What Happened to Westgate Resorts?

Westgate Resorts, founded in 1982 by David A. Siegel, began with a modest 16-unit property in Kissimmee, Florida, known as Westgate Vacation Villas. Over four decades, it evolved into one of the largest privately held timeshare resort companies in the world, operating as a subsidiary of Central Florida Investments, Inc. (CFI). The company's business model centers on vacation ownership, offering spacious villas and a wide array of amenities across its properties, which are often located in popular tourist destinations like Orlando, Las Vegas, Gatlinburg, and Park City.

Key turning points in Westgate's history include its continuous expansion throughout the 1990s and 2000s, adding numerous resorts nationwide. A significant acquisition occurred in 2014 when Westgate purchased the LVH – Las Vegas Hotel and Casino, rebranding it as Westgate Las Vegas Resort & Casino and converting many of its rooms into timeshares. In 2015, founder David Siegel and his wife Jackie established the Victoria's Voice Foundation, a non-profit focused on substance abuse prevention, following the tragic death of their daughter.

Recent years have seen substantial developments. In March 2024, longtime executive Jim Gissy was appointed Chief Executive Officer, with David Siegel transitioning to Executive Chairman and President, a role he held until his passing in April 2025 at the age of 89. Under new leadership, Westgate undertook its largest geographic expansion in February 2025 by acquiring Vacation Ownership Sales (VOS), the management and sales partner of VI Resorts. This deal added over 40 properties, significantly increasing Westgate's footprint on the U.S. West Coast and marking its first international expansion into Canada and Mexico, bringing its total portfolio to over 60 resorts.

As of July 2026, Westgate Resorts continues to demonstrate robust activity and investment. In March 2026, the company opened a new $26 million mountaintop lodge at Westgate Smoky Mountain Resort & Water Park. The same month, Westgate completed a $207 million securitization of timeshare loans, its 18th such transaction since 2012, indicating strong financial health and investor confidence. April 2026 marked the one-year anniversary of the VI Resorts acquisition, celebrated with the opening of new offices in Bellevue, Washington, and continued integration efforts. In May 2026, Westgate received the prestigious ARDA ACE Philanthropic Award and announced a $28 million investment at Westgate Branson Woods Resort, including new attractions and a future water park slated for 2027. The company also received six honors in the 2026 Best of State Awards for its Westgate Park City Resort & Spa in June 2026.