Diamond Resorts International Closes Acquisition of Aegean Blue (Greece)
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Diamond Resorts International Closes Acquisition of Aegean Blue (Greece)
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Category: Europe - Greece - Industry economy -
Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2012-10-09
Purchase Adds Five Resorts and 7,400 Owners to Diamond Resorts International Network
DIAMOND RESORTS INTERNATIONAL, a global leader in the hospitality and vacation ownership industries, today announced that it has closed, through its subsidiary Diamond Resorts AB Acquisition Company, Ltd, the acquisition of all of the issued and outstanding shares of Aegean Blue Holdings Plc. This transaction adds five resorts located on the Greek islands of Rhodes and Crete, as well as approximately 7,400 owners to Diamond Resorts International.
“Our growth strategy is clear as the expansion of the Diamond portfolio remains a high priority in effort to provide more destination choices to our owners, members and guests,” said Stephen J. Cloobeck, Chairman and Chief Executive Officer of Diamond Resorts International. “We are pleased to finalize this acquisition and bring these resorts into our portfolio. We look forward to integrating the current Aegean Blue owners into the broader Diamond Resorts International network, offering opportunities to vacation at our more than 220 resorts in 28 countries around the world. In addition, we look forward to an expanded relationship with Guggenheim Partners.” Financing for the acquisition of Aegean Blue Holdings Plc was provided by Guggenheim Partners.
Aegean Blue has resorts in the following locations:
- Village Heights Golf Resort, Hersonissos, Crete, Greece
- Sun Beach Holiday Club, Ialyssos, Rhodes, Greece
- Leoniki Residence, Rethymnon, Crete, Greece
- Grand Leoniki, Rethymnon, Crete, Greece
- The Village Holiday Club, Koutouloufari, Crete, Greece
Diamond Resorts International, with global headquarters in Las Vegas, Nevada, is one of the largest hospitality companies in the world with more than 220 branded and affiliated resorts and over 27,000 guest beds in 28 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australia and Africa. Offering simplicity, choice and comfort to more than 497,000 owners and members through the branded hospitality service of approximately 5,000 team members worldwide, Diamond Resorts International is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime.
Annually, nearly 1.4 million owners, members and guests enjoy the simplicity, choice and comfort Diamond Resorts International offers through our branded hospitality experience.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $125 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients across North America, Europe and Asia from more than 25 offices in nine countries.
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