Hilton Grand Vacations (HGV) has taken a major step into the holiday ownership sector by completing its $1.5 billion acquisition of Bluegreen Vacations. As part of the transaction, each share of Bluegreen Vacations is valued at $75. This strategic transaction is expected to significantly expand HGV's offering, reach and market presence.
The acquisition is expected to significantly increase HGV's membership from 525,000 to 740,000. In addition, HGV's portfolio of resorts will grow substantially, from 150 to nearly 200 properties in 14 new geographic locations and encompassing eight additional states. This expansion represents a strategic step towards greater market diversification, a broader customer base and a greater variety of offerings.
Mark Wang, President and CEO of HGV, was very enthusiastic about the acquisition. He pointed to Bluegreen Vacations' impressive track record of organic growth and dedicated member base in excess of 200,000. In addition, the acquisition brings valuable strategic partnerships, promising greater market reach and a diversified travel stream. This strategic move aligns with HGV's previous efforts, including the Hilton Vacation Club brand, HGV Max membership and the HGV Ultimate Access experiential platform.
In addition to the acquisition of Bluegreen Vacations, HGV has signed an exclusive 10-year marketing agreement with Bass Pro Shops, a renowned outdoor and conservation retailer. The partnership builds on Bluegreen Vacations' role as Bass Pro Shops' official holiday ownership partner and includes their existing joint venture, which encompasses four outdoor-themed resorts.
Johnny Morris, founder of Bass Pro Shops, expressed his excitement at the partnership, saying it was one of the most significant engagements in the company's history. This collaboration aims to bring the joys of the outdoors to more people and create lasting memories for Hilton Grand Vacations and Bass Pro Shops customers.
« Along with our long-standing relationship with Hilton, this highly complementary combination will also unlock additional upside by leveraging the infrastructure we have built over the past few years with the launch of the Hilton Vacation Club brand, our HGV Max membership offering, the HGV Ultimate Access experiential platform. I’m particularly excited about the opportunity to enter into a new relationship with Bass Pro Shops and its actively engaged, loyal community of outdoor enthusiasts. We’re confident that our team members, shareholders, members and consumers will all significantly benefit from the combination of these exceptional organizations.» - Mark Wang, président-directeur général de Hilton Grand Vacations
« Today’s announcement represents another exciting chapter for Bluegreen Vacations. Combining with HGV will create an even more compelling vacation ownership offering, continuing to provide our owners and guests with enjoyable and unique experiences across a broader range of world-class destinations. I am extremely proud of the entire Bluegreen team for helping build Bluegreen into a leading vacation ownership company » - Alan Levan, directeur général de Bluegreen Vacations
