Vacation ownership company Bluegreen Vacations Holding Corporation (NYSE: BVH) recently announced its acquisition of a 320-room resort and spa in Panama City Beach, Florida, as well as two buildings in the Streamside at Vail Resort enclave in Vail, Colorado.
The 320-guest resort and spa, formerly branded and operated as a Sheraton®, will be converted by Bluegreen to 200 rooms, including studios, one-bedroom, two-bedroom, and presidential suites, and a new sales preview center will be added.
The resort will make additional upgrades to the building’s exteriors, public areas, and other aspects of the property, which also has a full-service spa, four restaurants, a private marina and beach, a pool and tennis courts, and a fitness center.
After purchasing land at Streamside at Vail in July, Bluegreen made its second acquisition in 2022 with the purchase of the Panama City Beach Resort and Spa. The Company’s acquisition of the Vail property will increase Bluegreen’s inventory by 46 one-bedroom and one-bedroom loft units and give residents access to several amenities like a clubhouse, spa, fitness center, and shuttle service to nearby attractions. In addition, 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. The new resort, expected to open in 2024, will include 67 guestrooms, including three-bedroom presidential suites with updated in-room facilities for comfort and relaxation. Additionally, the property will have an expansive sales preview center.
“The majestic Smoky 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.
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.
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