Bluegreen Vacations(BVH)2022-03-04 02:46Sales and Marketing - For the year ended December 31, 2021, sales and marketing expenses totaled approximately 55% of system-wide sales of VOIs[87]. - Approximately 4% of VOI sales were generated by marketing to prospective purchasers obtained through internal and third-party vendors' outbound telemarketing efforts[107]. - Bluegreen aims to grow VOI sales through the expansion of existing alliances and new marketing programs, targeting high-traffic resorts for sales office investments[90]. Customer Demographics - The average VOI owner has a household income of over $85,000, with 81% having graduated from or attended college[99]. - The vacation ownership industry has approximately 9.9 million families owning at least one VOI, representing about 7.7% of U.S. households[97]. Business Strategy - Bluegreen seeks to enhance its Vacation Club experience by adding new destinations and improving technology for its members[92]. - The company plans to grow higher-margin, cash-generating revenues such as resort management and financing revenues, which are more predictable[93]. - Bluegreen is pursuing opportunistic strategic transactions to acquire other VOI companies and assets, aiming for significant synergies and cost savings[95]. Revenue Trends - The company expects seasonal fluctuations in revenues, typically experiencing more tours and higher VOI sales volume during the second and third quarters[109]. Workforce - As of December 31, 2021, the company had 5,586 employees, with a focus on competitive compensation and benefits to attract and retain talent[111]. Regulatory Information - The Company provides access to its SEC filings, including annual reports on Form 10-K and quarterly reports on Form 10-Q, available on its website[114]. - The SEC maintains a website where reports and documents filed by the Company can be accessed free of charge[114]. - The Company does not have applicable quantitative and qualitative disclosures about market risk[371].