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Boca Raton-based Company will manage resort, sales and marketing activities for properties in New Hampshire, Virginia, Massachusetts and the Bahamas
BOCA RATON, Fla.--(BUSINESS WIRE)--Jul. 15, 2009-- Bluegreen Corporation (NYSE: BXG), a leading provider of Colorful Places to Live and Play®, recently announced new agreements with Parkside Williamsburg Resort in Williamsburg, VA; The Soundings Seaside Resort in Dennis Port, Mass. (Cape Cod); Blue Water Resort in Nassau, Bahamas; and South Mountain Resort in Lincoln, NH.
Under the agreements, Bluegreen will provide a customized suite of timeshare services and product offerings. Bluegreen will manage operations at each resort, as well as provide specialized, fee-based services in the areas of sales and marketing, title and escrow, property management, and risk management. In certain of these agreements, Bluegreen will also provide design and development planning and mortgage servicing and collections, also on a fee basis. All four properties will become part of the Bluegreen Vacation Club® portfolio.
“With their considerable track record in all facets of the vacation ownership industry, we believe Bluegreen is the ideal partner to help independent developers succeed,” said Andy Anderson, President of the Parkside Williamsburg Resort. “Bluegreen’s emphasis on the customer coupled with a history of solid performance, geographic diversity and scale of operations, allows my team to focus on project development and financing at a local level. We think this is a wonderful marriage of talents.”
For Bluegreen, these agreements will add approximately 180 units of resort inventory that will be sold through the Bluegreen Vacation Club. In addition, each property brings with it the opportunity for additional phased development, including the construction and end-loan financing.
“We think our size provides significant efficiencies at each property while allowing us to do what we do best—managing the overall vacation experience for Bluegreen Vacation Club members, ” said Bluegreen Management Services President Dave Pontius.
“We announced in January that we would actively pursue growth through fee-based services, which require minimal capital, if any. We couldn’t be happier with the interest shown in our services and the quality of properties we now have under contract,” said President and CEO John M. Maloney, Jr. He added, “This benefits both independent developers and their lenders. And for Bluegreen, it represents an opportunity to further evolve our business model and strengthen our financial profile while generating cash revenues and earnings.”
BOCA RATON, Fla.--(BUSINESS WIRE)--Jul. 15, 2009-- Bluegreen Corporation (NYSE: BXG), a leading provider of Colorful Places to Live and Play®, recently announced new agreements with Parkside Williamsburg Resort in Williamsburg, VA; The Soundings Seaside Resort in Dennis Port, Mass. (Cape Cod); Blue Water Resort in Nassau, Bahamas; and South Mountain Resort in Lincoln, NH.
Under the agreements, Bluegreen will provide a customized suite of timeshare services and product offerings. Bluegreen will manage operations at each resort, as well as provide specialized, fee-based services in the areas of sales and marketing, title and escrow, property management, and risk management. In certain of these agreements, Bluegreen will also provide design and development planning and mortgage servicing and collections, also on a fee basis. All four properties will become part of the Bluegreen Vacation Club® portfolio.
“With their considerable track record in all facets of the vacation ownership industry, we believe Bluegreen is the ideal partner to help independent developers succeed,” said Andy Anderson, President of the Parkside Williamsburg Resort. “Bluegreen’s emphasis on the customer coupled with a history of solid performance, geographic diversity and scale of operations, allows my team to focus on project development and financing at a local level. We think this is a wonderful marriage of talents.”
For Bluegreen, these agreements will add approximately 180 units of resort inventory that will be sold through the Bluegreen Vacation Club. In addition, each property brings with it the opportunity for additional phased development, including the construction and end-loan financing.
“We think our size provides significant efficiencies at each property while allowing us to do what we do best—managing the overall vacation experience for Bluegreen Vacation Club members, ” said Bluegreen Management Services President Dave Pontius.
“We announced in January that we would actively pursue growth through fee-based services, which require minimal capital, if any. We couldn’t be happier with the interest shown in our services and the quality of properties we now have under contract,” said President and CEO John M. Maloney, Jr. He added, “This benefits both independent developers and their lenders. And for Bluegreen, it represents an opportunity to further evolve our business model and strengthen our financial profile while generating cash revenues and earnings.”
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