Hilton Grand Vacations (HGV) has entered into a definitive agreement to acquire Diamond Resorts International from funds managed by affiliates of Apollo Global Management, funds managed by affiliates of Reverence Capital Partners and other Diamond stockholders, for $1.4 billion.
The acquisition will combine the strength of HGV’s brand and culture with Diamond, one of the largest independent timeshare operator. Diamond’s 92 leisure resorts and nearly 400,000 owners uniquely complement HGV’s 62 upscale and luxury properties and more than 325,000 owners, and the combination will create the premier vacation ownership company with the broadest offering in the industry. The combined company will have 720,000 owners, 154 resorts and 48 sales centers.
“Through this agreement, HGV and Diamond will create a new global standard of vacation ownership hospitality,” said Mike Flaskey, CEO of Diamond Resorts. “Together, we will expand Diamond’s unique events and conc
