Hilton Grand Vacations has completed the previously announced acquisition of Diamond Resorts International, creating the largest upper upscale and luxury timeshare operator in a stock-based transaction with an equity value of approximately $1.4 billion, according to a press release from Hilton Grand Vacations.

Is Hilton still buying Diamond Resorts?

(Aug. 2, 2021) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or the “Company”) announced today that it has completed the previously announced acquisition of Diamond Resorts International, Inc. (“Diamond”) from funds managed by affiliates of Apollo Global Management, Inc.

What happened Diamond Resorts?

In January 2020, Diamond Resorts partnered with Highgate to rent units in two properties in New York City. In March 2021, Apollo Global agreed to sell Diamond Resorts to Hilton Grand Vacations for $1.4 billion. The acquisition was completed on August 2, 2021.

When did Hilton buy Diamond Resorts?

On Aug. 2, Hilton Grand Vacations Inc. completed the previously-announced acquisition of Diamond Resorts International Inc. According to a press release, the stock-based transaction has equity value of approximately $1.4 billion for the timeshare resorts.

Did Wyndham buy Diamond Resorts?

First, Wyndham Destinations purchased (and rebranded itself as) iconic travel brand Travel + Leisure for $100 million. Now, Hilton Grand Vacations has purchased Diamond Resorts from Apollo Global Management for $1.4 billion.

How many owners does Diamond Resorts have?

Diamond’s 92 leisure resorts and nearly 400,000 owners uniquely complement HGV’s 62 upscale and luxury properties and over 325,000 owners, and the combination will create the premier vacation ownership company with the broadest offering in the industry.

How old is Stephen Cloobeck?

Stephen J. Cloobeck (born October 26, 1961) is an American businessman and substantial donor to the Democratic Party.

What did Polo Towers used to be?

-The Polo Towers are actully three towers joined together. The first tower was built in 1992 with 160 timeshare units and the second tower in 1995 with 162 timeshare units. The Last Tower was added in 2000 which had 190 units.

Can I cancel my Diamond Resorts timeshare?

Cancellation: For a full refund of your Deposit, Owner(s) may cancel at any time within 10 days upon receipt of the confirmation letter (the “Cancellation Period”). Please send cancellation requests to Diamond Events, 10615 Park Run Drive, Las Vegas, NV, 89144 or call 1.800.

Is Marriott part of Diamond Resorts?

As part of the agreement, 19 of Blue Diamond Resorts’ properties will become part of Marriott International’s prestigious Autograph Collection by mid-2021.

Who did Hilton merge?

It’s officially official: Hilton Grand Vacations’ $1.4 billion acquisition of Diamond Resorts has closed. As we previously reported in March, when the merger was first announced, the deal caused shockwaves through the timeshare industry.

What is the biggest timeshare company?

Wyndham Destinations (NYSE:WYND), the world’s largest vacation club and exchange company, is on a mission to put the world on vacation.

Did Diamond Resorts sell to Hilton?

Hilton Grand Vacations has completed the previously announced acquisition of Diamond Resorts International, creating the largest upper upscale and luxury timeshare operator in a stock-based transaction with an equity value of approximately $1.4 billion, according to a press release from Hilton Grand Vacations.

Does Apollo own Diamond Resorts?

Diamond Resorts had been bought by Apollo Global Management for about $2.2 billion in 2016.

Who is the president of Diamond Resorts?

Michael Flaskey serves as the CEO / President of Diamond Resorts.