If you’re planning a visit to Westgate Resort in Gatlinburg, you may be curious about who owns this popular vacation spot. The answer is not straightforward, as ownership can be complex and change over time.
The History of Westgate Resort in Gatlinburg
Westgate Resort in Gatlinburg, Tennessee, originally opened its doors in 1982 as the MountainLoft Resort. It was designed as a timeshare property, offering vacationers the opportunity to purchase a share of the resort and enjoy a luxurious mountain getaway every year.
In 2011, the property was acquired by Westgate Resorts, a Florida-based timeshare company founded by David Siegel in 1982. Today, Westgate Resorts operates over 20 resorts across the United States and boasts an impressive portfolio of more than 13,500 villas.
Who Owns Westgate Resorts?
As mentioned earlier, David Siegel is the founder of Westgate Resorts and currently serves as its CEO. He is also well-known for his role in creating the documentary “The Queen of Versailles,” which chronicles his family’s efforts to build the largest home in America before being hit hard by the financial crisis of 2008.
While David Siegel still serves as CEO of Westgate Resorts, the company has also seen investment from private equity firms over the years. In 2017, Centerbridge Partners acquired a majority stake in Westgate for an undisclosed amount.
What Does This Mean for Visitors to Westgate Resort Gatlinburg?
For visitors to Westgate Resort in Gatlinburg, changes in ownership are unlikely to have any immediate impact on their experience. The resort continues to offer luxurious accommodations and amenities such as indoor and outdoor pools, hot tubs, and fitness centers.
However, it’s worth noting that changes could occur down the line. With a majority stake now held by Centerbridge Partners, the company may make strategic decisions that affect the resort’s offerings or pricing. This is something to keep in mind if you’re considering purchasing a timeshare at Westgate Resort Gatlinburg.
Conclusion
In short, Westgate Resort in Gatlinburg is owned by Westgate Resorts, a timeshare company founded by David Siegel in 1982. While Siegel still serves as the company’s CEO, a majority stake was acquired by private equity firm Centerbridge Partners in 2017. Despite changes in ownership, visitors to Westgate Resort Gatlinburg can still expect a luxurious mountain getaway with top-notch amenities and accommodations.
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