DRI Reveals Partnership with China Travel International and Dorsett Hospitality International
Tuesday, February 17, 2015
This week Diamond Resorts International (DRI) announced that they signed a joint venture agreement with China Travel International and Dorsett Hospitality International. Through this agreement, Diamond plans to create and sell Diamond timeshare in Asia, with the help of their new business partners.
The trio plans to develop China into a major market for vacation ownership. Over the past year, many timeshare groups including Marriott and RCI have announced plans to expand to China and other Asian countries.
President and CEO of Diamond Resorts International, David F. Palmer said, “We are excited to be a part of this new joint venture. At Diamond Resorts, we believe in the power of vacations to improve and enrich people’s lives. Through our new venture, we will bring new, customized vacation products to Asian consumers. We are delighted to be partners in this venture with China Travel and Dorsett Hospitality, two successful companies with established track records providing superior hospitality to Asian consumers.”
Currently, there are over 300 Diamond timeshare resorts and destinations around the world. While Diamond offers a few club affiliated resorts in China, they do not have a Diamond Resorts branded property. With this new partnership, Diamond with build additional resorts to attract owners and expand trading options for current members.
Executive Director & General Manager of China Travel International, Jeremy Xu commented, “We see strong and growing demand for vacation travel in China and Asia and are delighted to be able to work with our renowned partners Diamond Resorts and Dorsett Hospitality in this joint venture to offer quality vacation products and services tailored to the travel lifestyle of our valued customers.”
The agreement states that China Travel International Investment Hong Kong, Ltd. will hold a 40% stake in the joint venture, while Dorsett Hospitality International Limited will hold a 30% interest. Both organizations will enter the joint venture as affiliates, but will be represented equally on the project’s board of directors.
President and Executive Director of Dorsett Hospitality International, Winnie Chiu shared, “With China Travel’s stronghold in China and additional offices in Asia, Europe, North America, and Oceania, which is in line with Dorsett Hospitality International’s ‘Chinese Wallet’ strategy, coupled with Diamond Resorts International’s destinations in 34 countries and Dorsett Hospitality International’s aggressive growth plan not only within Asia but beyond, I am confident that this joint venture will enable us to tap [into] each other’s expertise, market space and will offer travellers a whole new travel and hospitality experience.”
Currently, there is no launch date for the new Diamond resorts in China. Stay tuned to TheTimeshareAuthority.com blog for more information about the timeshare group’s expanision. To learn more about Diamond Resorts and Diamond timeshares, visit SellMyTimeshareNow.com.
