Open Letter to Steve Cloobeck, Diamond Resorts International CEO

Forum: Timeshare Companies

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By robertr558

Open Letter to Steve Cloobeck, Diamond Resorts International CEO

davidk689 wrote:
Poor, deluded Raymond Gonzalez Jr. I pray that he finds a way to get a grip on reality if he really thinks SC is an admirable businessman who will gove him a job, read this forum, or send him a personal email response to his posting here. We should all pray for him, bit it would probably be as much an exercise in futility as expecting to be treated honestly and ethically by anyone in the timeshare business...

Come on David, did you not see Steve's episode of Undercover Boss? ;-)

Avatar for robertr558 robertr558

2 years ago
Apr 05, 2015

Message deleted.

Last edit by thomasv106 on May 05, 2015 12:31 PM.

Avatar for thomasv106 thomasv106

2 years ago
May 05, 2015

By donp196

NEVER pay an attorney who claims they can get you our of your timeshare. It's the newest SCAM !! All they want is your upfront money and then they will tell you that they tried and there goes your hard earned money.

Avatar for donp196 donp196

2 years ago
May 05, 2015

By danielc439

If anyone has the info on how to be included in the class action lawsuit I would appreciate sending it to me

Avatar for danielc439 danielc439

2 years ago
Sep 10, 2015

By jeff_reports
RedWeek.com Team

Hello, to best our knowledge at RedWeek.com, there is no current class action lawsuit pending against Diamond. There was one several years ago, but it was settled in 2012 regarding a dispute at their Poipu Point resort over a severe increase in maintenance fees (more than $5000 per owner) that was designed to cover repairs due to water intrusion on many buildings at the resort. The settlement papers are readily available online for that case.

If there is a new action about or against Diamond, please let us know.

Avatar for jeff_reports jeff_reports
RedWeek.com Team

2 years ago
Sep 11, 2015

By mariab418

Good Afternoon,

Dear Mr. Cloobeck I am a time share owner with Mystic Dunes for over ten years. In my last stay I was over charged 105.00 for supposedly leaving the place dirty. I have never encountered such accusations. I did not leave the place filthy and I have been trying to resolve this issue. I have left several messages time after time and no manager ever returns my call. I am very disappointed and feel the need to bring this to your attention.

Thank you, Maria Baltazar

Avatar for mariab418 mariab418

2 years ago
Sep 23, 2015

By davidk689

mariab418 wrote:
Good Afternoon,

Dear Mr. Cloobeck I am a time share owner with Mystic Dunes for over ten years. In my last stay I was over charged 105.00 for supposedly leaving the place dirty. I have never encountered such accusations. I did not leave the place filthy and I have been trying to resolve this issue. I have left several messages time after time and no manager ever returns my call. I am very disappointed and feel the need to bring this to your attention.

Thank you, Maria Baltazar

Maria Baltazar -- If you really think that Steve Cloobeck reads this I would be glad to sell you the Booklyn Bridge for $10 bucks.

Even he did read it do you actually think he cares? Did you watch that Undercover Boss show and were gullible enough to believe he cares about anything other than separating you from your money?

Get real lady. Your best chance of resolving this is to call Diamond directly and find out who is the person who is responsible for supervising the site managers in the region where your resort is located. Also -- the next time you go to that place take 10 seconds to get out your cell phone and take a picture of how you left it -- that way if they are making false accusations you can prove it, as well as threaten to take them to small claims court if they bill you.

I never cease to be amazed at how naive some people are.

Avatar for davidk689 davidk689

2 years ago
Sep 23, 2015

By robertr558

Perhaps it is naive but it is also innocent and sweet. She wrote such a nice, polite message to Mr. Cloobeck. At least it is another public record that could reach the innocents who have not yet been victimized by a timeshare company.

Avatar for robertr558 robertr558

2 years ago
Sep 24, 2015

By robertd992

Has anyone read the resume for those wishing to be Board Members of Diamond Resort? They all say they want to reduce the maintenance fee and reduce cost. But not one stated that they would initiate action to let the property owners (time share) sell their ownership back to Diamond. Diamond representatives are constantly saying that the number of points are limited and in great demand. If they would even offer to buy back at 50% of the owners' value they would make a huge profit and the potential buyers would be encouraged.

It is a scam when they say the available shares are very limited. They obviously have a huge inventory of unsold property if they refuse to allow owners to sell their shares back to the Company.

Robert

Avatar for robertd992 robertd992

2 years ago
Sep 24, 2015

By robertd992

Me too

Robert Degraca

Avatar for robertd992 robertd992

2 years ago
Sep 24, 2015

By robertd992

When will you do the ethical thing and buy back the shares of those who want out of the time share plan? Even if you pay these individuals 50% of their value you would be making a huge profit when these are resold.

Robert

Avatar for robertd992 robertd992

2 years ago
Sep 24, 2015

By charless345

If you go to TUG, you will find that DRI has been taking back timeshare points. Go to tug2.net and read. There are many who have verified that DRI has been letting people out of their timeshare interests.

I think the owner has to not have any loans on the points and must pay a $250 fee, but DRI has been taking them back.

robertd992 wrote:
When will you do the ethical thing and buy back the shares of those who want out of the time share plan? Even if you pay these individuals 50% of their value you would be making a huge profit when these are resold.

Robert

Avatar for charless345 charless345

2 years ago
Sep 24, 2015

By jeff_reports
RedWeek.com Team

Urge all Diamond owners to read quarterly reports filed by Diamond with SEC, and also to listen to CEO David Palmer discuss Diamond business returns on quarterly conference calls. They are all open to the public.s Bottom line, you will discover that Diamond focuses on several ways to increase profits, and raising maintenance fees is not the primary vehicle. First, they buy back lots of inventory at favored resorts thru foreclosure and/or tax sales. That is how they replenish their own pipeline. On average, Diamond pays $1500 per timeshare interval, then resells it for close to $20K. That's an amazing profit. Secondly, they make good ongoing revenue by managing properties, charging a 15 percent fee of all revenues collected during the year. The 15% is also pure profit, according to Diamond's quarterly and annual reports. Third, they make major league money every time they sell a new timeshare package of points to new or repeat buyers. Last presentation I attended, July 2015 in Maui, points were selling for more than $10 per point. Couple years ago, the same points cost $3 each. So the price inflation on points is also giving Diamond a huge increase in profit and revenue. All of the above info is included in Diamond's own reports on their "investors page" on diamondresorts.com.

Finally, Palmer replaced Cloobeck as CEO in January when Diamond bought out Cloobeck while allowing him to remain on board for two more years. He no longer runs Diamond, but, like many former CEO's, is still getting paid like a king.

Avatar for jeff_reports jeff_reports
RedWeek.com Team

2 years ago
Sep 25, 2015

By davidk689

robertd992 wrote:
When will you do the ethical thing and buy back the shares of those who want out of the time share plan? Even if you pay these individuals 50% of their value you would be making a huge profit when these are resold.

Robert

Robert: "50% of value" ? What value. If people cannot even give them away then the value is zero, and unless you skipped basic arithmetic in grade school 50% of zero is still zero

Avatar for davidk689 davidk689

2 years ago
Sep 25, 2015

By terryf174

Mr Cloobeck, My name is Terry Farris.. I own 3 timeshares, which were purchased.at Grand Beach, Orkando, Florida.... I have contacted them numerous times and have yet to get a reply from them. My timeshares are paid for , but if I want to sell them , I have purchase something else from you for 35,000.00 I want to sell them , not reinvest more money...I've been told that I can not sell them because they are deeded property. .. My husband and I purchased the properties and now my husband has passed away, and I want to sell the properties. .. Every time I call to speak with someone I am sent to their voice mail, and I leave my message for them to return my call before I go to work...WELL.. it never happens. .... I am tired of dealing with this....I want to sell the units and be rid of my headache. .... I'm sure that this will go unanswered also.... It seems that all anyone with the company cares about is how much money they can get from you...No one tries to help you..... Thank you, Terry Farris.

Avatar for terryf174 terryf174

1 year ago
Nov 13, 2015

By davidk689

Terry -- The likelihood that Steve Cloobeck or anyone from DRI reads or even monitors this discussion is between zero and zero. Even if they did I would give the same odds about their having any interest in helping you.

In order to sell something it must have a value. The value of your timeshare is zero. If you've read any of the numerous related discussions on RedWeek you would have noticed that people are unable to even give away their timeshares. Why is this? Simple: no one in their right mind wants to be contractually obligated to pay whatever maintenance fees and special assessments DRI (or any other timeshare management company) deems necessary (solely at their own discretion) for the rest of their life, whether they use it or not.

The best you or anyone can do is to send a certified letter to your homeowner association informing them that you do not intend to either use your timeshare or pay the annual maintenance fees from this time forward, and that they can either take the deed back from you or spend a lot of money on attorney fees trying to collect from you. This has worked for some people, but not all.

Don't be so naive as to think that anyone in the timeshare/"vacation ownership" industry cares about anything other than squeezing more money out of you -- least of all Steve Cloobeck.

terryf174 wrote:
Mr Cloobeck, My name is Terry Farris.. I own 3 timeshares, which were purchased.at Grand Beach, Orkando, Florida.... I have contacted them numerous times and have yet to get a reply from them. My timeshares are paid for , but if I want to sell them , I have purchase something else from you for 35,000.00 I want to sell them , not reinvest more money...I've been told that I can not sell them because they are deeded property. .. My husband and I purchased the properties and now my husband has passed away, and I want to sell the properties. .. Every time I call to speak with someone I am sent to their voice mail, and I leave my message for them to return my call before I go to work...WELL.. it never happens. .... I am tired of dealing with this....I want to sell the units and be rid of my headache. .... I'm sure that this will go unanswered also.... It seems that all anyone with the company cares about is how much money they can get from you...No one tries to help you..... Thank you, Terry Farris.

Avatar for davidk689 davidk689

1 year ago
Nov 13, 2015

By roberts985

Hi Terry,

It sounds like your best options would be to either sell the timeshares here on RedWeek or on EBay, or to seek counsel to give the timeshares back.

Check out Timeshare Exit Team at timeshareexitteam.com. I have not used them personally, but their services are endorsed by people I have trust and respect for (Dave Ramsey, who hates timeshares, Ben Schapiro, Glenn Beck, and more).

Timeshare Exit Team is not a reseller or listing company (most of those are scams). They are a law firm that works to have the management companies take back your ownership points. If I were stuck with a timeshare that I no longer wanted and couldn't sell, that's the company I would be calling.

Robert Slattery

terryf174 wrote:
Mr Cloobeck, My name is Terry Farris.. I own 3 timeshares, which were purchased.at Grand Beach, Orkando, Florida.... I have contacted them numerous times and have yet to get a reply from them. My timeshares are paid for , but if I want to sell them , I have purchase something else from you for 35,000.00 I want to sell them , not reinvest more money...I've been told that I can not sell them because they are deeded property. .. My husband and I purchased the properties and now my husband has passed away, and I want to sell the properties. .. Every time I call to speak with someone I am sent to their voice mail, and I leave my message for them to return my call before I go to work...WELL.. it never happens. .... I am tired of dealing with this....I want to sell the units and be rid of my headache. .... I'm sure that this will go unanswered also.... It seems that all anyone with the company cares about is how much money they can get from you...No one tries to help you..... Thank you, Terry Farris.

Avatar for roberts985 roberts985

1 year ago
Nov 15, 2015

By robertr558

jeff_reports wrote:
Urge all Diamond owners to read quarterly reports filed by Diamond with SEC, and also to listen to CEO David Palmer discuss Diamond business returns on quarterly conference calls. They are all open to the public.s Bottom line, you will discover that Diamond focuses on several ways to increase profits, and raising maintenance fees is not the primary vehicle. First, they buy back lots of inventory at favored resorts thru foreclosure and/or tax sales. That is how they replenish their own pipeline. On average, Diamond pays $1500 per timeshare interval, then resells it for close to $20K. That's an amazing profit. Secondly, they make good ongoing revenue by managing properties, charging a 15 percent fee of all revenues collected during the year. The 15% is also pure profit, according to Diamond's quarterly and annual reports. Third, they make major league money every time they sell a new timeshare package of points to new or repeat buyers. Last presentation I attended, July 2015 in Maui, points were selling for more than $10 per point. Couple years ago, the same points cost $3 each. So the price inflation on points is also giving Diamond a huge increase in profit and revenue. All of the above info is included in Diamond's own reports on their "investors page" on diamondresorts.com.

Finally, Palmer replaced Cloobeck as CEO in January when Diamond bought out Cloobeck while allowing him to remain on board for two more years. He no longer runs Diamond, but, like many former CEO's, is still getting paid like a king.

Thank you for this very informative post. What a racket. Raise the maintenance fees until the owner walks away, then buy it back cheap and resell to another sucker.

Avatar for robertr558 robertr558

1 year ago
Nov 15, 2015

By davidk689

@Robert Slattery: I suspect strongly that you just a shill for timeshareexitteam.com. They don't do anything that one can't do oneself, except take some money from you upfront.

As for endorsements by the likes of Glenn Beck, that clown (literally) has been pushing shady investments like gold for years. How is that working out for you? Read the article "Spam Artists" in the Dec 2015 issue of Mother Jones and learn how paranoid right-wing talk radio hosts push phony health tips and bogus investment advice to their constituency.

roberts985 wrote:
Hi Terry,

It sounds like your best options would be to either sell the timeshares here on RedWeek or on EBay, or to seek counsel to give the timeshares back.

Check out Timeshare Exit Team at timeshareexitteam.com. I have not used them personally, but their services are endorsed by people I have trust and respect for (Dave Ramsey, who hates timeshares, Ben Schapiro, Glenn Beck, and more).

Timeshare Exit Team is not a reseller or listing company (most of those are scams). They are a law firm that works to have the management companies take back your ownership points. If I were stuck with a timeshare that I no longer wanted and couldn't sell, that's the company I would be calling.

Robert Slattery

terryf174 wrote:
Mr Cloobeck, My name is Terry Farris.. I own 3 timeshares, which were purchased.at Grand Beach, Orkando, Florida.... I have contacted them numerous times and have yet to get a reply from them. My timeshares are paid for , but if I want to sell them , I have purchase something else from you for 35,000.00 I want to sell them , not reinvest more money...I've been told that I can not sell them because they are deeded property. .. My husband and I purchased the properties and now my husband has passed away, and I want to sell the properties. .. Every time I call to speak with someone I am sent to their voice mail, and I leave my message for them to return my call before I go to work...WELL.. it never happens. .... I am tired of dealing with this....I want to sell the units and be rid of my headache. .... I'm sure that this will go unanswered also.... It seems that all anyone with the company cares about is how much money they can get from you...No one tries to help you..... Thank you, Terry Farris.

Avatar for davidk689 davidk689

1 year ago
Nov 15, 2015

Message deleted.

Avatar for mauriziop mauriziop

1 year ago
Nov 23, 2015

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