BFC Financial Corporation (“BFC” or the “Company”) and Bluegreen Corporation (“Bluegreen Vacations” or “Bluegreen”) has announced that Bluegreen is celebrating its 50th Golden Anniversary.
“This year marks the 50th Golden Anniversary of Bluegreen Vacations, an accomplishment we take great pride in. From one resort in the Smoky Mountains, the Bluegreen Vacation Club® has grown to 66 resorts, access to more than 4,500 resorts worldwide, and more than 199,000 owners enjoying the choice, flexibility and value that only Bluegreen can provide,” commented Jarett S. Levan, Acting Chairman and Chief Executive Officer of BFC Financial and BBX Capital. “Bluegreen’s ‘Share Happiness’ philosophy has helped create countless memories for vacationers over the decades, and we’d like to thank all of the owners, guests, business partners, and nearly 6,000 associates throughout North America who made this milestone possible.”
Bluegreen’s 50 th Anniversary Milestones:
“Bluegreen’s pursuit of its capital-light business strategy has resulted in significant growth and has made Bluegreen one of the leading leisure, hospitality, and vacation ownership companies in the market sector. Its platform supports a portfolio of revenues associated with: the traditional vacation ownership business, a growing fee-based services business, resort management and the finance business. For the year ended December 31, 2015, Bluegreen reported system-wide sales of Vacation Ownership Interests of $552.7 million, other fee-based services revenue of $97.5 million, and net income of $82.0 million,” commented Tony Puleo, Chief Financial Officer and Treasurer of Bluegreen Vacations.
“July is the start of the height of vacation season and we think an ideal time for families to ‘share happiness,’ creating smiles, memories and time together, and celebrating Bluegreen’s 50th anniversary. Happy 50thBluegreen!” added Levan.
For further information, please visit Bluegreen Vacations at www.BluegreenVacations.com
About Bluegreen Corporation:
Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen is a sales, marketing and resort management company, focused on the vacation ownership industry and pursuing a capital-light business strategy. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 199,000 owners, 66 owned or managed resorts, and access to more than 4,500 resorts worldwide. Bluegreen also offers a portfolio of comprehensive, turnkey, fee-based services, including resort management services, financial services, and sales and marketing services, to or on behalf of third parties.
About BFC Financial Corporation :
BFC (OTCQB: BFCF)(OTCQB: BFCFB) is a holding company whose principal holdings include an 81% ownership interest in BBX Capital Corporation (NYSE: BBX) and its indirect ownership interest in Bluegreen Corporation. BFC owns a 54% equity interest in Woodbridge, the parent company of Bluegreen. BBX Capital owns the remaining 46% equity interest in Woodbridge. As a result of their ownership interests, BFC and BBX own 100% of Bluegreen. As of March 31, 2016, BFC had total consolidated assets of $1.4 billion, shareholders’ equity attributable to BFC of $385.2 million, and total consolidated equity of $493.4 million. BFC’s book value per share at March 31, 2016 was $4.56.
Certain matters within this press release include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. For a description of these factors, please review the “Risk Factors” section or other sections in BFC Financial Corporation’s Annual Report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by such risk factors. Further, past performance is not a guarantee or indicator of future performance and actual results, performance, or achievements may differ materially from those contemplated, expressed or implied.
For further information, please visit our family of companies:
Bluegreen Corporation: www.BluegreenVacations.com
BFC Financial Corporation: www.BFCFinancial.com
BBX Capital: www.BBXCapital.com
BFC Financial and BBX Capital Contact Info:
Investor Relations: Leo Hinkley, Managing Director, 954-940-4994
Email: LHinkley@BFCFinancial.com
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