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.
