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.

Share:
More In Business
Michigan Judge Sentences Walmart Shoplifters to Wash Parking Lot Cars
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
Load More