Hilton Grand to Buy Bluegreen Vacations in $1.5B Deal

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.

Both Hilton Grand and Bluegreen Vacations market and sell timeshares, or vacation ownership interests - a model where multiple owners have exclusive use of a property for a period of time. Shares of Bluegreen Vacations more than doubled to $73.1 in morning trade, while shares of Hilton Grand were down 8.7%.

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.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Hilton Grand to buy Bluegreen Vacations in $1.5 bln dealVacation 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.
Source: Reuters - 🏆 2. / 97 Read more »