In a strategic move to elevate its vacation ownership and experiences portfolio, Hilton Grand Vacations Inc. (NYSE:HGV) is set to acquire Bluegreen Vacations (NYSE: BVH; OTCQX: BVHBB) for $1.5 billion. This all-cash transaction positions HGV to scale and diversify its offerings, adding over 200,000 members and 48 resorts across 14 new geographies.
The acquisition broadens HGV’s reach and deepens its lead flow through Bluegreen Vacations’ esteemed partnerships. A new 10-year exclusive marketing agreement with Bass Pro Shops, one of America’s premier outdoor and conservation companies, is a strategic move to connect with over 220 million annual customers. This partnership is expected to expand and diversify HGV’s lead generation, presenting a boon for hospitality professionals seeking unique and memorable experiences.
Mark Wang, President and CEO of Hilton Grand Vacations, expressed enthusiasm about the acquisition, emphasizing the opportunity to leverage Bluegreen Vacations’ growth and strategic partnerships. The deal aligns seamlessly with HGV’s recent infrastructure investments, including the Hilton Vacation Club brand launch and the HGV Max membership offering.
Bluegreen Vacations’ CEO, Alan Levan, sees the acquisition as an exciting chapter, creating a more compelling vacation ownership offering. The union with HGV opens avenues for unparalleled experiences across a broader range of world-class destinations.
Adding to the excitement, HGV announced a 10-year exclusive marketing agreement with Bass Pro Shops, solidifying its commitment to introducing more people to the joys of the great outdoors. The deal encompasses four outdoor-themed resorts and is poised to be a landmark collaboration for both brands.
The acquisition will generate ~$100 million in cost synergies within the first 24 months. HGV anticipates significant upsides through diversification, enhanced lead flow, and leveraging recent strategic investments.
The transaction is expected to close in the first half of 2024, subject to customary closing conditions and regulatory approvals. HGV’s leadership, including Mark Wang, Dan Mathewes (CFO), and Gordon Gurnik (COO), will continue to guide the company through this transformative journey, supporting HGV’s commitment to delivering exceptional value to its members, shareholders, and the broader hospitality industry.
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