Bluegreen (BXG) Announces New Fee-Based Service Contracts with Four Resorts

July 15, 2009 10:12 AM EDT

Bluegreen Corporation (NYSE: BXG) announced new agreements with Parkside Williamsburg Resort in Williamsburg, VA; The Soundings Seaside Resort in Dennis Port, Mass. (Cape Cod); Blue Water Resort in Nassau, Bahamas; and South Mountain Resort in Lincoln, NH.

Under the agreements, Bluegreen will provide a customized suite of timeshare services and product offerings. Bluegreen will manage operations at each resort, as well as provide specialized, fee-based services in the areas of sales and marketing, title and escrow, property management, and risk management. In certain of these agreements, Bluegreen will also provide design and development planning and mortgage servicing and collections, also on a fee basis. All four properties will become part of the Bluegreen Vacation Club(R) portfolio.

Bluegreen Corporation provides places to live and play through its resorts and residential communities businesses.[SM]

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