Hilton Grand Vacations Inc. announced that it has completed the previously announced acquisition of Diamond Resorts International Inc. from funds managed by affiliates of Apollo Global Management Inc. funds managed by affiliates of Reverence Capital Partners, and other Diamond stockholders. The acquisition creates the largest upper upscale and luxury timeshare operator in a stock-based transaction with an equity value of approximately $1.4 billion. This strategic combination creates the most expansive industry offering, leveraging HGV’s strong brand and net owner growth along with Diamond’s diverse network of locations and strength in experiential offerings. With a total of 710,000 owners, 48 sales centers, and over 20 new markets, HGV anticipates significant value creation from scale.