Diamond Resorts International Stephan J. Cloobeck, CEO Improper Business Practices through lack of necessary/timely communication and information Las

1st of Jan, 2012 by User275066

Diamond Resorts International (DRI), the developer and management company overseeing the Point of Poipu Resort in Poipu, HI and also the Hawaii Collection resorts, consisting of Timeshare Properties in Poipu, HI (Kauai), Lahaina (Maui), HI, Sedona Summit, Sedona, AZ, and Polo Towers in Las Vegas, NV. Most recently (Oct 2011), DRI is forcing the deeded owners of Poipu and Points Owners in the Hawaii Collection to pay (mandatory assessment) of a $ 65 million dollar water intrusion issue/problem at the Point of Poipu Resort. Previous to October 2011, there was no previous notice to owners of this upcoming assessment, either through normal mailings or email advisements to owners. I have invested over $ 50,000 in purchases since 1996, not including annual maintenance cosst that have exceeded $ 25,000 since my initial investment. In April of this past year they again sold me additional "points" in their Hawaii Collection ($ 17K+) with no mention of the impending water intrusion issue they would be charging the deeded or Hawaii Collection Points Owners. Deeded Owners are forced to pay nearly $ 6,000 for each deeded week, and Hawaii Collection Points owners are charged $ 17 for every point they have in the Hawaii Collection (10,000 points = $ 1,700). If I would have been advised in April or before I would have not invested additional money into this company (DRI). DRI controls the Point of Poipu warter intrusion assessment plan by having 2/3 of the Board Members consisting of employees or family of employees. If the deeded owners do not pay the mandatory assessment in the time frame they have designated (by January 31, 2012), we will lose our deeds to foreclosure proccedings by DRI, and have our credit ratings ruined. DRI will not share information that the owners would like to see, allowing DRI to completely control the assessment with no proper oversight. For much more information on this very unethical situation, please go to following Facebook link that represents the Concerned Owners of Poipu Point. It will provide additional perspective on this dilemma. https://www.facebook.com/#!/pointatpoipu

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