Westgate Resorts Celebrates More Than 37 Years as a Pioneer of the Sharing Economy

Timeshare represents The Original Sharing Economy

Although the sharing economy has evolved into one of the hottest trends in the business world today, Westgate Resorts has played a pivotal role in shaping this innovative economic model since opening its first timeshare resort, the 16-unit Westgate Vacation Villas, one mile from the main entrance to Walt Disney World Resort, in 1982. Not only has vacation ownership through Westgate Resorts actually helped pave the way for the explosive growth of the global sharing economy, which is forecast to skyrocket to $335 billion by 2025, but the timeshare company has continuously perfected the model over the past nearly four decades, solidifying it’s founder status as the original sharing economy for consumers looking for affordable, secure options in leisure travel and vacation getaways.

In relation to Westgate Resorts, which has evolved into the largest privately-held timeshare company in the world with more than 400,000 owners, the sharing economy (aka “collaborative consumption”) essentially offers individuals of all economic backgrounds access to the flexibility and cost savings of vacation ownership, along with the opportunity for new and diverse travel opportunities each year. The unmatched flexibility of the product allows owners to use part of their week in different locations throughout the Westgate resort network or around the world through resort exchange.  The unique benefits of vacation ownership through Westgate Resorts include an established product that follows strict quality standards and allows owners to enjoy savings by prepaying their vacations for life and in the process unlocking access to accommodations that are much more spacious than traditional hotel guestrooms, along with five-star amenities including onsite health spas and waterparks, and a range of culinary options.

Today, Westgate Resorts, which boasts 27 themed resorts featuring approximately 14,500 luxury villas and hotel rooms in premier travel destinations, continues to implement new innovations within the sharing economy, while expanding its network of resort properties throughout the United States. For example, in 2018 alone, Westgate Resorts not only opened Westgate Cocoa Beach Resort, an all two-bedroom Polynesian-themed beach resort located one mile from the world-famous Cocoa Beach Pier in Cocoa Beach, Florida, but also acquired the former Hilton New York Grand Central, a 23-floor, 300-room two-tower hotel located in the historic Tudor City neighborhood within the heart of Midtown Manhattan’s East Side and rebranded it as Westgate New York City. Westgate Resorts is currently renovating and transforming Westgate New York City into a mixed-use hotel-resort with a total of 212 hotel guestrooms and suites and 94 timeshare villas.

For more information about the latest developments concerning Westgate Resorts, including its central role as a longtime shaper of the shared economy, visit www.westgateresorts.com.