ination guides, and the latest travel industry updates.">
Thursday, December 12, 2024
HomeVacationsHilton Grand to buy Bluegreen Vacations in $1.5 billion deal

Hilton Grand to buy Bluegreen Vacations in $1.5 billion deal

Published Nov 06, 2023 07:45AM ET Updated Nov 06, 2023 10:21AM ET
© Reuters.
HGV -10.97% Add to/Remove from Watchlist
By Aatreyee Dasgupta and Kannaki Deka
(Reuters) -Vacation property operator Hilton Grand Vacations (NYSE: ) said on Monday it would buy peer Bluegreen Vacations (NYSE: ) 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.
The deal comes at a time when high inflation is beginning to weigh on domestic travel in the United States, following a surge in demand when COVID-related lockdowns were lifted.
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.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

Translate »
×