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Bluegreen Acquires Branson, Mo. Welcome Center

Bluegreen Acquires Branson, Mo. Welcome Center

Business Editors

BOCA RATON, Fla.–(BUSINESS WIRE)–Feb. 4, 2000

Bluegreen Corporation (NYSE: BXG), a leading U.S. developer and marketer of timeshare resorts, golf communities and residential land, today announced that it has acquired That’s the Ticket! in Branson, Missouri.

Terms were not disclosed.

That’s the Ticket! is a tourist welcome center located just outside Branson off State Route 65. More than five million visitors flock to Branson each year, and the vast majority – approximately 80 percent – travel Route 65 south from Springfield, Missouri, encountering the 3,000-plus square foot welcome center. The welcome center has been acquired by Bluegreen to strengthen its marketing initiative in Branson, where Bluegreen’s The Falls Village Resort is located. The Falls Village is a timeshare resort that is a part of the Bluegreen Vacation Club, a points-based vacation ownership concept that allows members to enjoy maximum vacationing flexibility and diversity.

The primary benefit of the welcome center is that it will provide resort tours to The Falls Village. Resort tours are a time-tested means of selling timeshare, and the idea of recruiting tours in a high traffic area is well known. However, Bluegreen’s That’s the Ticket! is somewhat different in that the center is also expected to be a profit center in which revenue comes from four sources. These include: 1) attraction and theatre ticket sales, 2) fees from strategic partners for hotel referrals to the many Branson visitors who do not make advance hotel bookings, 3) advertising in the welcome center, especially of theatre performances, and 4) the sale of tours (or prospects) to The Falls Village and other resorts.

That’s the Ticket! produces about 3,000 to 3,500 tours a year. Nick Gray, a 27-year timeshare industry veteran and President of Bluegreen’s Resorts Division, says the center will strengthen the company’s marketing initiative because it will enable The Falls Village to access tours at a lower cost than would otherwise be possible. &uot;We had been purchasing tours from That’s the Ticket! for three years. We conducted extensive due diligence and determined that it would be advantageous for us to acquire the business, and lease the space. We have a new profit center plus we can obtain more affordable prospects.&uot;

Joseph G. Russoniello, Bluegreen’s Senior Vice President of Marketing, adds, &uot;This is basically an OPC (off-premise contact) site. However, unlike an OPC counter in a 7-11 where the prospect is in search of bread or milk, at That’s the Ticket! consumers are in search of vacation information and assistance. This natural affinity between what motivates the consumer and what we are selling results in increased prospect generation – and that means a lower cost per tour.&uot;

Bluegreen is one of the leading companies engaged in the acquisition, development, marketing and sale of timeshare resorts, golf communities and residential land. The Company’s timeshare resorts are located in a variety of popular vacation destinations including Orlando, Florida; the Smoky Mountains of Tennessee; Myrtle Beach, South Carolina; Charleston, South Carolina; Branson, Missouri; Wisconsin Dells, Wisconsin; Gordonsville, Virginia; and Aruba, while its land operations are predominantly located in the Southeastern and Southwestern United States.

This press release contains forward-looking statements. Any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. The words &uot;believe,&uot; &uot;expect,&uot; &uot;intend,&uot; &uot;anticipate,&uot; and &uot;project,&uot; and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying such forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, regulatory changes, national or regional economic conditions that can affect the real estate market, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

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