HomeAway and Westgate Resorts Create the Vacation Rental Industry’s First Partnership to Generate Revenue from Unsold and Vacant Timeshare Properties
AUSTIN, Texas, September 19, 2012 — HomeAway, Inc. (NASDAQ: AWAY), the world’s leading online marketplace of vacation rentals, today announces a distribution partnership with Westgate Resorts, the largest, privately owned timeshare company in the world. This agreement enables HomeAway.com® travelers to access unsold and vacant timeshare properties in resort destinations across the United States, and significantly increases the options for travelers primarily seeking homes with one or two bedrooms, as well as three- or four- bedroom villas.
This deal represents a new type of partnership between HomeAway® and a company in the timeshare industry.
Westgate Resorts represents 400,000 owners and more than 10,000 timeshare villas in 27 full-service resorts, with a majority of its properties located in the Orlando area, which has nine resorts. Additionally, Westgate also offers properties in areas such as Las Vegas, Miami, Branson and Park City – locations that traditionally offer fewer options for smaller groups seeking accommodations with shared spaces and kitchens. Every Westgate resort is themed based on the destination with a wide range of activities and amenities and represents a greater value than traditional hotel lodging.
"The timeshare inventory is a great complement to the existing HomeAway vacation rental offering on HomeAway.com, and expands the options for travelers who may not have previously considered the rental of full-sized vacation homes,” says Brian Sharples, chief executive officer of HomeAway. “We’re delighted Westgate recognized the benefits of this partnership for their company and travelers, and see this as a tremendous opportunity for other developers who want to capitalize on the synergy between the two industries."
"A healthy rental business can energize a resort by monetizing unsold inventory and introducing potential owners to our wide range of vacation ownership resorts,” says David Siegel, founder & CEO of Westgate Resorts. “We are pleased to be partnering with the leader in the online vacation rental business.”
Founded in 1982 by Siegel, Westgate Resorts develops and operates themed destination resorts that include spacious villa accommodations, destination health spas, water parks, restaurants and retail shopping outlets.
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