Divi Tiara Status?

[billinwilliamston]

You would likely be successful in obtaining the necessary Local Companies Control Licence (allowing for 40% or greater non-Caymanian ownership) if you wanted to buy it.

Think they would take $500 U.S. down on a land contract?

 

[nipi]

For the Divi they'd take anything at the moment.

 

[-hh]

For the Divi they'd take anything at the moment.

Its been interesting to watch the train-wreck that Divi has made for themselves.

Disclaimer: I'm a timeshare owner at the Divi Tiara

IMO, Divi is going to be stupid and burn more bridges in their attempt to try to squeeze every possible penny out of whoever's thinking about buying, because they need the cash for other projects.

For example, Divi is trying to replace the Divi Flamingo hotel/timeshare in Bonaire with a new "high end" property that's being built up at the traffic circle where Sunset Beach used to be.

Unfortunately, its unlikely that the potential buyers of those new Timeshares will do their research on Divi Resorts and their business practices, to find the mess that they have made in the Caymans.

Those of us that are in the process of getting screwed at the Tiara have discovered that this isn't the first time that Divi have played these games: it happened at the "Divi Heritage" in Barbados too.


While we've had a decent return from our Tiara timeshare, I've learned a lot about the timeshare industry and how they rip off their customers. Yeah, it all sounds wonderful at first, and they generally get around 5 good years in, but then they start to squeeze you.

In general, the main aspects of timeshares that make them a much lesser value for consumers than what you're told come from the following factors:

* Mandatory Annual Fees (even if you don't use it)
* No independent auditing on the Annual Fees (they never go down)
* Contract Clauses that restrict your rights to sue to <Country>.

In short, the way Timeshares are set up, its a gravy train for the holding company:

- their customers buy in, and pay off your capital building costs
- customer must keep paying in at whatver "Annual Fee" rate you set
- the contract-holder doesn't have rights to see your books,
- you have no obligation to have your books audited,
- if you cook the books, they have no easy way to sue you.


- even if they figure out how to sue you in <Country>, the attitude is that they're "rich tourists" who can afford the financial loss, whereas you're the local business to be protected because you provide local jobs.


All in all, it is very much a "Trust Me!" type of business arrangement, which means that it is ripe for abuse of that trust.

"Friends don't let Friends buy Timeshares". Especially one from Divi.



-hh

 

[smb1014]

The timeshare, which is apparently a separate business entity from the hotel, is still open with limited service and reduced occupancy.
A long-time island DM, Craig, is negotiating with Divi to use their dock and other dive facilities.
The hotel is for sale, but asking upwards of $10 million.

Is Craig back over at Brac Reef? I was at Divi in August 2006 and he was working at Divi for some time. He is an AWESOME DM and Instructor.

 

[knotical]

Is Craig back over at Brac Reef? I was at Divi in August 2006 and he was working at Divi for some time. He is an AWESOME DM and Instructor.

Craig started his own operation.
See: http://www.indepthwatersports.com/

 

[Diver Lori]

Hugh,

I'm sorry to see you've been abused in this fashion. You were a staunch, yet practical defender of Divi back when I had a very bad experience with them a few years back. I hate to see anyone taken advantage of.

I never did take advantage of the free week they offered me to win back my confidence. I was too leary to do so.

Dive safe and keep taking pictures,

Lori

Its been interesting to watch the train-wreck that Divi has made for themselves.

Disclaimer: I'm a timeshare owner at the Divi Tiara

IMO, Divi is going to be stupid and burn more bridges in their attempt to try to squeeze every possible penny out of whoever's thinking about buying, because they need the cash for other projects.

For example, Divi is trying to replace the Divi Flamingo hotel/timeshare in Bonaire with a new "high end" property that's being built up at the traffic circle where Sunset Beach used to be.

Unfortunately, its unlikely that the potential buyers of those new Timeshares will do their research on Divi Resorts and their business practices, to find the mess that they have made in the Caymans.

Those of us that are in the process of getting screwed at the Tiara have discovered that this isn't the first time that Divi have played these games: it happened at the "Divi Heritage" in Barbados too.


While we've had a decent return from our Tiara timeshare, I've learned a lot about the timeshare industry and how they rip off their customers. Yeah, it all sounds wonderful at first, and they generally get around 5 good years in, but then they start to squeeze you.

In general, the main aspects of timeshares that make them a much lesser value for consumers than what you're told come from the following factors:

* Mandatory Annual Fees (even if you don't use it)
* No independent auditing on the Annual Fees (they never go down)
* Contract Clauses that restrict your rights to sue to <Country>.

In short, the way Timeshares are set up, its a gravy train for the holding company:

- their customers buy in, and pay off your capital building costs
- customer must keep paying in at whatver "Annual Fee" rate you set
- the contract-holder doesn't have rights to see your books,
- you have no obligation to have your books audited,
- if you cook the books, they have no easy way to sue you.


- even if they figure out how to sue you in <Country>, the attitude is that they're "rich tourists" who can afford the financial loss, whereas you're the local business to be protected because you provide local jobs.


All in all, it is very much a "Trust Me!" type of business arrangement, which means that it is ripe for abuse of that trust.

"Friends don't let Friends buy Timeshares". Especially one from Divi.



-hh