BOCA RATON, Fla.—Bluegreen Vacations Corporation has acquired The Éilan Hotel and Spa in San Antonio, Texas, for approximately $34.3 million. The company plans to add a 13,000-square-foot sales office at the resort by the end of the year, which Bluegreen says will expand its footprint for new business prospects and owner growth. The company added that the acquisition further leverages its existing marketing platforms, which include the seven Bass Pro Shops located in Texas, as well as its recently extended relationship with Choice Hotels.
“This acquisition reflects our ability to identify attractive opportunities in key markets aligned with our western expansion initiatives, and is an important addition to our resort portfolio,” Shawn B. Pearson, CEO of Bluegreen Vacations, says. “The Éilan Hotel and Spa property is consistent with our ‘drive-to’ resort strategy with over ten percent of current Bluegreen Vacation Club owners living in Texas and its surrounding states. We are excited to offer our current and future owners the option to visit The Éilan.”
ZB N.A. (d/b/a National Bank of Arizona) is providing up to $27.5 million of financing, $24.3 million at closing for the acquisition of the resort, and up to an additional $3.2 million to fund certain future improvement costs.
The Éilan Hotel & Spa is a 165-guestroom, boutique hotel with a 10-treatment-room spa, resort-style pools, a fitness center, tennis courts, and virtual golf. The resort is located within a 120-acre, mixed-use development at the foothills of the Texas hill country and is approximately 20 miles from downtown San Antonio. The hotel has Roman arches, modern art, and Italian-inspired grounds close to the city’s shopping, dining, and entertaining districts. The Éilan is also near the San Antonio Museum of Art, Texas wine country, Six Flags theme park, the La Cantera Golf Club, The Rim (Bass Pro site), Shops at La Cantera, and Top Golf.