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February 11, 2016 12:06 AM ET

Hotels, Restaurants and Leisure

Company Overview of Bluegreen Corporation

Company Overview

Bluegreen Corporation operates as a sales, marketing, and management company focusing on the vacation ownership industry in the United States. The company markets, sells, and manages vacation ownership interests (VOIs) in resorts that are developed or acquired by the company, or developed and owned by others. Its VOIs enable buyers to use resort accommodations through an annual or biennial allotment of points, which represent their ownership and beneficial use rights in perpetuity in the Bluegreen Vacation Club. It also provides property and homeowners’ association management, VOI title, mortgage servicing, and resort amenity operational services; and financing to individual purchasers of VO...

4960 Conference Way North

Suite 100

Boca Raton, FL 33431

United States

Founded in 1966

Phone:

561-912-8000

Fax:

561-912-8100

Key Executives for Bluegreen Corporation

Chief Financial Officer, Senior Vice President, Treasurer, Secretary and President of Bluegreen Treasury Services
Age: 47
Chief Strategy Officer, Executive Vice President and President of Bluegreen Services
Age: 59
Senior Vice President and President of Bluegreen Resorts Field Sales & Marketing
Age: 57
Chief Information Officer and Senior Vice President
Chief Human Resources Officer and Senior Vice President
Age: 55
Compensation as of Fiscal Year 2015.

Bluegreen Corporation Key Developments

Finn Law Group Settles Consumer Class Action Lawsuit against Bluegreen Corporation over Reporting Delinquent Timeshare Accounts as Foreclosures

A class action settlement has been reached with Bluegreen Corporation, Experian Information Solutions Inc., and Equifax Information Services, LLC. over allegations that timeshare owners’ delinquent accounts were reported as foreclosures in violation of the Fair Credit Reporting Act and Florida debt collection laws. The suit, Best and Snapp, et al. versus Bluegreen Corp., et al., case no. 9:14-cv-80929, was filed July 14, 2014, in the U.S. District Court, Southern District of Florida. The plaintiffs alleged that when they were delinquent, Bluegreen sent a series of letters advising them that they were terminated from the Bluegreen Vacation Club and the status of their accounts may be reported as foreclosures to the credit agencies. While not admitting liability, Bluegreen, Experian, and Equifax agreed to settle the lawsuit. The settlement, which was approved by the court Nov. 6, 2015, provides in part: for class members who did not opt out of the settlement and no longer have an active account, Bluegreen will request that Equifax and Experian delete the entire account that displayed a foreclosure; for class members who did not opt out of the settlement but still have an active account, Bluegreen will provide information to Equifax and Experian showing that the accounts were paid for the months preceding their delinquency; and Equifax and Experian have agreed to implement Bluegreen's requests.

Bluegreen Corporation Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Bluegreen Corporation announced earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenues of $175,861,000 against $163,420,000 a year ago. Income before taxes was $42,031,000 against $32,104,000 a year ago. Net income was $27.0 million against $21.0 million a year ago. EBITDA was $45,647,000 against $38,170,000 a year ago. Free cash flow was $32.7 million compared to $43.2 million a year ago. Net income attributable to company was $23,251,000 against $17,210,000 a year ago. For the nine months, the company reported total revenues of $458,365,000 against $443,957,000 a year ago. Income before taxes was $94,481,000 against $90,248,000 a year ago. EBITDA was $108,667,000 against $108,566,000 a year ago. Net income attributable to company was $51,563,000 against $49,694,000 a year ago.

Bluegreen Corporation Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Bluegreen Corporation announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating profit was $26.846 million against $31.230 million a year ago. Income before income taxes was $27.794 million against $31.911 million a year ago. Net income attributable to Bluegreen was $15.048 million against $18.326 million a year ago. EBITDA was $32.365 million against $37.462 million a year ago. For the six months, the company reported operating profit was $50.6 million against $57.02 million a year ago. Income before income taxes was $52.45 million against $58.14 million a year ago. Net income attributable to Bluegreen was $28.31 million against $32.48 million a year ago. EBITDA was $62.95 million against $70.22 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 13, 2015
Undeveloped Land At Patrick Henry Square Resort Location
 

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