Bluegreen Corporation

Bluegreen Corporation

Type	Public
Traded as	NYSE: BXG
Industry	Real estate
Headquarters	Boca Raton, Florida, USA
Area served	United States
Key people	John M. Maloney, Jr. (President) & (CEO)
Products	Real estate-based vacation ownership plans
Revenue	US$366M (FY 2010)
Operating income	US$7.70M (FY 2010)
Net income	US$-44.0M (FY 2010)
Total assets	US$1.26B (FY 2010)
Total equity	US$284M (FY 2010)
Employees	4,040+ (2013)
Website	Bluegreen Corporation, Bluegreen Resorts

Bluegreen Corporation is a public timeshare resort developer, based in Boca Raton, Florida. More than 60 Bluegreen resorts employ approximately 4,300 employees nationwide. Since 1996, Bluegreen has managed, marketed and sold a timeshare plan with more than 160,000 owners, 60 owned or managed Bluegreen resorts, and access to more than 4,000 resorts worldwide. Bluegreen develops planned residential communities or planned unit developments (PUDs) by acquiring large sections of unimproved land outside major U.S. cities and divides them into smaller units ranging in size from 1/4 acre up to 25 acres (100,000 m²). They also acquire partially finished communities to complete the construction on those developments. The smaller units are sold to individuals or building developers as residential home sites and the development is marketed as a master-planned community. The corporation improves the infrastructure by constructing roads, utilities, and residential amenities. After the infrastructure is completed, ownership and maintenance responsibility are turned over to the local government, utility companies, and the property owners association. Covenants are also set to define the context of the future building improvements.

Bluegreen also provides several comprehensive, turn-key, fee-for-service resort management, financial, lead generation and sales services to resort developers and lenders.

History

Shorecrest Villas at North Myrtle Beach on Ocean Drive in South Carolina, USA is one of Bluegreen Corporation's timeshare properties.

The Bluegreen Corporation was founded in 1966, with the core business of buying, improving, selling and financing land. They incorporated in 1985 and were listed on the New York Stock Exchange the following year. In 1994, Bluegreen Resorts was established with its first timeshare resort in the Great Smoky Mountains. Later that year, they established resorts in Myrtle Beach and Florida. In 1996, Bluegreen Communities began construction on its first daily-fee golf course.

Bluegreen acquired RDI Group in 1997, thereby adding resorts in Florida and Wisconsin, as well as management contracts with other resorts in the southeast. Because of this purchase, Bluegreen became one of the largest property managers of timeshare resorts in the U.S., and shortly thereafter began marketing vacation ownership at Bluegreen resorts under the Bluegreen Vacation Club name.

In 2000, Bluegreen established one of the timeshare industry’s first national retail alliances through a marketing agreement with Bass Pro Shops, Inc. The agreement provides the company opportunities to market Bluegreen resort vacation packages at Bass Pro retail locations, in their catalogs and on the company's web site.

In 2002, Bluegreen acquired TakeMeOnVacation, LLC. Since 2005, new Bluegreen resorts locations have been added in destinations including Las Vegas, Williamsburg, Phoenix, Atlantic City, New Orleans, the Bahamas and Cape Cod.

Corporate structure

Bluegreen Corporation consists of two divisions, Bluegreen Resorts and Bluegreen Communities. Bluegreen Communities is further divided into Bluegreen Golf and Bluegreen Southwest. Bluegreen Southwest develops communities in South Texas while Bluegreen Golf develops communities across the U.S. Each Bluegreen community offers different natural and developed amenities. Generally every Bluegreen community offers a swim and tennis center, and a POA clubhouse. The majority of Bluegreen’s communities include hiking and exercise trails, and some offer lake recreation and golf courses designed by leading PGA professionals.

The company grew from just over 150 associates in 1991 to 6,000 associates in 2006.

2013 Merger

BFC Financial Corporation (OTCQB: BFCF) and Bluegreen Corporation ("Bluegreen") (NYSE: BXG) announced in March 2013 that Bluegreen shareholders approved the merger of Bluegreen with Woodbridge Holdings, LLC (“Woodbridge”), a wholly owned subsidiary of BFC, in an all-cash transaction at a price of $10.00 per share.

Locations

Bluegreen resorts are located in the following cities:

State/Location	City	Bluegreen Resorts
Arizona	Peoria	Cibola Vista Resort and Spa
Aruba	Oranjestad	La Cabana Beach Resort & Casino
Bahamas	Nassau	Blue Water Resort
California	Big Bear Lake	The Club at Big Bear Village
Florida	Daytona Beach Shores	Daytona SeaBreeze
	Marathon	The Hammocks at Marathon
	Orlando	The Fountains
	Orlando	Orlando's Sunshine Resort
	Ormond Beach	Casa Del Mar Beach Resort
	St. Augustine	Grande Villas at World Golf Village
	Surfside (Miami)	Solara Surfside
Louisiana	New Orleans	Bluegreen Club La Pension
Michigan	Boyne Falls	Mountain Run at Boyne
Missouri	Branson	The Falls Village
	Ridgedale	Bluegreen Wilderness Club at Big Cedar
	Ridgedale	The Cliffs at Long Creek
Nevada	Las Vegas	Bluegreen Club 36
New Jersey	Atlantic City	Bluegreen at Atlantic Palace
New York	New York City	The Manhattan Club
Pennsylvania	Hershey	The Suites at Hershey
South Carolina	Charleston	The Lodge Alley Inn
	Myrtle Beach	Carolina Grande
	Myrtle Beach	Harbour Lights
	Myrtle Beach	SeaGlass Tower
	N. Myrtle Beach	Shorecrest Vacation Villas
Tennessee	Gatlinburg	MountainLoft
	Pigeon Forge	Laurel Crest
Virginia	Gordonsville	Shenandoah Crossing
	Williamsburg	Patrick Henry Square
Wisconsin	Wisconsin Dells	Bluegreen Odyssey Dells
	Wisconsin Dells	Christmas Mountain Village

Philanthropy

Bluegreen Corporation supports non-profit organizations, charities and foundations through charitable giving programs, events and activities. Bluegreen's charitable giving program is predominantly focused on health issues, education and children. The BEAR (Bluegreen Employee Action Resource) Team was established in 2000 and encourages employee volunteerism, community service and philanthropic initiatives. Bluegreen supports many charities including Christel House International, the Cystic Fibrosis Foundation, the American Red Cross and JDRF (Juvenile Diabetes Research Foundation).

Christel House has been a Bluegreen Charity of Choice since 2000, contributing to the organization through voluntary payroll deductions, golf tournaments, raffles and resort activities.

Bluegreen is a presenting sponsor of South Florida's Finest Couples, a gala that honors the area's top couples for their success in business, leadership in the community and in their fundraising commitment to the Cystic Fibrosis Foundation.

Following Hurricane Sandy in 2012, Bluegreen made a $5,000 donation to American Red Cross Disaster Relief and pledged to match associates' personal donations up to $5,000. Bluegreen is also a Super Hero Sponsor of the American Red Cross Heroes Campaign.

Bluegreen CEO John M. Maloney Jr. serves as the President of the Palm Beach Chapter of JDRF. In 2012, Bluegreen's team raised $50,014 for JDRF's Walk to Cure Diabetes.

Bluegreen also supports local charities including the Junior Achievement BizTown Education Program and Deliver the Dream. In 2011, Bluegreen’s The Fountains hosted 15 children living with a blood disorder illness and their families, free of charge, through Deliver the Dream. The retreat allowed families to relax, enjoy time together, forge new friendships and create support groups with the other families suffering from the same disease.

External links

• Bluegreen Corporation
• Bluegreen Resorts Travel Site