🠈  Diamond Resorts  🠊

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.

Corporate History

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.

References:

1. Encyclopedia.com - Sunterra (Drawn 10/8/2019)
2. Wikipedia - Diamond Resort (Drawn 10/8/2019)
3. Reuters - DRII IPO (Drawn 10/14/2019)
4. https://www.reuters.com/article/us-diamond-reso-m-a-idUSKCN0ZF1JV (Drawn 10/14/2019)
5. Reuters - Apollo by Diamond (Drawn 8/28/2020)

Directory Listings:

• 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

Prev ~ ~ Index ~ ~ Next