🠈 Diamond Resorts 🠊
Diamond Resorts is a timeshare company with over 375 resorts in their network. It appears that the public at large can check out rooms for fixed stays at resorts. I have not tried the site.
I have never used a timeshare. There are many people who complain about timeshares. The people who complain say the companies use high-pressure tactics and don't disclose all costs. People should research timeshares carefully before buying.
This section shows corporate transactions that I encounter in my research of who owns what in the community.
- 1992: Osamu Kaneko, Andrew J. Gessow, and Steven C. Kenninger, who were real estate investors, started a company to acquire and develop timeshare resorts. The developed an LLC for each resort.
- 1996: Kaneko, Kenninger, and Gessow incorporated
1996: Company bought a property in Avila Beach and changed its name to Signature Resorts, Inc..
- 1996: Signature Resorts held an IPO.
- 1997: The company expanded aggressively. Its stock peaked at $32.17 per share.
- 199?: The company was making loans to people who couldn't pay the loan. The company's stock fell to a low of $0.05 per share.
- 1998: The company changed its name to Sunterra
- 2000: an audit showed they had $43 million in delinquent accounts, $810 in debt. They declared bankruptcy. The stock had a $376 million loss.
- 2003: Company emerged from bankruptcy
- 2004: Sunterra acquired Jardines de Sol in Lanzarote, Spain.
- 2004: Sunterra acquired Alvechurch Waterway Holidays which operated eight English canal boats.
- 2007: Stephen Cloobeck acquired Sunterra Corporation and renamed it Diamond Resorts International.
- 2013: Diamond Resorts raised $217 million in an IPO on the NYSE with symbol DSII. 3)
- 2015: DRI acquired Gold Key Resorts, which had 5 resorts, for $167.5 million.
- 2015: DRI acquired Intrawest Resort Club Group which had nine resorts and 22,000 members.
- 2016: Apollo Global Management acquired DRI for $2.2 billion.4
- 2018: DRI dropped the word "International" from their name to become Diamond Resorts.
- 2018: Diamond Resorts acquired The Modern Honolulu in Hawaii.
- Encyclopedia.com - Sunterra (Drawn 10/8/2019)
- Wikipedia - Diamond Resort (Drawn 10/8/2019)
- Reuters - DRII IPO (Drawn 10/14/2019)
- https://www.reuters.com/article/us-diamond-reso-m-a-idUSKCN0ZF1JV (Drawn 10/14/2019)
- Reuters - Apollo by Diamond (Drawn 8/28/2020)
- Gila County - Lodging: Kohl's Ranch Lodge
- Navajo County - Lodging: PVC at The Roundhouse Resort
- Phoenix Color - Resorts: Diamond Resorts and Hotels
- Pima County - Lodging: Varsity Clubs of America
- Yavapai County - Lodging: Diamond Resorts and Hotels
- Fort Collins Color - Lodging: Crags Lodge
- Cedar City - Lodging: Cedar Breaks Lodge and Spa
- Iron County - Iron Color: Cedar Breaks Lodge and Spa
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