Bluegreen Vacations Expands to Nashville

Rhea-AI Summary

Bluegreen Vacations expands into Nashville market with acquisition of two properties in Printers Alley district.

Positive

• Bluegreen Vacations announces expansion into Nashville market with acquisition of two properties in Printers Alley district. The properties will be sold as vacation ownership interests and a sales preview center will be created. Bluegreen plans to refresh guest rooms, convert penthouse suites into presidential units, and add new amenities. The acquisition provides a future expansion opportunity in the Nashville market. Bluegreen has added four new properties to its portfolio in the last eight months.

Negative

• None.

BOCA RATON, Fla.--(BUSINESS WIRE)-- Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (“Bluegreen Vacations,” or the “Company”), is excited to announce its expansion into the Nashville, Tennessee market with the acquisition of two properties located in the historic Printers Alley district.

One of the properties, previously a 15-story hotel, contains 86 rooms and two penthouse suites, will be sold as vacation ownership interests; the second property, an adjacent two-story building which was formerly the Nashville Trust Company, will be converted to a sales preview center.

Bluegreen will refresh the 86 guest rooms and convert the two penthouse suites into presidential units, and will add a new lobby, a fitness center, and an owners’ lounge. It’s possible the Nashville Trust building may have the potential to be redeveloped into a 15-story resort, providing the Company with a future expansion opportunity in the Nashville market.

This acquisition is the fourth new property added to Bluegreen’s portfolio in the last eight months, with the recently acquired Branson Cedars Resort in Ridgedale, Missouri, Bayside Resort and Spa in Panama City Beach, Florida, and Streamside Resort in Vail, Colorado. Additionally, Bluegreen recently announced the commencement of construction of its Mill Springs Resort in Pigeon Forge, Tennessee.

“We are pleased to add Nashville to the list of Bluegreen destinations,” said Ray Lopez, Chief Operating Officer and Chief Financial Officer of Bluegreen Vacations. “This acquisition is part of our overall strategy to offer our owners a diverse range of vacation experiences in some of the most desirable locations in the country.”

Bluegreen is also expanding its inventory of presidential suites, including three recently added units at its MountainLoft resort in Gatlinburg, Tennessee and seven new suites under development at The Fountains Resort in Orlando, Florida.

“Nashville has been one of the top desired destinations among our owners,” said Dusty Tonkin, Bluegreen’s Chief Sales and Marketing Officer. “When the opportunity arose to acquire this landmark building, it made sense to add this vibrant city to our expanding map,” he added.

Centrally located in downtown Nashville, less than three blocks from Broadway, the property will offer owners and guests easy access to the city’s vibrant entertainment, restaurants and attractions.

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 71 Club and Club Associate Resorts and access to nearly 11,200 other hotels and resorts through partnerships and exchange networks.

For further information, please visit us at www.BluegreenVacations.com.

This press release contains forward-looking statements. All opinions, forecasts, projections, future plans, and other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve risks, uncertainties, and other factors, many of which are beyond the Company’s control, that may cause actual results or performance to differ from those set forth or implied in the forward-looking statements. These risks and uncertainties include, without limitation, the risk that construction plans and anticipated amenities are subject to change and may not be completed or provided as planned or at the time period indicated; the risk that the availability of presidential suites is anticipated but may be delayed and is not guaranteed; the risk that resort 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; and the additional risks and uncertainties described in the Company's filings with the SEC, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (including the “Risk Factors” section thereof). The Company cautions that the foregoing factors are not exclusive.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230515005726/en/

Bluegreen Vacations Contact Info:

Media and Public Relations: Marcia McLaughlin, Director Brand & Owner Marketing

Telephone: 561-912-8115

Email: marcia.mclaughlin@bluegreenvacations.com

Bluegreen Vacations Holding Corporation Contact Info:

Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer

Telephone: 954-399-7193

Email: Leo.Hinkley@BVHcorp.com

Source: Bluegreen Vacations Holding Corporation

FAQ

What is Bluegreen Vacations' expansion strategy?

Bluegreen Vacations aims to offer owners a diverse range of vacation experiences in desirable locations. They have recently added properties in Branson, Panama City Beach, Vail, and Nashville.

What will happen to the acquired properties in Nashville?

One property will be sold as vacation ownership interests and the other will be converted into a sales preview center.

What amenities will be added to the properties?

Bluegreen plans to add a new lobby, fitness center, and owners' lounge to the properties.

Where are the properties located in Nashville?

The properties are centrally located in downtown Nashville, less than three blocks from Broadway.

How many properties has Bluegreen added to its portfolio recently?

Bluegreen has added four new properties to its portfolio in the last eight months.