On March 10, 2021, Hilton Grand Vacations Club announced that it had entered into a definitive agreement to acquire Diamond Resorts. The stock-based transaction had an equity value of approximately $1.4 billion. That acquisition was completed on August 2, 2021.
The acquisition merged vacation club powerhouse HGV and Diamond Resorts, then the largest independent timeshare operator. The combined company operated 154 resorts and had 710,000 owners at closing. HGV’s 62 upscale properties and Diamond’s 92 resorts created what HGV called the broadest offering of ownership opportunities in the industry. Upon merging, HGV diversified its portfolio and expanded its business into over 20 new markets. Diamond’s resorts boosted HGV’s already vast selection of beach and attraction-based resorts, while also adding more drive-to destinations in desert and mountain regions.
This strategic combination will leverage the strengths of each company, positioning us to drive significant Net Owner Growth while enhancing efficiencies of scale and generating significant shareholder value.
Mark Wang, President and CEO of Hilton Grand Vacations
Combining Hilton Grand Vacations’ trusted services and Diamond’s flexible point-based ownership was expected to cater to a larger audience and drive growth for the company.
Who Owns Diamond Resorts?
Hilton Grand Vacations Inc. (HGV) owns Diamond Resorts. HGV completed its acquisition of Diamond Resorts International on August 2, 2021, in a stock-based deal worth about $1.4 billion. HGV bought Diamond from funds managed by affiliates of Apollo Global Management and Reverence Capital Partners, along with other Diamond stockholders.
Headlines saying “Hilton acquires Diamond Resorts” point to HGV, a separate company spun off from Hilton Worldwide in 2017. Since 2022, HGV has rebranded many Diamond leisure resorts as Hilton Vacation Club properties, including Polo Towers, a Hilton Vacation Club, in Las Vegas. Upgrading to HGV Max is optional, not automatic. Our guide explains what the acquisition means for Diamond owners.
Hilton Grand Vacations Timeshare
Over the years, HGV has proven that it is one of the leaders of the vacation ownership industry. HGV’s luxurious resorts around the world provide comfort and hospitality to their 720,000+ members. Their flexible system allows owners to use their points as vacation currency, rather than fixed weeks, creating endless vacation opportunities. If you’re looking to buy Hilton Grand Vacations Club timeshares, the experts at Timeshares Only are eager to help you. Browse our selection of Hilton Timeshare Resales on our marketplace.
Sell Your Diamond Resorts Timeshare
Still own Diamond points or a deeded week and wondering what to do with it now? Here’s how to sell your Diamond Resorts timeshare after the move to Hilton Grand Vacations.
