Timeshare News

Tourism is a vital part of Florida’s economy. Unfortunately, as with many tourist areas, the region has suffered a significant loss of annual revenue due to the widespread economic troubles across the country and indeed, across the world. Much of this is due to the financial crisis in America that has lingered as part of the long recession. For this reason, it is not surprising that the tourism industry in Florida has experienced a downturn trend that has been widely felt across much of the state. People’s general lack of disposable income means that the trend in vacationing has been to cut costs and reduce vacation time. However, recently there has been a bit of good news for the timeshare industry in at least one part of Florida.

In this tough economic climate when real estate and vacationing is suffering, there is one timeshare developer with a resort in Orange County, Florida who has announced an expansion. This expansion is a sizeable one and is at one of the region’s most popular timeshare locations, Westgate Lakes Resort and Spa. Westgate announced recently that they are building an additional 300 units at this popular timeshare resort. The announcement brought an unexpected but most welcome projected boost to the regional economy. The construction of these units is expected to be completed over the next 12 months, assuming no complications regarding final approvals. The units are expected to sell for $20,000 per unit for a $6 million project altogether. Once completed, the trend to bring new vacationers in the region would continue to affect the local economy.

The good news that accompanies this expansion (in addition to the economic tourism boost) is the rise in construction jobs that will result from the building of these 300 new units. This is an important bit of news for the construction industry in the region, which has been particularly hard hit by the bad housing market.

While most economists acknowledge the importance of tourism as an economic driving force, the boost for construction work is also important. In fact, between both the construction and tourist aspects of this expansion, the potential economic boost that could be generated by these new units is significant. While it takes some time to sell new units and get tourists visiting them annually, the overall impact in the long run will be very positive for the region. Additionally, in the short term, construction companies will see an economic boost that can help them offset some of the economic hurdles they have faced over the last few years due to the housing market crash.

Westgate, long known for its development of luxury timeshare units in central Florida, has become a leader in providing visitors to the area a great alternative to hotel vacationing in the region. The current resort offers vacationers some of the best luxury accommodations in the region and the new units are expected to continue this trend. Timeshares are a popular way for annual travelers to enjoy all the luxury of resort travel combined with all the comforts and amenities of home. In addition, these units offer tourists a chance to own – not just rent – a bit of Florida paradise.