Diamondrock Hospitality Company
#4882
Rank
$1.66B
Marketcap
United States
Country
Mr. Mark W. Brugger (Co-Founder, Pres, CEO & Director)
Mr. Jeffrey John Donnelly C.F.A. (Exec. VP & CFO)
Mr. Troy G. Furbay (Exec. VP & Chief Investment Officer)
Summary
History
Diamond Resorts launched the Diamond Resorts Invitational in 2013 to benefit Florida Hospital for Children. Through the golf tournament, the company has raised a total of more than $3.1 million to the children's hospital. In March 2018, the company announced it was sponsoring a new golf tournament, the Diamond Resorts Tournament of Champions, with the LPGA as an official season event.In October 2015, DRI bought out Gold Key Resorts for $167.5 million. This acquisition added five vacation ownership resorts in Virginia Beach, Virginia, and one in the Outer Banks, North Carolina. That same month, Diamond Resorts pledged to match all new donations made to the Diamond Resorts International Foundation, a recognized 501 organization, in 2017 up to $1 million to support Hurricane Irma relief efforts.Diamond Resorts acquired Intrawest Resort Club Group in November 2015, adding nine resorts and 22,000 members. After the acquisition, Diamond Resorts re-branded the Intrawest Resort Club Group as Embarc Resorts.On June 29, 2016, Apollo Global Management made a successful offer to purchase Diamond Resorts International.On December 23, 2016 Arizona Attorney General Mark Brnovich announced a settlement of $800,000 with Diamond Resorts. As part of the settlement, customers who bought their timeshares under false pretenses could relinquish them.Michael Flaskey was named chief executive officer of the company in March 2017.On January 18, 2018, the company underwent a brand refresh, updating its logo and officially dropping International from its name to be known as Diamond Resorts.Diamond Resorts announced in March 2018 that the company was partnering with the LPGA to launch the Diamond Resorts Tournament of Champions. The tournament begins the LPGA's 2019 season and features tournament winners from the previous two LPGA seasons, along with celebrity participants. The Diamond Resorts Tournament of Champions replaces the golf tournament the company previously sponsored, the Diamond Resorts Invitational.
That same month, acquired Amber Vacation Club in March 2018 and will assume operations at Amber's managed resorts, Sunrise Ridge Resort in Pigeon Forge, Tennessee and Alhambra Villas and Alhambra at Poinciana in Kissimmee, Florida.In April 2018, Diamond Resorts announced it had acquired The Modern Honolulu, a boutique hotel in Honolulu, Hawaii.In January 2020, Diamond Resorts partnered with Highgate to rent units in two properties in New York City.In March 2021, Apollo Global agreed to sell Diamond Resorts to Hilton Grand Vacations for $1.4 billion. The acquisition was completed on August 2, 2021.
Mission
Vision
Key Team
Mr. William J. Tennis (Exec. VP, Gen. Counsel & Corp. Sec.)
Mr. Justin L. Leonard (Exec. VP & COO)
Mr. Dustin Resnick (VP of Acquisitions and Investments)
Ms. Briony R. Quinn CPA (Sr. VP & Treasurer)
Mr. Ben Nelson (VP & Corp. Controller)
Recognition and Awards
References
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Mr. Mark W. Brugger (Co-Founder, Pres, CEO & Director)
Mr. Jeffrey John Donnelly C.F.A. (Exec. VP & CFO)
Mr. Troy G. Furbay (Exec. VP & Chief Investment Officer)