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Timeshare Financial News: January 13, 2018

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$$$► Hilton Grand Vacations Inc. (NYSE:HGV) has celebrated its first anniversary since ringing the opening bell at the New York Stock Exchange to mark becoming an independent, public company following its spin-off from Hilton.

And what has HGV accomplished in that year? Quite a lot, actually, including the major events listed below:

  • The company is moving forward with its first announced timeshare resort in Asia, the Hilton Grand Vacations Club on Sesokojima Island, Japan. It’s being built through a partnership with Hilton and Mori Trust.
  • Grand openings of The District by Hilton Club in Washington, D.C., and The Grand Islander by Hilton Grand Vacations Club in Oahu, Hawaii.
  • Acquired a 25 percent interest in LV Tower 52, LLC the developer and seller of Elara, a Hilton Grand Vacations Club, in Las Vegas through a joint venture with Blackstone Real Estate Partners VIII L.P.
  • Purchased remaining inventory at Sunrise Lodge, a Hilton Grand Vacations Club, in Park City, Utah, from Sunrise Park City, LLC.

And that was just in the first year! Watch their dust in 2018.

$$$► Also commemorating an anniversary on the NYSE are BBX Capital and its affiliated company Bluegreen Vacations Corporation, who celebrated their successful 2017 listings (NYSE: ICE) with dual bell ringing ceremonies yesterday, January 12, 2018.

Alan B. Levan, BBX Capital’s Chairman and CEO as well as Chairman of Bluegreen Vacations, said “2017 was a transformative year for both BBX Capital and Bluegreen Vacations. I am honored as Chairman of these two affiliated companies to have the unique opportunity to ring both the Opening and Closing Bell of the New York Stock Exchange, the largest equity market in the world, on the same day, which we believe is a historic occasion at the Exchange. It is a momentous way to mark these two NYSE listings, as well as the dedication of our management teams and employees that have contributed to our success.”

In conjunction with their participation in the Bell Ringing Ceremonies, BBX Capital and Bluegreen Vacations hosted an investor meeting at the NYSE, including presentations, luncheon and “meet & greet” sessions with the managements from both companies.

$$$► Breckenridge Grand Vacations (BGV) donated $306,375 in fall grants to 29 nonprofit organizations during the last holiday season. It is estimated that by the end of 2017, BGV’s total contributions exceeds $1 million, distributed between employee assistance fund contributions, donations to The Summit Foundation and other local organizations, sponsorship of local charitable events, in-kind spa certificates and in-kind lodging to a number of local charities, among other philanthropic causes. In just its second year under the leadership of BGV’s philanthropic program BGV Gives and manager Deb Edwards, the company has increased its contributions by more than 15 percent in comparison to the first year’s grant cycle.

The education sector was awarded $116,175 of fall grants, distributed among 15 organizations, while nine human services nonprofits were granted a total of $113,000. Three health organizations received $62,200, and the remaining $15,000 was allocated between two other local beneficiaries. These donations fund capital projects, special event sponsorships, programs, equipment, scholarships, educational materials, general operating support and a variety of other needs. KUDOS!

$$$► Last November The Westgate Resorts Foundation announced its 2018 philanthropic investment of $1 million in Central Florida and communities nationwide where Westgate Resorts operates.

The Foundation awarded grants to more than 65 nonprofits committed to Westgate’s community mission of Strong Families | Strong Workforce, focused on the areas of homelessness, domestic violence, gaps in education and veteran employment.

The Westgate Resorts Foundation also celebrated four special grants that were awarded earlier last year to nonprofit partnerships in Central Florida. The following four nonprofit partnerships were awarded grants of $25,000 each:

  • City Year Orlando and Foundation for Orange County Public Schools for the “Accelerated Teacher Pipeline Program.”
  • Valencia College Foundation and The Jobs Partnership of Florida for “Hope for Students, Hope for Parents (Hope2).”
  • Community Hope Center’s IDignity Osceola Program, IDignity Orlando, and Goodwill Industries of Central Florida for “Gateways to Work.”
  • Foundation for Seminole State College and Victim Service Center of Central Florida for the “Be the Hero Bystander Education & Training.”

For more information about the Westgate Resorts Foundation, visit www.westgateresortsfoundation.org


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