who bought diamond resorts

–(BUSINESS WIRE)–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?

Hilton Grand Vacations

Has Acquired Diamond Resorts.

Is Diamond Resorts being sold?

Hilton Grand Vacations has announced that they will be acquiring Diamond Resorts, who is the largest independent timeshare operator. The agreement between Hilton Grand Vacations Inc.

Is Diamond Resorts owned by 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.

Is Hilton 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.

Does Apollo own HGV?

Upon transaction close, existing HGV shareholders will own approximately 72% of the combined company and the Apollo Funds will own approximately 28% of the combined company.

Where is Stephen Cloobeck now?

He is also the chairman of the board of the US Corporation for Travel Promotion. Cloobeck stepped down as chairman and chief executive officer of Diamond Resorts International when the company was purchased by Apollo Global Management, LLC in June 2016.

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.

Did Wyndham buy Diamond Resorts?

Image owned by Hilton Grand Vacations. It’s been a major year for timeshare. 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.

Does Marriott Own Diamond Resorts?

This agreement has elevated the positioning of 21 of our Blue Diamond Resorts properties which have become part of Marriott’s Autograph Collection and Tribute Portfolio brands.

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.

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.

Does Diamond Resorts still exist?

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.

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