LAS VEGAS-Diamond Resorts International, a global leader in the hospitality and vacation ownership industries, has completed two strategic acquisitions, adding Island One and the remaining portion of Pacific Monarch Resorts to its network.

Diamond has acquired the management contracts for each company's properties, and added Island One's owner families to Diamond's portfolios. Diamond had previously acquired Pacific Monarch's other management agreements and owner families in 2012. The closings of both acquisitions were contingent upon the completion of Diamond's initial public offering, which closed on July 24, 2013.

“We are thrilled to complete these transactions, which together add nine new properties, 13 new property management arrangements, and over 25,000 owner families to our network,” stated David Palmer, Diamond Resorts President and CEO. “Coinciding with our initial public offering, these transactions will benefit our business by adding significant cash flow to our hospitality management segment and enhancing our owner base while enabling us to drive cost synergies. These types of acquisitions represent an excellent strategic growth platform for our business, and we look forward to fully integrating these resorts and their owners into the Diamond Resorts family.”