Westgate Resort is a well-known name in the hospitality industry, and many people are curious about the worth of this esteemed resort. In this article, we will take a closer look at what Westgate Resort is worth and what factors contribute to its overall value.
History of Westgate Resorts
Before delving into the current worth of Westgate Resort, it’s essential to understand its history. The company was founded in 1982 by David Siegel in Florida. Since then, it has grown to become one of the largest privately-owned timeshare companies globally, with more than 28 resorts across the United States.
Factors that Contribute to Westgate Resort’s Worth
Several factors impact the worth of Westgate Resort, including:
Location
One of the most crucial factors that contribute to Westgate Resort’s worth is its location. Many of its resorts are situated in prime locations such as Orlando, Las Vegas, and Park City. These locations are popular tourist destinations and provide access to several attractions, making them highly desirable.
Facilities
Westgate Resorts boasts top-of-the-line amenities such as swimming pools, spas, fitness centers, game rooms, and restaurants. These state-of-the-art facilities add value to the resort and make it an attractive option for vacationers.
Reputation
The reputation of Westgate Resort also plays a significant role in determining its worth. The company has built a solid reputation over several decades by providing quality service and exceptional experiences for its guests.
The Current Worth of Westgate Resorts
As mentioned earlier, Westgate Resort is one of the largest privately-owned timeshare companies globally. According to Forbes Magazine’s list of America’s Largest Private Companies for 2019-2020, Westgate Resorts’ annual revenue was approximately $1.5 billion.
Conclusion
In conclusion, Westgate Resort’s worth is determined by several factors such as its location, facilities, and reputation. The resort has a strong presence in the hospitality industry and has continued to grow over the years. With its exceptional amenities and top-notch service, Westgate Resort is undoubtedly a valuable asset in the hospitality industry.