Diamond Resorts Exploring Strategic Alternatives; Shares Up

(RTTNews) - Diamond Resorts International, Inc's (DRII) shares were lifted more than 22 percent after the hospitality company announced to explore strategic alternatives to maximize shareholder value. The Committee has retained Centerview Partners LLC as its financial advisor.

The company, which manages resorts and sells vacation ownership points, said "there continues to be a significant dislocation between the intrinsic value we have built in this business and the market value of our public equity."

Separately, the company reported that its fourth-quarter profit more than doubled to $49.7 million and revenue rose 18% to $273.6 million.