ORLANDO, Florida—Westgate Resorts introduced that it has signed a definitive settlement to buy Bellevue, Washington-based Trip Possession Gross sales (VOS), which has the administration and gross sales and advertising and marketing rights for VI Resorts. The acquisition is ready to shut in 2025.
As a part of the acquisition, Westgate Resorts will assume administration of VI Resorts’ points-based Trip Membership, which has a portfolio of over 40 home and worldwide resorts and locations. These areas are round the US, Mexico, and Canada. Westgate Resorts will proceed so as to add new House owners to the VI Membership via its gross sales and advertising and marketing efforts.
As a part of its administration settlement, Westgate Resorts has dedicated to investing over $4 million in advertising and marketing, branding, and know-how enhancements to boost the VI program for its house owners, together with further advantages.
“We’re thrilled to considerably develop Westgate with this game-changing acquisition of Trip Possession Gross sales and administration of VI Resorts’ Trip Membership with greater than 40 resort areas,” stated Westgate Resorts’ CEO Jim Gissy. “We stay up for working with the VI Resorts House owners to assist improve their Trip Membership, carry thrilling new Westgate locations into the VI Membership and create new and numerous trip product choices for our current House owners at Westgate.”
Upon the completion of the acquisition, Mike Vasey, proprietor and president of Trip Possession Gross sales, will be part of the Westgate government workforce and proceed to steer the corporate ahead. “From the second I started talking with the Westgate workforce it immediately felt like a pure match that the most important impartial, owner-led trip membership and the most important impartial timeshare model ought to come collectively. This acquisition will result in so many product synergies and collaborative alternatives,” stated Vasey. “The VI Resorts workforce and I stay up for becoming a member of the Westgate workforce and leveraging over 90 years of historical past between our two nice firms.”
Celebrating its fiftieth anniversary in 2024, VI Resorts is a trip membership identified for its points-based timeshare system courting again to its inception in 1974. This collaboration will permit the VI Resorts Board to leverage Westgate’s administration expertise to raise resort operations. “We’ve loved attending to know the Westgate Resorts management workforce over the previous yr and have visited a number of of their resort areas. We respect the immense capability that this partnership brings, permitting the VI Membership to stay impartial,” stated Betty Flad, president of the VI House owners Affiliation (VIOA) Board and a VI Resorts proprietor.
This buy builds on the heels of Westgate’s partnership with Selection Motels which was introduced earlier this yr, in addition to its plan to proceed to develop its timeshare enterprise. By way of this partnership, current Westgate House owners can change their possession time for stays at VI Resorts areas and VI House owners can change to Westgate Resorts areas via their Interval Worldwide membership.
