Bluegreen Vacations Expands Alliance With Choice Hotels' Ascend Hotel Collection
Bluegreen Resort Properties Extend Ascend Hotel Collection Into More Key Destinations
BOCA RATON, FL--(Marketwired - July 01, 2015) - Bluegreen Corporation ("Bluegreen Vacations" or "Bluegreen"), today announced that Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest hotel companies, has added six new Bluegreen Vacation Club® Resorts to its rapidly growing upscale Ascend Hotel Collection brand. The addition of these resorts brings the total number of Bluegreen Vacation properties integrated into the Ascend Hotel Collection to 28, making Bluegreen the Ascend Hotel Collection membership program its largest franchise partner. The six new resort properties are located in the highly desirable travel destinations of Big Bear, California; Orlando, Florida; Aspen, Colorado; Myrtle Beach, South Carolina, and two locations in Williamsburg, Virginia.
"Launched in January of 2013, the strategic alliance between Bluegreen Vacations and Choice Hotels has added value to each organization. Beyond the affiliation of 28 Bluegreen properties into the Ascend Hotel Collection, the multi-faceted alliance has introduced Bluegreen Vacations to Choice Hotels' guests through a combination of innovative marketing programs resulting in stronger guest loyalty, incremental room nights and timeshare purchases," said Peter Menges, Senior Vice President of Bluegreen Ventures.
"We joined forces with Bluegreen Vacations with great optimism and we are so pleased to be deepening the relationship," said Steve Joyce, president and Chief Executive Officer of Choice Hotels. "This successful alliance has exceeded expectations on all fronts including franchise commitments, room night delivery, co-marketing and financial performance."
BFC Financial and BBX Capital together hold a 100% ownership interest of Bluegreen.
About Bluegreen Corporation: Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen Corporation ("Bluegreen Vacations") is a sales, marketing and resort-management company, focused on the vacation ownership industry and pursuing a capital-light business strategy. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 186,000 owners, over 64 owned or managed resorts, and access to more than 4,500 resorts worldwide. Bluegreen also offers a portfolio of comprehensive, turnkey, fee-based service resort management, financial services, and sales and marketing on behalf of third parties. For more information, visit www.BluegreenVacations.com
BFC Financial (OTCQB: BFCF) is a holding company whose principal holdings include a 54% ownership interest in the parent company of Bluegreen Corporation and an 81% ownership interest in BBX Capital Corporation (NYSE: BBX). BBX Capital Capital's holdings include a 46% ownership interest in the parent company Bluegreen Corporation. As a result of their ownership interests, BFC and BBX together own 100% of Bluegreen.
About Ascend Hotel Collection®: let the destination reach you. The best travel experiences can't be found in a guidebook. That's why the one-of-a-kind, upscale properties in the Ascend Hotel Collection® membership program let you focus on your destination in a whole new way. Each Ascend® hotel is a unique reflection of its local community, with staff committed to sharing their insider knowledge of the places, moments and experiences that makes each destination special. You'll discover hidden treasures off the beaten path, and find the true local flavor you crave.
About Choice Hotels: Choice Hotels International, Inc. ® (NYSE: CHH) is one of the world's largest lodging companies. With more than 6,300 hotels franchised in more than 35 countries and territories, we represent more than 500,000 rooms around the globe. As of March 31, 2015, 615 hotels were in our development pipeline. Our company's Ascend Hotel Collection®, Cambria® hotels & suites, Comfort Inn®, Comfort Suites®, Sleep Inn®, Quality®, Clarion®, MainStay Suites®, Suburban Extended Stay Hotel®, Econo Lodge® and Rodeway Inn® brands provide a spectrum of lodging choices to meet guests' needs. With more than 22 million members and counting, check out our Choice Privileges® rewards program to see how you can reap the benefits of being a member of the Choice Hotels® family. Visit us at www.choicehotels.com for more information.
About BFC Financial Corporation:
BFC (OTCQB: BFCF) (OTCQB: BFCFB) is a holding company whose principal holdings include an 81% ownership interest in BBX Capital Corporation (NYSE: BBX) and its indirect ownership interest in Bluegreen Corporation. Bluegreen is a wholly owned subsidiary of Woodbridge Holdings, LLC. BFC owns a 54% equity interest in Woodbridge. BBX Capital owns the remaining 46% equity interest in Woodbridge. As of March 31, 2015, BFC had total consolidated assets of approximately $1.4 billion, shareholders' equity attributable to BFC of approximately $256.6 million, and total consolidated equity of approximately $454.3 million. BFC's book value per share at March 31, 2015 was $3.08.
About BBX Capital Corporation:
BBX Capital (NYSE: BBX) is involved in the acquisition, ownership, management of, and investments in, real estate, real estate development projects and middle market operating businesses. In addition, BBX Capital owns a 46% equity interest in Woodbridge, which owns 100% of Bluegreen. As of March 31, 2015, BBX Capital had total consolidated assets of $385.5 million, and shareholders' equity of $312.2 million. BBX Capital's book value per share was $19.30 at March 31, 2015 versus $19.16 at March 31, 2014.
For further information, please visit our family of companies:
Bluegreen Corporation: www.BluegreenVacations.com
BFC Financial Corporation: www.BFCFinancial.com
BBX Capital: www.BBXCapital.com
BBX Capital Real Estate: www.BBXCapitalRealEstate.com
BBX Capital Partners: www.BBXCapitalPartners.com
BBX Sweet Holdings: www.BBXSweetHoldings.com
Renin Corporation: www.ReninCorp.com
This press release contains forward-looking statements based largely on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and can be identified by the use of words or phrases such as "plans," "believes," "will," "expects," "anticipates," "intends," "estimates," "our view," "we see," "would" and words and phrases of similar import. The forward looking statements in this document are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and involve substantial risks and uncertainties. We can give no assurance that such expectations will prove to be correct. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are based largely on expectations and are subject to a number of risks and uncertainties including but not limited to the risks and uncertainties associated with economic, competitive and other factors affecting Bluegreen Vacations and its operations, markets, products and services; the risk that Bluegreen Vacations will not be able to securitize its receivables in the future and the risk that Bluegreen Vacations will not be able to obtain new facilities for the sale or pledge of receivables. In addition to the risks and factors identified above, reference is also made to other risks and factors impacting Bluegreen Corporation, which are detailed in reports filed by BFC Financial and BBX Capital with the SEC, including their respective Annual Reports on Form 10-K and Quarterly Reports on Form 10Q, and are available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com, and on BFC's website, www.BFCFinancial.com.
BFC Financial and BBX Capital Contact Info:
Email: LHinkley@BFCFinancial.com and/or LHinkley@BBXCapital.com
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Released July 1, 2015