Hilton Grand Vacations completed its acquisition of Bluegreen Vacations, the vacation ownership company announced Wednesday.
The $1.5 billion all-cash transaction adds roughly 200,000 new members and 14 new markets to HGV’s portfolio.
HGV will also benefit from Bluegreen Vacations’ pre-existing partnerships with Bass Pro Shops and NASCAR, which will beef up the company’s offerings in outdoor and experiential travel.
According to HGV President and CEO Mark Wang, the deal “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.”
The deal will also leverage HGV’s recently developed infrastructure to unlock more shareholder value, according to the announcement. New HGV platforms and products include its Hilton Grand Vacation Club brand, an expanded HGV Max loyalty program and HGV Ultimate Access, which curates events and experiences for HGV guests.
HGV first announced plans to acquire Bluegreen Vacations in November. The merger adds 49 resorts to HGV’s portfolio, which now comprises nearly 200 properties.
Also in November, HGV opened four floors of penthouses in Las Vegas amid heightened traveler demand for luxury accommodations.
