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Due to the chaos in summer travel and cancellations, timeshare owners are having a difficult time controlling their finances and staff. Tourism has had a difficult two years. Timeshare owners are anticipating another disappointing summer. Even loyal members are having to cancel their vacation plans due to over bookings, bankrupt resorts and flight cancellations. For…
Diamond Resorts and Its Perpetual Mortgage Machine by Roddy Boyd, The Foundation for Financial Journalism Since 2007 the website of Diamond Resorts International has made people think their personal six-night stay in heaven is only a few clicks away. Online the company’s resorts, full of beaches and golf courses, still beckon. But Diamond is a…
Hilton Grand Vacations Inc. (Hilton) and its board of directors have been hit with a lawsuit for allegedly lying to shareholders and misleading them in the company’s acquisition of Diamond Resorts. The lawsuit was filed on May 7 in New York by lead Plaintiff Marina Clough, who alleges that the company and its board have…
Summer Bay Contract Cancellation For years now Summer Bay has neglected to disclose the sink holes littering the Summer Bay property. This has caused massive reductions in value for each owner averaging $60,000 in property loss. With most of the contracts selling at $15,000-$20,000 having a $60,000 loss puts the timeshare at a negative number….