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Owners Timeshare News

Hilton Grand Vacations to Buy Diamond Resorts in Landmark Timeshare Acquisition.

In yet another major timeshare industry move, HGV will buy Diamond Resorts for $1.4 billion.

Gemma Lolos - Mar 10, 2021
Hilton Hawaiian Village's Lagoon Tower. Both Diamond and Hilton Grand Vacation owners will be able to access an expanded portfolio of resorts. Image owned by Hilton Grand Vacations.

It’s been a major year for timeshare. First, Wyndham Destinations purchased (and rebranded itself as) iconic travel brand Travel + Leisure for $100 million. Now, Hilton Grand Vacations has purchased Diamond Resorts from Apollo Global Management for $1.4 billion.

Wyndham’s Travel + Leisure acquisition has been interpreted as a play to bring one of the largest timeshare brands to a new generation of travelers — specifically, millennials. On the other hand, Hilton Grand Vacations’ acquisition of Diamond Resorts reads more like a straightforward expansion of their brand portfolio. Hilton Grand Vacations will acquire 92 resorts, while 400,000 current Diamond owners will join the Hilton brand (Diamond reports roughly 75,000 more owners than Hilton).

In their press release announcing the merger, a spokesperson for Hilton Grand Vacations noted that “Combining HGV’s points-based deeded product with Diamond’s points-based trust structure will allow the Company to cater to a wider audience.” However, it’s still unclear what exactly this will mean for owners of the combined brand. Inquiring minds want to know: will HGV owners switch to a strictly points-based system (as opposed to home week-based points)? Or will HGV and Diamond owners maintain separate ownership models? One thing, however, is for sure: the merger will double resort options for owners of both brands.

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