Legislation to Bolster Vacation Ownership Options and Bring Local Jobs to North Carolina
AUG. 13, 2019 (LAS VEGAS, Nev.) – Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, applauds North Carolina lawmakers for unanimously passing North Carolina Senate Bill 590. The new legislation will expand vacation ownership and fractional ownership options for travelers looking to experience the increasingly popular tourist markets of North Carolina, while simultaneously bringing incremental jobs to the state.
In partnership with the North Carolina Real Estate Commission, Diamond Resorts advocated for the new real estate licensing law for timeshare sales. The new law modifies the real estate licensing requirements for timeshare salespeople. Formerly, all timeshare sales professionals were required to obtain a North Carolina real estate brokerage license. Under the new law, timeshare sales executives who are working for a developer, or an affiliate of the developer, and selling developer-owned inventory no longer need to be licensed. The bill passed the North Carolina Senate 45-0, as well as the North Carolina House on a vote with 107-0, showing bipartisan support and zero opposition. Governor Roy Cooper signed it into law Friday, August 9, 2019.
“As tourism in North Carolina continues to grow, we wanted to make sure that our members have the best options for vacation ownership in what has become a hugely popular destination for many families,” said Mike Flaskey, CEO of Diamond Resorts. “We’re incredibly pleased to have partnered on this bill and to see it passed without opposition. We plan to invest heavily in what we see as a growing tourism destination in North Carolina, with a variety of vacation options, including the Great Smoky Mountains and best in class beach destinations.”
Diamond’s current vacation ownership properties in North Carolina include Beachwoods Resort in Kitty Hawk and Fairway Forest Resort in Sapphire Valley.
“This bill originally opened up some opportunities to expand real estate education,” said Jeff Malarney, Chairman of the NCREC. “The NCREC was pleased to be able to collaborate with Diamond Resorts to introduce legislation that brings timeshare sales in line with vacation rental and property management employees. It’s a win for the tourism industry in North Carolina.”
With this legislation, Diamond Resorts will expand its search for talented team members, continuing to grow the company’s footprint in North Carolina. “The economic impact to North Carolina from this legislation being passed will be monumental,” said Flaskey. “This forward thinking is not only a win for North Carolina, but also the entire vacation ownership and fractional ownership industries. We look forward to continuing to contribute to the local economies where our members have unforgettable vacation experiences.”
With over 400,000 members and a network of vacation destinations across the globe, Diamond Resorts provides members, owners and guests with choice and flexibility to let them create their dream vacation and enjoy memorable and meaningful experiences. Among the unforgettable experiences offered by Diamond Resorts are intimate beachside concerts by platinum-selling artists such as Cole Swindell, Lee Brice and Jana Kramer, and premier seats to sporting events and culinary tours. With an innovative points system, members can personalize their vacation experiences and get the most out of their timeshare ownership. Diamond continually expands its offerings to meet changing preferences and makes data-driven decisions to enhance experiences and put members first.
To learn more about Diamond Resorts, visit DiamondResorts.com.
About Diamond Resorts
Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.