The combined company will have 720,000 owners and 154 resorts. Credit: Richard Mcall from Pixabay.

Hilton Grand Vacations (HGV) has signed an agreement to acquire US-based Diamond Resorts International in a deal valued at approximately $1.4bn.

Under the terms of the definitive agreement, Hilton Grand will acquire Diamond Resorts from funds managed by Apollo Global Management affiliates, funds managed by affiliates of Reverence Capital Partners and other Diamond stockholders.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The latest acquisition will see the combination of Hilton Grand’s brand strength and culture with Diamond Resorts.

Diamond Resorts’ 92 leisure resorts and nearly 400,000 owners complement Hilton Grand’s 62 upscale and luxury properties as well as more than 325,000 owners.

The combination is set to create the premier vacation ownership company which will have 720,000 owners and 154 resorts.

Hilton Grand Vacations president and CEO Mark Wang said: “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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Diamond’s extensive regional, drive-to network of resorts and expanded demographics uniquely complement HGV’s best-in-class lead generation, world-class hospitality, and premier destinations backed by the strength of the Hilton brand.”

The transaction will expand and diversify Hilton Grand’s resort portfolio into more than 20 new markets and allows the company to leverage the Hilton network to expand customer reach.

Additionally, the complementary footprint of Diamond Resorts will bolster Hilton Grand’s strong network of beach, attraction-based, and urban markets.

The transaction will also generate more than $125m in run-rate cost synergies.

Once the deal concludes, existing shareholders of Hilton Grand will own about 72% of the combined company and the remaining 28% would be with Apollo Funds.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close this year.