Leading hospitality company Diamond Resorts International® has acquired a substantial portion of the assets of Pacific Monarch Resorts, Inc.
The deal will add nine resorts, located in California, Nevada, Utah and San Jose del Cabo, Mexico, as well as approximately 75,000 owners to Diamond Resorts International®.
“We are delighted to finalize this acquisition and bring these resorts into our global network of properties,” said Stephen J. Cloobeck, Chairman and Chief Executive Officer of Diamond Resorts International®.
Pacific Monarch has resorts in:
Cabo Azul Resort in San Jose del Cabo, Mexico
Cancun Resort in Las Vegas, NV
Cedar Breaks Lodge & Spa in Brian Head, UT
Desert Isle of Palm Springs in Palm Springs, CA
Palm Canyon Resort & Spa in Palm Springs, CA
Riviera Beach & Spa Resort in Capistrano Beach, CA
Riviera Oaks Resort & Racquet Club in Ramona, CA
Riviera Shores Resort in Capistrano Beach, CA
Tahoe Seasons Resort in South Lake Tahoe, CA
Mr. Cloobeck added: “Our growth strategy is clear: to acquire properties in leading destination locations at good valuations, to make the necessary investments in plant and equipment to bring them up to our standards and to transform the service levels by introducing our industry-leading service program, The Meaning of Yes®. We look forward to integrating the current Monarch Grand Vacation owners into the broader Diamond Resorts International® network, offering opportunities to vacation at our more than 200 resorts in 28 countries around the world.”
About Diamond Resorts International®
Headquartered in Las Vegas, Diamond Resorts International® is one of the largest hospitality companies in the world with more than 200 branded and affiliated resorts and over 27,000 guest beds in 28 countries. It has destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa. Offering simplicity, choice and comfort to more than 418,000 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.