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Diamond Resorts expands urban footprint with a capital efficient acquisition in St. Louis

Diamond Resorts has entered into an agreement with Inner Circle Investments to acquire six floors of City Place, an existing hotel located across from the famous Gateway Arch in St. Louis, Mo. City Place is set to be repositioned as luxury apartments, hotel rooms and vacation ownership units.

City Place, located two blocks north of the famous Gateway Arch, will be the first vacation ownership property in St. Louis.

LAS VEGAS – Diamond Resorts, a global leader in the hospitality, vacation ownership and entertainment industries, announced it has entered into an agreement with Inner Circle Investments to acquire six floors of City Place, an existing hotel that will be repositioned as luxury apartments, hotel rooms and vacation ownership units in St. Louis, Missouri. The repositioning of the property is expected to be complete in early to mid-2020.

Located across from the famous Gateway Arch, City Place is in a premier location within blocks of the city's most notable attractions, including museums, riverboat cruises and the Anheuser-Busch Brewery. Diamond's six floors will be repositioned into studio, one-bedroom and two-bedroom units and feature separate front desk and VIP areas designated exclusively for Diamond's members, owners and guests.  

"We are excited to expand our global footprint into St. Louis and offer another premier property for our members to enjoy," said Michael Flaskey, chief executive officer of Diamond Resorts. "St. Louis is a new market for the industry and we are proud that Diamond Resorts will be the only company offering vacation ownership accommodations for the millions of families who explore St. Louis each year. In addition to quality rooms and customer service, members and guests can look forward to a lineup of events, including private concerts and meet-and-greets with our Diamond Celebrities."

Each year, St. Louis welcomes more than 26 million visitors, including those seeking urban cultural, sporting, musical and culinary experiences. Diamond expects the vibrancy of St. Louis to both deliver memorable experiences for members, owners and guests, and generate meaningful new member growth. Furthermore, City Place is expected to be one of Diamond's flagship urban destinations and is scheduled to be available to members for reservation following completion of Diamond's redesign.

News Editor - TravelDailyNews Media Network

Angelos is the news editor for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). His role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy.

He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.

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