Bluegreen Vacations CEO on IPO Day: Why Timeshare is Winning
Bluegreen Vacations, a timeshare company that sells vacation ownership interests and manages resorts, opened for trading Friday on the New York Stock Exchange.
After pricing at $14 a share, shares got off to a rough start and opened lower at $12.55. Shawn Pearson, CEO of Bluegreen Vacations, joined us on set to explain why now was the right time for the company to go public.
With the rise of Airbnb, some question the impact the unicorn is having on the hospitality market. While it may be an issue for traditional hotel companies, Pearson says he actually sees Airbnb as an opportunity because they are drawing people away from traditional hotels.
The CEO believes the company's best growth opportunity is in the west and northeast regions of the U.S. While he thinks overseas markets could eventually pay off, Pearson says the focus for now is domestic.
Bluegreen is capitalizing on consumers' shifting demand toward experiences. He thinks the best destinations for those seeking a good time are those such as Charleston, not necessarily LA or NY. Pearson emphasized the company's focus is on Middle America.
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
Sheryl Palmer, CEO of Taylor Morrison, talks tariff uncertainty, being a female leader in a male dominated industry and what homebuyers need to know. Watch!