Timeshare Resort Company Bluegreen Purchases Resort Property in Myrtle Beach

Bluegreen recently purchased an oceanfront resort in Myrtle Beach, and plans to reopen in 2006.

Bluegreen Corporation recently announced in a press release that it has recently purchased an oceanfront resort property in Myrtle Beach, for the express purpose of converting the existing units into timeshares.

The Yachtsman Resort Hotel, a 144-unit, 19-story resort, will be transformed into a new resort, offering one-bedroom timeshares. Once the extensive remodeling is complete, it should be ready to reopen early in 2006.

Included in this deal were timeshare weeks at buildings adjacent to the Yachtsman, as well as a number of timeshare properties along the Gulf Coast of Florida.

Bluegreen plans on changing the Yachtsman’s name to SeaGlass Tower.

Two outdoor swimming pools, an indoor pool, a spa, and several saunas are numbered among the on-site amenities at the new resort. Unit amenities include private balconies, whirlpool tubs, and fully-equipped kitchens.

Bluegreen’s presence in North Carolina comes as no surprise, considering that nearly every big-name resort company is investing in this area. Myrtle Beach is likely to retain its popularity as a vacation destination for many years to come. In proven resort locations, timeshares can bring huge profits to the development companies. What is true of other resort areas is also true of Myrtle Beach timeshare; namely, that the resort companies themselves are not the only ones to benefit from new developments. In proven locations, timeshare resorts can provide the local economy with a dramatic revenue boost, often to the tune of several billion dollars.

For more on this story, check out the original release at http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20051004005513&newsLang=en.