Purchase Adds Five Resorts and 7,400 Owners to Diamond Resorts International® Network
Diamond Resorts International® 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