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Hilton Grand to buy Bluegreen Vacations in $1.5 bln deal

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Vacation property operator Hilton Grand Vacations (HGV.N) said on Monday it would buy peer Bluegreen Vacations (BVH.N) in a $1.5 billion deal including debt, to get more customers for its timeshares and expand its offerings.

Under the deal terms, shareholders of Bluegreen Vacations will get $75 in cash for each share held, more than double the stock's closing price on Friday, valuing the company at $1.28 billion.

"One of the major challenges with an independent Vacation Ownership company like BVH is that they do not have a well-recognized brand like HGV does and subsequently customer acquisition cost is significantly higher," said Truist Securities analysts in a note. It will also expand Hilton's presence along the U.S. East Coast while adding a number of outdoor and ski destinations.

 

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Hilton Grand to buy Bluegreen Vacations in $1.5B dealThe deal comes at a time when inflation is beginning to weigh on domestic travel in the U.S, following a surge in demand as COVID-related lockdowns were lifted in the last two years.
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