Timeshare Financing News: Westgate Resorts Timeshare Finalizes $65 Million Loan
The exclusive resort finance (timeshare financing) lending correspondent for Liberty Bank, Wellington Financial, has closed its $65 million loan to Westgate Resorts timeshare.
Westgate Resorts CFO Tom Dugan explains, “Westgate has had a long-term relationship with Liberty through the bank’s participation in various transactions over the years. We are delighted to enter into a direct lending relationship with them and look forward to a successful, long-term association together.”
Liberty Bank is recognized in the timeshare and vacation ownership industry for having supported timeshare initiatives for over 30 years. Actively lending to timeshare companies, Liberty Bank is enthusiastic about its continuing relationship with Westgate Resorts timeshare. Liberty Bank VP of Resort Finance, David Brede, says, “We are confident in their senior management team’s ability to continue to be a successful company and an industry leader.”
Established in 1825, Liberty Bank is the oldest mutual bank in Connecticut, the company’s headquarters.
Other news of Liberty Bank’s presence in the vacation ownership industry and timeshare financing:
Plan a Florida Timeshare Vacation in Hurricane Season
Planning a Florida timeshare vacation —or for Caribbean timeshare, Mexico, or South Carolina getaway right in the middle of hurricane season might be a better idea than you think. First consider that hurricane season is … it officially begins on June 1 and doesn’t end until November 1. That’s a full six months that take you from Memorial Day to Thanksgiving and include many of the months that families want and need to plan a holiday at a Florida timeshare or other “hurricane zone” location.
Instead of giving up on the idea of taking a timeshare vacation in hurricane season, just do a little extra planning.
Look at the peak of the season’s activity in the area where you are headed. For a Florida timeshare vacation, that peak would the last two weeks in August and the first two weeks in September. Although hurricanes can happen at any time during “hurricane season,” more than 90 percent of those that impact land in Florida occur during the peak four-week window.
Find out if your timeshare offers a cancellation protection plan, such as the Points Protection Plan offered by Bluegreen Vacations, which helps you protect your valuable timeshare points during hurricane season. The Bluegreen Vacations Points Protection Plan is available for $39.95 per reservation, with discounts for Premier and Traveler Plus™ members.To learn more about Bluegreen Vacations Points Protection,go to Bluegreen Onlineor call 800.456.2582.
Enjoy the fact that if you do vacation during September, you will benefit from smaller crowds at restaurants, attractions, and theme parks. This has nothing to do with hurricane season, but reflects the fact that many parents are unwilling to take their children out of school during the first month back in session.
Lastly, if you do find yourself on vacation during severe weather, don’t be a thrill seeker. Follow the directions of authorities regarding evacuations and other storm relevant guidelines. While it may seem exciting to say you rode out the storm at your timeshare, even the most appealing resort loses its charm if it also loses electricity and drinking water, and if you are stuck inside day after day. Be safe and be smart when it comes to knowing when to head for another location.
Perhaps the only thing that could make owning a Bluegreen Vacations timeshare even better would be if it came with no timeshare maintenance fees. For 11 lucky Bluegreen timeshare owners, that is exactly the deal.
Bluegreen Corporation (Bluegreen Vacations Timeshare) has announced the winners of its Encore Sweeps Contest. Grand Prize Winners, George and Mary Whelchel, of Liberty, SC, won ten years of paid timeshare maintenance fees. Eight other first-prize winners received one year of paid maintenance fees, and two second-prize winners received a 3-night stay in Bluegreen’s The Fountains Presidential Suite in Orlando, FL.
The inspiration for the timeshare contest is Bluegreen’s Encore Program, which awards owners who refer qualified friends and family to attend a Bluegreen timeshare sales presentation. These Bluegreen Vacations timeshare owners are always rewarded with Encore Dividends™ that they use as currency for various Bluegreen vacation products, however, during the contest, they also received an entry for each referral they made.
Because of the contest, more than 6300 prospective Bluegreen Vacations timeshare buyers have attended these sales presentations during the contest period. Winner Mary Whelchel says, “We enjoy going to the resorts. We’ve been extremely satisfied owners. The maintenance fees have increased over the years, as to be expected, so this prize really helps us a lot.”
Bluegreen timeshare charity golf tournament at PGA National in Palm Beach Gardens, FL
Bluegreen Corporation and Bluegreen timeshare recently hosted the 14th Annual Charity Golf Tournament at PGA National in Palm Beach Gardens, Florida. Bluegreen timeshare, a recognized leader in vacation ownership marketing, sales, and hospitality, raised more than $58,000 through the event to benefit JDRF and Christel House Charities.
Played at the PGA National Resort & Spa in Palm Beach Gardens, (Florida) not far from the corporate headquarters of Bluegreen timeshare, the event was a four-person scramble with prizes awarded to the 1st, 2nd and 3rd place foursomes with the lowest gross scores, as well as longest drive, closest to the pin, and hole in one.
“We are extremely pleased with the results of this year’s tournament,” said Ellen Devine, executive assistant to the CEO of Bluegreen, and head of the company’s Bluegreen Employee Action Resource (BEAR) Team. We truly have a good thing going in this annual tournament. Philanthropy is in the company’s DNA and it shows in the associate’s participation in events like these.”
Twelve associates from the Bluegreen timeshare office in nearby Boca Raton office volunteered at the Tournament. Across the US, several Bluegreen timeshare resorts host local golf tournaments to benefit Christel House. Included are RCI Christel House Open Tournaments scheduled for:
Sunday, June 9, Daytona Beach, Florida
Monday June 10 Murrels Inlet, South Carolina
Monday June 10 Hollister, Missouri
Monday June 10 Pigeon Forge, Tennessee
Becky Arnett, Director of Timeshare Development for Christel House says, “We are so grateful for the generous support Bluegreen provides to Christel House. Over the years, I’ve had the pleasure of meeting and working with a number of Bluegreen Associates on fundraising initiatives, including the annual RCI Christel House Open. The Bluegreen Associates take their commitment to Christel House seriously and work hard to ensure that each tournament is a resounding success for the sponsors and players and especially in the funds raised for our Christel House students.
Arnett goes on to add, “This is the 11th year of the tournament, and I am still surprised at the amount of creativity and effort that go into the planning and implementation of each tournament. Each tournament has its own unique personality and traditions that the players look forward to each year – from the Casino Night and auction at the Boca Raton tournament to ‘Harold’s mom’ – the mother of the Daytona GM who has a home at the golf course and hands out snacks and cold drinks to the players. All of those extra touches ensure that the tournament is a success. You can’t ask for a better corporate donor. It truly is an honor to be one of Bluegreen’s charities of choice. I am also grateful that several Bluegreen Associates have taken the time to visit our learning centers and meet the very children that you help support. Thank you Bluegreen!”
