Hilton Grand Vacations Club Acquires Diamond Resorts International
Just last week, Hilton Grand Vacations Club (HGVC) announced big news for the corporation. They signed an agreement for the acquisition of Diamond Resorts International Inc. While the purchase price was undisclosed, the Diamond stock itself had an equity value of about $1.4 billion. With the two companies combined, Hilton will now be managing 154 resorts and serving 720,000 owners.
Investors are excited about this move by Hilton. The acquisition should cause an acceleration of growth as it expands HGVC into over 20 new markets. After over a year of covid-19 pandemic related travel and lodging limitations, this is the kind of news we have all been holding our breaths for. The vacation industry still stands and hopes are up for a surge in tourism as more and more people around the world are vaccinated.
Mike Flaskey, CEO of Diamond Resorts, noted that HGVC and Diamond together will create a new global standard of vacation ownership hospitality through this agreement. He said,“We will expand Diamond’s unique events and concert platform and deliver the broadest range of world-class experiences available in the industry, providing our members and owners with additional flexibility, unforgettable vacations and experiences of a lifetime. We are thrilled to join the HGVC family and look forward to achieving new heights of excellence.”
What New Experiences Await Hilton and Diamond Owners?
Each vacation club will have access to all the resorts combined, in one way or another. Let’s take a look at just some of the few places timeshare users rate as the best amongst each collection.
Here are the top 5 most desired resorts in the Diamond collection:
- San Jose Del Cabo – Cabo Azul Resort, rated the top most desired location in the Diamond collection, is an epitome of sophistication and indulgence, far superior to any other resorts in the region.
- Sedona AZ – Sedona Summit comes in at a close second. This resort paradise lavishes guests in breathtaking natural beauty and the ideal desert retreat.
- Lahaina, HI – Ka’Anapali Beach Club – third up on the list – sits on the white-sand beaches of West Maui. Each of the units offer a spacious lanai.
- Orlando, FL – Grand Beach I is surrounded by miles of pristine beaches, tiny island keys and underwater reefs.
- Gatlinburg, TN – Bent Creek Golf Village. Set back into the foothills of the Great Smoky Mountains, Bent Creek Golf Village provides a relaxing retreat.
Here are the top 5 most desired resorts in the Hilton collection:
- New York, NY – West 57th Street allows you to experience a distinct Manhattan vibe accompanied with world-class amenities.
- Myrtle Beach, SC, Oceans 22. This 22-story tower provides the sand, surf and southern charm of one of America’s all time favorite beaches.
- Breckenridge, CO – Valdoro Mountain Lodge is a luxurious retreat nestled near the base of the vibrant Breckenridge mountain scene.
- Honolulu, HI – Grand Waikikian. This 38-story tower heralds a new era of elegance in the oceanfront paradise of Waikiki, a destination of romance and dreams, of cultures and cuisines.
- Waikoloa, HI – Kings’ Land Resort. This is one of those rare destinations where reality actually exceeds the fantasy. Those who make Kings’ Land their home on the Big Island are rewarded with a million ways to fill their days.
What will the integration look like?
While both Hilton and Diamond operate on points systems, how they will merge and combine is yet to be revealed. We stay right on top of industry news, so as soon as the information is available we will educate ourselves and keep you informed.
What we know of timeshare resort mergers is from our years of experience in assisting with timeshare transfers – it’s that when it comes to deeded timeshare ownership and companies merging, some owners will have completely different usage options than others.
For instance, it usually goes that anyone who purchases a timeshare from the date of the merge and forward has a more flexible all-inclusive experience than those who purchased prior. And when the owners go to resell their memberships through a licensed timeshare resale broker like ourselves, some things might not transfer. We have seen it so often that what an owner currently has and loves loses some of its benefits through the resale transaction.
History of Hilton Grand Vacations Club International
While the Hilton hotel brand, founded by Conrad Hilton, emerged in 1919, the timeshare ownership niche didn’t show up until the early 1960’s when a developer named Hapimag had a 13-unit resort built in Graubuenden, Switzerland. Him and his partner began selling ‘right-to-use’ packages while pioneering the first points program and the very first timeshare rescission clause.
At about the same time, Americans were developing their own vacation ownership variation on the island of Maui, Hawaii. The Hilton Hale Kaanapali broke ground in the fall of 1965. The property was located on a Pioneer Mill Plantation that covered nearly 15,000 acres.
Interesting history also – in that same year of 1965, The Lady Hilton was released. This was Hilton’s first concept designed for women travelers, offering female-only floors or rooms and special amenities at select hotels.
Hilton Grand Vacations Club is what we now recognize as today’s Hilton vacation ownership sector. In 1994, The Flamingo at Las Vegas was the first resort added to the Club followed shortly by Hilton Grand Vacations Club at Seaworld.
Hilton’s non-ownership hotel brand is what we widely refer to now as Hilton Worldwide and today they operate more than 3,750 hotels in 82 countries.
Hilton Grand Vacations Club provides luxurious, spacious, villa-style accommodations with all the amenities and the Hilton signature for style, comfort and hospitality. Browse our Hilton listings now and if you don’t see what you’re looking for let us know. We have access to virtually everything on the resale market and will go to work to locate exactly what you need.