Bluegreen Finalizes Agreement to Acquire The Manhattan Club
Monday, June 25, 2018
Just announced, Bluegreen Vacation Corporation has entered into an exclusive agreement that allows them to acquire The Manhattan Club. This agreement also lets Bluegreen obtain inventory now, while the official management contract at The Manhattan Club will be procured by 2021.
The Manhattan Club is located in Midtown Manhattan, right near Times Square, Broadway, and Central Park. This destination will serve as a great addition to the Bluegreen Vacation Club for current and new members. Bluegreen also plans to open a 2,500-square foot sales center, allowing them to expand their frontline sales at the most popular resorts.
“This is a milestone moment for Bluegreen,” said Shawn B. Pearson, President and CEO of Bluegreen. “The Manhattan Club has always been a favorite destination for our owners, and they now have more ways to enjoy this one-of-a-kind experience at a resort in the city that never sleeps. We believe investments in top destination properties for our owners and the significant expansion of our sales centers in 2018 will provide the foundation for incremental sales in years to come.”
Bluegreen is currently set to have its more significant sales center expansions in years. They’ve added over 80,000 square feet of sales center space at nine resorts, expected to all ben open by summer of 2019. Outside of New York City, Bluegreen has built or plans to build sales centers in Missouri, Texas, Florida, Louisiana, Illinois, Nevada, and North Carolina.
The Manhattan Club is the latest project in Bluegreen Vacations’ new resorts and sales centers, with The Marquee in New Orleans and Eilan Hotel and Spa in San Antonio occuring earlier this year. This trio is expected to expand Bluegreen’s frontline sales capacity and overall net owner growth.
The agreement Bluegreen has made gives them the exclusive right to acquire the remaining timeshare inventory at The Manhattan Club under Bluegreen’s “capital-light” Secondary Market program. Learn more about Bluegreen and their other ownership opportunities on their website.