Saturday, November 17, 2007

Name Change

I have had a lot of members asking me why the name change to "Diamond Resorts International European Collection Ltd" as it is a bit of a mouthful compared to "Club Sunterra Ltd"! I must admit I was confused too so you aren't alone!

I emailed Stephen Cloobeck and got a reply followed by a phone call explaining the rational and as it has all become clear to me now so I thought I would share the information with you.

It seems that in the Sunterra days the legal name of the portfolio of European resorts and the members club were the same "Club Sunterra". This is no longer going to be the case, in future the name of the company world wide is and will continue to be Diamond Resorts International, the Club Sunterra that was the members club is in future just going to be known as "The Club" and it will be one club for the whole world with points being interchangeable both here and in the US, Hawaii etc, there won't be a difference between us and the US members as there is at the moment, all members worldwide will have the same access to availability as every other member!

Because we have previously been LSI, GVC, Sunterra back to GVC and then Sunterra again, and because we have grown by the acquisition of Global Vacation Club and Thurnham Vacation Club the company has become extremely unwieldy and operated in a completely different way to the way the US club worked. What Stephen is doing is removing all the unnecessary baggage and streamlining things so that the whole of Diamond Resorts International will be one company with one points club.

The change from "Club Sunterra" to "Diamond resorts international European Collection Ltd" is just the legal "Trust" name of the company that holds all the European resorts, there is also the US Collection, the Californian Collection and the Hawaiian collection. None of these will be used for commercial purposes they are just the legal "Trust" names of the various regional portfolios of resorts.

We will continue to pay our management fees based on the European resorts and the US members will pay the fees for their resorts but there will be no difference between when it comes to what we can book. This is coming soon but not here yet, an awful lot of work is going on in the background including a global website for all members of "The Club" with global availability!

I hope this has helped remove some of the confusion, it is obviously different to the past but it sounds like it is going to be a lot better in the near future!

1 comment:

purefct said...

Can anyone buy and use the European Contracts? I assume if someone located in the USA bout one of these vontracts, they would either have to use their points in Europe only, or pay Diamond to get the resale purchase back into Club in order to use the points at all resorts, yes?