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BLUEGREEN VACATIONS CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed May 10, 2021. Its latest SEC filing is a ABS-15G from Feb 6, 2026.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Sells vacation ownership interests to vacation buyers and provides resort management and sales-and-marketing services to resort owners' associations and third-party developers.

How Did They Make Money?

Vacation buyers purchase vacation ownership interests, and buyers who use company financing repay loans in installments. Third-party developers pay commissions for sales services; homeowners' associations pay for resort management and reimburse expenses monthly, while Bluegreen also earns interest on buyer loans.

revenue
SegmentShareRevenue
Sales of VOIs
Sold outright

33%
FY2017: 36%
Fee-Based Sales Commission Revenue
Recurring

17%
Other Fee-Based Services Revenue
Recurring

21%
Cost Reimbursements
Usage-based

12%
FY2017: 7.9%
Interest Income
Recurring

16%

Who Were Their Customers?

Vacation buyers are recruited through retail partners, Choice Hotels call transfers, and telemarketing, then buy through Bluegreen's sales offices; existing club owners can also buy additional points at sales offices or by telesales. Third-party developers and resort homeowners' associations hire Bluegreen for sales and management services.

Did Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2020 and turned 14 cents into free cash flow.

Operating income, FY2020
38% of revenue
▼ −20% vs FY2019 ($246M, 33%)
Net income, FY2020
2% of revenue
▼ −76% vs FY2019 ($34.9M, 5%)
Free cash flow, FY2020
14% of revenue
▲ +54% vs FY2019 ($46.1M, 6%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2021, the three months to Mar 31, 2021
Revenue
▼ −7%
vs $156.9M in Q1 FY2020
Net income
▲ +2416%
vs $201K in Q1 FY2020
Sales of VOIs share of revenue vs 28.8% in Q1 FY2020
  • May 5, 2021 BVH acquired the remaining shares, making Bluegreen wholly owned Bluegreen became an indirect wholly owned subsidiary, and its shares were suspended from trading on the NYSE.

Shrank. Revenue fell 21% in 4 years, from $662.7M in FY2016 to $521.1M in FY2020, about 6% a year.

Revenue over time
Sales of VOIs Fee-Based Sales Commission Revenue Other Fee-Based Services Revenue Cost Reimbursements Interest Income Other Income, Net
$1B$500M$0

Who Did They Compete With?

Competes with Marriott Vacations Worldwide, Walt Disney, Hilton Grand Vacations, Travel + Leisure, and Diamond Resorts International

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