Hilton Grand Vacations Inc. announced earlier this month that four local resorts now have it as a new owner.
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.
“The acquisition of Diamond Resorts further strengthens HGV’s position as an industry leader, and we are excited to welcome more than 380,000 new owners into our family,” Mark Wang, president and CEO of Hilton Grand Vacations, said in a release. “Our combined 154 resorts and luxury properties will create the premier timeshare network for our members and guests, while positioning us to drive long-term shareholder value.”
According to John Eddy, vice president of Goldin Solutions, which does public relations for Diamond Resorts, the acquisition includes the four Diamond-owned properties in and around Sedona: Los Abrigados Resort & Spa, Sedona Summit, The Ridge on Sedona Golf Resort and Bell Rock Inn.
Emails sent to several spokespeople from both companies were not returned by press time.
