobeck, “we share mutual interest with our customers in each other’s success – our customers want us to succeed and we in turn want them to trust in us to deliver on our promise to them. In effect, we are collectively saying yes to each other.”

As hotels and other timeshare companies limit customer benefits and, in effect, shorten the quality of the stay, DRI is bridging communication and service gaps between resorts, customers and corporate. Launching educational enrichment seminars at resort locations in the UK and in the States, DRI invites members to half-day seminars to learn more about the product and the company so that both can better serve each other. Members get updates on new tools available for them to further enjoy their vacation lifestyle product and the company benefits by receiving instant feedback about what they are doing right and what needs improvement.

Annually, nearly 1.4 million owners, members and guests enjoy the simplicity, choice and comfort Diamond Resorts International® offers through its branded hospitality experience. Says Cloobeck, “At DRI, it doesn’t make a difference what the customer asks; the answer is still yes. We work hand-in-hand with all of our divisions to create a positive customer experience. We collectively deliver the meaning of yes, and it starts with the chairman of the company. The meaning of yes is what defines our success.”

Diamond Resorts International®, with global headquarters in Las Vegas, Nev., is one of the largest vacation ownership companies in the world with more than 160 branded and affiliated resorts and over 24,000 guest beds in 26 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa. Offering simplicity, choice and comfort to more than 400,000 owners and members through the branded hospitality service of more than 5,500 team members worldwide, Diamond Resorts International® is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime. To learn more, visit www.DiamondResorts.com.

Cloobeck’s global expertise and national presence make him uniquely qualified to lead NVCI

Stephen J. Cloobeck, Chairman and Chief Executive Officer of Diamond Resorts International® (DRI), has been elected as Chairman of the Board for the Nevada Cancer Institute (NVCI) effective July 1, 2009. Cloobeck succeeds founding Chairman of the Board, Heather Murren, who served as the Institute’s only chairman since NVCI was founded eight years ago.

John C. Ruckdeschel, M.D., NVCI director and CEO, said “I’ve watched Heather build up the Institute from our very first day. She has done a remarkable job and has achieved so much in such a short time. On behalf of the Institute, I thank Heather for her leadership and vision, and I look forward to working with Stephen and continuing the mission of NVCI by taking the Institute to the next level of research and care.”

Nevada Cancer Institute (NVCI) is the official cancer institute for the State of Nevada. A nonprofit organization, NVCI is committed to reducing the burden of cancer by pursuing the development of a comprehensive cancer research institute, as defined by the National Cancer Institute. Through the knowledge and expertise of the finest scientists, clinicians, educators and caregivers, the Institute provides hope to communities in Nevada, the southwest and beyond through research, education, early detection, prevention and high quality patient care. NVCI is striving for a future without cancer that is achieved through initiated and collaborative research in basic, clinical and population science. Learn more. www.nevadacancerinstitute.org.

Outgoing Chairman Heather Murren stated recently, “I am very proud and touched to be able to entrust my duties as chairman to someone as dedicated to the mission of the NVCI as Stephen. He is not only passionately committed to serving those in our community touched by cancer but also to advancing science and finding a cure.”

Having served as a member of the NVCI Board of Directors since 2003, Stephen J. Cloobeck is also a member of its executive committee and has chaired NVCI’s buildings and grounds committee and is a founder and ongoing philanthropic supporter of the Institute. Additionally, Mr. Cloobeck has served as a member of the American Resort Development Association (ARDA) and is active in a wide range of community affairs on the local, state and national levels. He is a founder of the Brent Shapiro Foundation for Drug Awareness and recently concluded his service on the Board of Directors of the Hebrew Academy. He also works with many charities and civic organizations, including the Prostate Cancer Foundation, Kids Charities.org, the Police Athletic League, Boy Scouts of America, Inner City Games, Alzheimer’s Association, Andre Agassi Charitable Foundation and Autism Speaks, as well as numerous regional organizations.

“Just as Diamond Resorts International® is committed to providing its owners, members and guest with simplicity, choice and comfort on a global scale, I am honored to share my financial expertise, international business development success and organizational leadership qualities with NVCI to further their collective commitment to supporting research to find a cure for cancer and with reaching its goal of becoming a national center of excellence,” says Cloobeck.

About DRI

Diamond Resorts International®, with global headquarters in Las Vegas, Nev., is one of the largest vacation ownership companies in the world with nearly 150 branded and affiliated resorts and more than 23,000 guest beds in 21 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa. Offering simplicity, choice and comfort to more than 380,000 owners and members through the branded hospitality service of more than 5,500 team members worldwide, Diamond Resorts International® is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime. To learn more, visit DiamondResorts.com.

DRI Continues to Add Affiliations with Increased Canal Boat Excursions throughout Great Britain

DIAMOND RESORTS INTERNATIONAL® (DRI), a global leader in the vacation ownership industry, has expanded operations into County Clare, Ireland, and added a variety of resort destinations in Asia including China, Thailand, Bali, Indonesia and the popular coastal region of Goa, India, along the Arabian Sea. Additionally, resort destinations now include Queensland and New South Wales, Australia, as well as new waterway routes for canal boat journeys throughout Great Britain.

The DRI destination portfolio has expanded its global footprint with three resort acquisitions situated among the castles and cliffs of County Clare, Ireland. Cottages dot the Atlantic Coast against calming inlets teeming with quaint shops and pubs and provide easy access to a variety of golf and sightseeing choices. On the continent of Asia, DRI has added 14 resort affiliations. Destinations throughout Thailand and Bali provide customers with a variety of experiences including secluded beach getaways, enchanting spa retreats and the hospitable taste of Indonesia. In Beijing, China, members can stay just five blocks from historic Tiananmen Square. Additionally, DRI now offers three resort choices along the Arabian Sea in the tropical zone of Goa, India.
Visitors to awe-inspiring Australia can choose from three resort destinations: overlooking the ever-popular Coolangatta Beach; enjoying easy access to the Great Barrier Reef; or staying on the famed Gold Coast–most notably a surfer’s paradise.

“Our owners, members and guests continue to express interest in having more destination choices,”says Simon Crawford-Welch, Ph.D., RRP, President and Chief Operating Officer, “and at Diamond Resorts International®, we’re listening to our customers and taking action to ensure they are getting what they want and moreover, what they deserve from a vacation ownership company.”

Committed to providing owners, members and guests with the simplicity, choice and comfort they deserve, DRI has poised itself as a competitive worldwide hospitality brand. Key strategic components that continue to position DRI as a leader in the vacation ownership and hospitality industries include an open communications platform and transparent organizational structure, centralized and consolidated efficiencies, the ongoing interaction of an Owner Advisory Board and a hands-on executive management approach where leadership is empowered to ensure the delivery of branded hospitality service.

THE ClubSM at DRI is a flexible, points-based exchange program that provides members with resort stays, travel services including cruises, air mileage programs, flights, and a variety of additional benefits, products and discounts. “While many companies are downsizing and cutting back during these challenging times, Diamond Resorts International® continues to expand and seek efficiencies in all facets of its operations,”Crawford-Welch says. “Now, more than ever before, DRI is helping families enjoy the benefits of vacation ownership and the importance of spending time with each other.”

Diamond Resorts International®, with global headquarters in Las Vegas, Nev., is one of the largest vacation ownership companies in the world with nearly 150 branded and affiliated resorts and more than 23,000 guest beds in 21 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia and Australia. Offering simplicity, choice and comfort to more than 380,000 owners and members through the branded hospitality service of more than 5,500 team members worldwide, Diamond Resorts International® is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime. To learn more, visit DiamondResorts.com.