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Hilton Grand Vacations strikes deal to acquire Diamond Resorts

cindyc said:
This has changed within the past month or so and deeded week owners can now book their units online as the points owners have done for quite some time. It is an improvement that was long overdue. Not that I minded speaking with the Owner Services, they were always very helpful.
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Thank you for this update. I had not heard this and I haven't been a legacy week owner in the last 14 years. Good to know.
 
cindyc said:
This has changed within the past month or so and deeded week owners can now book their units online as the points owners have done for quite some time. It is an improvement that was long overdue. Not that I minded speaking with the Owner Services, they were always very helpful.
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To me being able to book reservations on line without having to call Owner Services is a really important thing. I don't know how availability is in the Diamond System since I am an HGVC owner. However, during the HGVC Club Reservation Period, which is 9 months before check in, booking reservations when they immediately become available at highly sought after resorts rather than having to wait until Owner Services opens up can be the difference between booking your reservation or having the Owner Services representative tell you there is no availability for that time period.
 
dayooper said:
I wonder how much of Diamond is still owned as weeks and not in the club?
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Follow the link the below. It is a google spreadsheet which @youppi maintains. Along the top are tabs. Click on "US Financial Report" or "HI Financial Report." The former is for the US Collection (or point trust) the latter is the Hawaii Collection. Scroll down a bit and you will find data for each resort. One of the datum is "Percentage of Units in US [or HI] Collection." In most cases 1-% will tell you the number weeks held outside the trust fund. Some of these deeds could be owned by Diamond. In some cases more than one trust fund owns deeds to the same resort, e.g. Sedona Summit. Sometimes deeds are owned by third party developers, e.g. Raintree owns a chunk of Polo Towers in Las Vegas. But for most cases this should give you a good idea.

Also note, someone who is a deeded owner might be a Club member. That was the case, for example, with @dougp26364. The deed was valued at some number of points and those points could exchange within the club.

HI, US and EU Collections & KBC & P@P MF since 2007 by TUG member youppi

docs.google.com docs.google.com
 
geist1223 said:
Worldmark and Wyndham did not merge. Wyndham through a predecessor bought the Develpment Rights from Trendwest. As a separate matter the Independent (LOL) Worldmark BOD hired Wyndham to be the day to day manager of the Resorts. An exchange program has been developed called Club Pass. You have to have WM+A or WM Developer sold Points to use Club Pass. Wyndham likes to inflate numbers so Wyndham count every Worldmark Member as a Member of Club Pass. Though a large number of Worldmark Members can not use Club Pss. The Booking Window for Club Pass i believe opens at 9 months.

WM+A Worldmark Points are Points acquired bebore "XX" date in November 2006 from whatever source. The Exchange Fee is $99. The Point Cost for an Exchange is quite high ie Wyndham Bali Hai 2 Bedroom through RCI is 10,000 Worldmark Points. Through Club Pass the same unit is 20,000 Worldmark Points. It appears that the rough equivalency between Wyndham and Worldmark is 16 to 20 Wyndham Points per 1 Worldmark Point.
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So no way to acquire WM+A points now and no way to acquire Club Pass without going through the developer?
 
Mongoose said:
So no way to acquire WM+A points now and no way to acquire Club Pass without going through the developer?
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That about sums it up, but would be better asked in the WorldMark forum....
 
well, thats going to be awkward if it gets any traction...

www.law360.com

Investor Sues To Halt $1.4B Hilton Grand's Timeshare Biz Buy - Law360

An investor in Hilton Grand Vacations Inc. has sued the timeshare company to block its planned $1.4 billion acquisition of competitor Diamond Resorts International Inc., arguing that a proxy statement supporting the merger omitted material information regarding the companies' financial projections.
www.law360.com www.law360.com
 
Tamaradarann said:
What is Land and Building?
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Land & Buildings Investment Management LLC (together with its affiliates, “Land & Buildings”), a shareholder of Hilton Grand Vacations Inc. (“HGV” or the “Company) (NYSE:HGV),

Sound like an investor LLC.

You beat me to it @artringwald
 
brp said:
Their comment about "ceding control to 28% and two Board seats is substantial.
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How substantial is it? [rhetorical]

If they get two board seats by adding two new ones, Apollo will control 2 out of 9.

Are common stock shares so diluted in ownership that Apollo will have outsized influence? [I have no idea.]
 
CalGalTraveler said:
Here is the slide deck with their complaints:


IMO...Apollo control, and DRI drag on earnings is concerning. I would be fine if HGV remained separate. Some of the Embarc resorts would be nice but not if our ownership rights or MF increase dramatically to support paying for the acquisition.
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Is there a slide deck with the HGV full responses? The overlays used in the L&B response to the response hide the full text.
I notice they are playing (L&B) with words a bit based upon some of what I *can* see in the HGV response to (IMO) take things out of context a bit.
 
Sandy VDH said:
Land & Buildings Investment Management LLC (together with its affiliates, “Land & Buildings”), a shareholder of Hilton Grand Vacations Inc. (“HGV” or the “Company) (NYSE:HGV),

Sound like an investor LLC.

You beat me to it @artringwald
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How large is their share of HGVC? If small, it doesn't really matter. If large, it could torpedo the purchase when they vote in June.
 
hurnik said:
Is there a slide deck with the HGV full responses? The overlays used in the L&B response to the response hide the full text.
I notice they are playing (L&B) with words a bit based upon some of what I *can* see in the HGV response to (IMO) take things out of context a bit.
Click to expand...

I feel this as well. It's a propaganda piece slanted in their direction. It doesn't make them wrong (or right), but it seems to me they are trying to sway those that are on the fence to their way.

My biggest fear is that HGVC will be swallowed up by a different system. I would much rather have HGVC takeover (or merge and stay in control like the Diamond deal) than have someone like Wyndham take over and change things.
 
Fried_shrimp said:
How large is their share of HGVC? If small, it doesn't really matter. If large, it could torpedo the purchase when they vote in June.
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If they had the votes to stop the deal, they wouldn't spend the money on a lawsuit.
 
dioxide45 said:
If they had the votes to stop the deal, they wouldn't spend the money on a lawsuit.
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I didn't think they had enough votes on their own but if they could get other shareholders to join them.....then it might be possible depending on how close they are to begin with. Just as an example, if they owned 5% then they probably wouldn't stand a chance but if they owned say 25% or more, they might could get a coalition together to stop it.
 
Fried_shrimp said:
How large is their share of HGVC? If small, it doesn't really matter. If large, it could torpedo the purchase when they vote in June.
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Not sure on percentages, but they hold 417,790 shares all bought in the 4th quarter of 2020 (at least as of 12/31/2020). To put that in perspective, Vanguard Group Inc owns 7,625,033 shares and there are 22 firms that have over 1,000,000 shares. There are 40 groups that have more shares than Land and Building. Again, this is all as of 12/31/2020.

Link
 
dayooper said:
Not sure on percentages, but they hold 417,790 shares all bought in the 4th quarter of 2020 (at least as of 12/31/2020). To put that in perspective, Vanguard Group Inc owns 7,625,033 shares and there are 22 firms that have over 1,000,000 shares. There are 40 groups that have more shares than Land and Building. Again, this is all as of 12/31/2020.

Link
Click to expand...

So the short answer is they don't have the votes to stop this, and probably won't impact the sale.

The legal claims seem doubtful and unlikely to succeed in my opinion..
 
Fried_shrimp said:
I didn't think they had enough votes on their own but if they could get other shareholders to join them.....then it might be possible depending on how close they are to begin with. Just as an example, if they owned 5% then they probably wouldn't stand a chance but if they owned say 25% or more, they might could get a coalition together to stop it.
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I don't really get the business sense behind the lawsuit either. Unless there is a peanut they hope to get as a settlement to make the suit go away it is hard to imagine them getting anything but a bill from a law firm.
 
escanoe said:
I don't really get the business sense behind the lawsuit either. Unless there is a peanut they hope to get as a settlement to make the suit go away it is hard to imagine them getting anything but a bill from a law firm.
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To get some concessions for minority shareholders in the final merged entity.
 
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