As we ring in the year 2017, it’s always good to take the time to reflect on the year gone by. At SellMyTimeshareNow.com, it’s only natural we want to take a look back on all the timeshare news that has happened within the industry. From acquisitions to new resorts, there was a full year of news! Take a look at the top five timeshare news 2016 stories that engaged and excited us.
Mid January, The Strand Hotel in NYC was purchased by Marriott Vacation Worldwide. This means The Strand will now be included in the desirable Marriott Vacation Club vacation ownership program. The rebranding happened as quickly as March 2016 and was opened to Marriott Vacation Club shortly thereafter.
This purchase is important because it gives members of the Marriott Vacation Club yet another quality travel opportunity. The Strand is located right in the heart of Manhattan where visitors can experience the vibrant energy and excitement of the city that has so much to offer in terms of dining, entertainment, and shopping.
More big Marriott news came about in early February with Delta Hotels joining their coveted rewards program. With Delta Hotels joining the loyalty program, members can now earn points or miles and Elite night credits that can be used for free night stays at any of their hotel properties across Canada.
Delta Hotels owns a variety of hotels in popular destinations throughout Canadian business districts and top tourist areas. This is a great opportunity for Marriott Rewards members to explore these destinations using points for business or pleasure. There are a total of 35 Delta Hotels properties accessible to Marriott Rewards members at this time.
At the beginning of springtime, AMResorts, a subsidiary of Apple Leisure Group®, signed their first management deal of the year. This deal involves a newly build resort coming in October 2018—Dreams® Puerto Rico Resort & Spa. When officially opened, this resort will be the only real all-inclusive resort on the island. It will feature 250 rooms, a la carte dining, 24-hour room and concierge service, and plenty of activities.
This resort will be the 15th resort for the Dreams Resorts & Spas brand, and AMResorts is thrilled to enter into the Puerto Rico market. There is a lot of high-demand for the all-inclusive vacation model, and this resort is sure to be a wild success for the company.
Summer can be a slower time for timeshare industry news, but come early Fall, Apollo Global Management was able to complete the acquisition of Diamond Resorts International. The merger transaction allowed affiliates to receive $30.25 per share cash tender for their outstanding share of common stock.
The merger between Diamond Resorts and affiliate of the Apollo Funds made it so Diamond Resorts is now a privately-held company and Diamond Resort’s common stock stopped trade on the New York Stock Exchange and is no longer listed.
After AMResorts signed their first management deal in March, they were able to further expand into the Dominican Republic in November with their newest Dreams resort. Dreams® Dominicus La Romana is located on a beautiful beach in Bayahibe and is composed of 391 accommodation suites. Perfect for family vacations and couples getaways alike, the resort offers multiple gourmet dining options, 24-hour room service, and daily activities suited for all ages.
The Dominican Republic has seen a tremendous amount of growth and is easily one of the most sought-after vacation destinations in the world. The destination is also very easily accessible, making it a perfect place for AMResorts to continue to expand into. They are looking forward to adding more of these sought-after destinations to their resort portfolio in the new year.
That’s a wrap for timeshare news 2016! Keep up to date on industry stories and trending topics by subscribing to our blog and looking out for the latest industry news updates.