Hilton Grand Vacation Acquisition of Diamond Resorts

There have been reports of Diamond members attending sales presentations being told that they will have access to Hilton properties because Hilton is acquiring Diamond Resorts. The acquisition has not been completed and it is not been determined that Diamond members will have access to Hilton properties. CEO Wang was quoted saying they are planning a separate brand called Hilton Vacation Club for Diamond members.

MARK WANG: Look, one of the benefits with Diamond and what we're planning to do is we're going to be-- we're launching a new brand called Hilton Vacation Club. And Hilton Vacation Club will be positioned just below Hilton Grand Vacation Club, which is an upper upscale brand. And Hilton Vacation Club will be an upscale brand. And the entry price points are significantly lower, about $20,000 lower to-- to enter the system. https://finance.yahoo.com/video/hilton-grand-vacations-ceo-diamond-154939235.html

https://www.hiltongrandvacations.com/en/news/press-releases/hgv-to-acquire-diamond