News Releases

Leader in Experiential Vacations Announces One of the First In-Person Event Series to Return; Vacationers Will Enjoy Performances in Top Destinations, Including Maui, Las Vegas, Virginia Beach & Orlando

JUNE 9, 2021 (LAS VEGAS, Nev.) — Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, announces an incredible lineup of #DiamondLIVE concerts for vacationers to enjoy this summer. Some of music’s top stars, including Lee Brice, Cole Swindell, Jana Kramer, Travis Tritt, Colt Ford, Amy Hānaiali’i and others are set to return to the stage and debut new music at more than 30 shows. The #DiamondLIVE series is one of the first in-person concert series to return post-pandemic and is set to delight audiences from Maui to Orlando.

The #DiamondLIVE series gives Diamond members and owners exclusive opportunities to see their favorite bands and artists perform intimate live shows. As travelers return to vacationing this summer, they will be able to catch once-in-a-lifetime shows in popular destinations like Honolulu, Maui, Las Vegas, Orlando, Virginia Beach, Norfolk, Gatlinburg, Sedona and Orlando. All shows will be hosted in accordance with all local COVID-19 health and safety protocols.

“We’re proud to be one of the first companies to bring back live entertainment and the only hospitality company to offer our members and owners top-caliber events with music legends,” said Mike Flaskey, CEO of Diamond Resorts. “There’s nothing better than enjoying a vacation and getting to see your favorite artists perform for you live. This is going to be a summer to remember, and we can’t wait to see some of our favorite artists return to the stage.”

Dozens of #DiamondLIVE shows are planned, including:

• June 14: Travis Tritt – Orlando, FL
• June 21: Maddie Poppe – Gatlinburg, VA
• June 28: Cole Swindell – Las Vegas, NV
• July 4: Joey Fatone & Friends – Las Vegas, NV
• July 5: Carly Pearce – Orlando, FL
• July 5: Scott Stapp – Virginia Beach, VA
• July 26: Colt Ford – Virginia Beach, VA
• July 26: 38 Special – Orlando, FL
• August 2: Jana Kramer – Las Vegas, NV
• August 8: Amy Hānaialiʻi – Maui, HI
• August 9: Lee Brice – Virginia Beach, VA
• August 16: Ken & Drew of Sister Hazel – Orlando, FL

Check the full event calendar for more information about upcoming #DiamondLIVE events.

Every year Diamond Resorts hosts hundreds of member-exclusive events that uniquely mix travel with entertainment. From racing go-karts alongside NASCAR legend Michael Waltrip to getting golf tips from 10-time LPGA Major Champion Annika Sörenstam, Diamond’s Events of a Lifetime^® series delivers hundreds of unique opportunities for members to vacation like never before. Earlier this year, the LPGA tour kicked off with the Diamond Resorts Tournament of Champions, the company’s flagship event.

About Diamond Resorts

Diamond Resorts® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact

Anna Sczepanski
diamond@goldin.com
646-660-8646

From Joshua Tree to the Great Smoky Mountains, Guests Can Discover Natural Wonders From Coast to Coast While Staying at Over a Dozen Diamond Resorts Properties

MAY 26, 2021 (LAS VEGAS, Nev.) — Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, is pleased to offer its new National Park Explorer offer for families to enjoy stunning natural wonders from coast to coast this summer and fall. Diamond’s condo-style suites — featuring multiple bedrooms and fully equipped kitchens — provide the perfect home base for day trips to national parks including Zion, Bryce Canyon and the Blue Ridge Mountains.

The National Parks Explorer offer is available at over a dozen resorts in U.S. destinations from California to North Carolina. Guests can make once-in-a-lifetime memories while hiking the Grand Canyon, biking through Death Valley or watching the sunset over the Great Smoky Mountains. From now until June 9, 2021, travelers can use the offer code NATLPARKS and enjoy 15% off the Best Available Rate for stays through October 31, 2021 by booking through DiamondResortsandHotels.com.

“We know our members, owners and guests are eager to get back to traveling, and scenic, drive-to destinations remain incredibly popular,” said Mike Flaskey, CEO of Diamond Resorts. “We hope this promotion inspires families to discover the many awe-inspiring national parks our country has to offer. Guests can roam the trails at nearby parks in the morning and unwind at our world-class resorts in the evening.”

Resorts participating in the National Parks Explorer promotion include:

Utah: Cedar Breaks Lodge & Spa in Brian Head serves as a rustic retreat for outdoor enthusiasts. Guests can explore the distinguished red canyons of nearby Zion National Park or take in the views from the scenic vista at Cedar Breaks National Monument in beautiful southern Utah.

Nevada: Cancun Resort Las Vegas and Polo Towers offer the unique mix of electrifying entertainment on the Las Vegas Strip and close proximity to 20 national parks, including Death Valley National Park, Joshua Tree National Park and Bryce Canyon National Park.

Arizona: Scottsdale Links Resort, Scottsdale Villa Mirage and Varsity Clubs of America – Tucson all provide rejuvenating retreats near Saguaro National Park, Grand Canyon National Park and Petrified Forest National Park.

California: Palm Canyon Resort, Marquis Villas Resort and Embarc Palm Desert are perfect destinations for travelers looking to explore the state with the most national parks. Joshua Tree National Park and Mojave National Preserve are both a quick drive from the resorts.

Colorado: Encased in the natural beauty of a lush green forest, The Historic Crags Lodge rests on the north side of Prospect Mountain, merely three miles from the breathtaking scenery of Rocky Mountain National Park.

New Mexico: Guests can take acolorful journey to the base of the breathtaking Sangre de Cristo Mountains at Villas de Santa Fe, discover the remains of Indian pueblos at Pecos National Historical Park and the rugged, majestic canyons of Bandelier National Monument.

Tennessee: World-renowned for the beauty of its ancient mountains, Great Smoky Mountains is the country’s most popular national park. Guests staying at Sunrise Ridge Resort will be able to unwind amidst breathtaking views and wildlife.

North Carolina: Located in the southernmost part of the picturesque Blue Ridge Mountains,

Fairway Forest Resort is truly a paradise for hikers, fishers and golfers.

Some national parks may require reservations for entry, and visitors should check ahead to plan for any entry reservations, fees and current park operating statuses prior to arriving.

Diamond’s spacious accommodations are perfectly suited for family vacations, and many properties feature multiple bedrooms and bathrooms, fully equipped kitchens, spacious dining and living areas and in-suite laundry.

To learn more about Diamond Resorts and the company’s expanded Diamond Standard of Clean protocols visit DiamondResorts.com.

About Diamond Resorts

Diamond Resorts® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact
Anna Sczepanski
diamond@goldin.com
646-660-8646

Vacation Ownership Company’s Diamond Resorts Tournament of Champions Also Honored as Top Sporting Event

MAY 12, 2021 (LAS VEGAS, Nev.) — Diamond Resorts^®, a global leader in the hospitality, vacation ownership and entertainment industries, has been honored with several Stevie Awards as part of the 19th Annual American Business Awards.

The awards, which recognize accomplishments of America’s businesses and nonprofits, honored Diamond’s continued innovations in the past year that have enabled the company to continue to be a leader in the vacation ownership industry. The company received several honors, being recognized for its responses to the COVID-19 pandemic, the Diamond Resorts Tournament of Champions and the leadership of Diamond Resorts CEO Mike Flaskey.

When the pandemic struck and many Diamond Resorts properties were forced to close, the company launched a global initiative to help provide those responding to the COVID-19 pandemic with comfortable and convenient places to stay. Diamond’s offer of free accommodations to medical personnel and other first responders resulted in the company giving away more than 10,000 nights to those on the front lines of the pandemic.

Diamond Resorts was also honored for its annual Diamond Resorts Tournament of Champions, which serves as the kick-off to the LPGA Tour season and includes a unique format that combines LPGA Tour winners playing alongside a field of sports and entertainment celebrities. The tournament’s charity auction has raised more than $4.3 million for charity since 2013.

Diamond’s full list of Stevie Awards includes:

• Most Valuable Corporate Response: 10,000 Free Nights for Frontline Healthcare Workers (Gold Level)
• Sporting Event: 2020 Diamond Resorts Tournament of Champions (Gold Level)
• Maverick of the Year: Mike Flaskey (Silver Level)
• Communications Campaign, Social Media Focus: #DiamondLIVE @ Home (Bronze Level)

“It’s an honor to be recognized for our efforts over the past year as we’ve remained focused on staying innovative, providing amazing experiences for our members and also giving back to the community,” said Diamond Resorts CEO Mike Flaskey. “Now as more people are getting back to a new normal, we’re seeing significant demand from our members, owners and guests who can’t wait to get back out and start traveling again. We’re glad to see it and excited to welcome our members and guests back to their home away from home.”

About Diamond Resorts

Diamond Resorts® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact

diamond@goldin.com

Court Rules that Diamond Sufficiently Alleged that Carlsbad Law Group and McCroskey Legal Violated State and Federal Law in Offering So-Called Timeshare “Exit” Services

APRIL 29, 2021 (LAS VEGAS, Nev.) — Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, announces another legal victory in its lawsuit against Pandora Marketing (d/b/a Timeshare Compliance), Intermarketing Media (d/b/a Resort Advisory Group), Carlsbad Law Group (including Slattery, Sobel & Decamp, Del Mar Law Group, and Sean Slattery), and McCroskey Legal (including Unlock Legal and Miranda McCroskey). A California federal court recently denied the majority of Carlsbad Law Group’s and McCroskey Legal’s motions to dismiss the claims leveled against them by Diamond, allowing Diamond to proceed against these timeshare “exit” lawyers for contributory false advertising under the Lanham Act, violations of California’s Unfair Competition Law, civil conspiracy, and aiding and abetting Timeshare Compliance and Resort Advisory Group’s tortious conduct.

Diamond’s lawsuit details the nationwide consumer scam perpetrated by Timeshare Compliance, Resort Advisory Group, Carlsbad Law Group, and McCroskey Legal.  Timeshare Compliance and Resort Advisory Group lure timeshare owners into paying exorbitant upfront fees for timeshare “exit” services, and then assign the owners to Carlsbad Law Group or McCroskey Legal, law firms that merely procure forced defaults on the timeshare contracts.  Instead of providing legitimate services, Carlsbad Law Group and McCroskey Legal, with help from Timeshare Compliance and Resort Advisory Group, mislead timeshare owners, delay service to induce additional upfront “exit” fees from owners, and then encourage nonpayment on the timeshare contract.  This results in defaulted contracts, damaged credit, and tax liabilities for the timeshare owners.

In their motions to dismiss, Carlsbad Law Group and McCroskey Legal argued that the lawsuit should be dismissed because Diamond failed to state viable claims.  The U.S. District Court for the Central District of California disagreed.  

As to Diamond’s Lanham Act claim, which addresses false and misleading advertising distributed to the public, the Court highlighted Diamond’s allegations that Carlsbad Law Group and McCroskey Legal encourage and support the “exit” companies’ false advertising with statements on their own websites; continue to accept timeshare owner referrals despite knowing of the false and misleading advertising; and otherwise enable the “exit” companies’ services.

Diamond will also proceed with its claim under California’s Unfair Competition Law, which prohibits unfair, unlawful, and fraudulent business practices.  The Court pointed to Diamond’s allegations that Carlsbad Law Group’s and McCroskey Legal’s services are touted by Timeshare Compliance and Resort Advisory Group, and that Carlsbad Law Group’s and McCroskey Legal’s involvement is the main reason owners sign on to the “exit” scheme.

For Diamond’s civil conspiracy claim, the Court was persuaded that Diamond sufficiently alleged that Carlsbad Law Group, McCroskey Legal, and the “exit” companies work closely together and “reached a common understanding as to the objective of the conspiracy.”

Diamond’s claims that Carlsbad Law Group and McCroskey Legal aided and abetted the scheme will also proceed.  The court recognized Diamond’s assertions that Carlsbad Law Group and McCroskey Legal are integral to the scheme:

Given the false advertising and the Lawyer Defendants’ relationship with the Exit Company Defendants, it is plausible that the Lawyer Defendants knew of the scheme and gave substantial assistance by agreeing to be the lawyers that the Exit Company Defendants needed to perpetuate the scheme. By accepting referrals the Lawyer Defendants substantially aided the exit scheme as a whole.

“This ruling is yet another important step towards holding nefarious companies accountable for the harm they inflict on our members,” said Mike Flaskey, CEO, Diamond Resorts®. “Lawyers are instrumental to many of the exit schemes, and we will not allow them to prioritize referrals and financial gain over the best interests of our members.”

In addition to this case, Diamond Resorts has pursued more than fifteen actions in courts across the country against numerous companies marketing themselves as third-party exit companies.

While the vast majority of members enjoy their vacation ownership, Diamond Resorts also understands that life circumstances can change and provides options for members seeking to safely modify or leave their vacation ownership behind. To learn more about red flags and report possible fraudulent third-party exit activity, visit Exit.DiamondResorts.com.

About Diamond Resorts

Diamond Resorts® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact

diamond@goldin.com

Vacation Ownership Company with 92 Managed Global Resorts Using Looker and BigQuery to Establish Advanced Forecasting Models to Meet the Demands of Rapidly Changing Industry Conditions

MAR. 22, 2021 (LAS VEGAS, Nev,) — Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, has deployed Google Cloud tools as part of a company-wide digital transformation. Diamond has been using Looker and BigQuery technology to accurately predict travel demand, monitor occupancy rates, track revenue and reduce expenses during the pandemic. With the help of real-time consumer insights, Diamond has been able to optimize the reopening plan for its global properties and meet the demands of rapidly changing industry conditions.

“While no one could have predicted the impact of the pandemic, we are thankful to have prioritized our company-wide digital transformation over the past few years,” said Mike Flaskey,
CEO of Diamond Resorts. “A key aspect of this was the implementation of Looker which has allowed us to quickly make data-driven decisions during a time of historic unpredictability.”
 
Since reopening its resorts at the end of May, Diamond has experienced strong demand and checked in more than 370,000 guests, finalizing more than $200 million in new vacation ownership interests. This demand is largely driven by millennial travelers as Diamond’s once-in-a-lifetime experiences — including private concerts and meet-and-greets with celebrities — appeal to a younger generation of members. As travelers continue to seek the additional space and professional management of “members-only” travel, vacation ownership is one of the most accessible ways for families to enjoy exclusive destinations and experiences.
 
By establishing Looker as an organization-wide business intelligence platform, Diamond Resorts can better track new reservations, reschedules and check-ins at resorts in real time. Using these insights, Diamond has identified the following key travel trends 2021:

• Post-Vaccine Demand: Bookings for the winter and spring are up 51% this year compared to Q2 2020 as travelers eagerly plan for post-vaccine travel. As immunizations increase, guest arrivals since mid-February are 17% higher than 2019 arrivals during the same time period. Known for providing its members with exclusive entertainment experiences, Diamond Resorts is also seeing strong demand for live private concerts in late 2021 and early 2022.
• On the Road Again: Drive-to destinations continue to be popular with travelers looking for short getaways. As of March 15, weekend occupancy rates at Diamond’s U.S. resorts have returned to pre-COVID-19 levels. More than 85% of Diamond members live within a 300-mile drive to a Diamond Resorts property.

Prior to utilizing Google Cloud machine learning, Diamond’s forecasting for availability was a multi-part process over a 28-day horizon. With Machine Learning, Diamond has been able to effectively automate this process and include additional data points to ensure highly accurate, real-time nightly room rates for transient hotel guests, without sacrificing additional margin.
 
To learn more about Diamond Resorts and the company’s enhanced Diamond Standard of Clean protocols visit DiamondResorts.com.

About Diamond Resorts

Diamond Resorts^® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact
Anna Sczepanski
diamond@goldin.com
646-660-8646

Guests Can Unplug, Reconnect and Explore the Outdoors at 12 Resorts Across the Country in Scenic Beach, Mountain and Desert Destinations

MAR. 16, 2021 (LAS VEGAS, Nev.) – Diamond Resorts®, a global leader in the hospitality, vacation ownership and entertainment industries, announces new “Vacation Unplugged” packages for families seeking drive-to adventures for spring break getaways. Many of Diamond’s properties feature condo-style accommodations with multiple bedrooms and fully equipped kitchens. With several drive-to destinations, guests who book these packages can enjoy the outdoors from California to North Carolina.

The “Vacation Unplugged” package is available at 12 Diamond-managed properties across the U.S. Guests can ski the breathtaking mountains of Brian Head, relax in the Sedona desert or soak up the sun in Avila Beach, California. From now until March 31, travelers can use the offer code UNPLUG and enjoy 10% off their booking of any 2-night minimum stay through May 26, 2021.

“Now more than ever, we are looking for ways to reconnect with what matters most,” said Mike Flaskey, CEO of Diamond Resorts. “We are proud to offer our members, owners and guests the opportunity to get back to doing what they love with the people they love. We hope this package inspires travelers to plan their next road trip and discover the countless scenic, outdoor destinations across our country.”

Resorts participating in the “Vacation Unplugged” promotion include:

• Sedona, Arizona: Bell Rock Inn, Sedona Summit, Los Abrigados Resort & Spa and The Ridge on Sedona Golf Resort
• Payson, Arizona: Kohl’s Ranch Lodge
• Ramona, California: Riviera Oaks Resort & Racquet Club
• Avila Beach, California: San Luis Bay Inn
• Brian Head, Utah: Cedar Breaks Lodge
• Williamsburg, Virginia: Greensprings Vacation Resort, The Historic Powhatan Resort
• Branson, Missouri: The Suites at Fall Creek
• Kitty Hawk, North Carolina: Beachwoods Resort

Known for providing members with once-in–a-lifetime entertainment experiences, Diamond Resorts is also proud to be one of the first companies to resume intimate, live concerts under strict safety protocols. Diamond Resorts members will have special access to reserve seats for upcoming #DiamondLIVE concerts in Las Vegas, Orlando, Virginia Beach and Maui, featuring musicians such as Jana Kramer, Lee Brice, Colt Ford, Cole Swindell, Travis Tritt and others.

Diamond Resorts accommodations feel like home. Perfect for family vacations, they feature multiple bedrooms and bathrooms, spacious dining and living areas, and many offer fully equipped kitchens and in-suite laundry.

To learn more about Diamond Resorts and the company’s expanded Diamond Standard of Clean protocols visit DiamondResorts.com.

About Diamond Resorts

Diamond Resorts^® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

To learn more about Diamond Resorts, visit DiamondResorts.com or follow @DiamondResorts on Twitter, Facebook and Instagram. To learn more about the Diamond Resorts Tournament of Champions, visit DiamondLPGA.com and follow @TheVacationDR on Twitter and Instagram. Join the social conversation with #DiamondLPGA.

Media Contact
Anna Sczepanski
diamond@goldin.com
646-660-8646

Diamond May Continue Litigation Seeking to Hold Schroeter Goldmark Bender Liable for Preying on Timeshare Owners

MAR. 15, 2021 (LAS VEGAS, Nev.) – Diamond Resorts^®, a global leader in the hospitality, vacation ownership and entertainment industries, announces another legal victory in Diamond v. Timeshare Exit Team (formerly known as Reed Hein), Schroeter, Goldmark & Bender P.S. (“SGB”), and attorney Mitchell Reed Sussman. A U.S. District Court Judge has denied SGB’s motion to dismiss the lawsuit for false advertising under the Lanham Act, tortious interference, numerous violations of Nevada Deceptive and Unfair Trade Practices Act and conspiracy. The lawsuit alleges that the defendants use false and misleading advertising to induce timeshare owners to stop making payments on their timeshare contracts, while charging the unsuspecting victims thousands (and sometimes tens of thousands) of dollars in upfront fees in exchange for no legitimate service.

Timeshare Exit Team falsely presents a “legal” solution to cancel a timeshare, a deception furthered by the use of law firm SGB to send perfunctory representation letters to falsely suggest active involvement of a licensed attorney. Rather, as Diamond alleges, Timeshare Exit Team’s exit services amount to nothing more than instructing timeshare owners to cease making payments leading to foreclosure or loan default, damaging the owners’ credit – hardly a solution worth the many thousands of dollars of fees these defendants charge for it. SGB pointed to these token letters claiming they amounted to protected activity for which it could not be sued.

The Court disagreed, finding first that Nevada’s Anti-Strategic Lawsuit Against Public Participation (anti-SLAPP) statute does not apply to Diamond’s Lanham Act claim. Then the Court found that SGB did not show that Diamond’s state law claims attacked “good faith” communication in furtherance of a protected right. Indeed, the Court noted that SGB “did not state that each (or even any) of the representation letters were sent in anticipation of litigation…”  Finally, the Court concluded that Diamond has a probability of prevailing on SGB’s litigation privilege defense because “Diamond presented prima facie evidence that no litigation was anticipated or under serious contemplation by the owners or SGB on the owners’ behalf…”

“We’re unfortunately seeing a significant rise in the number of exit company scams that are preying on timeshare owners,” said Mike Flaskey, CEO of Diamond Resorts. “Our top priority is protecting our members from unscrupulous companies who try to take advantage of them.”

Diamond Resorts reminds its owners that Attorneys General are also warning consumers and working to stop the deceptive acts of these companies. In addition to Washington Attorney General Bob Ferguson’s lawsuit against Timeshare Exit Team, Missouri Attorney General Eric Schmitt filed two separate lawsuits against timeshare exit companies. Numerous other agencies have also warned consumers about timeshare cancellation companies including the Better Business Bureau (BBB). 

Diamond Resorts encourages timeshare owners who may be interested in adjusting their contracts to contact their developer for options. To learn more about red flags and report possible fraudulent third-party exit activity, visit TimeshareCancellationAwareness.com or responsibleexit.com. 

About Diamond Resorts

Diamond Resorts^® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact
John Eddy
212-319-3451, ext. 648
diamond@goldin.com

Combines largest independent timeshare company with the strength of Hilton Grand Vacations’ brand and culture

Generates over $125 million in run-rate cost synergies, expected to be achieved in the first 24 months following close

Expands and diversifies HGV’s resort portfolio into over 20 new markets, adding additional drive-to destinations & sales centers while enhancing alignment with the Hilton network to widen customer reach

ORLANDO, Fla. (March 10, 2021) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or “the Company”) today announced that it has entered into a definitive agreement to acquire Diamond Resorts International, Inc. (“Diamond”) from funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”), funds managed by affiliates of Reverence Capital Partners (“Reverence”), and other Diamond stockholders, in a stock-based transaction with an equity value of approximately $1.4 billion. Under the terms of the agreement, the Apollo Funds and other Diamond stockholders will receive 34.5 million shares of HGV common stock, subject to customary adjustments.

The acquisition will combine the strength of HGV’s brand and culture with Diamond, 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 over 325,000 owners, and the combination will create the premier vacation ownership company with the broadest offering in the industry.

“I’m excited to announce our transformational agreement to add Diamond Resorts to the Hilton Grand Vacations family, accelerating our next phase of growth,” said Mark Wang, president and CEO of Hilton Grand Vacations. “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. 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. For our valued team members, owners and guests, this combination creates new opportunities to provide exciting destinations and memorable vacation experiences while continuing to provide exceptional levels of service.”

“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 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 HGV family and look forward to achieving new heights of excellence.”

Transaction Highlights

• Enables significant value creation from scale: combines the largest independent timeshare
  company with Hilton Grand Vacations’ strong brand and culture
  • Expands and diversifies HGV’s resort portfolio into over 20 new markets.
  • The combined company will have 720,000 owners, 154 resorts and 48 sales centers.
• Diversifies HGV’s portfolio: adds additional drive-to destinations and allows HGV to leverage the Hilton network to widen customer reach
  • Doubles the number of vacation options for the combined owner base.
  • Diamond’s complementary footprint will bolster HGV’s strong network of beach, attraction-based, and urban markets, while adding new regional drive-to destinations in outdoor, desert and ski locations.
  • Broader range of pricing and product options will widen customer reach, enhancing alignment with the 112 million Hilton Honors members.
• Accelerates launch of HGV-branded trust product offering: rebrand Diamond’s properties over time to drive revenue growth in a new customer segment
  • Combining HGV’s points-based deeded product with Diamond’s points-based trust structure will allow the Company to cater to a wider audience, attract more new buyers and drive incremental growth in a capital-efficient manner.
  • HGV’s deeded product provides premium pricing, inventory sourcing flexibility, and the ability to pre-sell projects to support strong project-level cash flow, while giving buyers and owners the value of guaranteed availability.
  • The introduction of a trust product allows for lower barriers to ownership, reduced inventory delivery volatility and inventory recycling, enabling smoother sales and upgrades while providing buyers and owners network and pricing flexibility.
  • Integrates Diamond’s innovative Events of a Lifetime® experiential sales and marketing platform that drives strong engagement and Volume Per Guest (VPG) premiums with HGV’s owner base.
• Generates over $125 million in run-rate cost synergies, expected to be achieved in the first 24 months following close
  • Significant future revenue synergy opportunities.
• Increases recurring EBITDA streams and drives overall cash flow, with adjusted free cash flow per share accretion in year one
  • The combined company is expected to generate steady-state adjusted free cash flow conversion of 50-60%, driven by its realization of cost synergies, significant inventory pipeline, acquired inventory and reduced long-term inventory spending.
  • Adding new owners embeds additional value for the company over the life of their ownership.
  • The combined company is anticipated to generate approximately 50% of Segment Adjusted EBITDA from recurring sources, including club membership fees, property management fees and financing fees.
• Compelling valuation and deal structure facilitate financial flexibility and deleveraging
  • Significant cash flow generation is expected to allow for rapid deleverage, returning to below 3.0x within 24 months.
  • Pro-forma liquidity of $1.0 billion at year-end 2020.

Transaction Details

Under the terms of the agreement, the Apollo Funds and the other Diamond stockholders, including the Reverence Funds, are expected to receive 34.5 million shares of HGV common stock, valued at approximately $1.4 billion, subject to customary adjustments. Upon transaction close, existing HGV shareholders will own approximately 72% of the combined company and the Apollo Funds will own approximately 28% of the combined company.

The transaction, which was unanimously approved by the Board of Directors for both companies, is expected to close in the summer of 2021, subject to customary closing conditions and regulatory approvals. The issuance of HGV common stock in the transaction is subject to shareholder approval.

HGV’s management team, including President & Chief Executive Officer Mark Wang, Chief Financial Officer Dan Mathewes, and Chief Operating Officer Gordon Gurnik, will continue to serve in their current roles upon transaction close. HGV’s Board of Directors will be expanded from 7 to 9 members, and the Apollo Funds will have the right to appoint two directors as long as their equity ownership remains at or above 15% of the outstanding stock at closing and one director as long as their equity ownership remains at or above 10% of the outstanding stock at closing.

Advisors

BofA Securities is acting as exclusive financial advisor for HGV, and Alston & Bird LLP, Simpson Thacher & Bartlett LLP, and Foley & Lardner LLP are acting as legal counsel. Credit Suisse is acting as lead financial advisor and Goldman Sachs is also acting as financial advisor for Diamond, with Paul, Weiss, Rifkind, Wharton & Garrison LLP acting as legal counsel.

HGV has received financing commitments from BofA Securities, Deutsche Bank and Barclays with PJT Partners acting as capital markets advisor to HGV.

Conference Call

HGV will host a conference call for analysts and investors today at 8:30 a.m. EST.

To access the live teleconference, please dial 1-877-407-0784 in the U.S./Canada (or +1-201-689-8560 internationally) approximately 15 minutes prior to the teleconference’s start time. A live webcast will also be available by logging onto the HGV Investor Relations website at investors.hgv.com. The conference call will be webcast live and accessible by navigating to the following link: https://event.on24.com/wcc/r/3058978/5D17131468865BE0EF218C6C1EB0E6D0.

A replay will be available beginning three hours after the teleconference’s completion through March 17, 2021. To access the replay, please dial 1-844-512-2921 in the U.S. (+1-412-317-6671 internationally) using ID# 13717389. A webcast replay and transcript will be available within 24 hours after the live event at https://investors.hgv.com.

About Hilton Grand Vacations Inc.

Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company. With headquarters in Orlando, Florida, Hilton Grand Vacations develops, markets and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. The Company also manages and operates two innovative club membership programs: Hilton Grand Vacations Club® and The Hilton Club®, providing exclusive exchange, leisure travel and reservation services for more than 325,000 club members. For more information, visit www.hiltongrandvacations.com.

About Apollo

Apollo is a leading global investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo, among others. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in credit, private equity and real assets funds. For more information about Apollo, please visit www.apollo.com.

About Diamond Resorts

Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

About Reverence Capital Partners

Reverence Capital Partners is a private investment firm focused on thematic investing in leading global, middle-market Financial Services businesses through control and influence oriented investments in 5 sectors: (1) Depositories and Finance Companies, (2) Asset and Wealth Management, (3) Insurance, (4) Capital Markets and (5) Financial Technology/Payments. The firm was founded in 2013, by Milton Berlinski, Peter Aberg and Alex Chulack, who collectively bring over 90 years of advisory and investing experience across a wide range of financial services sectors. For more information visit www.reverencecapital.com

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management’s expectations as to our future, and are based on management’s beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time we make such statements. Forward-looking statements include all statements that are not historical facts, including those related to our revenues, earnings, cash flow and operations, and may be identified by terminology such as the words “outlook,” “believe,” “expect,” “potential,” “goal,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “projects,” predicts,” “intends,” “plans,” “estimates,” “anticipates” “future,” “guidance,” “target,” or the negative version of these words or other comparable words.

We caution you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond our control, that may cause our actual results, performance or achievements to be materially different from the future results. Factors that could cause our actual results to differ materially from those contemplated by our forward-looking statements include: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability to complete the proposed merger due to the failure to obtain stockholder approval for the proposed merger or the failure to satisfy other conditions to completion of the proposed merger, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; risks related to disruption of management’s attention from HGV’s ongoing business operations due to the transaction; the effect of the announcement of the proposed merger on HGV’s relationships, operating results and business generally; the risk that the proposed merger will not be consummated in a timely manner; exceeding the expected costs of the merger; the material impact of the COVID-19 pandemic on our business, operating results, and financial condition; the extent and duration of the impact of the COVID-19 pandemic on global economic conditions; our ability to meet our liquidity needs; risks related to our indebtedness; inherent business risks, market trends and competition within the timeshare and hospitality industries; our ability to successfully source inventory and market, sell and finance VOIs; default rates on our financing receivables; the reputation of and our ability to access Hilton brands and programs, including the risk of a breach or termination of our license agreement with Hilton; compliance with and changes to United States and global laws and regulations, including those related to anticorruption and privacy; risks related to our acquisitions, joint ventures, and other partnerships; our dependence on third-party development activities to secure just-in-time inventory; the performance of our information technology systems and our ability to maintain data security; regulatory proceedings or litigation; adequacy of our workforce to meet our business and operation needs; our ability to attract and retain key executives and employees with skills and capacity to meet our needs; and natural disasters or adverse geo-political conditions. Any one or more of the foregoing factors could adversely impact our operations, revenue, operating margins, financial condition and/or credit rating.

For a more detailed discussion of these factors, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in HGV’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2021, as such information may be updated from time to time in our annual reports, quarterly reports, current reports and other filings we make with the Securities and Exchange Commission.

HGV’s forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any “forward looking statement” made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.

Additional Information and Where to Find It

This filing may be deemed solicitation material in respect of the proposed acquisition of Diamond Resorts by HGV. In connection with the proposed merger transaction, HGV will file with the SEC and furnish to HGV’s stockholders a proxy statement and other relevant documents. This filing does not constitute a solicitation of any vote or approval. Stockholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed merger or incorporated by reference in the proxy statement because they will contain important information about the proposed merger.

Investors will be able to obtain free of charge the proxy statement and other documents filed with the SEC at the SEC’s website at https://www.sec.gov. In addition, the proxy statement and HGV’s annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through HGV’s website at https://investors.hgv.com/. as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC.

The directors, executive officers and certain other members of management and employees of HGV may be deemed “participants” in the solicitation of proxies from stockholders of HGV in favor of the proposed merger. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of HGV in connection with the proposed merger will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Company’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in its definitive proxy statement filed with the SEC on Schedule 14A on March 26, 2020.

Non-GAAP Financial Measures

This press release includes discussions of terms that are not recognized terms under U.S Generally Accepted Accounting Principles (“GAAP”), and financial measures that are not calculated in accordance with GAAP, such as Adjusted EBITDA. We derived any non-GAAP financial measures from our audited consolidated financial statements, and Dakota Holdings, Inc.’s financial statements. We believe such non-GAAP measures provide useful information to our investors about us and our financial condition and results of operations since these measures are used by our management to evaluate our operating performance and by securities analysts and investors as common financial measures for comparison purposes in our industry. See our most recent Annual Report on Form 10-K for a more detailed discussion of the meanings of these terms, our reasonings for providing non-GAAP financial measures and full reconciliations of these measures to the most directly comparable GAAP financial measure.

HGV Investor Contact:
Mark Melnyk
407-613-3327
mark.melnyk@hgv.com

HGV Media Contact:
Lauren George
407-613-8431
lauren.george@hgv.com

Diamond Media Contact:
John Eddy
212-319-3451, ext. 648
diamond@goldin.com

Host of LPGA Champions-Only Tournament Offers Guests Unique Experiences Like Private Events with Annika Sörenstam, Brian Gay & Nate Lashley at Resorts Across the Country

MAR. 4, 2021 (LAS VEGAS, Nev.) – Diamond Resorts^®, a global leader in the hospitality, vacation ownership and entertainment industries, announces exclusive Golf Getaway packages for travelers looking to hit the links during their next vacation. Known for hosting the LPGA’s most unique professional golf tournament, Diamond is bringing the action to their resorts across the country. Diamond members also have special access to exclusive events with golf stars, including Annika Sörenstam, Brian Gay, Nate Lashley, Blair O’Neal and Brittany Lincicome throughout the year.

The limited-time Golf Getaway package is available at Diamond-managed properties in Sedona (travel through Nov. 24, 2021) and Orlando (travel through June 30, 2021), including Mystic Dunes Resort & Golf Club, The Ridge on Sedona Golf Resort, Sedona Summit, Bell Rock Inn and Los Abrigados Resort & Spa. Guests can book this 3-night Golf Getaway package until April 30, 2021, for travel through the dates specified above. The package includes spacious accommodations at the resort of their choice and two rounds of golf. Each package will also include access to resort amenities, including pools and fitness centers at select properties. Diamond’s condo-style accommodations are perfectly suited for social distancing and feature multiple bedrooms and bathrooms, fully equipped kitchens, dining and living areas, home offices and in-suite laundry.

“It has been incredible to see the popularity of golf skyrocket in recent years, especially among younger generations,” said Mike Flaskey, CEO of Diamond Resorts. “We’ve seen this trend first-hand at our properties and with the Diamond Resorts Tournament of Champions. This year’s tournament was the most-watched season opener in 12 years and ratings have grown 10 percent year-over-year. Golf is the perfect way to stay active, get outdoors and have fun, and we are proud to offer once-in-a-lifetime experiences to novices and pros alike!”

According to the National Golf Foundation, rounds of golf played are up nearly 50 percent this winter compared to 2019, and up significantly over the entire year as players flock to the socially distant sport.

Known for providing its members with unforgettable entertainment experiences, Diamond Resorts has resumed private events under strict safety protocols. In January, the Diamond Resorts Tournament of Champions opened the LPGA season in Orlando. Throughout the year, Diamond members will have special access to reserve spots at upcoming events with Diamond Celebrity ambassadors like country music stars Jana Kramer, Colt Ford, Cole Swindell, and sports legends like Michael Waltrip and golf greats.

ABOUT DIAMOND RESORTS^®

Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

To learn more about Diamond Resorts, visit DiamondResorts.com or follow @DiamondResorts on Twitter, Facebook and Instagram. To learn more about the Diamond Resorts Tournament of Champions, visit DiamondLPGA.com and follow @TheVacationDR on Twitter and Instagram. Join the social conversation with #DiamondLPGA.

MEDIA CONTACT
Anna Sczepanski
diamond@goldin.com
646-660-8646 

Upcoming Episodes Feature Exclusive Interviews with Country Music Legends and Diamond Resorts CEO Mike Flaskey

FEB. 16, 2021 (LAS VEGAS, Nev.) — Diamond Resorts^®, a global leader in the hospitality, vacation ownership and entertainment industries, announces the premiere of the latest installment of their “Moments with Diamond” video series.

“Moments with Diamond” initially launched in 2019, featuring exclusive, behind-the-scenes interviews with celebrities from the sports and entertainment industries. This year, the series kicks off with interviews from country music legends Toby Keith, Travis Tritt, Lee Brice, Cole Swindell, Colt Ford and Randy Houser.

“We had a blast filming the latest series of ‘Moments with Diamond’ and can’t wait to share some very special moments with viewers,” said Diamond Resorts CEO Mike Flaskey. “From diving into country music icon Toby Keith’s military efforts to hearing about the latest music from Travis Tritt before anyone else, this series is truly unique and jam-packed with some of country music’s biggest stars.”

Diamond hosts hundreds of live member-exclusive events each year to carry out their mission of providing unparalleled vacation experiences. For the last two years, the company’s flagship event, the Diamond Resorts Tournament of Champions, has provided members a chance to be a part of a live audience during a “Moments with Diamond” film session while Flaskey speaks with some of their favorite sports, entertainment and music celebrities. Past Moments with Diamond mini-series have featured MLB Hall of Fame pitcher John Smoltz, former star of ABC’s “The Bachelor” Ben Higgins, 2-time Daytona 500 winner Michael Waltrip and 8-time LPGA champion Brittany Lincicome.

This year, the video series begins with an interview from country music artist and “Class of ‘89” legend Travis Tritt, who recently joined Diamond’s roster of celebrity ambassadors. Flaskey sat down with Tritt at his first #DiamondLIVE concert at the House of Blues in Orlando, Fla. to learn more about the country superstar. The video interview with Tritt is available now here.

Stay tuned for upcoming installments releasing this month with country artists Toby Keith, Colt Ford, Cole Swindell, Lee Brice and Randy Houser, filmed in front of a live audience of Diamond members at the 2021 Tournament of Champions in January.

About Diamond Resorts

Diamond Resorts^® offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

Media Contact
diamond@goldin.com