Diamond Equity Estates
Properties

Ultimate Escapes may be known as the world's first publicly-traded destination club, but Diamond Equity Estates dabbled with the idea in 2005. Diamond Equity Club would be part of Diamond Equity Estates, "a wholly owned subsidiary operation specializing in the sale of fractional ownership of luxurious real estate properties."

Diamond Bay Holdings was listed as DBHD in the Pink Sheets. Other subsidiary operations in addition to the upstart destination club included telecommunications, career services, and internet marketing.

Two different membership options would be offered: Elite Destiny and Elite Equity. "Destiny members pay a minimum initiation fee of $150,000 and are entitled to specific usage privileges at the company 's resort facilities during the year.Equity members pay an initiation fee of $500,000, and in addition to usage privileges, they also take an ownership stake in selected Club properties.Equity members are able to resell their stake, much as they would with any real estate holding."

Diamond Equity Estates would limit their club to 250 Destiny members and 50 Equity members. Unfortunately, the young club would never reach these lofty goals.

Diamond Equity Estates would announce that they were moving forward with two different properties at the time of their launch. "We are in the final stages of contract negotiations on two very exclusive Destiny properties and expect to finalize pricing and contracts before the end of the first quarter of this year," said Jeff Guzy, President of Diamond Bay Holdings. "We are focusing on opulent wineries, castles, ocean and ski resorts and other similar properties that will enable our members to experience the very finest in luxury vacation at secluded, non-commercial settings that cater to the finest tastes."

When the club was asked for about more information about these properties, no information was disclosed, including where the properties were located or any details regarding the contracts.

The small club would cease operations before making any headway in the highly competitive destination club industry.

If you would like to learn more about Diamond Equity Estates, please access the club's quick links found to the right.