Yesterday Diamond Resorts International Inc. (the conglomerate) took one hell of a beating as their troublesome share values plummeted by another 11% in early trading. The fall is as a result of an article which suggests that the company is operating high pressure tactics in its sales rooms so as to close sales, and generate fees from Consumers.
It is abundantly clear to each and every timeshare owner that high pressure sales tactics exist in the timeshare industry. However, the industry slaps on extensive amounts of gloss so as to glaze over the habitual high pressure sales pitches.
The article is repeated HERE
After severe panic set in, Diamond Resorts International Inc. faxed off a communication to the stock exchange which states as follows;
High-pressure tactics which Diamond uses to close sales and keep generating fees for customers. High-pressure sales tactics aren’t uncommon in the timeshare industry and an email from Diamond to investors dated today says that the company has high satisfaction ratings from customers and follows industry practices.
A greater concern long term is that high-pressure timeshare sales tactics and the contracts that come with them will come under pressure from the Consumer Financial Protection Bureau. There are rumors around the industry that the agency will be looking to increase oversight, which could threaten their extremely lucrative business.
One day of falls & Share price since flotation;
Clearly shares have been tumbling and may reach their original flotation price as the company is being exposed to market forces.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk