ORLANDO, Fla., June 23 /PRNewswire/ -- Across the country resort
developers are putting new projects on hold and trying to figure out how to
salvage sales of projects already under construction. But a timeshare
developer from Florida, David Siegel, CEO of Westgate Resorts, is setting
record sales in what others would consider a down market.
"If I did not read the paper I would think our economy is booming,"
said Siegel. "Our occupancy is up and sales continue to surpass the records
we set in 2007 when we exceeded $1.1 billion in revenue."
The past 30 year history of the timeshare industry is ripe with
examples of how resilient this business is during periods of economic or
domestic uncertainly, and Westgate has consistently led the industry in
growth each year. In fact, after the September 11th attacks virtually
crashed the tourism market in destinations like Orlando and Las Vegas, the
timeshare industry showed solid improvements in both occupancy rates and
sales. Many industry experts credit timeshare for buoying the local
tourism-related businesses in a period when hotel occupancy rates dipped
below 20% at these destinations.
"Gas prices are at an inflation-adjusted high and food prices have
skyrocketed. But people still want to vacation; they're just looking for
someone to make it affordable," explains Siegel. "The fact that we can
offer them five-star luxury at a price they can afford is the thing that
sets us apart."
As the visionary founder and CEO of Westgate Resorts, David Siegel has
spent the last 25 years developing high-end family resorts in vacation
destinations across the nation, growing his company from one resort in
Kissimmee, Florida to 28 resorts across the United States. "The best
memories I had growing up were vacationing with my family; it has always
been my mission to replicate the great memories I had for the over 400,000
families that visit our resorts each year."
Next month Siegel will celebrate the topping off of his $1.2 billion
Las Vegas property-PH Towers by Westgate. Much of the celebration, however,
will be had by the local businesses and individuals who have benefited from
Siegel's success. A project of this magnitude has a tremendous impact on
the local economy. When Westgate develops a project, it translates into
hundreds of jobs for the local community and millions of dollars in
additional revenue for area businesses. "In places like Orlando and Las
Vegas, we buy a significant amount of attraction tickets, hotel rooms, and
other local goods," explains Siegel. "More importantly, we create thousands
of permanent annual visitors who will return each year and spend their
vacation dollars. We value our local partners and the communities in which
we live and work."
About Westgate Resorts:
With 28 resorts and over 400,000 owners worldwide, Westgate Resorts is
the largest privately owned timeshare company in the world and one of the
largest resort developers in the United States. The company, founded in
1970 by David A. Siegel, provides affordable luxury vacation accommodations
and exchange opportunities through exclusive affiliation with Interval
International, which offers worldwide travel solutions at over 2,000
resorts in over 65 countries. More information is available at
SOURCE Westgate Resorts