Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 7:43 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #46. Diamond Resorts International — Pacific Monarch Resorts and Island One
Acquirer:
Diamond Resorts International (DRII)
Acquiree:
Pacific Monarch Resorts and Island One
Details:
DIAMOND RESORTS INTERNATIONAL, a global leader in the hospitality and vacation ownership industries, today announced the closing of two strategic acquisitions, adding Island One and the remaining portion of Pacific Monarch Resorts to Diamond's network. Diamond has acquired the management contracts for each company's properties, and added Island One's owner families to Diamond's portfolios. Diamond had previously acquired Pacific Monarch's other management agreements and owner families in 2012. The closings of both acquisitions were contingent upon the completion of Diamond's initial public offering, which closed on July 24, 2013.
Diamond Resorts International is a hospitality and vacation ownership industry. As of Jan 31 2016, Co.'s resort network consisted of 379 vacation destinations, which included 109 resorts properties that Co. managed, and 250 affiliated resorts and hotels and 20 cruise itineraries. Co. provides a vacation ownership program whereby members acquire vacation ownership interests, in the form of points. Members receive an annual allotment of points depending on the number of points purchased, and they can use these points to stay at destinations within Co.'s network of resort properties. Co.'s has two segments: hospitality and management services and vacation interest sales and financing.
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