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Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) has announced the acquisition of three new resorts, boosting its portfolio in popular destinations. This includes a 320-room resort and spa in Panama City Beach, Florida, being converted to 200 rooms, and two buildings at Streamside at Vail Resort, Colorado. The company is also breaking ground on a new resort in Pigeon Forge, Tennessee, expected to open in 2024. These strategic acquisitions are aimed at enhancing offerings for vacation owners and expanding their market presence.
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Acquisition of a 320-room resort and spa in Panama City Beach, enhancing portfolio.
Two buildings acquired at Streamside at Vail Resort, adding 46 new units to inventory.
Groundbreaking on a new resort in Pigeon Forge, Tennessee, expected to open in 2024.
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Three New Resorts Added to Vacation Company Portfolio
BOCA RATON, Fla.--(BUSINESS WIRE)--
Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (“Bluegreen Vacations,” “Bluegreen,” or the “Company”), a leading vacation ownership company, announced its recent acquisition of a 320-room resort and spa in Panama City Beach, Florida and two buildings in the Streamside at Vail Resort enclave in Vail, Colorado.
Bluegreen currently plans to convert the 320-guestroom resort and spa, formally branded and managed as a Sheraton®, to 200 rooms, consisting of studios, one bedroom, two-bedroom and presidential suites and add a new sales preview center. The property, which includes a full-service spa, four restaurants, a private marina and beach as well as pools, tennis courts and fitness center, will receive additional enhancements to building exteriors, public areas and other improvements.
The Panama City Beach Resort and Spa is Bluegreen’s second acquisition in 2022 having acquired property at Streamside at Vail in July. The company’s purchase of the Vail property will add 46 units of one-bedroom and one-bedroom loft to Bluegreen’s growing inventory and provide access to a range of amenities including clubhouse, spa, fitness center and shuttle service to local attractions. Plans are underway to renovate guest rooms, building exterior, and infrastructure in early 2023.
“Bluegreen Vacations is committed to identifying iconic destinations across the country from which to fly our flag,” said Ray Lopez, Executive Vice President, Chief Operating Officer and Chief Financial Officer of Bluegreen Vacations. “Panama City Beach, ranked among the top beach destinations in the US and the Colorado Rockies, has long been of interest to our owners. Both properties have well-established, desirable amenities which provide Bluegreen with an exciting product to offer our owners,” Mr. Lopez added.
In addition to acquiring two resorts in Panama City Beach, Florida and Vail, Colorado, Bluegreen Vacations announced it has broken ground on a new resort in Pigeon Forge, Tennessee. Slated to open in 2024, the new resort will feature 67 guest accommodations including three-bedroom presidential suites with upgraded in-room amenities designed for comfort and relaxation. The project will also include an expansive sales preview center.
“The majestic Smokey Mountains have been a popular destination among Bluegreen’s owners,” said Dusty Tonkin, Executive Vice President and Chief Sales & Marketing Officer of Bluegreen Vacations. “Adding a new resort in this region allows us to not only address our owner demand but gives us an opportunity to provide our owners with new experiences and introduce new owners to this inspiring destination,” he said.
About Bluegreen Vacations:
Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with 69 Club and Club Associate Resorts and access to nearly 11,200 other hotels and resorts through partnerships and exchange networks. The Company also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services to, or on behalf of, third parties.
Please note: Construction plans and amenities are subject to change. Unit availability and inclusion into the Bluegreen Vacation Club may be delayed, is not guaranteed and is subject to meeting all applicable licensing, registration and governmental requirements.
