Silver Lake Resort, an Orlando Timeshare, Secures $20 Million Financing for Timeshare Resort Expansion
Thursday, September 10, 2009
Wellington Financial, the exclusive Resort Finance lending correspondent for Liberty Bank, and Silver Lake Resort, an Orlando timeshare, have released a joint announcement regarding a $20 million receivables loan secured for Silver Lake Resort through Liberty Bank. The popular Orlando timeshare will use the financing to construct 48 additional three-bedroom lockout timeshare units, with construction beginning in late 2010. The company believes that the addition of these lockout timeshare units will not only expand its facilities but also will strengthen timeshare exchanges and increase its standing with RCI.
Silver Lake Timeshare Resort’s CEO and General Partner, Deborah Moore explains, “Tourism in the Orlando marketplace is down, however sales at Silver Lake Resort remain strong. Visitation to the resort by owners and RCI guests remains consistent with prior years and our occupancy levels are exceeding that of area hotels. We feel this is primarily due to the fact that owners of timeshare intervals will travel before non-owners, since they have already paid for their vacations.”
Silver Lake Timeshare Well Positioned Geographically as Well as Financially
Securing the loan was made easier by the longtime work rapport between Deborah Moore and Liberty Bank Vice President, Relationship Manager David Brede, who says, “I’ve known Deborah and her management team for many years, having worked with them while I was employed with another lender, thereby contributing to our confidence. The resort is ideally located within two miles of Walt Disney World Resort’s main entrance, so owners can reach the park within a few minutes after leaving their front door. The 35-acre campus provides plenty of amenities for those who wish to enjoy an excellent vacation experience away from the hustle and bustle of Disney or any of the other nearby amusement parks.”
Silver Lake timeshare has long been a family favorite timeshare destination among Orlando timeshare resorts. Their planned resort expansion and Liberty Bank’s commitment to it attests to the fact that even in a challenging economy, well managed businesses can continue to grow.
On the consumer level, this announcement of growth and expansion is a reminder that millions of families own and enjoy timeshare. And they are able to enjoy vacations and leisure time together because they had the foresight to lock in the cost of their accommodations for a lifetime of timeshare vacations.