Diamond Resorts Investing in St. Louis.
Diamond Resorts is turning a hotel in St Louis into a timeshare destination. Diamond has purchased six floors of the 29 storey City Place Hotel and will convert the six floors into luxury timeshare apartments. Once the redesign is complete in 2020, City Place Tower will be Diamond’s flagship urban destination.
Michael Flaskey, chief executive officer of Diamond Resorts, said: “St. Louis is a new market for the industry and we are proud that Diamond Resorts will be the only company offering vacation ownership accommodations for the millions of families who explore St. Louis each year”.
While the majority of timeshares are found in beach locations, some timeshare resorts have been branching out into major cities, like New York, Boston, San Francisco, London, Hong Kong and the list goes on. This may be in response to the growing popularity of home share rentals like Airbnb and the foresight of resorts in recognising how holidaymakers want to spend their vacations. Diamond is not alone in expanding its timeshare offerings to big cities, Hilton Vacations, Marriott, Westgate and Bluegreen Vacations, all now offer urban destinations to their members.
As the timeshare market continues to struggle with its bad reputation and endless legal battles, it is inevitable that timeshare vacation clubs look at the next generation of owners. By introducing new and exciting vacation experiences, they may be able to attract millennials who are probably already very familiar with brands such as Airbnb.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with Timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advise and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Timeshare Termination.