Profiles of Timeshare Companies – Westgate, Wyndham, and Worldmark
Westgate resorts, with more than 10,000 timeshare units, is the third largest timeshare in the world. Westgate has over 400 owners and employs 6,500 people, says the Westgate website. The brainchild of David Siegel, Westgate was founded more than 40 years ago, nurtured from a garage business into an empire. Westgate has gone down into history as the largest privately owned timeshare in the world. One of the company’s proudest accomplishments is the building of PH tower, which, according to the company’s history, is the only timeshare tower connected to a casino in Las Vegas. According to the Westgate website, PH Tower will be worth over $1 billion when it is completed. Westgate also reports that the building will have more than 2,850 units.
Some of the other Westgate properties include Westgate Lakes Resort and Spa in Orlando, Westgate Miami Beach, and Westgate Towers, near Disney World in Orlando. There are also properties in Utah and Tennessee.
Wyndham Worldwide is a leader in vacation rentals and vacation exchange and ownerships. Properties range from resorts, and residence clubs to yachts. Wyndham’s vacation rentals has more than 200,000 units and 155 vacation ownership resorts. People who opt for vacation ownerships through Wyndham have the flexibility of staying in roomy condominiums around the world. There are about 820,000 owners. One of the highlights of Wyndham’s property collection is the Registry Collection, comprised of 160 high-end properties. According to Wyndham, it is the largest luxury property exchange. Destination properties are in Belize, Brazil, Canada, the Caribbean, Italy, Malta, Mexico, Portugal, Scotland, South Africa, Spain, and the United States.
Wyndham resorts is also a leader in vacation rentals, and according to company literature, Wyndham is the largest marketer of European vacation rentals. Some of the rental brands that Wyndham operates includes Canvas Holidays with campsite rentals, Cuendet, with villas in Europe, Hoseasons Group, with villas and cottages, Landal GreenParks, and Novasol. Wyndham resorts has been named one of Fortune Magazine’s Most Admired Companies in 2010.
Worldmark Resorts is a division of Wyndham and has 60 resort locations for vacation owners. Worldmark has both condominium-style accommodations and studios. The one and two bedroom condominiums are 60 percent larger than hotel rooms, Worldmark reports. Penthouse suites are also available to owners. Locations are in the continental United States, Hawaii and Fiji. Worldmark is also affiliated with another company, RCI and therefore can provide properties in the Caribbean, New York, Paris, Mexico, Australia, Ireland, Venice, Egypt, India, Hong Kong, China, Japan, the South Pacific, and the Cayman Islands.
Worldmark differs from other timeshare resorts because it offers its owners more flexibility. The point system isn’t tied to the size of the unit or the location, so timeshare owners can stay at any of the 60 resort locations at any time.