FORT LAUDERDALE, FL and BOCA RATON, FL (October 3, 2017)
luegreen Corporation (“Bluegreen Vacations” or “Bluegreen”), a wholly-owned subsidiary of BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) (“BBX Capital”), has announced plans to expand the Fountains, its signature resort in Orlando, Florida.
“Orlando is one of the top tourist destinations in the world and the Fountains is one of Bluegreen’s premier flagship resorts,” commented Shawn Pearson, CEO of Bluegreen Corporation. “The Fountains is in close proximity to Disney World, Sea World, Universal Studios and many of Orlando’s other world-renowned local attractions, and we look forward to having the availability of new vacation ownership resort units at the Fountains.”
Expansion plans for the Fountains include 97 additional vacation ownership resort units featuring two-bedroom accommodations, as well as luxurious three-bedroom Presidential suites. Once completed, the expanded Fountains campus is planned to encompass a total of 842 vacation ownership units. Completion and initial occupancy of the additional units is anticipated to occur in winter 2018.
About the Fountains Resort:
Orlando’s world-famous attractions preside majestically over the rest of the city. But the Fountains is its own kingdom of 54 acres. Located on International Drive, the Fountains is an outlet to every attraction in Orlando and this Orlando retreat holds its own with a full calendar of activities for adults and children alike. Vacation villas offer the space and amenities needed to feel right at home.
Onsite Amenities: The Fountains’ Wakoola Springs is a spectacular 75,000 square-foot tropical water wonderland that is anything but ordinary. Features include two twisting water slides, a zero-entry pool, interactive water fountains, two hot tubs and Wakoola Grill, an on-site bar and grill. Beautiful Lake Eve offers fishing, paddleboats, and a boardwalk and pier. A 6,000 square-foot indoor/outdoor pool area, two hot tubs, a convenient pool bar and a playground for children is also offered. Further, a 20,000 square-foot clubhouse is home to a gift shop, lounge area and children’s activity center with video games, air hockey and billiard tables. For further information about the Fountains visit:
About Bluegreen Corporation:
Bluegreen, founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. Bluegreen’s Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 200,000 owners, 66 Vacation Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. For further information, please visit www.BluegreenVacations.com
About BBX Capital Corporation:
BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), formerly BFC Financial Corporation, is a diversified holding company whose activities include its ownership of Bluegreen Corporation and, through its Real Estate and Middle Market Divisions, the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects and middle market operating businesses. As of June 30, 2017, BBX Capital had total consolidated assets of $1.5 billion. For further information, visit www.BBXCapital.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based largely on the current expectations of BBX Capital and Bluegreen. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and can be identified by the use of words or phrases such as “plans,” “will,” “expects,” “anticipates,” “”would” and words and phrases of similar import. Forward-looking statements involve substantial risks and uncertainties, including the risk that Bluegreen may not complete its expansion plans at the Fountains as anticipated, if at all, and that VOI sales at the expanded facility may not be as successful or profitable as anticipated, if at all. BBX Capital and Bluegreen can give no assurance that such expectations will prove to have been correct. Actual results, performance, or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
PRESS RELEASE SOURCE: Bluegreen Vacations
BBX Capital Corporation Contact Info:
Managing Director, Investor Relations Officer
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