If you’re curious about who owns Diamond Resort, you’re not alone. This timeshare company has been around for over 20 years, and it’s not always clear who is behind the organization. In this article, we’ll take a closer look at the ownership of Diamond Resort and what it means for timeshare owners.
History of Diamond Resort
Diamond Resort was founded in 1996 as Sunterra Corporation. Over the years, the company grew through acquisitions of other timeshare companies and eventually rebranded as Diamond Resorts in 2013. Today, Diamond Resorts operates more than 420 vacation destinations across the world, with over 100 of those being in the United States.
Who Owns Diamond Resort?
Diamond Resorts is currently owned by a private equity firm called Apollo Global Management. Apollo acquired Diamond Resorts in 2016 for $2.2 billion. Apollo is a large investment firm that manages over $400 billion in assets across various industries.
Who is Apollo Global Management?
Apollo Global Management was founded in 1990 by Leon Black, Joshua Harris, and Marc Rowan. The company started out as an investment fund focused on distressed debt but has since expanded to include private equity, credit, and real estate investments.
Today, Apollo is one of the largest private equity firms in the world with over $400 billion in assets under management. The firm has invested in a variety of companies across different industries including entertainment, hospitality, and healthcare.
What Does This Mean for Timeshare Owners?
For timeshare owners who are invested in Diamond Resorts properties, the ownership change to Apollo should not have any immediate impact on their ownership or ability to use their timeshare. However, it’s important to note that private equity firms like Apollo often have a focus on maximizing profits for their investors.
This could mean that there may be changes to the way Diamond Resorts operates in the future, such as changes to maintenance fees or the availability of certain properties. It’s important for timeshare owners to stay informed and keep an eye on any changes that may affect their ownership.
Conclusion
In conclusion, Diamond Resorts is currently owned by Apollo Global Management, a private equity firm with over $400 billion in assets under management. While this ownership change shouldn’t immediately impact timeshare owners, it’s important for them to stay informed about any changes that may occur in the future. As always, it’s important to do your research and understand the implications of any investment before making a decision.