Layoffs at Florida Westgate Timeshares October 1, 2008Posted by Bryan Connelly in : ARDA, Customer Comments, Disney, General, New Features, News & Events, RCI, Timeshare Rental, Timeshare Resale, Timeshare Resource, Travel, Westgate Timeshares , trackback
One of Americaâ€™s largest timeshare companies has recently taken drastic measures during these shaky economic times. Westgate Resorts in Orlando, Florida are halting all sales, construction, and marketing, wincing in the current credit crunch. Unfortunately this plan calls for hundreds of layoffs. These cuts will inevitably affect all areas of business.
This wonâ€™t just halt the administration and sales end, like Westgate President Dave Seigel told the papers. The local shops and restaurants will be loosing the tourism that these thriving resorts usher in. Seigel says Westgate will be able to pay the bills, but has no money for new business until things get better.
Hospitality giant Westgate currently employs over 10,000 and has 10,000 units at 28 resorts in 11 states. Most other companies are flinching with the increasing price of energy and poor tourism. Many brands are simply cutting back; IHG is full steam ahead, while Westgate stops altogether. It is tough to know which innovative plan will work out. The timeshare industry has always been a resilient one, and we should be hearing of future endeavors by Westgate Resorts.
At BuyATimeshare.com we know the timeshare industry can be fickle. And while CEOs lick their wounds, developers are having a problem selling timeshares for $20,000 to $40,000. Our records indicate stability in todayâ€™s timeshare resale market however. Our buyer specialists have processed over $6 million in confirmed offers