Diamond Resorts International Completes Acquisition of Gold Key Resorts

LAS VEGAS—Diamond Resorts International, Inc. has completed the previously disclosed acquisition of the vacation ownership business of Gold Key Resorts, adding five vacation ownership resorts in Virginia Beach, VA, and one in the Outer Banks, NC. The acquisition adds two new East Coast locations to Diamond Resorts, bringing its global portfolio to a total of 99 managed resorts.

David Palmer, president and CEO, Diamond Resorts International, said, “We are pleased to have completed this acquisition, which expands our presence on the East Coast and brings to Diamond Resorts a large owner base. We are confident that we can further accelerate the profitable growth of the Gold Key business through synergies and innovation. We look forward to providing these new vacation destination choices to our members, owners and guests, providing them with more opportunities to Stay Vacationed, and helping them create memorable vacation experiences in Virginia Beach and the Outer Banks.”

The Gold Key resorts are Beach Quarters Resort, Turtle Cay Resort, Boardwalk Resort and Villas, Ocean Beach Club Resort and Oceanaire Resort in Virginia Beach, VA; and Beachwoods in Kitty Hawk, NC.