Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Note 21: Subsequent Events

As disclosed in our press release issued on July 28, 2021 and in our Current Report on Form 8-K filed with the SEC on July 28, 2021, at a special meeting held on the same day, our stockholders voted to approve the issuance of our common stock in connection with the proposed acquisition of Diamond. The transaction is expected to close in early August 2021, and remains subject to customary closing conditions. 

In July 2021, we also executed the following transactions:

we entered into an Amendment to the Purchase and Sale Agreement (the “Amendment”) for the Central at 5th by Hilton Club development project. The Amendment shifted the timing of payments of our inventory purchase obligations for the project from 2021 and 2022 to 2023. Additionally, we completed the purchase of the first phase of timeshare units for $53 million

we borrowed $96 million under our Timeshare Facility to finance the repayment of certain indebtedness in connection with the Merger

we terminated the waiver period obtained in December 2020 for certain financial covenants required under our Credit Agreement.