Westgate Resorts Expands with VI Resorts Acquisition

Deal News | Feb 28, 2025 | EIN

Westgate Resorts Expands with VI Resorts Acquisition

Westgate Resorts has announced a significant strategic acquisition, purchasing the management rights for Vacation Ownership Sales (VOS), the exclusive management and sales partner of VI Resorts, the largest owner-controlled timeshare and vacation club in North America. This acquisition will see Westgate's number of resort destinations increase from 22 to over 60, adding locations in Mexico and Canada to its portfolio. As part of the acquisition, Westgate will manage VI Resorts' points-based Vacation Club, significantly enhancing its offerings across the U.S., Hawaii, Mexico, and Canada. Westgate has pledged an investment of over $4 million in marketing, branding, and technology to improve the experience for current VI Resorts owners. Following the acquisition, VOS's owner and president, Mike Vasey, will join Westgate's executive team, helping to lead the transition and integration. The collaboration between the two companies is seen as mutually beneficial, offering expanded opportunities for both VI Resorts and Westgate owners through Westgate’s management expertise and additional destinations. VI Resorts, celebrating its 50th anniversary, will maintain its independence with an owner-led board while leveraging the partnership to enhance operations. Westgate has also recently partnered with Choice Hotels, which complements this acquisition, allowing VI Resorts owners to benefit from exchange opportunities at Westgate properties, and vice versa via Interval International membership.

Sectors

  • Hospitality and Tourism
  • Real Estate

Geography

  • North America – The acquisition involves resort destinations across North America, including new locations in the USA, Mexico, and Canada.

Industry

  • Hospitality and Tourism – The article pertains to the hospitality industry, focusing on vacation ownership, timeshares, and resort management.
  • Real Estate – The acquisition involves expanding the number of resort destinations, which falls under real estate operations.

Financials

  • $4 million – Westgate Resorts has committed to investing over $4 million in marketing, branding, and technology to enhance the VI Resorts owners' experience.

Participants

NameRoleTypeDescription
Westgate ResortsAcquiring CompanyCompanyWestgate Resorts is a major player in the timeshare and vacation ownership industry, expanding its footprint through strategic acquisitions.
VI ResortsTarget CompanyCompanyVI Resorts is the largest owner-controlled timeshare and vacation club in North America, focusing on points-based vacation ownership.
Vacation Ownership Sales (VOS)Selling CompanyCompanyVOS is the exclusive management and sales partner for VI Resorts.
Jim GissyCEO of Westgate ResortsPersonJim Gissy leads Westgate Resorts and has overseen significant expansion efforts.
Mike VaseyOwner and President of VOSPersonMike Vasey will join Westgate's executive team post-acquisition to lead the division.
Betty FladPresident of the VI Owners Association BoardPersonBetty Flad represents VI Resorts owners and is involved in the partnership discussions.