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Hilton Grand Vacations has officially announced that it has completed the acquisition of Bluegreen Vacations. This previously disclosed acquisition was an all-cash transaction of around $1.5 billion, including net debt. This acquisition widens Hilton Grand Vacations’ offerings as well as customer reach and sales locations.
Mark Wang, president and CEO of Hilton Grand Vacations, was quoted saying:
“I’m thrilled to welcome Bluegreen Vacations to the HGV family, uniting two highly complementary businesses to further scale and diversify our best-in-class offering,” said. This combination adds approximately 200,000 members and expands our resort portfolio to nearly 200 properties in 14 new geographies and eight new states. The addition of exciting new outdoor destinations and world-class strategic partnerships, including Bass Pro Shops and NASCAR, transforms our business from a leader in the vacation ownership industry to a premier vacation ownership and experiences company that builds on our legacy of adventure, innovation and exploration. Together, we have the opportunity to offer our members and guests access to even more memorable vacations and experiences, while enhancing our ability to drive long-term shareholder value.”
The combination of these two major brands also provides upside by leveraging the infrastructure developed as part of Hilton Grand Vacations’ recent business evolution, including the lucrative launch of its Hilton Vacation Club brand, the expanded access offered through its HGV Max membership, and the HGV Ultimate Access experiential events platform.
This acquisition is expected to generate around $100 million in run0rate cost synergies in the first 24 months after the deal closes. It also supports higher free cash flow conversations and benefits HGV’s base of recurring EBITDA.
Learn more about Hilton Grand Vacations on the company’s website.
