In one of the largest mergers in the timeshare industry, Hilton Grand Vacations (HGV) Inc. has now formally acquired Diamond Resorts International Inc. This merger now stands to set HGV as one of the largest timeshare corporations right behind Wyndham with Marriot close in tail, together they represent the “big 3” timeshare conglomerates. The merger was announced earlier this year and over the past few months has been in the process of finalizing. The companies seek to fully combine the two organizations into one, but for some time even after the completion of the merger they will remain separate booking and named entities. They plan to eventually rebrand diamond as a Hilton subsidiary using the Hilton name. This merger more than doubles Hiltons share of the timeshare market adding in 380,000 owners for a grand total of 710,000 owners across 154 resorts.
Hilton formally announced its merger in a press release on August 2, 2021.
While on its face it may seem like a good step for Diamond owners, the reality can be much different for these types of mergers. We have reported in the past on some other mergers such as Holiday Inn Vacation Club and Silverleaf Resorts. In that instance, the merger led to a reduction of the acquired companies booking rights. Because they were owners through the prior resort, the new larger corporation stated their points were “no good” with the new system, or they can only book at the new locations if they “upgrade”. The fear (as in the case of Holiday Inn’s purchase of Silverleaf Resorts based in Texas) is that the acquisition can just be used as a proxy to bring owners in for more upgrades under the impression that it is due to the merger. In Hilton’s case, the consumer lawyers at the Abrams Firm (theTimeshareLawFirm.com) are optimistic that the merger is a net benefit to the associated timeshare owners from Diamond. But owners should always be wary to not be deceived about your rights as an owner and how they may be influenced by the merger. To be safe call a Timeshare Attorney to discuss the matter (Pro Bono).
As Attorneys who have worked in timeshare relief for some time, we would caution owners in any merger to monitor the future of the changes that may happen with their resort options and booking. If you are then concerned with how this merger might affect your rights as a Diamond Owner, or if you have been impacted, please reach out to our law firm at 360-918-8196, or get started here. We offer pro-bono legal consultations to review your case, advise you about the law and inform you about what your options may be.