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.
The US Open kicks off in NYC, and USTA Chairman Dr. Brian Hainline discusses tennis’s growth, Djokovic's worries about pickleball, and the sport's future.
Hero Bread's viral low-carb, keto-friendly croissant, backed by celebrity investors like Tom Brady and Kevin Durant, is revolutionizing healthy eating.
Fed Chair Jerome Powell's Jackson Hole speech on Friday is expected to align with market expectations of upcoming rate cuts, likely beginning in September.