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got to work repairing his new Diamond Resorts. But by late 2008, the credit tsunami began to take down timeshare companies one by one. Fortunately, Diamond was in a position to play offense while the whole industry was busy playing defense. With the help of private capital sources like Soros and Guggen
h to mirror transactions like the joint venture the Company structured with Dorsett (a large Asian hotel company) last year. A deal like this allows Diamond members access to new resorts in Asia without having to purchase the resort outright. These arrangements not only enhance Diamond's consumer value
ADW Capital Partners, L.P. 14/26/2014 1st Quarter 2014 and YTD Performance Report M2) 2014 Q1 2014 Inception To Date Gross Return -1.24% -1.24% 207.67% Dow Jo
got to work repairing his new Diamond Resorts. But by late 2008, the credit tsunami began to take down timeshare companies one by one. Fortunately, Diamond was in a position to play offense while the whole industry was busy playing defense. With the help of private capital sources like Soros and Guggen
h to mirror transactions like the joint venture the Company structured with Dorsett (a large Asian hotel company) last year. A deal like this allows Diamond members access to new resorts in Asia without having to purchase the resort outright. These arrangements not only enhance Diamond's consumer value
ADW Capital Partners, L.P. 14/26/2014 1st Quarter 2014 and YTD Performance Report M2) 2014 O1 2014 Inception To Date Gross Return -1.24% -1.24% 207.67% Dow Jo
iamond Resorts International (NYSE:DRII) We initially profiled our investment in Diamond Resorts (DRII) in our 1Q 2014 letter. We were attracted to Diamond by the highly recurring nature of the Company's cash flows, the imminent refinancing opportunity available, and the Company's extremely high insider
ADW Capital Partners, L.P. 111/4/2015 3rd Quarter and 2015 YTD Performance Report ("} Gross Return 2015 Q3 2015 YTD Inception To Date Average Annual Return 0.
Entities connected to both Diamond and ADW Capital Partners

Stephen Hawking
PERSON
Joe Biden
PERSONAdam D. Wyden
PERSONMarcum LLP
ORGANIZATION
James Baker
PERSON
Dow Jones
ORGANIZATION
Uncle Sam
PERSONADW Capital Management
ORGANIZATION
Michael Douglas
PERSONDiamond Resorts
ORGANIZATION
Las Vegas
LOCATION
George Soros
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Wyden
PERSONthe "Fund'
ORGANIZATION
Michael Milken
PERSONDorsett
PERSONStarwood Capital
ORGANIZATIONSunterra
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Western Europe
LOCATIONSheldon
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