Nov 6 (Reuters) – Vacation 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.
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.
Hilton Grand to buy Bluegreen Vacations in $1.5 bln deal
- Advertisment - 