The Royal Palm Beach Resort in St. Maarten, which www.hiltongrandvacatons.com advertises as a Hilton Vacation Club.
Hilton Grand Vacations, which had announced in March 2021 that it will be acquiring Diamond Resorts, is already advertising vacation ownerships at Royal Palm and at Flamingo under the Hilton Grand Vacations brand, on its website www.hiltongrandvacations.com. The acquisition has since closed, according to media reports. The website indicates that the acquisition will go live in Q3. “Flamingo Beach, a Hilton Vacation Club – coming soon in Q3, 2022 Experience the diverse culture and natural beauty of the Caribbean,” reads a message on the website.
According to www.hiltongrandvacations.com, Royal Palm, a Hilton Vacation Club and Flamingo Beach, a Hilton Vacation Club offer everything one will need for a relaxing Caribbean retreat and getaway. “The resort is located on the Dutch side of the island and is within walking distance to Kimsha Beach and Simpson Bay. Spend your days relaxing on the beach, enjoying a cold drink at the swim-up bar in the outdoor pool or keeping up with your exercise routine at the fitness centre. Return to your spacious accommodations and enjoy the last light of the day from your private balcony,” The website says about Royal Palm.
According to a press release issued in March 2021, Hilton’s acquisition of Diamond Resorts will create the premier leisure operator with the broadest offering in the vacation ownership industry. Hilton Grand Vacations (HGV) had announced that it has entered into a definitive agreement to acquire Diamond Resorts International from funds managed by affiliates of Apollo Global Management Inc., funds managed by affiliates of Reverence Capital Partners 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, according to the release, 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 am excited to announce our transformational agreement to add Diamond Resorts to the Hilton Grand Vacations family, accelerating our next phase of growth,” Mark Wang, president and chief executive officer (CEO) of Hilton Grand Vacations, was quoted as saying in the release. “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.”
St. Maarten Tourism Bureau Director May-Ling Chun had also alluded to the acquisition in February of this year during a Caribbean Tourism Organisation (CTO) two-day virtual destination media briefing, in which 17 Caribbean destinations updated regional media operatives on how their destination is doing. French St. Martin also provided an update during the forum.
Source: The Daily Herald