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.
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Is Apollo selling Diamond Resorts?

Apollo Global Management and Reverence Capital Partners have agreed to sell Diamond Resorts International to Hilton Grand Vacations for about $1.4 billion.

Did Diamond Resorts get bought out?

(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 is going on with Diamond Resorts?

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.

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.

Is Hilton buying diamond resorts?

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.

How much is the CEO of Diamond Resorts worth?

Net Worth: $100 Million
Gender: Male
Profession: Businessperson
Will Diamond Resorts let me out of my timeshare?

For those who are eligible, Transitions™ by Diamond Resorts may offer members and owners an easy and respectful way to relinquish all or part of your vacation ownership, providing you with the opportunity to transition out of vacation ownership.

Who is the CEO of Diamond Resorts?

“Through this agreement, HGV and Diamond will create a new global standard of vacation ownership hospitality,” said Mike Flaskey, CEO of Diamond Resorts.

How do I get a refund from Diamond Resorts?

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. 391.7840.

How old is Stephen Cloobeck?

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

How much does it cost to be a member of Diamond Resorts?

Customers can expect to pay about $26,000 for a VOI for one week a year and about $1,460 in annual maintenance fees. And a VOI is a so-called perpetual use product with a lifetime contract that’s difficult for a member to be extricated from — and there’s no resale market that he or she could tap for cash.

What is the biggest timeshare company?

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

Who bought Welk Resorts?

Welk Resorts is pleased to announce an agreement with Marriott Vacations Worldwide Corporation (MVW) to acquire Welk Resorts. This transaction will bring together two respected industry leaders with properties in some of the most iconic and sought-after vacation destinations in the world.

Who owns Blue Diamond Resorts?

In a monumental move for the hotel industry, Sunwing Travel Group has announced that its hotel division, Blue Diamond Resorts, has signed an agreement with Marriott International to combine their innovative brand concepts and offer customers unparalleled vacation experiences.

Is Wyndham part of Diamond Resorts?

24% Promoters
73% Detractors
Do the Hiltons own the Hilton hotels?

Headquarters in Tysons Corner, Virginia, United StatesWebsitewww.hilton.com

When did Hilton purchase 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.

Does Marriott Own Hilton vacations?

The combined company will have 108 properties and seven upscale brands including ILG’s Hyatt, Westin and Sheraton vacation ownership brands, giving it more scale to compete with Hilton Grand Vacations Inc HGV. …

What happens if you stop paying Diamond Resorts?

Failure to pay the maintenance fees results in the resort foreclosing on the property and selling it at auction to recover money owed. You may face a judicial or non-judicial foreclosure. … Non-judicial foreclosures, which are more common in California, provide the lender with a quicker foreclosure option.

Can I sell my diamond resort points?

Resale Information: Unfortunately, Diamond Resorts has restricted the ability to resell THE Club points on the secondary market. Diamond requires that all resale buyers must upgrade their points with the developer.

What happens if I stop paying my timeshare?

If you stop paying on your timeshare loan, you face foreclosure. Foreclosure is the process whereby the lender files to take possession of the property and sell it at auction to recover the money you owe. … Your contract authorizes the trustee to sell the timeshare in the event you stop paying on it.

How many diamond resorts are there?

Whether you’re looking for a weekend getaway or an adventure halfway across the world, our network of over 400 resorts offers you comfort, choice and flexibility.

How old do you have to be to stay at Diamond Resorts?

Each individual must be 25 years old or older. Employees of Diamond Resorts International Marketing, Inc. and its affiliated and subsidiary companies, and their immediate families are ineligible.

How do you get out of a timeshare?

If you no longer want your timeshare and the state where you bought your timeshare has a rescission period, you can cancel your timeshare agreement by sending the resort a letter stating you no longer want to own the timeshare via certified mail. A rescission period is often just three or five days long.

Is Diamond Resorts still in business?

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.

What are Diamond members?

Diamond Members Diamonds truly are a girl’s best friend. The top-tier membership option for established members on Seeking, Diamond members enjoy exclusivity and a number of perks that can enhance one’s time spent on the site.

What exactly is a timeshare?

A timeshare is a shared ownership model of vacation real estate in which multiple purchasers own allotments of usage, typically in one-week increments, in the same property. The timeshare model can be applied to many different types of properties, such as vacation resorts, condominiums, apartments, and campgrounds.

How do you save points at Diamond Resorts?

Members should go to DiamondResorts.com and log in to their member account or call member services to save points. Once points have been saved they may still be accessed during the current year, although an administrative fee may be charged.

What is a good timeshare to buy?

Wyndham Destinations is considered one of the best timeshare companies because of its expansive portfolio across the world. There are several clubs under Wyndham Destinations, including Club Wyndham, Margaritaville Vacation Club, WorldMark by Wyndham, Shell Vacations Club, and more.

How many Americans are timeshare owners?

The American Resort Development Association – Resort Owners’ Coalition (ARDA-ROC) is made up of more than 1.6 million timeshare unit owners in the United States.