BOCA RATON, Fla., Jul 5, 2001 (BUSINESS WIRE) -- John Maloney has joined
Bluegreen Corporation (NYSE: BXG) in the newly crated position of Senior Vice
President, Resort Division, Operations and Business Development.
Bluegreen is a leading U.S. developer and marketer of timeshare resorts, golf
communities and residential land.
Maloney's initial responsibilities include senior management direction of the
Company's newest resort, Big Cedar Wilderness Club, in Ridgedale, MO, and the
marketing alliance between Bass Pro and Big Cedar. Additionally, Maloney will
assume responsibility for corporate marketing together with call centers, as
well as assist in the development of new product lines, including the
introduction of a high-end fractional sales division. He will be based at
Bluegreen's corporate headquarters.
Prior to joining Bluegreen, Maloney served as Senior Vice President, Sales and
Marketing, for The Owners Club by ClubCorp, a fractional timeshare business
based in Dallas, Texas. His career experience includes 19 years in the vacation
ownership business, including marketing and sales management positions with
Hilton Grand Vacations Co. and Marriott Vacation Ownership International.
Maloney views his new assignment as "an opportunity to create a more up-market
product within the Bluegreen portfolio of products." He believes his experience
with Hilton's and Marriott's branded products will help in designing programs
intended to maximize the potential for the Company's new Bass Pro-Big Cedar
marketing alliance, develop lower-cost marketing programs, refine the corporate
call centers and explore business opportunities that will offer a higher yield.
"Fifteen years ago, timeshare was not a sought-after good," Maloney says. "Now
it is becoming more so. Branded products have shown a high degree of embrace
from consumers, and we intend to build up Bluegreen to that level."
George Donovan, Bluegreen's President and Chief Executive Officer, states, "John
will help us maximize the Big Cedar product, which caters to an upscale market.
We believe that the potential for Big Cedar is enormous. The Bass Pro marketing
alliance, which matches the demographics of our Vacation Club, enhances this
potential. John will be creating business opportunities that will appeal to
everyone from the average American family to the sophisticated vacationer who is
interested in a wilderness experience of the caliber of Big Cedar. We are
delighted to welcome him aboard."
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; Ridgedale,
Missouri; and Aruba, while its land operations are predominantly located in the
Southeastern and Southwestern United States.
This press release contains forward-looking statements and the Company desires
to take advantage of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 in connection with these statements. Statements
made by George Donovan, Bluegreen executives and any other statements contained
herein that are not statements of historical fact may be deemed forward-looking
statements. The words "believe," "expect," "intend," "anticipate," "project,"
"may," "should," "estimate," "plan" and similar expressions identify
forward-looking statements, which speak only as of the date the statement was
made. The Company does not undertake and specifically disclaims any 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
based on current expectations and assumptions and are inherently subject to
risks and uncertainties, some of which cannot be predicted or quantified and
many of which are beyond the Company's control. Future events, industry trends
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,
actual results for future periods may differ from those estimated, consumer
demand may be less than anticipated, regulatory changes, changes in national or
regional economic conditions that can affect the real estate market, risks
associated with a large investment in real estate, shortages of available
inventory and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission, including its most recent annual
report on Form 10-K with respect to fiscal 2001. Given these risks and
uncertainties, investors are cautioned not to place undue reliance on such
forward-looking statements and no assurances can be given that such statements
will be achieved.
CONTACT: Bluegreen Corporation
Chief Financial Officer
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.