This is a key reason the EMBARC system (formerly Interwest) resisted integration into the Diamond Collections. HGVC owners may need to protest and do the same or else everyone will compete for the good stuff (primarily HGVC with some Diamond e.g. Maui, The Modern Honolulu) and no one will want the rest. Although Diamond has some nice properties, they also have many properties past their prime which would be a significant downgrade in quality.
If Diamond/Apollo execute a purchase, IMO I am a bit relieved we own bHC because our reservation priority will be protected in NYC at least. If HGVC adds more bHC locations, we may shift from HGV club aka "HGVC Vegas Collection" to bHC reservations in order to obtain the bookings we want with less competition. We also will redirect future resale portfolio additions to the "Marriott/Westin Collection."
Just curious, what’s not to say that if Apollo buys HGVC that they won’t change how bHC works?