- Bluegreen Vacations (BXG +5.2%) has entered into an agreement to acquire the inventory, and management contract by 2021 of the Manhattan Club, a residence-style boutique hotel in Midtown Manhattan.
- Bluegreen also plans on opening a 2,500-sq. ft. sales center.
- Under the agreement Bluegreen has the right to acquire remaining timeshare inventory at The Manhattan Club under Bluegreen’s “capital-light” Secondary Market program through periodic purchases over time, and subject to the terms and conditions of the agreement, the exclusive right to acquire the management contract for The Manhattan Club resort in 2021.
- "We believe investments in top destination properties for our owners and the significant expansion of our sales centers in 2018 will provide the foundation for incremental sales in years to come”, commented Shawn B. Pearson (LON:PSON), President and CEO, Bluegreen Vacations.
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