Diamond Resorts Completes Acquisition of Amber Vacation Club

Amber Vacation Club was established in 1994 and has approximately 13,500 owners. As part of the acquisition, Diamond Resorts will assume operations at Amber's managed resorts: Sunrise Ridge Resort in Pigeon Forge, Tennessee and Alhambra Villas and the neighboring resort of Alhambra at Poinciana in Kissimmee, Florida.

• Sunrise Ridge Resort is nestled in the foothills of one of the most beautiful areas in the United States – the Great Smoky Mountains. Downtown Pigeon Forge is just minutes away and packed with exceptional dining and entertainment options.
• Alhambra Villas and Alhambra at Poinciana are located in the heart of Kissimmee, about 35 miles south of Orlando. The resorts are surrounded by sparkling blue lakes and quiet creeks, and are positioned for easy access to many of the Central Florida's most popular attractions.

"We eagerly pursued this transaction for many reasons, including Amber's talented team of employees, loyal owner base and two quality resorts in desirable destinations," said Michael Flaskey, Chief Executive Officer of Diamond Resorts. "Sunrise Ridge Resort in Pigeon Forge adds critical mass for us in the Smoky Mountains and leverages an existing talented Diamond Resorts team in Eastern Tennessee. We look forward to significantly expanding in this market, which welcomes more than 10 million visitors per year."

Diamond Resorts will establish a sales and marketing center at Sunrise Ridge Resort and plans to upgrade the front desk and reservation systems at the resorts. Diamond Resorts also plans to make other improvements at the resorts over time, while establishing adequate operating reserves in the resort budgets.

"We are confident this acquisition will enhance vacation experiences for Amber's owners, while also potentially opening new doors for Amber's employees," said Flaskey. "As a leader in the vacation ownership industry, we are dedicated to continually providing new and exceptional vacation options to our members, and we feel this acquisition is a great compliment to our resort network."

To learn more about Diamond Resorts, visit DiamondResorts.com.

About Diamond Resorts
Diamond Resorts offers destinations, events and experiences to help members make a habit of breaking from the routine. From unforgettable getaways to exclusive concert series to VIP receptions and dinners, members turn to Diamond to recharge, reconnect and remind each other what matters most. Our focus on quality resorts, customer service and flexibility means members can return to a favorite resort, book a cruise to explore new countries or attend a once-in-a-lifetime event with the same level of confidence and anticipation. With access to a world of entertainment and activities, a Diamond membership ensures that people are always looking forward to vacation.

SOURCE Diamond Resorts

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