Diamond Resorts International announced that Peter Crage will assume the role of Chief Financial Officer effective August 21, 2017.
In his most recent position as Chief Financial Officer for SeaWorld Entertainment, Crage was responsible for overseeing the turnaround of the financial performance of the company amidst public concern and ongoing regulatory and legislative pressure. Prior to his role with SeaWorld, Crage held the role of Chief Financial Officer for Extended Stay America, where he led the ground-up transformation of this private equity owned organization and worked seamlessly with the equity sponsor group, underwriters and legal team to accomplish the initial public offering of stock to the equity markets. With Crages financial oversight, the company revenues/EBlTDA outperformed market and grew 12% and 20%, respectively, in 2013 through a combination of operating initiatives and the deployment of a $600 million, multiyear renovation and maintenance program.
I am excited to join Diamond Resorts and eager for the road ahead as the company has experienced tremendous growth and there is ample opportunity to continue to build on the existing strategic goals and initiatives across the business, said Crage, appointed Chief Financial Officer, Diamond Resorts International®.
We are very excited to welcome Peter as the new CFO and are looking forward to working with him to further grow and enhance the business, stated Ken Siegel, President and Chief Administrative Officer, Diamond Resorts International®. This is an exciting time for Diamond Resorts, and with Crages background and undeniable track record, we have full confidence that he will lead the global team to continued success.
Effective December 31, 2017, Alan Bentley will retire as Chief Financial Officer of the Company. Bentley will continue to support Diamond Resorts for the remainder of the year in an advisory role.