Diamond Resorts Acquires Bankrupt Tempus Resort’s Assets

Tempus Acquisition LLC announced that it has signed an agreement to acquire a large portion of Tempus Resorts International, Ltd.’s assets. Tempus Acquisition operates under Resorts International (Diamond Resorts International) which is one of the top leaders in the hotel and tourism industry worldwide.

Before proceeding with the acquisition, certain conditions are required, including the consent of the U.S. bankruptcy court. Tempus Resorts and some of its affiliated companies have already filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida for the acquisition to start immediately.

Stephen J. Cloobeck, Chairman and Chief Executive Officer of Diamond Resorts International said, “Dependent upon the outcomes of the court, we are pleased to be in a position to offer strategic guidance for Tempus assets and quality customer service for the 40,000 owners who look forward to utilizing their vacation holiday product.”

Diamond Resorts is known as one of the most successful vacation ownership companies in the world. Its global headquarters is located in Las Vegas, Nevada and it has more than 177 branded resorts in over 26 countries, including the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa.

"We offer luxury and comfort to more than 385,000 owners and members through the excellent service of more than 5,500 competent team members worldwide," said Cloobeck. "Diamond Resorts’ The Club is an exchange program that offers members the chance to enjoy the luxury of a number of stunning destinations that is so much more that the traditional vacation. Members not only get the chance to see amazing destinations like Hawaii or the Caribbean, they are also able to avail of product discounts and participate in airline mileage participation programs."

Tempus Resorts International is a global enterprise that is made up of ten individual companies operating in various industries such as resort and golf development, hospitality operations, and marketing, finance and technology. Its flagship resort in Orlando, Mystic Dunes Resort & Golf Club, was first established in 1998 and since then, it has been providing vacation services to over 650,000 guests.
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