In a significant development for the hospitality industry, Bluegreen Vacations Holding Corporation (NYSE: BVH) has officially concluded its acquisition by Hilton Grand Vacations Inc. (HGV) in line with the merger agreement entered into by the two entities. This strategic move has resulted in Bluegreen Vacations transitioning into an indirect wholly-owned subsidiary of HGV, marking the dawn of a new era in vacation ownership.
The Merger in Review:
The finalization of the merger involved the cancellation and conversion of each outstanding share of Bluegreen Vacations’ Class A Common Stock and Class B Common Stock. In accordance with the terms stipulated in the merger agreement, each of these shares has been transformed into the right to receive the merger consideration, set at $75.00 in cash per share, without accruing any interest. This transformation took effect prior to the opening of trading on January 17, 2024, leading to the suspension of trading for the Company’s Class A Common Stock on the New York Stock Exchange and the Company’s Class B Common Stock on the OTCQX.
Alan B. Levan, the Chairman and CEO of Bluegreen Vacations, expressed his sentiments on this significant development, stating, “Today represents an ending as well as a beginning as the combination of Bluegreen Vacations with HGV creates a compelling vacation ownership offering.” He further commended the diligent efforts of the management team and associates, acknowledging their hard work and dedication, which culminated in this momentous achievement.
A Moment of Achievement:
The successful completion of this transaction is more than a business transition; it stands as a testament to the prowess of Bluegreen Vacations in becoming a leading vacation ownership company. Alan B. Levan’s acknowledgement of the “highest sales year in the Company’s history” underscores the remarkable trajectory that has led to this transformative merger.
Looking Ahead: Forward-Looking Statements:
While celebrating the accomplishments, it’s essential to consider the forward-looking statements encapsulated in this development. Forward-looking statements, as outlined by The Private Securities Litigation Reform Act of 1995, highlight the expectations, plans, and beliefs surrounding the acquisition. Such statements involve substantial risks and uncertainties, and actual results may differ from the expressed or implied expectations.
The Company emphasizes that these forward-looking statements are not exhaustive, and risk factors can be explored in reports filed with the SEC. The Company does not assume an obligation to update these statements, reflecting its commitment to transparency and compliance with evolving circumstances.
The integration of Bluegreen Vacations into Hilton Grand Vacations Inc. is not just a corporate evolution; it’s a milestone that reshapes the landscape of vacation ownership. As the hospitality industry witnesses transformative shifts, this acquisition stands out as a strategic move that aligns with the changing dynamics of the market. Stay tuned for more insights into these industry-defining moments as we navigate the ever-evolving hospitality sphere together.
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