Bluegreen Vacations (BXG +3%) announces the acquisition of The Éilan Hotel and Spa in San Antonio, Texas for ~$34.3M.
• "This acquisition reflects our ability to identify attractive opportunities in key markets aligned with our western expansion initiatives, and is an important addition to our resort portfolio," says Bluegreen CEO Shawn Pearson.
• The company aplans to add a 13K square foot sales office at the resort by year end, which Bluegreen believes will expand its footprint for new business prospects and owner growth.
• The acquisition is also seen further leveraging Bluegreen's existing marketing platforms, which include the seven Bass Pro Shops located in Texas, as well as its recently extended relationship with Choice Hotels.
